If you are thinking of selling your home, read these 10 steps in helping you make an informed decision. Selling can become an overwhelming task if you're not familiar with the process. These 10 steps will help bring 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. Economic considerations are another, just as influencing! Give us a call to discuss your timing expectations.
2. Find A Realtor Who Is Right For You. Look for Realtors who have experience (like us, 25+ years!) and a successful track record. Dont be afraid to ask questions, interview the candidates. Good Realtors will know the market well, supply you with relevant information on past sales, current listings and be able to provide letters of recommendation from previous clients. They should also have a solid marketing plan with an idea of how much your home's value is, with evidence to back it up. Most important, you must feel comfortable and know the Realtor has a genuine interest in helping you succeed! Selling your home is not something you would leave to chance, the same applies when making your choice of Realtors.
3. Sign 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 and every detail and limits of the Realtors authority. b) It provides detailed information on the home to be posted on the boards Multiple Listing Service. c) It forms a basis for drafting offers on your home. Formal offers look to the Listing Agreement as the basis to draw up the offer.
4. Set Your Price. You want to attract buyers! The right asking price will attract not deter them. There are many factors affecting the market, interest rates may be affecting peoples willingness to take out mortgages, number of homes for sale can determine an under or over supply, directly affecting values. We will do a comparative Market Analysis (CMA) on homes for sale, recently sold, and expired in your area. This will demonstrate your value and we would suggest a "list" price, based on attracting a solid value offer within an expected period of time for the market.
5. Find A Lawyer. You need to a lawyer or notary to do your conveyance; it's where the transfer the title of the property takes place. 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 give your home a mini make-over. Its the little things you can do to attract an offer. Buying a home is emotional and a well presented home brings those emotions out! Get rid of all clutter, clean everything, repair what you can within reason, add some beautifying touches like new door handles on cupboards and perhaps even paint. Use subtle scents for effect.
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. Our marketing plan will outline the system we adhere to in selling a home. Here you will find step by step how we will help you achieve your goals. We use systems of marketing from traditional methods to MLS, our own websites and social networking. Our company's massive exposure is also employed to suppliment the overall effect.
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 capitol gains tax apply to you? Talk with your mortgage broker and perhaps your accountant to see what applies. Know your financial position prior to receiving offers!
9. Offers! Lets Look At Offers. We will assist you through the process, and help you negotiate the offer. There may be 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, our negotiation skills. Dont be offended if the offer is well below the asking price. Instead, evaluate it for what its worth and counter back. Successful negotiation is an art we have been trained in and because its highly emotional for you, we're here to guide and assist you through with success.
10. Close The Deal! Excellent, negotiations are successful and we have now have a "Firm" contract. The vital steps now are, A) To inform 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 lending institution and get an estimated payout on 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 just gone through the process in selling your house! We are please to have helped!