The Home Selling Process

1: Select The Realtor To Join Your Team

Choose a Realtor who listens to you, understands your needs, and in whom you have confidence. The professional you choose should have answers to all questions or concerns you may have about selling your home. Discuss how your home will be marketed and don’t be afraid to ask many questions. You want to ensure you’re getting the best service possible. Beware of Realtors who promise an abnormally high return for your home! They may not be able to deliver on this promise and your home could be sitting on the market unsold for an extended period of time.

Step 2: Establish An Effective List Price

Pricing your home right is the key to selling it quickly and for the best price. Homes sell quickly and usually for the most money when they are priced properly from the beginning. Consider the current market conditions and be sure to consult with your Realtor to determine the right price with the help of a comparative market analysis report. Remember, buyers will compare your home with other similar properties in the area and ultimately determine your home’s worth.

Step 3: Get Your Home Ready For Sale

This step includes keeping your house clean and problem-free. All repairs throughout the home should be attended to; you know that squeeky door is just squeeky but a potential buyer will think the worst! If you have too much clutter, you could consider renting a storage locker temporarily. If your home is vacant, you may want to think about staging as a possible option for a more “lived-in” feel.

Step 4: Show Your Home

It is your responsibility to have the house looking good for showings. It should be clean, tidy and odour-free. It is preferable to to show your home without the owner present as potential buyers will feel more comfortable expressing their feelings and thoughts about your home. (Thus giving more feedback) Showings are by appointment only and buyers will always be accompanied by an agent. Your Realtor should keep a record of all the appointments and give you viewer feedback.

Step 5: Receive Purchase Offers & Negotiate

As soon as your Realtor receives any offers on your property, he/she will make an appointment with you to present the Agreement of Purchase and Sale. Most offers will have clauses and conditions; your Realtor will explain them to you as well as anything else in the offer that may be of concern. You may accept the offer as is, reject it, or make changes and sign it back to the buyer to see if they are willing to accept your changes. If you make a counter-offer, you have rejected the original offer and the buyers are no longer bound by their original offer. From here, it is the buyer’s option to either accept your counter-offer with the changes, reject it, or come back with another counter-offer. This process continues until either you can reach agreement or the negotiations terminate.

Step 6: Cooperate With The Home Inspection (If Applicable)

While home inspections are an optional choice for the buyer, they will most likely have them done before they finalize the purchase of your home. As every home is not perfect, don’t be surprised to hear that you property had its share of problems. It is up to the buyer to make the decision whether to continue with the purchase of the home, negotiate needed repairs, or to make an offer on another home. try not to be offended by the findings (if there are any defects) as they are simply just what is being discovered by a 3rd party inspector that has nothing vested in the property.

Step 7: Closing The Sale

Once agreement is reached and any conditions are fulfilled or waived, the documents are handed over to your lawyer who prepares the transfer papers, deals with any adjustments, and meets with the purchaser’s lawyer on the closing date to exchange the keys for the payment