DECIDING TO SELL YOUR HOME
Don't rush into the decision. Deciding to sell your property is one of the most important decisions you can make. Take your time, talk with family and friends, weigh all the pros and cons, and think it through thoroughly. That way, when you've come to the conclusion that the time is right to sell, you'll feel confident in your decision.
WHEN TO SELL YOUR HOME
Real Estate in the Vancouver area is seasonal and there are times of the year that historically are more active than others. Listing during those "best months" of spring, early summer and early fall is recommended but by no means a requirement. Your personal reasons for selling will determine when the right time is for you.
GET YOUR FINANCES IN ORDER
Understanding your financial position is essential when listing your home. If you have an existing mortgage contact your lender and discuss your plans. Talk to your financial planner and/or accountant to make sure you're all on track.
MEET WITH A REALTOR® / HOME EVALUATION
Interview a few REALTOR's® and request a detailed market evaluation of your home and a marketing and promotion presentation. Review their presentations and determine the REALTOR® that you feel most comfortable working with.
A REALTOR® is a real estate professional who is a member of a local real estate board, provincial association and The Canadian Real Estate Association (CREA) that enforce a strict Code of Ethics. Only these professionals can call themselves REALTORS®. In BC, REALTOR® are licensed under the Real Estate Services Act.
SIGN THE LISTING CONTRACT
Sign the listing agreement with your REALTOR® of choice. Discuss property repairs, cosmetic improvements and other possible renovations that should be considered prior to listing your home . Consider getting a professional home inspection to identify any major repairs that may be required. Work together with your REALTOR® to set a fair price for your home.
PREPARING YOUR HOME FOR SALE AND LISTING
Ensure that every room in your home is exceptionally clean and tidy. Remove clutter and clean out garage or carport. Consider renting a storage locker for your access items. Ensure that your lawn and gardens are highly presentable. Once your home is ready your REALTOR® will arrange for a photo/video shoot and proceed to list your property on MLS (Multiple Listing Service). Remember, a showing request may occur at any time so continue to clean and de-clutter every day.
MARKETING AND PROMOTION
Your REALTOR® will now begin marketing your home as per their marketing and promotion presentation. Review their efforts on a regular basis.
REVIEWING OFFER PRESENTATIONS
Upon receiving an offer, you and your REALTOR® will review in detail all aspects of the offer including price, subjects, closing and possession dates and all other terms and conditions. You decide on acceptance, rejection or providing a counter offer.
Congratulations, you have accepted an offer. Your lawyer/notary and REALTOR® will walk you through the paperwork needed to complete the sale. On completion (closing) day legal ownership of your property will be transferred to the buyer. Funds will be received and your lawyer/notary will provide you with a statement of adjustment listing all costs payable such as legal fees, taxes and mortgage discharge fees if applicable. On possession day your REALTOR® will help you coordinate the handing over of keys to the buyer.
What to expect
WHAT TO EXPECT
● Pre-listing home inspection
● Preparation costs such as painting, professional cleaning, gardening and repairs.
● Staging costs
● Off-site storage locker
● Legal/Notary fees plus GST
● Mortgage penalties
● Mortgage discharge fees
● Closing adjustments on property tax, utilities and strata fees
● REALTOR® commission plus GST
● Moving company
● Property transfer tax if you are purchasing a new property
Making your Real Estate experience easier