Sellers Guide Simplified
1. Call a Realtor - Get the Realtor to do a Comparative Market Analysis
2. List Property by signing a Listing Agreement.
A Listing agreement authorizes the realtor to market and sell your home. The agreement serves 3 purposes.
A) It defines the relationship and limits in every detail with your Realtor.
B) It provides detailed information on the home which can be posted the boards Multiple Listing Service.
C) It forms a basis for drafting offers on your home, formal offers start with the Listing Agreement.
3. Stage your home for pictures/videos & on going showings; Clean, paint, repair and get rid of any odor.
If you don't have the time or the energy, let's hire professionals to do this.
4. Co-operate with your Realtor to put 'For Sale' sign on your property, take pictures/videos/floor plans etc.
5. Find a Lawyer.
You need to find a lawyer or notary public to do your conveyance; its 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.
6. 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 perhaps your accountant to see what applies.
7. Receive/review offer(s) (Contract of purchase and sale) from Buyer(s) then accept or counter offer.
I will walk you through the process, you will see every offer. There may be some conditions you may want to change; we will discuss each and every detail. This is one of the most important tasks and reasons you have hired me, the negotiation skills. Don't be offended if your offer is well below the asking price. Instead, evaluate it for what its worth and counter back. Successful negotiation is an art and because its a highly emotional time and I'm here to guide you through with success. Most offers will have subjects such as subject to financing, subject to inspection, subject to viewing the title search, property disclosure statement(PDS), strata documents if your property is a strata (2 years of minutes, form B, financial statements) and etc.
8. All the subjects are removed by the Buyer and the deposit is placed into Buying Agent's Company Trust Account.
9. Completion Date is about 30 to 90 days after acceptance. Let's close the deal!
A) Contact your lawyer and let them know an Agreement has been signed.
B) Immediately begin satisfying any conditions that require your actions to complete
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 insurance agent and arrange cancellation or transfer of your homeowners insurance
F) Call a moving company
G) Send out change of address cards including Ministry of Transportation for your BCDL etc.
H) Notify me immediately if there are any changes to your property or situation.
10. Possession Date: 1 to 3 days after completion date. Give keys to the new owner.
Congratulations!!! You just sold your property!