Selling a home is not a simple process. It involves large sums of money, stringent legal requirements and the potential for costly mistakes. I will spend the time it takes to help you sell your home in the least amount of time and for the best price possible.
1. Setting Your Price
How much should you ask for? Although you may have an idea of how much your house is worth, it’s important to have your home valued on its own merits by a professional. Be careful not to price your property too high or too low. If it’s too high, there’s no sale; too low and you lose on your investment.
I have the expertise to assess at what prices similar properties in your area have sold, and may be able to help you in this regard. I can also provide information on market history, such as the number of properties sold in your community the previous month or year.
2. Listing and Marketing Your Property
If your listing is an MLS® listing, your REALTOR® will place your listing on a real estate board’s MLS® System. Through the board’s MLS® System, all other REALTORS® that are members of that board can find and view information about your property, and all have the opportunity to sell your property. Your property gains more exposure, because it reaches the majority of the real estate professionals in your community. And through REALTOR.ca, the national property website that gets more than a million unique visitors per month, your property is advertised to potential buyers across Canada and around the world.
3. Open Houses
There are two types. First is an agent’s open house, where sales representatives from the listing company will be invited to view your house. Each of these REALTORS® may have a prospective buyer.
The second type of is a public open house, where members of the public are invited to walk view your home. It’s an efficient way to show your home to many potential buyers at once. Your agent will act as host, answering any questions.
4. Waiting For the Right Opportunity
Sometimes a home doesn’t sell right away. Avoid the urge to pull your home off the market. Be persistent! Generally, there are three reasons why a home may not sell as fast as others: location; condition; and asking price.
Obviously, you can’t change your home’s location. However, you can improve the condition of your home and you can, of course, adjust your price. Throughout the listing process, you need to be constantly comparing your asking price against those of similar properties in your area. Review your selling strategy regularly with your listing agent, who may help you answer the following questions:
Is your house being shown regularly?
Are you receiving the feedback from prospective buyers?
Are you in touch with the marketplace?
Is your property competing well? If not, what else can you do?
5. Accepting an Offer
Once a buyer is found, you’ll receive an offer that will:
Detail the buyer’s price
Specify any conditions that may apply or be attached
State desired date of possession
The date the offer expires
As an act of good faith, the buyer will make a deposit with the offer. You don’t have to accept the offer as is. You may wish to make a counter offer that meets the original offer partway. The counter offer is one more step along the way to negotiating the final terms and conditions of the sale.
The offer, once signed by everyone, is a binding contract. Make sure you understand and agree to all of the terms in the document. Before signing, you may want your lawyer to review it. Your lawyer should also ensure that you receive compensation for prepaid expenses such as, property taxes, electrical or gas bills, or if applicable, any heating oil left in your tank.
After these are paid, you will receive any money you have coming from the sale.