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Canadian Real Estate/taking a property off the market

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Expert: - 8/22/2010


Question
I am trying to sell a property which has now failed 2 inspections. It is a very old house and the real estate agent has frightened me so much (he said the city could demand I knock the house down completely)  that I reduced the price by $24,000 without taking advice from a professional builder. Today a builder looked at it and said it would cost about 2.5 to $3,000 to repair.
My question is can I take the house off the market or at least suspend viewings until the work is done then put it back at the original asking price?
The contract with the agent expires 31st August 2010 although last week he got me to sign for another month taking it to end of September 2010.

Answer
Hello Tikvah,
Yes, if you decide to make the necessary repairs to the house you can "SUSPEND" the listing for as long as you need to complete the job. The price that you list at when you come back on the market would be determined by you and your Realtor and is based on current market conditions. I would recommend that you check with a couple of other builders with regards to the repair just to make sure that they agree with what needs to be done and the costs to remedy.
Regards,
Penny

Canadian Real Estate

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Penny MacKenzie

Expertise

General Residential Real Estate, Real Estate Agency, Real Estate Terminology, Real Estate Marketing

Experience

Penny MacKenzie is a full time Burlington Real Estate Agent with over 15 years of experience. An active member of the Burlington Business Community Penny is Past President of The Burlington Chamber of Commerce and Past Chair of Tourism Burlington. Penny has also served on the Board of Directors of the Burlington Art Centre Foundation. Penny is also past chair and co-founder of Party In Pink an incredible women only fundraiser for Breast Cancer Support Services. In just four short years this event has raised over $250,000 in support of women who are currently undergoing treatment for breast cancer. As a full time Realtor Penny is experienced in the Burlington and Area real estate market. She has personally handled all types of real estate transactions, however, she is an Experienced Residential Realtor, qualified to help families reach their residential home buying and selling goals.

Organizations
Hamilton-Burlington Real Estate Board, Oakville-Milton Real Estate Board, Ontario Real Estate Board, Canadian Real Estate Board

Publications
www.blogburlingtonsbesthomes.com

Education/Credentials
Licensed Realtor with Keller Williams Realty the fastest growing Real Estate Company in Canada!

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