Selling your home doesn't need to be an overwhelming task. The following 10 STEP GUIDE will make the process easier.
1. Determine Why And When You Would Like To Sell.
Motivation plays a critical factor in determining your course of action. Current interest rates are always an important factor, as well as the general economic climate. Seasons may also be of some importance, as Spring, Summer and Fall are more appealing times to buy and sell. Midwinter with pouring rain or a good Canadian blizzard tend to make marketing a home a bit more challenging -- unless of course, we're heading up to Whistler! Be realistic and practical when making this critical decision about your most important asset, and remember, whatever the influences and challenges -- it just takes that one special Buyer and you home is SOLD!
2. 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 your accountant to see what applies.
3. Prepare Your Home For Viewing.
Get your mop, vacuum, toolbelt & paint brush and give 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 such as new door handles on cupboards, fresh paint, and colourful plants for garden, and patio. Make the entrance to your property and home inviting so the Buyer is anxious to come inside to see more!
4. Review a Comparative Market Analysis (CMA).
I will prepare a Comparative Market Analysis for your property, which will be specifically tailored to your unique neighbourhood, and the special features of your home. It will provide up to date local market information such as Active Listings and Recent Sales, zoning regulations, and neighbourhood influences. Details contained in this CMA will help us to determine the Market Value of your home.
5. Set Your Price
Accurate pricing is an attraction to the Buyer - not a deterrent! Just like you, astute Buyers check the market place and are keeping current with prices and recent sales. You want your property to create interest and excitement when it first debuts "in public". The more enthusiasm we create when your property is first exposed to the market, the more likely we are to realize our goal of achieving a timely and Satisfactory Sale.
6. Sign A Listing Agreement With Me.
The Listing contract that we enter into with you, authorizes my brokerage and me, to market and sell your home. This agreement serves 3 purposes: a) it defines our relationship in detail and states limits to the authority granted by you to my brokerage, Dexter Associates Realty, and to me as a Dexter Sales Associate; b) it provides detailed information about your home which is the promptly posted to the appropriate Real Estate Board's Multiple Listing Service; c) it details and circulates the essential information needed for Dexter's Associates, as well as cooperating Realtors to show your property and draft an Offer to Purchase. Accurate Listing information leads to the drafting of offers, negotiating the best price, and ultimately, the Sale of your home. It all starts with the Listing Agreement.
7. Marketing your Home.
My strong Marketing Plan will incorporate the traditional media, the Multiple Listing Service, our Dexter Associates Realty website, my own website, and personal networking. Open Houses for both Realtors and the public are also beneficial. A For Sale sign will be installed on your property. Potential Buyers will often drive their chosen neighbourhood, looking for new signs. Quality signage is a valuable marketing tool.
8. Negotiating Offers.
Now you have an offer--or perhaps multiple offers! Together we will review the terms of every offer, and if more than one, choose the one you prefer. Some conditions you may want to change or "counter" and we will discuss each and every detail. Strong negotiation skills are vital to achieving success. Don't be offended if the offer for your property is below the asking price. We will evaluate it carefully and send a counter offer back to the Buyer. This is often a highly emotional time but it is important to keep negotiations calm and carefully considered. Successful negotiation is an art. Our goal is an accepted agreement. Provide the Buyer with whatever assistance or information is needed to remove the conditions from the Contract of Purchase and Sale.
9. Legal Advice.
Choose a lawyer or notary public familiar with proceedures necessary to convey title of your home from your name to the Buyer's name. Ask them how they structure their fees and get an estimate of all other costs you can expect.
10. Preparation for Closing.
Successful negotiations are followed by a number of vital steps.
A) Advise your lawyer that an Agreement has been signed.
B) Notify the lawyer and lending institution if the buyer is assuming your mortgage.
C) Contact utilities, telephone and cable companies about transfer or removal of service.
D) Call your insurance agent and arrange cancellation or transfer of your homeowners insurance.
E) Call a moving company.
F) Send out change of address cards including Ministry of Transportation for your BC Driver's License, etc..
G) Notify me immediately if there are any changes to your property or situation.
CONGRATULATIONS!!! Your home is SOLD!