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	Frequently Asked Questions

Our Services What is OttawaSpot.com? OttawaSpot.com is a Private Sale Real Estate Marketing service that serves the Ottawa/Carleton area exclusively. How do I contact OttawaSpot.com? You can reach us by email at info@ottawaspot.com. How much does it cost to list with OttawaSpot.com? For more information on our packages click here. To start listing your home, click here. What are your hours of operation? Due to the nature of our business, we do not have regular office hours. We try to have someone in the office Monday-Friday, 9am-5pm. How do I start the process of listing my home on the OttawaSpot.com site? To list your property with OttawaSpot.com, just complete our On-Line Registration Form by clicking here. Once we receive the form, we will contact you (usually the next business day) to confirm the details of your listing, arrange for set-up of any signs that you have ordered and make payment arrangements. How long will it take for my listing to be displayed on OttawaSpot.com? The amount of time it takes to get set up varies depending on the time of the year and the package that you have chosen. It usually takes about 1 business day however in the Spring it can take a little longer. How many pictures allowed per listing, and what format should they be in? Number: We allow up to 11 pictures per listing. Usually 1 exterior, and 10 interior. Format: If you are submitting your own digital pictures they should be in JPEG format. We will re-size them to fit our page. If you would prefer to submit regular photographs that is not a problem: we will scan them and format them for you. Do I have to submit my pictures right away? We understand that sellers are often anxious to get their listing up as quickly as possible. therefore we allow you to add pictures later if you do not have them when you register your listing. We will set up your listing on OttawaSpot.com once we have confirmed your registration, and you can submit the pictures by email (or regular mail) when you have them ready. We ask, however, that you indicate the address of the property displayed in the pictures to allow us to identify it quickly. Can changes be made to the listing once it is posted on OttawaSpot.com? The Vendor can change their Open House listing and the price of the property at any time through our website. Other changes must be done through our Office and can be submitted by email to info@ottawaspot.com. Why can't I make changes to the text of my listing myself? Before we post any listings on OttawaSpot.com, we review their content to ensure that they conform to our high standards for quality and professionalism. In order to maintain these standards, we must have all changes come through our office before posting them. We believe that this leads to a more clear and enjoyable experience for Vendors and Buyers, and therefore should help to sell your property faster. How long will my listing be displayed on OttawaSpot.com? Once you register with OttawaSpot.com, your listing will stay in our database as an active listing until you advise us that it is sold, or you ask us to remove it.   Information for Vendors What are the benefits of selling my home privately? A private sale is an interesting and cost-effective way to sell your home. There are many reasons to consider selling your home privately, including the following: You can save thousands of dollars in real estate commissions: Say for example you would like to sell your home for $200,000. The average Real Estate Commission in Ottawa is 5%. Therefore you would have to pay your Real Estate Agent $10,000 in commission to sell your home! If you sell your home privately with OttawaSpot.com you pay no commission . The Ottawa/Carleton community is very tech-savvy. Because of this, many prospective buyers will do a lot of searching themselves when they are looking for a home, and the internet has made this information very accessible. More and more buyers are including For Sale By Owner websites in their search, so that they can deal directly with the owner. You are the boss: you can decide how many Open Houses you want, and don't have to work around a Real Estate Agent's schedule. An Agent will have many other properties that they need to promote, your property may not be their top priority. You know your house the best: you can speak to prospective Buyers sincerely about what it is like to live in your home. Why should I choose to list with OttawaSpot.com? OttawaSpot.com offers a range of packages to assist you in selling your home privately. We are your low cost and user friendly Private Sale Home Marketing alternative in Ottawa/Carleton. We have worked hard to set up an effective website that is enjoyable for both Purchasers and Vendors. We offer a range of packages, all of which include: A complete listing on OttawaSpot.com, where you can display up to 10 large colour photos of your home; Prompt and courteous customer service from OttawaSpot.com; A full package of materials and worksheets to help you prepare your home for sale, market your home and deal with potential Buyers. An Open House Banner on our website, which you can update yourself to advertise upcoming Open Houses. What is the "Vendor's Information Package"? The Vendor's Information Package is a package of useful tools to help you to sell your home. This package includes: Checklists and information sheets to help you prepare your home for sale; Informational materials to help you prepare and run an Open House; Organizational tools (including Guest lists and Telephone Caller lists); and Negotiation worksheets. Will OttawaSpot.com help me to determine what my asking price should be? No. OttawaSpot.com cannot give this sort of advice as we are not qualified home appraisers. There are a number of ways that you can determine what your asking price should be: a listing of these strategies is included in our "Vendor's Information Package" to help you get started. How long will it take to sell my home? The amount of time that it takes to sell your home is dependent on a number of factors, including the state of the market, the condition and location of your home, interest rates and, of course, your asking price. The average amount of time that a house is on the market in Ottawa/ Carleton is currently about 40 days. This period can be much longer if you have priced your home too high, or are not presenting it properly to prospective buyers. Your Vendor's Information Package will give you strategies that will help you price your home properly, market it effectively and display its true potential.   Information for Buyers Why should I use OttawaSpot.com when looking for my new home? There are a number of reasons why Buyers can benefit from using OttawaSpot.com in their search for a new home. They include: No commission: therefore Vendors may be more flexible in their negotiation as they will not have to factor the commission into their asking price; Dealing directly with the owner can be more efficient as you won't have to work around a Real Estate Agent's schedule. Our search tools offer excellent features to help you find the exact type of property that you are looking for. How are OttawaSpot.com's search tools better? OttawaSpot.com simply offers you more search options to narrow down your search and help you to find exactly the type of property that you are looking for. These tools include: Quick Search: where you have the option to: Search all of OttawaSpot.com's listings; Search Open Houses: which will list all of the homes hosting upcoming Open Houses; or Do a Keyword Search Map Search: just click on the map to find listings in a particular area, and Advanced Search: Which allows you to search according to a number of criteria, including: Location; Price Range; Property Type; Number of Bedrooms and Bathrooms; and Square Footage. How do I get started? Purchasing a home is one of the biggest financial committments that a person can make in their lifetime. It is important to make sure that you have taken the proper steps to protect yourself throughout the process. There are two important steps to take before you start looking, which will help the purchase go more smoothly: 1) Get a pre-approved mortgage, and 2) Choose a lawyer. , Getting a Pre-approved Mortgage In order to get pre-approved for a mortgage, you will need to contact a financial institution or mortgage broker. It is a good idea to do this before you look at houses, as the amount that you are pre-approved for will be a guideline for what price range you should be looking at. The mortgage professional will review your personal financial status to determine what you can afford and will give you a pre-approved mortgage based on that information. This quote will usually be valid for 120 days. What does a mortgage broker do? A mortgage broker is an independent mortgage professional who is not affiliated with any particular financial institution (although they may have institutions that they prefer). A mortgage broker will be able to shop around for you to find a rate and mortgage package that will suit your needs. There is usually no charge for this service, as the mortgage broker is paid a finder's fee by the financial institution that they deal with. Please see our Resources section for a listing of some Mortgage Brokers who offer a free consultation. Why do I need a pre-approved mortgage? Having a pre-approved mortgage is valuable for a number of reasons: 1) It helps you to narrow down your search to only those houses that you can afford; 2) It lets the seller know that you are a serious buyer; and 3) Once you have made an offer and it has been accepted, it will allow the financial process to move more quickly. Choosing a lawyer: Do I need one? Whether you purchase your home privately or with an agent, you will need to use a Real Estate Lawyer to help you through the process. A Real Estate Lawyer will: Prepare the Offer of Purchase and Sale; Answer any questions you may have regarding terms and conditions in the Offer of Purchase and Sale; Help you to keep track of the Closing details, including any deadlines and conditions; and Safeguard your interests throughout the process. Your lawyer works for you, and should be an impartial third party whose interest is to safeguard your rights throughout the process. We recommend that you employ an experienced Real Estate lawyer and that you speak to a number of lawyers to compare their estimated fees (as they can vary considerably). Please see our Resources section for a listing of local Real Estate Lawyers who will provide you with a free telephone consultation regarding their services and fees. Do I need a Real Estate Agent to buy a house that is listed on OttawaSpot.com? You do not need to use a Real Estate agent when you are buying a home through a private sale. Some Purchasers do like to use a Real Estate Agent to negotiate on their behalf. This can actually add to the price of the home, however, as the Real Estate Agent will charge the Vendor a commission which the Vendor will likely want to add to the price of their home to cover that cost. If you sign a Buyer's Agency Agreement with a Real Estate Agent, you may be required to pay a commission on the purchase of the home, even if you find the home yourself. Try to make sure that your agreement does not include private sales, if you plan to look for private sales while working with a Real Estate Agent. What if I already have a Real Estate Agent? If you have signed a Buyer's Agency Agreement which includes private sales, you can still consider buying a home through a private sale. Your Real Estate Agent will charge a commission, however (usually around 2.5%). Many Vendors are willing to deal with Real Estate Agents, although, as mentioned above, they may not be as flexible on the price due to the commission. Are there any additional costs that I should budget for on top of the cost of the house? In addition to the amount of money that you will be spending on your home, there are a number of other fees, generally known as "Closing Costs" that you will have to pay when you buy a house. These can include the following: Land Transfer Tax; Lawyer's fees and disbursements; Prepaid property taxes or other household expenses paid by the current owners; In addition to these "Closing Costs", you may want to budget for the following costs that are common when moving: If you have a current mortgage, you may be required to pay a penalty to break it (called "discharge") if you are not staying with the same company. Moving costs (packing materials, truck, movers); Fees to transfer or re-connect utilities, telephone and cable.   The Offer How do I make an offer? So you have done your homework and now you have found a home that you would like to purchase: how do you make an offer? There are two ways that you can initiate this process: You can negotiate directly with the buyer. You may be able to save time and money on legal costs by hammering out the details of the deal with the Vendor before involving your lawyer. OttawaSpot.com provides Vendors with negotiation work sheets for this purpose. These forms will also give you an idea of some of the issues that should be discussed prior to agreeing on an offer. As these forms are not legally binding, and are intended only as a guideline, you will need to take them to your lawyer to have a formal offer prepared. This offer should then be delivered to the Vendor to be reviewed by the Vendor's lawyer. You can have your lawyer prepare an offer to be presented to the Vendor. The Vendor will then usually have his lawyer review the offer and then negotiate the details with you. What should I include in the offer? There are a number of things that you should consider when drafting an offer for a home, the price is not your only concern. Among the details that deserve your attention are: How much of a deposit should I put down? When will I take possession of the house? Will any conditions attach to the sale? What items will be included and excluded? How much time should I give the Vendor to accept my offer? Will OttawaSpot.com help me to draft my offer? No, we are simply not qualified to do this and therefore we do not provide this service. We recommend that you hire an experienced Real Estate Lawyer to help you draft your offer. Please see our Resources section for a listing of local Real Estate Lawyers who will provide you with a free telephone consultation regarding their services and fees. What is a deposit? You will submit a deposit with any formal offer. Your lawyer will advise you on the amount of the deposit, which will depend on the price of the home. The deposit cheque should be made out to the Vendor's Lawyer "In Trust". What is the "Closing Date"? Also know as the Completion or Possession Date. This is the date when you will take possession of your new home. What are "Conditions" and which ones should I consider? In your offer you may specify that you would like a certain amount of time to arrange for your financing and to have the home inspected. You may also want to request certain repairs (although this is less common). These are conditions, and will be either included on the Offer form, or attached as a Schedule to the Offer. A Schedule is simply a separate page titled, for example, "Schedule A" which is used when a list of items will not fit into the offer easily. It is a good idea to have your lawyer draft (or at least review) the conditions to ensure that they are worded properly. We also recommend that you use a certified Home Inspector: you can find some listed in the Resources section of our website. How do I know what is included with the house? When you view the home, you may be unsure about what will be included in the sale: appliances, draperies, light fixtures. These sorts of items fall into two categories: Chattels: Chattels are moveable objects that the Vendor is including with the sale, such as draperies or appliances. These items are also sometimes called "Inclusions". These items should be listed in the Offer, otherwise it will be assumed that the Vendor is taking them. Fixtures: Fixtures are items that are attached to or built into the house (for example, chandeliers, built-in book cases). These items are generally included in the sale of the home. The Vendor will need to provide a list of fixtures that they intend to remove from the home, or they will be assumed to be included. If you are unsure about an item, however, you should confirm its status with the Vendor. How much time will the Vendor have to consider my offer? The amount of time that the other party will have to review a formal Agreement of Purchase and Sale and present you with a counter-offer is known as "irrevocability". Usually 48-72 hours are given for this process, but both parties may agree on a longer or shorter amount of time. What do I do once my offer has been accepted? Once your offer has been accepted there are still a number of steps before the sale will be finalized. If you have negotiated on your own, you will need to have your lawyer draft the official Offer of Purchase and Sale at this time. Then both you and the Vendor will need to have the document reviewed by your lawyer before signing it. You may have included some Conditions in your Offer, such as repairs or a home inspection. It is important to keep in touch with your lawyer and the Vendor during this time period to ensure that these Conditions are dealt with within the timelines set out in the Offer. The home will not be legally considered sold until all of the Conditions have been met.

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