If you are thinking of selling your home, before you become overwhelmed at the task we need to discuss 10 steps that will help make this process easier for 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. Give me a call, I will get you in the right direction.
2. Find A Realtor Who Is Right For You. Think locally as they will know your area. Don't be afraid to ask questions and interview the candidates. A good Realtor will know the market well, supply you with information on past sales, current listings, and his/her background from previous clients. They should also provide a solid marketing plan which includes a pricing strategy. If you feel comfortable with me and trust in my expertise then let's begin!
3. Sign A Listing Agreement With Me. It authorizes me and my brokerage to market and sell your home. The agreement serves 3 purposes. a) It defines our relationship and the paramenters of Realtors authority. b) It provides detailed information on the home which can be posted on the board of Multiple Listing Service. c) It forms a basis for drafting offers on your home, formal offers start with the Listing Agreement.
4. Set Your Price. You want to attract buyers, the right asking price will attract and the wrong asking price will deter. I know factors that can influence the market. For example, your neighborhood may be under development with more multi-family housing, there may be a large company opening up bringing jobs and demand for housing in general, interest rates may be affecting people's willingness to take on mortgages. I will do a comparative Market Analysis (CMA) to homes recently sold, active, and expired in your area and we will set the price.
5. Find A Lawyer. You need to find a lawyer to do your conveyance; it is where they transfer the title of the property to your name. Ask them how they structure their fees and get an estimate of all other costs you can expect. Please see my ‘Completion Costs Guide page.
6. Prepare Your Home For Viewing. Get your mop, vacuum, tool belt & paint brush and let's get your home a mini make-over. It's the little things you can do to attract a buyer. Get rid of the clutter, clean everything, repair as much as you can within reason, add some beautifying touches like new door handles on cupboards and perhaps even paint.
7. Let Me Market Your Home. This is my expertise and this is where I am able to benefit you. Please see My Value Proposition to You’ page for more description. There you can learn more about of skills and how I help my clients. I will use combinations of marketing tools such as direct mail, MLS, my own website and networking. Open House for Realtors and the public is also very beneficial.
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 capital gains tax apply to you? Talk with your mortgage broker and perhaps your accountant to see what options work for you.
9. Offers! Let's Look At Offers. Every offer will be presented to you and I will go over each in detail with you. There may be some conditions you may want to change; no details will be spared. Negotiation skills are one of the most important tasks and reasons to hire me. Don't be offended if your offer is well below the asking price. Instead, evaluate it for what it's worth and counter back. Successful negotiation is an art and because it's a highly emotional time and I'm here to guide you through with success.
10. Close The Deal! Excellent, negotiations are successful and we are now in a vital step of the selling process. A) It is time to contact your lawyer or notary and let them know an Agreement has been signed. B) Immediately begin satisfying any conditions that require you to complete before the completion date C) Notify the lawyer and lending institution if the buyer is assuming your mortgage D) Contact utilities, telephone and cable companies about transfer or removal of service E) Call your insurance agent and arrange cancellation or transfer of your homeowners' insurance F) Make arrangments with a moving company G) Send out change of address request including drivers license, health care, etc. H) Notify me immediately if there are any changes to your property or situation.
Congratulations!!! You have sold your house! It is time to enjoy the fruit of your labor and I am pleased to have been part of this process.