Understanding The Selling Process
1. The first step to selling your home is to prepare you home for the best possible selling price. The following are some examples to improve your selling price:
à Make sure all your walls are clean, nicely painted, and hole free.
à Clean your windows. Dirty windows are noticed!
à Make sure all the trim in the house is installed…correctly!
à Cut your grass or shovel your drive & walkway.
2. When your home is most presentable, I will come in and give you a fair market value, which will be the listing price. This price is chosen from using a Comparable Market Analysis, which is using comparable properties to yours that are both for sale and that have sold to find the most suitable price for your home.
3. After signing the Listing Agreement with a listing price, commencement date and expiry date, I will market your home.
4. You will then have showings. I may show potential Buyers your home or another Realtor will.
5. If there is a successful showing, there may be a second showing, there may not.
6. If there is a Buyer, you will be presented an offer by me.
7. You have a choice of Accepting the Offer, Countering the Offer or Rejecting the Offer.
8. Once there is an agreement between you and the Buyer, there will be a Condition Fulfilling period, most of the time this is of the benefit of the Buyer. This time is used for the Buyer to arrange financing or have a home inspection.
9. After the conditions have been fulfilled, the Offer has become firm. It is important for you to touch base with your lawyer, bank and insurance company to prepare for the Possession/Closing Date.
10. I will be available to you for any questions you may have up to, including and the passing of the Possession/Closing Date.
11. For the Possession/Closing Date you will have given your keys to me, to give to the Buyers representative at the appropriate time. This date is the day that the Buyer moves in. You should have all your belongings removed and have the home ready for the new owners. Preferably clean.
12. Title transfer takes place after the Possession/Closing Date. The time frame will be different with every transaction, all depending, it can be a few days up to 2 weeks from the time of Closing. This means you will not receive your funds from the sale until the new owners are registered.
13. If you are selling and buying, make note that you will most likely require an interim financing for your new home.
Understanding The Buying Process
1. The first step to buying a home is to get pre-approved; either by your bank or mortgage broker.
2. We will then view homes that meet your desired qualities and affordability and find the most suitable home for you.
3. Once you have chosen the property, with my help we will do up an Offer to Purchase. In the offer there will be certain conditions that must be fulfilled.
4. I will present the offer to the Seller or their Realtor. The Seller will either reject the offer, counter it, or accept it.
5. If the Seller counters, I will help you negotiate the terms of the offer. In doing so, the offer will either be accepted or rejected.
6. When the Offer is accepted, a deposit will be required which will be made out to the Listing Brokerage, that brokerage will hold the deposit in a trust account and it will be put towards the purchase price of the property. The deposit amount is usually $500 to $1,000 and sometimes more when buying a new home.
7. Once the offer is accepted, the time for the fulfillment of conditions is upon us. Common conditions to be fulfilled are arranging a new first mortgage and home inspection. I will advise you with regards to all and any conditions made in the offer. The standard time to complete these conditions is around 7 days.
8. After the conditions have been fulfilled, the Offer has become firm. It is important for you to touch base with your lawyer, bank and insurance company to prepare for the Possession/Closing Date.
9. I will be available to you for any questions you may have up to, including and the passing of the Possession/Closing Date.
10. On the Possession/Closing Date at the specified time that was set out in the Offer to Purchase. I will get the key to you and we will do a walk thru to make sure the property is as it was when you decided to purchase it.
11. Title transfer takes place after the Possession/Closing date. The time frame will be different with every transaction, all depending, it can be a few days up to 4 weeks from the time of Possession/Closing.
12. It is a good idea to book moving vehicles for the day after possession. Just in case there are any delays.