Thinking about Selling?
If you are thinking about selling your home, and are feeling a bit overwhelmed at the task, you are not alone. The following 10 steps will hopefully help you with getting things started.
1. Determine Why And When You Would Like To Sell
Motivation plays a critical factor in determining what course of action you need to take. Spring is typically a faster paced season to sell and winter tends to be a little slower. Regardless, there are always people looking to buy and seasons are only one factor to consider. Give us a call. We will be able to help guide you in the right direction.
2. Find A Realtor Who Is Right For You
Dont be afraid to ask questions, interview the candidates. A good Realtor will know the market well, supply you with information on past sales, current listings and his/her background form previous clients. They should also provide a solid marketing plan which should indicate the price range in which your home should sell for. If you feel comfortable with Realtor, and see that they have a genuine interest in helping you, then you are on the right track.
3. Approve a Listing Agreement With Us
It authorizes us and our brokerage to market and sell your home. The agreement serves 3 purposes: a) It defines our relationship in every detail and outlines the limits of your Realtors authority, b) It provides detailed information on the home which can be posted to the board's Multiple Listing Service and c) It forms a basis for drafting offers on your home.
4. Set Your Price
You want to attract buyers, the right asking price will attract not deter. We know the factors affecting the market. For example: Your neighborhood may be under development with larger families and houses, there may be a large company opening up bringing jobs and a demand for housing in general, interest rates may be affecting peoples willingness to take out mortgages. We will do a Comparative Market Analysis (CMA) of the homes recently sold, and also discuss the currently active and recently expired listings in your area.
5. Find A Lawyer
You need to find a lawyer to do your conveyancing; its where they transfer the title of the property to your name. Ask them how they structure their fees and get an estimate of all other costs you can expect.
6. Prepare Your Home For Viewing
Get your mop, vacuum, tool belt & paint brush and lets give your home a mini make-over. It's the little things you can do to attract an offer. Get rid of the clutter, clean everything, repair as much as you can within reason, add some beautifying touches like new door handles on cupboards and perhaps even paint.
7. Let Us Market Your Home
This is our expertise and this is where we can be of most benefit to you and your success. We have an extensive marketing plan designed to attract Qualified Buyers. The marketing plan is too extensive to discuss here but it includes, combinations of marketing from traditional media to MLS, our website and networking, open houses for Realtors and the public and much more.
8. Prepare Your Finances
Is your mortgage portable without any penalties? Can the buyer assume your mortgage? Can you discharge your mortgage without any penalties? Does capital gains tax apply to you? Talk with your mortgage broker and perhaps your accountant to see what applies.
9. Offers! Lets Look At Offers
We will walk you through the process, you will see every offer. There may be some conditions you may want to change; we will discuss each and every detail. This is one of the most important tasks and reasons you have hired me, the negotiation skills. Dont be offended if your offer is well below the asking price. Instead, evaluate it for what it's worth and counter back. Successful negotiation is an art and because it's a highly emotional time we'll be there every step of the way to guide you through with success.
10. Close the Deal
Once subjects have been removed and you have a firm contract of sale, its time to take the next series of vital steps. A) Contact your lawyer and let them know an Agreement has been signed. B) Immediately begin satisfying any conditions that require your actions to complete C) Notify the lawyer and lending institution if the buyer is assuming your mortgage D) Contact utilities, telephone and cable companies about transfer or removal of service E) Call insurance agent and arrange cancellation or transfer of your homeowners insurance F) Call a moving company G) Send out change of address cards including Ministry of Transportation for your BCDL etc. H) Notify me immediately if there are any changes to your property or situation.