Should I buy or sell first?
Major factors that influence the selling price
The advantages of a realistic selling price
Costs related to the purchase of a property
Helpful Hints For Selling Your Home
The 8 Selling Stages
There is no right or wrong decision. Each case must be considered individually. We can give you professional advice regarding this matter.
You may not have found the right home before the date that you have to vacate your property. The options are as follows :
«An unrealistic selling price only serves to sell other properties while yours remains on the market»
Remember that the potential buyers’ first impression is key. Make sure everything is clean and painted if necessary. Your lawn and landscaping should be maintained regularly. Make sure dead leaves and trash don't appear in the backyard. If it has snowed, thoroughly clean and remove all traces of ice from the stairs and the entrance.
To avoid having to explain what your home could look like, it is ideal to do some touch-up paint, replace damaged wallpaper, repair exposed cracks, fix broken tiles, and keep the home always welcoming.
Open the blinds and curtains, the buyer will appreciate how bright your home is; interior light is one of the most important criteria buyers look for in a home!
A leaky faucet spoils the appearance of a bath or sink and suggests faulty plumbing.
Take the time to thoroughly check everything is in working order; check all doors, drawers, and windows. By making appropriate adjustments, buyers will have a good feeling about the house.
Make sure stairways are clear and everything is in order, as visitors will want to see every nook and cranny safely. You must avoid any accident and not interfere with the smooth running of the visit; a sale is in progress!
Make sure you have good lighting in the attic, light up the basement and other storage spaces. A coat of paint in the basement can make all the difference.
This is an opportunity to declutter the closets and show visitors that they will have good storage space.
These bathrooms must be sparkling clean, the faucets in good working order, the cracks repaired, and caulking replaced.
Keep these rooms bright and clean, remove unnecessary furniture, use attractive bedspreads in harmonious colors, blinds and curtains well cleaned.
A well-lit home is a welcome sign. If visitors come in the evening, leave all exterior and interior lights on, replace bulbs if necessary. The house will be warm and welcoming.
Avoid having too many people at your house during a visit, buyers will feel like they are disturbing your family life and will tend to cut their visit short or miss certain important elements of your house.
Your music is not necessarily that of the visitor; take care to lower the volume of your devices and turn off the TV. Let your broker discuss with his client in peace, you will be surprised by the results.
Do not hesitate to light fragrant candles, incense or boil cinnamon; this will give a peaceful atmosphere of the most pleasant.
Animals are man's best friend, but some people are fearful and can't stand their presence, so keep them away.
That may be true but let the visitor find out. Do not tell him about the unique opportunity that presents itself to him. If the visitor points out certain defects or makes a disparaging remark, avoid comments and let your broker take care of the situation.
Your broker knows the needs and desires of visitors, and he will be able to emphasize certain advantages offered by your home better than you.
Although the opportunity arises, do not immediately offer to sell your furniture and accessories to visitors, remain calm and relaxed, your broker is aware and will intervene at the right time.
Let your broker initiate discussions of the sale price, payment terms and date of possession with the visitor. Your broker is a professional and will know how to carry out the negotiations, always to your advantage.
Your broker is available to you at all times. Before making any important decisions about selling your home, consider discussing with your broker.
Everyone has their own reason for selling their home. One thing, however, is universally true: the desire to get as much as you can for your home. There are a lot of ways you can add value that you might want to consider, such as:
This can be something as simple as freshening up the walls with a coat of paint or updating your door knobs and lighting with more contemporary styles all the way to major renovations like installing a new kitchen, bathroom or hardwood floors. Before you do anything though, it's probably wise to know how much value a renovation or remodel will actually add to your sale price and how much other comparable homes in your neighbourhood are selling for. Your broker is a great source of information. They can give you an assessment on your home so you don't embark on expensive renovations before knowing.
First impressions mean a lot. Which is why you want your home looking its very best when a potential buyer is standing at the bottom of your driveway or simply passing through the neighbourhood. So, make sure the lawn is cut and raked. If there are some dead patches of grass, overseed or sod. Trim bushes and trees, even add a few brightly coloured flowers. Touch up any peeling paint around exterior windows and doors, stain the fence or deck, clean up your garage or shed and ensure that your home looks just as enticing at night by making sure it's well lit.
So, now you're all ready to put that «For Sale» sign on your front lawn. What's next? Find out in Step 2…
Now that you're ready to sell, the next thing you should do is list your home with a real estate broker. Because the reality is, selling a home involves a great deal of research, paper work, effort and most importantly, trust. Ideally, you should seek out a broker that has a good knowledge of your neighbourhood and local market trends. A good broker will provide a wealth of knowledge and breadth of services that will help you accomplish your goals.
Your home is about to make its big debut on the market. And there's more to it than sticking a sign on your lawn and doing an MLS listing. Establishing a home's true worth can be tricky. Your broker will be there to make sure your home is poised for success. Here's how they can help:
This isn't as easy as you might think. Price your property too high and buyers won't be motivated. Price it too low and you stand to lose thousands. Your broker can help by doing a complete property profile of your house, including current condition, location, surroundings, special features like a view from the property or high ceilings; a comparative market analysis that will show you what houses in your area have sold for in recent months, and a total market overview. Your broker will take into consideration as many factors as possible to accurately assess the fair market value of your property so it sells fast while maximizing your profit.
No matter how well your home is priced you will need a sound plan to attract buyers. That's where your broker will offer invaluable experience. Aside from newspaper advertising and listing your home on the Multiple Listing Service (MLS), they will work with you to create a “features sheet” or video to make your home stand out from the competition. They will also market it through blogs, social media channels, various websites and their own personal peer network.
So now you're fully committed. It's time to make your home shine. But how to show it in the best light? Keep reading…
The way your home looks to prospective buyers can make a striking impression. The goal is to get buyers to feel like they can already see themselves living in your home. There are a few tricks of the trade that can help you do this:
This 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. Next, dispose and declutter which entail getting rid of those items in your home that make rooms feel smaller than they actually are. Then, organize. Tidy up cabinets, bookcases, closets and toys and put away personal items such as photographs, souvenirs and other memorabilia. If your home has empty rooms, stage it with the right furniture. You may be able to borrow some nice furniture from family or friends. There are even places to rent furniture for staging. Keep it simple and classic, nothing too trendy that could potentially turn off a buyer.
A successful open house is key for generating quick interest in your home. Some last minute tips? Make your rooms bright and airy by opening blinds and windows and turning on lights in darker rooms. Help the buyers imagine themselves in your home by setting the dining table or putting out some fresh flowers. Light a scented candle. Leave some refreshments out. And for your own security, make sure you store all your valuables. When the open house is over, ask for feedback so you can make a few tweaks before the next one.
So, the crowds are pouring in and loving your home. It won't be long until you get an offer…
Not all offers are created equal. Fortunately, your real estate broker is there to help you review an offer to purchase and discuss all the details. Here are a few things you should do:
The main factors on most offers will include the price the buyer wants to pay, details about the offer and financing as well as any conditions, inclusions or exclusions the buyer wants to make contingent on the closing. The offer could be “conditional” on things like a home inspection, approval of financing or the sale of their existing home.
It's not just about price. The buyers may have asked for other things to be included like appliances, draperies or chandeliers. They may have even requested some minor renovations like reshingling your roof or repairing your driveway. Some buyers may have asked for longer or shorter closing periods or made it contingent upon something else like selling their current home. All these factors influence what the offer truly looks like. An experienced broker will help you decide whether to accept, reject or make a counter offer.
If you accept, congratulations. If not, then it's time to move onto the next step…
Perhaps the price was lower than you were expecting. Maybe the buyers have asked for some extra inclusions. In some cases, you may have multiple offers from different buyers to entertain. This is one stage where you'll be glad to have a broker by your side to help. Here are some things to consider now:
Take a good look at what the buyer is asking for, then ask yourself, “Is it worth losing a sale for a minor inclusion like a rug or drapery?” Maybe not. So, the best strategy is to have one. Know ahead of time what you're willing to compromise on and, as far as price goes, how much. Finally, if you feel you're not going to be able to come to terms, don't be afraid to reject the offer.
You may be in the situation where you receive offers from several buyers. Now, you have the opportunity to compare and decide which offer, based on price and conditions best suits you. Things that could make one offer more attractive than the other are pre-approved financing, the buyer has already sold their existing home or they've agreed to all conditions of sale without exception. One thing to keep in mind though is that patience and respect are paramount. Your broker will certainly provide sound advice in this scenario to arrive at the best outcome for you and the fairest to all parties.
Now, even though you have an accepted offer to purchase, it's not quite done yet…
For sellers, closing day is payday. However, in order for your home to be officially sold, there are a few remaining things that you need to do:
These are the fees you need pay by or on the closing day. They include the real estate broker’s commission, legal fees and disbursements, utility and property tax adjustments, mortgage discharge fees and more…
The day has arrived. And although there's bound to be a bit of sadness about leaving your old home behind, there will be just as much excitement moving into your new one. Here are some tips for a smooth move:
That details a plan for things that need to be done weeks before you move all the way up to moving day itself.
By clearly labeling boxes with the rooms they are to go to. You might even want to provide a small floor plan for the movers so they know exactly where to take them.
Make sure you get competitive quotes from reliable moving companies. Or, to save money, find out how much it would cost to hire a moving van yourself (and bribe your friends to help you).
Work, Canada Post, doctors, friends, pharmacy, etc… – of your change of address.
On moving day, plan an easy meal like picking up some take-out. Moving is stressful enough without having to cook.
Congratulations! You're all moved in. Welcome home!