If you are thinking of selling your home, before you become overwhelmed at the task we need to discuss 10 steps that will help bring you the objective of making this process easier on you.
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 get you in the right direction.
2. Find A REALTOR® Who Is Right For You. Think locally as they will know your area. Don't 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 how much your home should go for. If you feel comfortable with us and see that we have a genuine interest in helping you then you are on the right track.
3. Authorize A Listing Agreement With Us. It authorizes the licensee and the brokerage to market and sell your home. The agreement serves three purposes. a) It defines our relationship and every detail and limits of your REALTOR's® authority. b) It provides detailed information on the home which can be posted on the Real Estate Board's Multiple Listing Service. 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) to the homes recently sold, active and expired in your area and we will set the price.
5. Find A Lawyer. You need to find a lawyer to do your conveyance; 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 get 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 at most benefit to you and your success. We will use combinations of marketing from traditional media to MLS®, our own websites and networking. Open Houses for REALTORS® and the public can also be very beneficial.
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 us, the negotiation skills. Don't be offended if your offer is well below the asking price. Instead, evaluate it for what its worth and counter back. Successful negotiation is an art, we are here to guide you through with success.
10. Complete The Transaction! Excellent, negotiations are successful and we have time for the most vital steps now. A) Contact your lawyer and let them know that an Agreement has been reached. 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 us immediately if there are any changes to your property or situation.
Congratulations!!! You have sold your house!