Step by Step Guide to Selling

Step 1 – Selecting a REALTOR®

Selling your property is a complex procedure. There are plenty of resources on the Internet but just searching the Internet for “How to Sell Your Home” will not be enough. An efficient REALTOR® can simplify this procedure and guide you through the whole process. Even selecting a REALTOR® could be a cumbersome task as it is very important that you reach a level of trust and understanding with your REALTOR®. Hence I suggest a free, one-on-one, no obligation consultation with me to make sure I can fulfill all your Real Estate needs. If you decide to go ahead with me, we will discuss your needs and come up with a strategy to sell your home for the best price in the shortest possible time. I will ensure that you don’t make critical mistakes that can happen while selling your home.

Step 2 – Comparative Market Analysis (CMA)

On our initial consultation, I will have a look at your house and give you an idea of its value. I will also do a Comparative Market Analysis by assessing recently sold comparable houses and other comparable houses for sale in your area. Then considering the current Market Trends I recommend a price that you should list your house at.

Step 3 - Document & Material Preparation

You will need to obtain certain documents in order to sell your property. This could be a Real Property Report (RPR), receipts of any major work that you got done on the property, warranty documents. If you live in a condo, you will need all of the documents you received from the condo board or management company. I will assist you with obtaining these documents and any other documents.

Step 4 - The Listing Documents

I will go through the Listing Contract and ensure that you understand the details of it. The Listing contract is written to protect you as a Seller and me as a REALTOR®.

Step 6 - Marketing

I will discuss my marketing strategy with you and you can help me by mentioning all of the features of the house that convinced you to initially purchase it, because other buyers will likely feel the same way. The house will sell if the value exists and is perceived in the mind of the buyer, my job is to show that value to the Home Buyer.

Step 5 - Home Preparation

Getting your property cleaned and in good shape is the best and easiest investment you can make towards increasing the value of your property. Make sure any required repairs are completed and the house is well maintained and clean for the showings.

Step 6 - Showings

I understand that it can be hard for you to leave the house for showings but it is extremely uncomfortable for the Home Buyer if you are present during the showing. We need to give the Home Buyer a chance to virtually live in your house for a few minutes and that can only happen if you are not present. Make arrangements with your friends or neighbors to escape during showings. Or you can just idle outside in your car for a few minutes. Let me know if certain times do not work for you and I will arrange showings accordingly.

Step 7 - Strategy Assessment

After a couple of weeks on the market, I will have enough feedback to assess the effectiveness of my current marketing strategy, and it may be time to make some adjustments. I will discuss with you the proposed changes and implement them upon your approval. I will give you periodic updates about your listing. I will be proactive in making sure that your listing does not get stale.

Step 8 - Offer & Negotiation

I will contact you when a Home Buyer places an offer and we will set up a time to present you the offer. There could be some back and forth negotiations. Once both the parties agree on an offer, signatures will be required to finalize the agreement.

Step 9 - Conditions

It is very common for the offer mentioned in Step 8 to have conditions in it. The conditions could be from our side or from the Buyer. There could be unique conditions but the typical conditions are Buyer’s Financing and Home Inspection. A due date to remove the conditions is usually between 7 – 10 days. The shorter the condition dates, the better, but it is important to give the buyers a realistic amount of time to meet their conditions to save the headache of extensions later on.

Step 10 - Preparation for Possession

Once the conditions are removed, the house is considered “Sold” and you can start the preparation for possession. You will need to book an appointment with a Lawyer and fulfill any terms of the contract you agreed to, e.g. paint, clean etc.

Step 11 - Closing and Possession

Possession typically happens at 12:00pm (noon), unless otherwise agreed to in writing. It is best to have your furniture moved out the previous day, as some buyers like to do a walk through an hour or two before noon. Keys do not get released to the new owners until noon, and only if the money has been transferred to your Lawyer. Your Lawyer will notify me when keys are releasable. Typically your cheque will be ready a couple days following the possession day, and if you are buying a new home at the same time, the lawyers will handle any money transfers that need to happen.

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