From the team at O’Keefe 3% Realty – Serving Vernon & the North Okanagan

Buying or selling a home often comes with a lot of questions. The good news? You’re not alone — many people ask the same things!

🔍 1. Why is a home inspection important?

A home inspection can uncover hidden issues (such as roof, plumbing, and heating) before you commit. It’s peace of mind — and sometimes leverage in negotiations. If a major issue is found, you may consider negotiating repairs, price adjustments, or simply walking away if it's not worth the risk. Even if your lender doesn’t require one, a home inspection helps you uncover hidden issues before you commit.

📝 2. Can a seller reject my offer?

Yes. Common reasons: price too low, too many conditions, or timing issues. The good news: smart negotiation can often bridge the gap. As your agent, we can help tailor your offer in ways that keep it competitive yet protect your interests.

📊 3. How do REALTORS® determine value?

• Location (neighbourhood, street, view, proximity to amenities).
• Size and usable space of the home.
• Age & condition — how well-maintained is it, what updates have been done.
• Recent comparable sales in similar neighbourhoods.
• Market demand — is supply tight or abundant right now?

We combine all those with local insight to arrive at a competitive, realistic value.

✅ 4. What’s a conditional sale?

A conditional sale is one that depends on certain things happening first. Common conditions include:

• Home inspection
• Mortgage/financing approval
• Title or insurance requirements
• Seller or buyer obtaining certain approvals

If any of the conditions aren’t met, the deal may be voided, and deposits returned. Conditions protect you as a buyer.

⏳ 5. How long does it take to sell a home?

There’s no one-size-fits-all answer — but here in Vernon & surrounding areas, time on market depends on:

• How aggressively it’s priced – an overpriced listing will significantly increase the time on market
• The condition of the home – a well-maintained home with modern features is definitely more attractive to buyers
• Supply and demand –  a seller's market, characterized by low supply and high buyer demand, leads to quicker sales. Whereas, a buyer's market with high inventory and low demand slows things down. 

Sometimes homes sell quickly (a few weeks); others take several months, especially if they need upgrades or are priced above similar listings.

🌸 6. When is the best time to sell?

Traditionally, spring through early summer is active. But “best time” also depends on your situation:

• Are you in a rush?
• Do you want the highest price vs quickest sale?
• What improvements might be needed before listing?

Even in slower seasons, a well-presented home with smart pricing can attract great offers.

💵 7. What do I need to qualify for a mortgage?

• Steady income
• Good credit
• Down payment
• Manageable debt levels

We can introduce you to trusted mortgage professionals here in Vernon to help you get pre-approved, which helps when house hunting.

💰 8. How much down payment is required?

Generally in Canada:

• 5% for homes up to a certain price point
• For more expensive homes, a higher down payment is required on the portion above that threshold

If you’re buying an investment property, or something like a second home, you’ll often need 20% down or more.

🚪 9. How long does buying take?

From deciding to buy → making an offer → closing → moving in — it can take anywhere from a few weeks to several months. Factors that stretch the process:

• Conditions in the offer (inspections, financing)
• How long the seller needs to vacate or for possession
• How efficiently work by lawyers/notaries proceeds

Having a REALTOR® to guide you through the steps helps avoid delays.

🏗️ 10. Do I need a REALTOR® for new builds?

You don’t legally need one — but it’s wise to have one! Builder reps work for the builder, not you. Having us on your side means contracts & conditions that protect you. Commission often comes from the builder, so it’s typically “free” from a buyer’s perspective.

🤝 11. Why work with a REALTOR®?

Working with a good REALTOR® brings a lot of value:

• Local expertise
• Negotiation skills
• Trusted network
• Peace of mind from start to finish

We’re committed to being that partner for you.

💡 12. Tips for selling at a better price

• Declutter & clean
• Fix or refresh key areas
• Boost curb appeal
• Stage & photograph professionally

Our top advice for sellers: price your home realistically. Overpricing often results in extended time on market and chasing prices downward.

📞 Let’s Talk Vernon Real Estate!

The Vernon area real estate market has its own rhythms, values, and quirks. Whether you're buying or selling, it pays to lean on local expertise. If any of these questions resonated with you — or if you have others — we’re always here to help.

Want to chat about your home’s value, what the market’s doing in your neighbourhood, or whether now is a good time to make a move? Give us a call, drop us a message, or stop by.

👉 Call us at 250-545-9039
👉 Visit us at okeefe3.com

O’Keefe 3% Realty – Fair Commission. Full Service. Local Experts.