Step 1: Deciding to Sell
The very first thing you should know is what the fair market value of your home is. Knowing what your home is worth not only because it can be a deciding factor in whether you want to sell it or not, but it also helps determine what you can buy after it is sold. Knowing What your costs are to sell the property will help you determine the right plan to action.
A market evaluation from a qualified realtor is the best way to determine how much you should list your home for and what it will likely sell at. This is an invaluable service that I offer to anyone who wants to find out their home’s worth. It is always free and there is no obligation to sign anything. A lot of homeowners are simply curious about their home’s value and aren’t sure if they want to list or not. I am 100% ok with that.
What about expenses? If you haven’t reached the end of your mortgage term there may be early termination fee. However, there is a way to work around this if you can transfer your mortgage to a new property. Other fees might include tax adjustments, lawyer fees, realtor commissions, and moving expenses.
Step 2: Listing Your Home
When you are ready to sell we will discuss your goals, time-frame, marketing plan, and answer any other questions you may have. There are three main documents involved with listing a property for sale:
- Working With a Realtor – This is not really a contract. It is simply a disclosure that all real estate agents must make to their customers and clients. It describes what is meant by “agency” and the different ways an agent can represent a customer or a client.
- The Multiple Listing Contract – The actual contract. This outlines the details of the property for sale, commission rate, dates, disclosure of personal information, what is expected of each party, and so on.
- The Property Disclosure Statement – This is a required document when listing a property for sale. Here you will disclose things like latent defects and other important information the buyer will want to know.
Step 3: Staging Your Home for Viewings
Image and first impressions are everything when it comes to selling a home. The average buyer knows within 3 seconds of walking through the front door whether or not they are going to buy your house. It is important to keep the place tidy and clean, remove clutter, and depersonalize the home as much as possible. You want to have a clean canvas for the buyer to picture themselves living there.
Step 4: Marketing Your Property
As a top marketer in the industry I have a proven system to market your property to the right buyers. A few of the marketing tools utilized are:
- For Sale sign
- MLS Listing
- Advertising on MLS.com, RoyalLePage.ca, SalmonArmProperties.com, RoyallePageAccess.ca, as well as most other realtor’s personal websites
- Advertising on Kijiji, Facebook, Twitter, and Google+
- Professional Photography
- Open Houses
- Office Tours
- Sales Meetings
- Direct Mail Advertising
Step 5: Contract of Purchase and Sale
The fun part. an offer comes in! We’ll go over the contract and I’ll explain in simple terms what everything means. I’ll focus on points of interest to you and suggest ways to proceed. You don’t have to accept the offer if you don’t like it and you can even counter-offer for a higher price. Having me as a top negotiator at this point will save you a lot of money!
Step 6: Closing the Sale
Once an offer is accepted it will most often be a conditional offer. This means the contract isn’t binding until certain conditions are met. An example of this would be a “financing condition” which gives the buyer time to arrange financing. If their financing falls through the sale does not proceed and we look for a new buyer. Once all conditions are met it would now be called a “firm” sale meaning the buyer cannot back out. Now we wait for the closing date where the new owner’s name is registered on title. The Possession date is when they can actually move in. If you are buying a new home as well I would make sure the Possession dates match up so that you can move into your new place on the same day.