There are eight basic steps involved in selling a home.
Using the right real estate agent to sell your home is so important, I don’t even put it into the list. It is, in my opinion, a given! Interview a few agents and find the one you are most comfortable with. I would definitely like to have the opportunity of being that one!!
- Define your needs: Why do you want to sell and what do you expect to accomplish with the sale? Work with your real estate agent to map out the best path to achieve your objectives and set a realistic time frame for the sale.
- Name your price: Setting a fair asking price from the outset will generate the most activity from other real estate agents and buyers. It’s difficult to remain unbiased when putting a price on your home, so your real estate agent’s expertise is invaluable at this step.
- Prepare your home for sale: The condition of your home will affect how quickly it sells and the price the buyer is willing to offer. First impressions are the most important. Your real estate agent can help you take a fresh look at your home and suggest ways to stage it and make it more appealing to buyers.
- Get the word out: Your real estate agent will set up a marketing strategy specifically for your home. The objective is to bring the most qualified buyers to your home.
- Receive an offer: When you receive a written offer from a potential buyer, your real estate agent will ensure you understand the terms involved and will lead you through your options. Remember: Once both parties have signed a written offer, the document becomes legally binding. If you have any questions or concerns, be certain to address them with your real estate agent right away.
- Negotiate: Most offers to purchase your home will require some negotiating to come to a win-win agreement. Your real estate agent has experience in this and will protect your best interest throughout the bargaining.
- Prepare to close: The property may need to be formally appraised, surveyed, inspected or repaired. Your real estate agent can spearhead the effort and serve as your advocate when dealing with the buyer’s agent and service providers. If there are problems with the home, the terms set forth in the contract will dictate your next step. You or the buyer may decide to walk away, open a new round of negotiations or proceed to closing.
- Close the deal: A few days prior to closing you will meet with your lawyer/notary to review documents and the statement of adjustments. Once signed by all parties, the documents are logged for registration. After registration, the lawyer or notary looks after all disbursements. You should make a to-do list for turning the property over to the new owners – such things as cancelling utility or service contracts and gathering owner’s manuals and warrantees.
From Kris' Blog
What a year it was! The total number of residential and condo units sold through the Board’s MLS® System throughout all of 2017 was 17,083 vs 15,526 in 2016, an increase of 10%. Residential sales volume was up 16% and the condo market up 22% increase in the number of units sold. Average 2017 residential sale price was $425,063, an increase of 6.8% over 2016, while the average condominium sale price was $269,903, an increase of 3.4% over 2016. For the month of December, members of the Ottawa Real Estate Board sold 771 residential properties through the Board’s Multiple Listing Service® System compared with 711 in December 2016, an increase of 8.4%. The 5-year average for December sales is 687.The average sale price of a residential class property sold in December was $434,098, an increase of 3.4% over December 2016. The average sale price for a condominium class property was $255,335, a decrease of 3% from December 2016. December saw an increase of 8.4% in the number of units sold in residential sales and 25% in condo sales. This could very well be attributed to the changes in the mortgage qualification rules implemented January 1, 2018. Since every area is different, if you are thinking of buying or selling, please do give me a call. And – don’t forget those referrals – they are a huge contribution to the success of my business. Kris...