Selling Your Home?

My Liberty Village Condos Introduction to Selling Your Home

Being a first time home-seller can make the process seem daunting. This article is designed to introduce you to the home-selling process by breaking it up into stages and taking a brief look at the seven stages or steps of selling your home.

Plan & Prepare

The first thing you need to consider in the home-selling process is preparing to sell your house. In order to sell your home quickly and for the best value it is necessary to get your home ready. This means making any necessary repairs, freshening the rooms and exterior with a fresh coat of paint, completing any upgrades and de-cluttering the space. The aim is to present the house at its best for when potential buyers come for showings.

Deciding when to actually put your house up for sale depends on the market condition and your personal need to sell. Summer is thought to be the busiest time because parents want children enrolled in schools prior to the new school year. Making the decision to sell should be made in consultation with your Realtor.   

Get a Realtor

Having a qualified and experienced Realtor on your side during the selling process ensures that you have the insight needed to sell your home with ease of mind. Realtors are community experts; they know the value of homes in a neighbourhood and the buying/selling trends of the local real estate market. Having a professional working on your side is an advantage because of the legal knowledge and negotiating skills a Realtor brings to the table. Consider meeting with a few different Realtors before making a decision on which Realtor to list your home with. It’s important that the Realtor you choose understands your needs and wants and that you have a good relationship.

Setting the Price

Once you’ve chosen a Realtor, you will decide on a price to list your home at. The goal is to get the best value for the home and to get the property sold quickly. There is no universal formula used to set the price, rather there are different factors that influence the value of a property. You may have a price in mind and your Realtor will work with you to find the right price that reflects the current market condition, the value of your home and neighbourhood.

Marketing Your Home

Realtors use a variety of different advertising methods to get their clients homes sold. From online Multiple Listing Services to virtual tours and open houses. The goal of marketing your home is to showcase the best aspects of the property and to get potential buyers in to view the property. Be sure to ask your Realtor what forms of marketing and advertising work best in your area and see what they recommend.

Offers to Sold

When an offer is put on the house, it is a stage at which negotiation skills are indisposable. From the initial offer to the counter offers and the final accepted offer, you and your Realtor will be looking over contracts and negotiating between the two parties. Perhaps the offer is lower than your asking price, or you have multiple offers on the property but the conditions of the offer are unacceptable. When you come to an agreement from both parties, you accept the offer. When all the conditions of the offer are met, your house is sold! 

Closing

The closing of the home is set out in the sales agreement that was finalized during the offers stage. Closing of a property is usually 60 days from the date of acceptance. This gives both parties enough time to get ready to actually move. This is when the sellers receive payment and the title of the home is transferred to the new owners.  This would be the stage at which to celebrate because everything has been finalized and the keys are handed over.

The next step is to actually move out of the property you’ve sold, which usually occurs on the date of the closing. It is an intense process, but a licensed Realtor can make all the difference, so be sure to choose wisely. Ask friends and family for recommendations. This is a brief look at the house selling process, be sure to consult our in-depth articles on selling as well as consulting with a professional real estate agent.