Without a doubt, it’s one of the most confusing concepts in real estate. I’m talking about the “bully” offer or what we call a pre-emptive offer. While some buyers see these bids as controversial, others view them as perfectly-fair tools to use in a competitive situation. One thing is for sure: there’s plenty of uncertainty about what bully offers entail—and when (if ever) making one is a good idea!

If you’re planning to buy a home in a hot market, here’s what you need to know…

What is a bully offer?

Let’s start from the beginning. When a seller expects to receive multiple offers, they may decide to set an offer date. Buyers are invited to submit their bids on this day—and told that if they do so beforehand, their offer won’t be reviewed until the official date.

Taking this step allows sellers to maximize competition. Buyers are more likely to make their highest bid first if they know all of their offers will be compared at once.

This is where the bully comes in. A potential purchaser can submit a bid before the offer date—and sellers may be tempted to look at it. If the number is compelling enough (and if it comes with a deadline that makes it difficult for other buyers to jump in and compete), it may be accepted. At least, that’s the buyer’s hope!

The advantage

Like any strategic move a buyer makes, a bully offer can come with both pros and cons. That’s why carefully weighing your options is key!

There’s one major benefit associated with making a pre-emptive bid (aka the “bully”), and it’s a big one. Going this route could allow you to secure your dream home—before the competition heats up.

If you’ve never been part of a bidding war, I can tell you right now that they can sometimes be stressful. By submitting an attractive bully offer, you could put enough pressure on the seller that they decide to accept it early on. If that happens, you’ll avoid some major headaches come offer day.

The cons

There’s also a potential downside. For one, your decision could backfire. While some sellers will look at your bid, others will stick to their guns. There’s a possibility that they’ll look unfavourably on your decision to submit early (though it’s worth noting that you’ll almost certainly get the chance to compete on offer day either way).

If they don’t accept your offer, they’ll also be aware of precisely how much you’re willing to pay. They could use that information to their advantage if they consider selling to you later on.

It’s also worth noting that some buyers view bully offers as dubious. They see them as a way of skipping the line. The thing to keep in mind is, every buyer has the opportunity to make a bully offer—and every seller can choose to refuse one if they’re not interested in reviewing it.

When to consider one

So, let’s say you find your dream home. You have enough money in your budget to make a very appealing offer—but the market is hot, and nothing is certain. The sellers have set an offer date, and you want to make a bully offer.

Here’s what you need to remember. Your bid needs to make buyers think twice about holding off until their offer date. That means the sum you put forth should be significantly over asking.

You’ll also want to ensure that the deadline provides a short timeline for sellers to make a decision. If it’s too long, other buyers will have the opportunity to submit their increasingly competitive bids—which kind of defeats the purpose of making a bully offer.

The decision of whether to take preemptive action is yours to make. Whatever you do, make sure you have an experienced local agent to advise you at every step—including during the offer stage!

Whether you have questions about the market or you’re ready to find your perfect property, I’m here to help. Reach out to connect with me today!

We’re well into fall now, and winter is on its way. For many homeowners, that means it’s time to do a little redecorating.

Refreshing the look and feel of your space can help you more fully enjoy your time indoors when the temperature drops. It also provides the opportunity to try some of the unique fall decor that’s cropped up recently!

If you’ll be redecorating this fall, here are five trends to try out right now…

1) Floral wallpaper

The word “wallpaper” is enough to instill fear in the hearts of many homeowners. Fortunately, the options you’ll currently find in stylish home design shops bear little resemblance to those that were popular in the 70s and 80s. Bold colours and patterns—and florals, in particular—are having a moment. From Victorian-inspired roses to oversized wildflowers in vibrant hues, today’s flowery designs are far from drab.

2) Natural Fibre Rugs

Nothing quite pulls a room together like a rug. While some make a strong statement, I’ve been seeing a lot of subtler options lately. That’s a great thing if you’re looking for versatility! In particular, natural fibres work well in every room of the house—especially if you’re aiming for a chic-yet-relaxed vibe. From sea grass to hemp, look to earthy fabrics for a pared-down aesthetic. As a bonus, these rugs are super durable (making them perfect for family homes).

3) Tapestries

Every living room should have at least one focal point—whether it’s a television, fireplace, or eye-catching piece of artwork. Paintings are a popular option, but the right tapestry can add just as much life to an indoor space; Don’t worry. I’m not talking about fabrics printed with psychedelic designs (those are best saved for dorm rooms). Instead, try a little sophistication with an antique landscape in muted colours.

4) Monochromatic colour schemes

I’m no fan of boring colour palettes, but I appreciate a monochromatic scheme when it’s done right! Using many shades of the same hue may seem unimaginative, but it doesn’t have to be. When you choose a rich, saturated colour, layering different versions of it can boost a room’s visual interest. Think indigo blue, not taupe. Don’t forget the power that an unexpected pop of colour (which is to say, one outside the palette you’re working with) can have.

5) Bringing the outside in

No matter the season, decor that reminds you of the great outdoors can provide a substantial boost to your mood. For many homeowners that means lush potted plants (since the right ones can flourish through winter). For others, it means tall grass, bullrushes, or willows in a vase. If you’re really keen on an outdoorsy aesthetic, you might even consider furniture made of natural-looking materials—like driftwood or rustic stone.

Fall Decor

Fall is the perfect time to get cozy at home, and the first step is making sure you love your space! Whether you opt for a full-on redesign or add a few new touches to liven things up, there’s no shortage of new trends to explore.

Thinking about selling your home? When you’re ready, I’m here to help. Reach out to connect with me today!

Summer has come and gone, and now it’s time to enjoy all that fall has to offer. Between watching the leaves change and sipping on your favourite hot beverage, there’s a lot to love about this time of year.

Of course, there are also some not-so-fun things about autumn—and one of the biggest may be the increased need for home maintenance. The good news? By keeping on top of your property’s upkeep, you can prevent some of the major issues that tend to arise when colder weather hits.

Here are five things you can do in the fall to prepare your home for winter…

1) Prepare your lawn

If you’re like most homeowners, you probably perform most of your lawn care in the spring and summer. The truth is, caring for your grass is just as important when fall rolls around! That means fertilizing to promote root health, and keeping up with the mowing and watering while your lawn is still growing.

Early fall is also a great time to tackle sparse areas. By aerating and seeding now, you’ll give new grass a chance to take hold—and come back looking healthy in the spring!

2) Inspect your gutters

It’s nobody’s favourite job, but it needs to be done. I’m talking about pulling out the ladder to get up close and personal with your gutters. Once winter comes, any existing leaves and debris are going to freeze. That can cause sagging and even lead to water damage!

Once you’ve cleared your gutters, give them a rinse with the hose. Watch for any leaks, loose screws, and warped or broken surfaces. Ideally, these issues should be repaired before the first snowfall.

3) Disconnect your hoses

It’s a simple task, but it could prevent some major annoyances down the road. During a cold Toronto winter, hoses and outdoor faucets can freeze—and that can pose a potential hazard to connected pipes inside. Luckily, this outcome is easily avoidable!

Start by shutting off the valves that lead outside. Next, drain any existing water from the lines. Lastly, coil and store your hoses for the winter—just make sure they aren’t kinked or pinched before you put them away. You may also want to purchase some outdoor faucet covers from your local home improvement store.

4) Seal the drafts

I’m a big fan of fall colours and cozy sweaters—but I’m less partial to cold drafts! This season, I suggest keeping your home warm in the most energy-efficient way possible. That means finding places where the cold air is getting in and taking steps to seal them.

Door sweeps and weatherstripping are relatively inexpensive ways to minimize drafts. If you don’t already have them, installing double-pane windows can provide a more permanent solution.

5) Give your furnace a tune-up

When winter weather hits, the last thing you want is to be left out in the cold. That’s why I suggest tending to your furnace—before the temperature drops. Start with your filters. Once your furnace is in use, you’ll want to replace them every three months!

If it’s been a while since your HVAC was serviced by a pro, now might be a good time to call somebody in. Taking this step is essential if you’re noticing a lot of soot, your pilot light isn’t blue, or your furnace is shutting off at random intervals.

Fall is a season that’s meant to be enjoyed—just don’t forget that winter lies ahead. With a bit of foresight, you can ensure that your home is in good condition all year long!

Thinking about selling your home? When you’re ready, I’m here to help. Reach out to connect with me today!

It’s something a lot of Torontonians are talking about right now, and for good reason. The city’s short-term rental registry came into effect on September 10th, and many people—including real estate investors, home renters, and even frequent visors who use AirBnB—are a little confused.

I know how complicated city bylaws can be, especially when they have to do with property! That’s why I wanted to take this opportunity to answer some of the most common questions I’ve been hearing.

If you’re wondering how Toronto’s short-term rental registry could impact you, here’s what you should know…

What it means if you want to rent out a property

Let’s start with the basics. Do you need to register as a short-term rental operator?

If you’re planning to rent out your property for periods of less than 28 consecutive nights, you do. If you’re already doing that, the deadline to register is December 31, 2020. Here are a few things to note.

It must be your primary residence

Translation: you can’t rent out an investment property short-term. It has to be the place where you live and receive your bills. I’m talking about the address you use for your ID, taxes, and insurance.

You’ll need approval in some cases

Whether you’re a homeowner or a tenant, you have the right to rent out your space short-term. Just make sure you get approval from condo management if applicable—and your landlord if you’re renting.

There are limits to how often you can short-term rent

If you’re renting out your entire home, you can’t do so for more than 180 nights per year. When we’re talking about one, two, or three rooms within your primary residence, there’s no limit to how often you can do it.

You can’t rent out your secondary suite

Well, you can rent out a secondary suite if it’s your primary residence. What you can’t do is turn a self-contained unit within your own home (such as a full basement suite) into a short-term rental.

These are just the broad strokes. My advice is to head over to the City of Toronto website and read the rules carefully to avoid future complications!

How to get set up

If you’d like to rent out your home according to the new rules, the first step is registration. Luckily, the process is pretty straightforward. All you need is an Ontario driver’s license or photo card with your address on it, and $50 for the registration fee (payable by credit card). Lastly, you’ll have to designate someone as your alternate emergency contact in case something goes wrong with your rental.

Once your application has been submitted, you can expect to hear back from the city within five days. If it’s accepted, you’ll receive a unique registration number—which you’ll need to use in any advertising that promotes your short-term rental.

What it means for renters

There’s no getting around it. If you’re a short-term rental operator using an investment unit, you’re going to have to change your strategy. On the bright side, taking on a tenant can still provide a tidy profit—and (most likely) more stability and less hands-on maintenance.

Of course, there’s an even bigger silver lining here. In a tight rental market—one where would-be tenants and buyers often have difficulty finding properties that meets their needs—the short-term rental registry will free up more living spaces. That’s good for the housing market, good for Toronto renters, and good for buyers looking for the perfect place to call home!

Whether you have questions about the market or you’re ready to find your perfect property, I’m here to help. Reach out to connect with me today!