SELLING YOUR HOME IT’S NOT AS JUST AS SIMPLE AS PUTTING A
FOR SALE SIGN ON YOUR LAWN
Actually, it’s a bit of a science. You want to get the highest price possible, but you can’t deviate from market conditions. What should you do? Begin by gathering as much information as possible and selecting an experienced real estate agent who is well-trained and specializes in your neighbourhood.
Since 2006 Paul Masoumi has been helping homeowners sell their homes and guiding them through every step of the process. From advising you on how to improve the curb appeal of your home to determining a price that will maximise your profit, to discussing offers and closing the deal, we are here to help you. Everything you need to know is outlined in eight simple steps below:
Step 1: Making a decision to sell your house
- Renovating:Renovating can range from as simple as freshening up the walls with a coat of paint or updating your door knobs and lighting to major renovations such as installing a new kitchen, bathroom, or hardwood floors. However, before you do anything, you should probably know how much value a renovation or remodel will add to your sale price and how much other comparable homes in your neighbourhood are selling for. We can provide a wealth of information. We can assess your home so you don’t waste money on costly renovations that will not add any value to your home.
- Improving curb appealFirst impression is key. If a potential buyer is standing in front of your driveway or simply passing through the neighbourhood, you want your home to look at its maximum potential. As a result, make sure the lawn is mowed and raked. If there are some dead patches of grass, sod, or overseed. Trim bushes and trees, and add a few brightly coloured flowers if desired. Touch up any peeling paint around exterior windows and doors, stain the fence or deck, clean up your garage or shed, and make sure your home is well lit at night.
- Consider getting a home inspectionThe last thing you want is for a buyer to back out from the deal due to an unpleasant surprise. It’s also very likely that the buyer will request a home inspection in any case. As a result, you might want to consider taking the initiative yourself. That way, if any major repairs are required now, they will not jeopardise the sale of your home or force you to lower the price later on.
At this time you should be ready to put a for sale sign on your lawn. Now what’s next?
Step 2: Finding the right real estate agent to sell your house
When you’re ready to sell, the next step is to list your home with a real estate agent. Because, in reality, selling a home necessitates a significant amount of research, paperwork, effort, and, most importantly, trust. Ideally, you should look for an agent who is familiar with your neighbourhood and local market trends. A good agent will provide you with a wealth of knowledge and a wide range of services to assist you in achieving your objectives. You can consult with us! We have a fiduciary duty to act in your best interests while remaining completely transparent and accountable.
Step 3: Putting your home for Sale
- Finalize a listing PriceThis is not as simple as you may believe. If you overprice your property, buyers will be unmotivated. If you underprice it, you risk losing thousands of dollars. We can certainly assist you by performing a complete property profile of your home, which includes the current condition, location, surroundings, special features such as a view from the property or high ceilings; a comparative market analysis, which shows you what houses in your area have sold for in recent months; and a total market overview. We will then consider as many factors as possible in order to accurately assess the fair market value of your property so that it sells quickly while maximising your profit.
- Marketing your homeNo matter how well you price your home, you’ll need a solid plan to attract buyers. That is where we will come in handy. Aside from newspaper advertising and listing your home on the Multiple Listing Service (MLS®), we will work with you to create a “features sheet” or video to differentiate your home from the competition. They will also promote it via blogs, social media channels, various websites, and our personal peer network. We also at Royal LePage also have access to a national network of over 17,000 contacts and referrals.
So now you’ve made your decision to list with us. It’s time to shine the spotlight on your home. But how do you present it in the best possible light? Continue reading…
Step 4: Home staging, decorating, presentation
The appearance of your home to prospective buyers can leave a lasting impression. The goal is to make buyers feel as though they can already picture themselves living in your home. There are a few tricks of the trade that can assist you in accomplishing this:
- Home StagingThis literally means getting your “set ready” for buyers. In other words, cleaning your home from top to bottom, including carpets and drapes, kitchen and bathroom tiles, walls, ceilings, and trim. Then, dispose and declutter, which entails getting rid of items in your home that make rooms appear smaller than they are. Then, organise. Clean out cabinets, bookcases, closets, and toys, and store personal items such as photographs, souvenirs, and other sentimental items. If you have empty rooms in your house, stage them with the appropriate furniture. You might be able to borrow some nice furniture from family or friends. You can even find places where you can rent furniture for staging. Keep it simple and classic, with nothing too trendy that could turn off a buyer.
- Getting ready for an Open HouseA successful open house is critical to generating immediate interest in your home. Do you need any last-minute advice? Open blinds and windows and turn on lights in darker rooms to make your rooms bright and airy. Set the dining table or put out some fresh flowers to help buyers picture or imagine themselves in your home. A scented candle should be lit. Leave some refreshments on the table. And, for your own safety, keep all of your valuables in a secure location. When the open house is finished, solicit feedback so that you can make a few changes before the next one.
So the crowds are pouring in, and they are enamoured with your home. It won’t be long before you get an offer…
5 – Analyzing and Accepting a Home Contract of Purchase and sale “the Offer”
Not every offer is created equal. Fortunately, we are here as your real estate agent to assist you in reviewing an Offer to Purchase and going over all of the details. Here are a few actions you should take:
- Understanding the termsMost offers will include the price the buyer wants to pay, information about the offer and financing, and any conditions, inclusions, or exclusions the buyer wants to make contingent on the closing. These offers can be “firm,” which means they’re willing to buy the house as is. Alternatively, the offer could be “conditional” on items such as a home inspection, financing approval, or even the sale of their current residence.
- Explore every aspectIt’s not just about the cost. Other items, such as appliances, draperies, or chandeliers, may have been requested by the buyers. They may even asked for minor improvements such as reshingling your roof or repairing your driveway. Some buyers may have requested longer or shorter closing periods, or may have made it contingent on something else, such as the sale of their current home. All of these factors have an impact on how the offer appears in reality. We are experienced with such things and will assist you in determining whether to accept, reject, or counter offer.
Congratulations if you accept. If not, it’s time to proceed to the next step…
Step 6: Negotiating a counter offers
Perhaps the price was lower than you anticipated. Perhaps the buyers requested some extra features. In some cases, you may have to choose between multiple offers from different buyers. This is one stage where having an agent like us on your side will come in handy. Here are some things to think about right now:
- Counter OfferExamine the buyer’s request carefully, then ask yourself, “Is it worth losing a sale for a minor inclusion like a rug or drapery?” Perhaps not. So having one is the best strategy. Know ahead of time what you’re willing to compromise on and how much you’re willing to pay. Finally, if you believe you will be unable to reach an agreement, don’t be afraid to reject the offer.
- Multiple offerYou might find yourself in a situation where you receive offers from multiple buyers. You can now compare and decide which offer, based on price and terms, is the best fit for you. Pre-approved financing, the buyer having already sold their existing home, or agreeing to all conditions of sale without exception could make one offer more appealing than the other. One thing to remember is that patience and respect are essential. In this situation, we will undoubtedly provide sound advice in order to achieve the best outcome for you and the most equitable outcome for all parties.
Even though you have signed and accepted the Offer to Purchase, it is not yet complete…
Step 7: Home Closing Process
Closing day is the day your house is officially sold. It is, without a doubt, an exciting time. However, there are a few things to keep in mind before handing over the keys:
- Review your conveyancing document to make sure that all the fees charged and deducted realtors commission etc are reflected accurately
Step 8: Home Moving Tips:
The day has finally arrived. And, while there will undoubtedly be some sadness in leaving your old home, there will be just as much excitement in moving into your new one. Here are some pointers to make your move go as smoothly as possible:
- Create a moving checklist that details a plan for tasks that must be completed weeks before the move, all the way up to moving day
- Plan ahead of time by clearly labelling boxes with the rooms they belong in. You might even want to give the movers a small floorplan so they know where to take them
- Make sure to get quotes from reputable moving companies that are competitive. Alternatively, to save money, find out how much hiring a moving van would cost (And bribe your friends to help you)
- Cancel your cable and utilities, and give any rented appliances (such as your water heater or furnace) to the new owners. Make sure your new home’s gas, electricity, cable, and phone are all connected while you’re at it.
- Notify key contacts of your change of address, such as your employer, Canada Post, doctors, friends, pharmacy, and so on.
- If you have children, talk to them about why you’re moving and reassure them that the friends they’ve made will remain their friends. Inquire about their opinions on matters such as the colour of their rooms’ paint. Make it exciting for them by making it fun for them.
- Plan an easy meal for moving day, such as ordering takeout. It’s stressful enough moving without having to cook on top of it.
- Create a moving checklist that details a plan for tasks that must be completed weeks before the move, all the way up to moving day
- Plan ahead of time by clearly labelling boxes with the rooms they belong in. You might even want to give the movers a small floorplan so they know where to take them
- Make sure to get quotes from reputable moving companies that are competitive. Alternatively, to save money, find out how much hiring a moving van would cost (And bribe your friends to help you)
- Cancel your cable and utilities, and give any rented appliances (such as your water heater or furnace) to the new owners. Make sure your new home’s gas, electricity, cable, and phone are all connected while you’re at it.
- Notify key contacts of your change of address, such as your employer, Canada Post, doctors, friends, pharmacy, and so on.
- If you have children, talk to them about why you’re moving and reassure them that the friends they’ve made will remain their friends. Inquire about their opinions on matters such as the colour of their rooms’ paint. Make it exciting for them by making it fun for them.
- Plan an easy meal for moving day, such as ordering takeout. It’s stressful enough moving without having to cook on top of it.
