In this episode (#182) of KT Confidential, The Real Estate Podcast, Ariel and Adrian discuss how to properly proceed after the buyer doesn’t deliver the deposit. If the financial risk of a variable-rate mortgage doesn’t bother you, a variable-rate mortgage may be a preferable option in a low-interest-rate environment because the rate is likely to be lower than a fixed-rate mortgage, which can save you a lot of money. A fixed-rate mortgage, on the other hand, is the best option if you want to know that your mortgage payment will remain the same regardless of whether interest rates climb or fall.
All of that and more on KT Confidential – The Real Estate Podcast.
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Episode Breakdown:
00:00 – Intro
01:33 – What to do when the buyer doesn’t provide a deposit
03:32 – Withdrawing Offer/ Deposit Story
10:51 – You want at least 5%
11:17 – Ramifications of not giving the deposit
14:34 – Conditional Contract
21:24 – Our job as a seller / Realtor
22:43 – What you should do
24:32 – Outro
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Watch the previous episode here
Catch clips and highlights of the show here
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The founders, Ariel Kormendy and Adrian Trott, started The Kormendy Trott Team, a real estate team based out of Halton region in Ontario, after both being in need of a change from their successful careers in the automotive industry and both experiencing the lack of service being provided in the real estate industry. They kicked off their careers in 2011 and quickly became a top-performing team in the country, ranking 17th of approximately 200 for Century 21 in 2017; as a team of just the two, compared to much larger teams. They decided that they needed to take their team from being real estate agents in Milton to the rest of the GTA and beyond by expanding and servicing more areas. The team has since grown to have an administrative arm, media department and successful sales team operating a smooth running and successful business. Follow them on social for behind the scenes info, real estate tips, industry secrets and more.
