image: courtesy of myhomeagent.ca
Selling your home
While the prospect of moving can be an exciting time of change, it can also be a little confusing when you get right down to it. There is a lot that goes in to selling a home. Below is a checklist to help you stay on track and hopefully make the process a little less complicated.
Determine when to sell
Deciding when to sell is important. Look at the market. Is it a “buyers market” or a “sellers market”? Perhaps you need to make a quick move, or maybe you can wait until the market picks up. Many buyers do not want to move in January. A Realtor like myself can help you strategize when would be the best time to put your home on the market.
Make small fixes
Making small fixes can make your home sell much faster. Look at your home from a buyers eyes. Having a leaky faucet or broken front step will turn potential buyers off. By fixing the flaws, you are giving your home a competitive edge amongst other homes for sale.
Find the right Realtor®
Finding the right agent to list with is paramount. Make sure the agent you chose is someone you feel comfortable working with. Ask them about their marketing plan. How do they plan to help you sell your home as quickly as possible?
Sign a Listing Agreement
A Listing Agreement is a contract which allows your Realtor and their brokerage to market and sell your home. It defines the legal relationship between you and the real estate brokerage, and also sets a time limit for selling your home.
Decide on your asking price
Determining your home’s asking price is crucial. Asking too much will scare off potential buyers and likely cause your home to sit on the market for an extended period of time. However, asking too little will lose you a lot of money. One of the benefits of working with a Realtor such as myself, is the free market analysis that I can provide for you. I can show you what homes in your neighbourhood are currently listed for, as well as recent sales. Together, we can determine a price that gives you the highest possible return while remaining competitive with other homes currently listed.
Find a lawyer
Having a lawyer on hand can make the sale of your home a smooth process. There is a lot of paperwork associated with selling your home, such as title insurance, land transfer tax and disbursements. A lawyer can explain the Offer to Purchase and ensure that your best interests are protected. I can provide you with a list of recommended lawyers who specialize in real estate.
Prepare your home for sale
One of the best ways to sell your home quickly is to have it show well. This includes decluttering your home. Throw away or donate items you no longer use. This not only helps your home look clean and tidy – the rooms larger, but also helps when it is time to actually move. Paint your walls a neural colour and take down wall furnishings. You want the buyer to imagine themselves living there, not you. Don’t forget curb appeal. Remember to cut the grass regularly, weed the garden and take away any unnecessary debris from the yard. Having a clean, welcoming front entrance is the first step to getting buyers through your door.
Let me do what I do best!
Now that it’s ready to show, it’s time for me to market your home. Through advertisements in flyers, on the internet and social media, putting a “For Sale” sign on the lawn, listing on MLS, holding Open Houses, my relationships with other Realtors, and belonging to the largest brokerage in Fredericton, I can help you sell your home fast.
Prepare your finances
Decide whether you will be “discharging” you mortgage or whether the buyer will be “assuming” it. If you are discharging it, you will use the profits from selling your home to pay off the existing mortgage. If you have a “closed mortgage”, be prepared to pay a penalty. With some lenders, there is the option for the buyer to “assume” your mortgage. This can be attractive to buyers if current interest rates are higher than your interest rate. Talk with your Realtor, mortgage lender and lawyer to ensure you are aware of all the costs associated with selling your home.
Receive an offer
Receiving an offer can be both stressful and exciting. I will review with you every offer that is submitted. An offer will tell you what the buyer is willing to pay and under what conditions. It will be your decision whether you want to accept, counter or reject the offer. You may choose to consult with your lawyer before accepting.
Close the deal
Congratulations! You have accepted an offer! Make sure you notify your lender and lawyer. I will help you satisfy any conditions that need to be met on your part prior to closing. On closing day your lawyer will finalize your paperwork and give you a cheque for profits from the sale.
Hamel Realty, 2013