- Status:
- Active
- Prop. Type:
- Commercial
- MLS® Num:
- SK003479
- Bus Major:
- Restaurant
- Photos (17)
- Schedule / Email
- Send listing
- Mortgage calculator
- Print listing
Schedule a viewing:
- Listing Area:
- Saskatoon
- Listing Subarea:
- Sutherland
- Property Type:
- Commercial
- Property Sub Type:
- Business Brokerage
- Year built:
- 1988 (Age: 37)
- Total Floor Area:
- 920 sq. ft.
- Ownership Title:
- Leasehold
- Business Type:
- Restaurant
- Elevator:
- None
- Assets Include:
- Equipment & Machinery, Goodwill
- Heating:
- Roof Top H/Vac
- Construction:
- Wood Frame
- Occupancy:
- Owner
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- Listings on market:
- 78
- Avg list price:
- $350,000
- Min list price:
- $46,800
- Max list price:
- $14,600,000
- Avg days on market:
- 102
- Min days on market:
- 2
- Max days on market:
- 339
- Avg price per sq.ft.:
- $163.18
- CHAD OKRAINETZ
- COLDWELL BANKER SIGNATURE
- 1 (306) 220-6272
- Contact by Email
Frequently Asked Questions
General Frequently Asked Questions
What is a “Buyer’s Market”?
A buyer’s market occurs when there are more available properties than there are buyers. This situation puts buyers in a favorable position, as it provides them with more options and a stronger negotiating stance when it comes to making an offer.
What is a “Seller’s Market”?
A seller’s market occurs when there are more interested buyers than available properties. In this type of market, sellers find themselves in a stronger negotiating position. Typically, a seller’s market leads to multiple offer situations, higher prices, and homes selling more quickly.
What is a “Balanced Market”?
A balanced market refers to a condition where the supply of homes for sale and the demand from buyers are relatively equal. In this type of market, neither buyers nor sellers have a significant advantage over the other, resulting in more stable prices and a smoother transaction process.
What is the “MLS”?
MLS stands for Multiple Listing Service. It’s a database where REALTORS® submit their properties so that they can be shared among all REALTORS® and publicly online. You can Search Listings on my website and stay informed about current market conditions by subscribing to my Market Report.
What is the difference between a REALTOR® and a brokerage?
A REALTOR® is an individual licensed to assist with buying and selling properties, while a brokerage is the business entity that employs these REALTORS® and provides them with the support and resources needed to effectively conduct real estate transactions.
Buyer Frequently Asked Questions
Why use a real estate agent when buying a home?
Using a REALTOR® when buying a home is highly advisable for several reasons.
- Expert Guidance
A REALTOR® brings valuable knowledge of the local market, including current trends, neighborhood information, and pricing strategies. They can provide insights that you may not have access to as a buyer. - Access to Listings
REALTORS® have access to Multiple Listing Services (MLS), which provide up-to-date information on available properties. This access means you can find homes that meet your criteria as soon as they hit the market, often before they are seen by the general public. - Negotiation Skills
A REALTOR® can negotiate effectively on your behalf, helping you secure a better price and favorable terms. They understand the intricacies of negotiating and can advocate for your interests. - Navigating the Process
Buying a home involves a significant amount of paperwork, coordination, and various procedures. A REALTOR® can help guide you through each step, ensuring that you don’t miss important details along the way. - Connections to Professionals
REALTORS® have a network of trusted professionals, such as mortgage lenders, inspectors, and lawyers. They can provide referrals to reliable experts who can assist you at every stage of the process. - Understanding Market Value
A REALTOR® can help you determine the fair market value of a property, reducing the risk of overpaying. They can provide comparable sales data and insights on market conditions that will help you make informed decisions. - Handling Complications
The home-buying process can come with unexpected challenges, such as negotiation setbacks, appraisal issues, or inspection findings. A REALTOR® can navigate these hurdles and provide solutions, supporting a smoother transaction. - Client Advocacy
A REALTOR® is your advocate. They prioritize your interests, ensuring you are informed and comfortable with every decision while standing ready to protect your rights as a buyer.
What is a mortgage pre-approval?
The first step in the process of buying a home is understanding what you can afford. Obtaining a pre-approval involves contacting your local bank or a mortgage broker to help determine your appropriate purchase price. Whether to choose a bank or mortgage broker is a matter of personal preference. Please Contact Me anytime, I am happy to help in selecting a few to interview.
What is an offer on a home and how does it work?
If you want to buy a home, you and your REALTOR® can submit an Offer to Purchase. The offer has details including but not limited the price you’re offering (which could be the asking price, a higher price, or a lower one), any conditions or terms you wish to include, and a desired possession date. Submitting an offer doesn’t guarantee that you will be successful in buying the home, because your offer must be accepted by the seller.
Can you put conditions on your offer to buy a home?
Yes, it is possible to include several conditions in your offer, such as a satisfactory home inspection, obtaining mortgage approval, selling your current home, and more. Including conditions in your offer is important because it provides a safety net during the purchasing process. This allows you to conduct necessary due diligence and make informed decisions without taking on unreasonable risk. However, it’s worth noting that adding an excessive amount of conditions can make your offer less attractive to sellers, especially in a competitive market.
What happens once I submit an offer?
After submitting an offer, we will likely need to negotiate. While the price may be one factor, other items open for negotiation include the deposit, inclusions, conditions, terms, and possession date. Once both parties reach an agreement, the offer is conditionally accepted, and the buyer will have a specified period of time to remove conditions as agreed to in the contract (e.g., completing a satisfactory home inspection or securing financing).
Can a seller reject my offer?
Sellers are not obligated to accept an offer. There are several reasons why a seller may not find an offer acceptable, such as the price, closing date, conditions, and terms in the offer. Sellers may choose to counter the offer or politely decline if the gap is too significant.
Why do homes sell for above asking price?
Homes may sell for above the asking price for several reasons, primarily driven by market conditions, buyer behavior, and the specific characteristics of the property. This can be attributed to high demand, low inventory, and the location or condition of the property.
What does it mean if the home I want has multiple offers?
This occurs when a seller receives offers from multiple potential buyers for their property at the same time. This scenario is common in competitive real estate markets where demand exceeds supply. The seller can review all offers and choose one to proceed with.
What is a home inspection when buying a home?
A home inspection is a visual examination of the condition of the major systems of the home. Its goal is to identify and report on any significant issues. A typical inspection takes about 2-3 hours to complete, depending on the size and the complexity of the home. The home inspection will be accompanied by a written report that documents the inspector’s observations. While the home inspection is designed to minimize risk, it cannot eliminate it entirely. The inspection report is just one of the factors to consider when making your final decision.
What are some general tips for buyers?
A few tips to consider include: obtaining a pre-approved mortgage amount so you know how much you can afford, shopping within your budget, keeping expectations realistic (no home is perfect), being flexible and open minded, and listening to the guidance of your REALTOR®. Timing is also a critical factor; homes can sell very quickly, and if a rare gem comes on the market, it’s unlikely to last long.
Seller Frequently Asked Questions
Why use a REALTOR® when buying a home?
Using a REALTOR® when selling a home is highly advisable for several reasons.
- Expert Market Knowledge
- Pricing Strategy: A REALTOR® has access to market data and can perform a comparative market analysis (CMA) to help you price your home competitively based on current market trends and comparable sales.
- Understanding Market Conditions: Agents have insights into local market dynamics, including buyer preferences, seasonal trends, and neighbourhood statistics.
- Effective Marketing
- Exposure: REALTORS® have access to the Multiple Listing Service (MLS) and a network of potential buyers and other REALTORS®, increasing the visibility of any home.
- Professional Marketing Materials: REALTORS® can create high-quality listings with professional photography, access to staging, and appealing descriptions to attract more buyers.
- Negotiation Skills
- Professional Representation: REALTORS® are trained negotiators who can advocate on your behalf, skillfully negotiating offers and counteroffers to achieve the best possible outcome for you.
- Handling Difficult Situations: A REALTOR® can navigate complex negotiations, including terms of the deal.
- Managing the Selling Process
- Guidance Through Paperwork: Selling a home involves considerable paperwork and legal documentation. A REALTOR® ensures that all contracts and disclosures are completed accurately, reducing the risk of mistakes.
- Assistance with Showings and Open Houses: REALTORS® can manage viewings, schedule open houses, and handle communication with prospective buyers, streamlining the process for you.
- Access to Professionals
- Network of Contacts: A REALTOR® can recommend trusted professionals, such as inspectors, appraisers, and contractors, ensuring you have a reliable team to assist during the selling process.
- Time Savings
- Focus on Your Life: Selling a home can be time-consuming. By hiring a REALTOR®, you can focus on your personal and professional life, knowing that a skilled professional is managing the sale on your behalf.
- Handling Offer Evaluation
- Assessing Offers: REALTORS® can help you evaluate offers based on various factors, including price, conditions, buyer qualifications, and closing timelines, ensuring you make informed decisions.
- Closing Support
- Assistance at Closing: A REALTOR® will help you navigate the closing process, ensuring that all documentation is completed and that the transaction runs smoothly.
I have heard the term “CMA” a lot. What does that stand for?
CMA stands for “Comparative Market Analysis”. This report is prepared by a REALTOR® for clients who are looking to sell their home. This document is based on various factors such as recently sold properties in the area, features of those properties, features of your property, size of the properties, and the age of the properties, among other things. After completing thorough research, a REALTOR® will compare your property to the other properties in assisting you with determining an appropriate list price.
How do you get your home listed on the MLS?
The MLS is one of many tools and resources that REALTORS® have at their disposal. To get your home listed on the MLS, you need to work with a REALTOR®.
What is the purpose of a listing agreement?
By signing a listing agreement, you are authorizing a REALTOR® to act on your behalf in marketing your property and negotiating a sale. It is important to have a signed listing agreement with any REALTOR® you hire to ensure that all obligations and expectations are clearly defined and agreed upon by both parties.
Should you have professional photos when selling a home?
Yes. People absorb a significant amount of information visually, and in this digital age, imagery is incredibly important. As many people browse homes online, the quality of pictures you use can influence the priority that buyers assign to your property. This, in turn, translates into the amount of attention you receive and ultimately affects the sale price.
Should you declutter and depersonalize your home before selling?
Yes. Decluttering and depersonalizing are easy and effective way to increase the visual appeal of your home. This can have a tangible impact on how buyers perceive your home and how much they are willing to pay for it.
Should you have your home professionally cleaned before selling?
Similar to decluttering and depersonalizing, a clean home is crucial for welcoming and enticing buyers. A professional touch can make all the difference. That said, unless the situation specifically calls for heavy-duty cleaning, you don’t have to spend a lot of money on it. Simply ensure sure that your home is clean and welcoming.
Should you renovate your home before selling?
This is a question that many people ask frequently. The answer is yes, but there is no need to overdo it. Less is definitely more when it comes to renovations. Addressing maintenance issues and making small fixes can go quite a long way and yield the highest return. It’s not always necessary to completely redesign the house, something as simple as a fresh coat of paint can work wonders.
How should you prepare your home before showings?
It is critical that your home be in the best possible shape for showings in order to demand top dollar. Both the interior and exterior of your property are important. Curb appeal can significantly determine whether a potential buyer decides to view your home in the first place. Additionally, it is vital to declutter and depersonalize the interior of your home and pay attention to details.
What is a conditional sale?
A conditional sale occurs when the buyer and seller have an agreed upon offer to purchase that contains specific conditions. These conditions will have a designated date by which they must be removed for the sale to become final. If the conditions are not removed at the agreed upon date and there is no extension granted, the deal becomes null and void, and the deposit is returned to the buyer.