This site uses cookies.

The types of cookies we use, and the way we use them, are explained in our Privacy Policy. By clicking "Accept" or continuing to use our site, you agree to our use of Cookies.
More information


Sellers

Your Guide to Selling Your Home

Expert guidance can help your home sell faster and for a higher price.


 Prepare your Home for Selling

De-clutter and depersonalize your space to achieve the broadest appeal

  • Arrange furniture to make rooms appear as spacious as possible
  • Fix up any noticeable repairs, cracks or chips
  • Increase curb-appeal by tidying up the front of your house; remove garbage cans and recycling boxes
  • Create a comfortable mood for showing with relaxing music, maximum lighting and by adding plants and flowers.


 Marketing your Home

Ask Ann to provide a personalized marketing plan for your home

  • Have your listing on MLS and www.royallepage.ca
  • Ann will showcase your property with print and web-based marketing tools including property feature sheets and web commercials.


 Pricing your Home

Understand current marketing conditions

  • Ask Ann for pricing on comparable homes in the neighbourhood
  • Understand the marketability of your home’s location, size, style and condition
  • Ann will work with you to develop a pricing strategy that will sell your home in the shortest amount of time at the best possible price.


 Negotiating Offers

Make sure you consider all elements of the offer

  • Ann will clarify the offer, including price, deposit, financial terms, inclusions and exclusions, and the closing or possession date
  • Ann will set a course of action for any counter-offer terms such as adjusting the offer price, inclusions and exclusions, the closing date or removing conditions.


 Closing

Hire Professionals to represent your interests

  • Meet with your lawyer to sign closing documentation, discharge any mortgages, transfer the deed and provide keys for the buyer
  • Obtain estimates from reputable moving companies
  • Contact utilities to have meters read on closing day and coordinates cancellations, transfers, new services and change of address notification.


 Understanding Market Conditions

The Real estate market is always changing and it helps to understand how market conditions can affect your position as a buyer.

MARKET CONDITIONS

CHARACTERISTICS

IMPLICATIONS

Buyer’s Market:

The Supply of homes on the market exceeds demands.

High inventory of homes. Few buyers compared to availability. Homes on the market longer. Prices tend to drop.

More Time to look for a home. More negotiating leverage.

Seller’s Market:

The number of buyers wanting homes exceeds the supply or number of homes on the market.

Smaller inventory of homes. Many buyers. Homes sell quickly. Prices usually increase.

May have to pay more. Make decisions quickly. Conditional offers may be rejected.

Balanced Market:

The number of homes on the market is equal to the demand or number of buyers.

Demand equals supply. Sellers accept reasonable offers. Homes sell within an acceptable time period. Prices generally stable

More relaxed atmosphere. Reasonable number of homes to choose from


 The Benefits of Pricing Right

  • Your property sells faster, because it is exposed to more qualified buyers
  • Your home doesn’t lose its marketability.
  • The closer to market value, the higher the offers.
  • A well-priced property can generate competing offers.
  • Real Estate Professionals will be enthusiastic about presenting your property to buyers


 Determining the Value of Your Home 

The Market ultimately determines the true value of your property.

A comparative market analysis is an indicator of what today’s buyers are willing to pay for homes similar to yours in your neighbourhood. Those that have recently sold represent what buyers are prepared to pay. The homes currently listed for sale represent the price sellers hope to obtain. And those listings that have expired were generally overpriced or poorly marketed.


 The Result of Overpricing

Many sellers believe that if they price their home high initially, they can lower it later.

Often, when a home is priced too high, it experiences little activity. Gradually the price will come down to market value, but by that time it has been for sale too long and some buyers will be wary and reject the property.

You may think that interested buyers can always make an offer, but if the home is overpriced, potential buyers looking in a lower price range will never see it.


 The Importance of Early Activity

As soon as a home comes on the market, there is a flurry of activity surrounding it. This is the crucial time when real estate professionals and potential buyers sit up and take notice.


 Agree on a Marketing Plan

Your property is not something you sell everyday. In fact, for many people it is their largest asset. A house is very complex to market and the process needs to be well organized. To do the job properly a plan is needed.

Ann can prepare a personalized plan for you containing all activities intended to market your property. At Royal LePage, your property will be aggressively promoted through Royal LePage’s own property advertising publications and Internet site, other Royal LePage offices and Real Estate Professionals and the MLS information.


 Signing a Listing Agreement

The first formal step in marketing your property is to enter into a listing agreement – a contract that commits Royal LePage to actively market your home for a specified period of time

We may require the following documents:


Plan of Survey or Location Certificate

A Survey of your property which outlines the lot size and location of buildings as well as details of encroachments from neighbouring properties. This may be required in certain areas to complete the sale of your home. Your legal professional may recommend that you obtain a survey, especially if significant changes have been made to your property


Property Tax Receipts

Most listing agreements require that the current annual property tax assessments be shown.


Mortgage Verification

Few homeowners know the exact balance on their mortgage as it is paid down. You will be asked to authorize your mortgage lender to provide the figures required.


Deed or Title Search

This document is a legal description of your property and proof that you own it.


Other Documentation

In some instances, it may help the sale of your property if you can provide prospective buyers with information on such items as annual heating, electrical, and water expenses, as well as any recent home improvement costs.


 The Major Elements of an Offer

Price

Depends on the market and the buyer, but generally, the price offered is different from the asking price.


Deposit

The deposit shows the buyer’s good faith and will be applied against the purchase price of the home when the sale closes. Ann can advise you on the suitability of the amount of the deposit being offered.


Terms

Includes the total price the buyer is offering. The buyer may be arranging his/her own financing or may ask to assume your existing mortgage of you have an attractive rate.


Conditions

These might include subject to home inspection or subject to the buyer obtaining financing


Inclusions and Exclusions

These might include appliances and certain fixtures or decorative items such as window coverings or mirrors.


Closing or Possession Date

Generally, the day the title of the property is transferred to the buyer and funds are received by the seller, unless otherwise specified.

Powered by Lone Wolf Real Estate Technologies (CMS6)