EP: 166 July 2022 Winnipeg Real Estate Market Update
11m
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Bo Knows Real Estate
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Real estate listings, stats and sales for Winnipeg on July 1st 2022.
The episode EP: 166 July 2022 Winnipeg Real Estate Market Update from the podcast Bo Knows Real Estate has a duration of
11:13. It was first published
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3 Real Estate Facts You Need To Know - Mid-Aug 2022
3 Real Estate Fact #1
[00:00:00] Host Ryan Peterson: Get ready for three interesting real estate facts you should know coming up in this episode of Winnipeg's real estate podcast. Cue the music
[00:00:11] Bo Kauffmann - REALTOR: you're listening to the bone knows real estate podcast tips and advice for home buyers, sellers, and owners with award winning Remax agent Bo Kaufman.
[00:00:26] Host Ryan Peterson: Hello, I'm your host, Ryan Peterson. Welcome to another episode of Winnipeg's real estate podcast with my friend and real estate expert, Bo Kauffmann of Remax Performance Realty
[00:00:35] Bo Kauffmann - REALTOR: Hey Ryan thanks for the great intro and anybody who's listening to this will notice right away that there's a bit of a change in the format here.
Ryan and I did a series of episodes a few years ago that were called a real estate round table. And what I always liked about him was the little back and forth and two different voices talking. So I wanna recreate that here and I thank you, Ryan, for agreeing to do this with me.
[00:01:04] Host Ryan Peterson: My pleasure. It's great to be back Bo. All right. So let's get right into it with three different facts about real. Okay,
You must hear this first question a lot from home buyers. When my possession data is coming up, how do I get the keys and get into my new home
[00:01:09] Bo Kauffmann - REALTOR: All right. So it really depends on where you are.
I hear that a lot of places in the states and different provinces and the real estate agent actually has the key and meets you at your door, but here in Manitoba, it's all done through the lawyers. So here's what happens is about a week before you possession date, you the. Meet with your lawyer, you sign a bunch of papers.
You give him a suitcase full of money that he's gonna tell you, just how much to bring and you sign the papers and then you just sit back and wait. At the same time, the seller meets with their lawyer signs, papers, and gives him the keys. And then the day before possession. The lawyers talk to each other and exchange those two items.
The buyer's lawyer sends the money. The seller's lawyer sends the key. You get another phone call and the day before possession, you show up at your lawyers and he'll give you the key and with strict instructions not to go into the house. Until right at the time that stated on the offer. I remember,
[00:02:01] Host Ryan Peterson: Getting my first home in 2000 and yeah, it was a plain Manila envelope that I got the key in.
And honestly I was expecting a little bit more fanfare, what are you gonna do? You're still excited about the new home now. Bo is the date usually hard and fast or is there some flexibility, say a buyer wants to swing by and get some measurements to make sure that the furniture is gonna fit certain way.
[00:02:20] Bo Kauffmann - REALTOR: Okay. That's a really good question. Answer that question. The date is hard and fast. Now, if it's important to you to take some measurements or to go in for one more, look, make sure that you're a real estate agent. That's the buyer's real estate agent writes that into the offer because the seller does not have to let you back in until let's say it's nine o'clock and not Tuesday morning when you're taking possession, you don't have the right to go back in there.
If you, some people want to do not only measurements, but they also might wanna get a contractor to go through. They might wanna be ready to do a new kitchen, make sure you write that into the offer. And that way the seller when they agree to it, have to let you in.
[00:02:55] Host Ryan Peterson: worst they can say is no.
That's right. And it's not one of those things that's gonna make or break a deal or make you lose out on a house, right? Nope. That's right. Okay. Great now. Okay. Let's look at the other side of the equation. Do home sellers get their money right away when the keys are handed over?
[00:03:08] Bo Kauffmann -...
August 2022 Winnipeg Real Estate Market Report
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Is this a home buyers market, or a home sellers market?
Listen and find out whether now is a great time to buy or sell your house or condo in Winnipeg.