SELLER'S REAL ESTATE GUIDE
SELLER'S REAL ESTATE GUIDE
This is a general overview of the home selling process, from listing to closing. The specifics of your transaction may vary; thus, I will be by your side every step of the way using my own mortgage industry background and experience to guide you.
LOOKING TO SELL ? LET ME HELP YOU
STEP 1 - PREPARING TO SELL
Preparing to sell your "home" is an emotional process, but at this point, you must disconnect from the word home and think of it as an house or an asset that you are selling. A lot of sellers get very attached to their home and that hinders their ability to sell. Try to disconnect from the home and start thinking about your next location as "home". We will discuss how to get your house valued properly to price it right, discuss what you need to do to sell the home, and also how to prepare your home for showing so that it looks it's best. Perhaps there are some repairs that need to be made before selling. This is when you would hire a handyman to come and make those repairs. You want to remove a lot of the personalizing elements to make it a neutral house that a potential buyer could see as their home, not yours. You also want to make sure it's clean and smells good to give a great first impression when they walk through the door.
STEP 2 - LISTING ON THE MLS
At this point, we will publish the sale of the home as a "listing" in MLS and other search engines to help market your property to buyers. You will need to be flexible with the times that you are willing to leave the house to allow for buyers to come and visit. These visits are usually scheduled in 1 hour blocks of time and are scheduled with some advance warning so that you can make plans to be out of the house for a bit. It's ideal for you can take your pets with you as well to allow the buyers to walk through the house uninhibited. If that's not possible, then find a way to constrain them to a kennel. You also want to make sure the house stays clean and smells clean before they arrive.
STEP 3 - OFFER AND CONTRACT NEGOTIATION
One or several buyers will put in an offer on your property to buy the house. This will set off the process for either accepting their offer or negotiation. I will present all the offers that I receive to you so you can make your decision.
STEP 4 - ACCEPTED OFFER / SUBJECT REMOVAL PERIOD
Once you make a decision, we will finalize it and it will become a contract to buy the house from you. Usually, the contract will come with a fixed time period where the buyer will need to remove subjects or conditions. During this subject removal period, the buyers may bring in home inspection companies to look at the house and find potential issues that may affect the property they are buying. Sometimes, they will come back to you and ask you to make certain repairs or renegotiate.Occasionally, the deal falls apart during this time period and the buyer walks away. This is not a breach of the contract, but simply they exercise their option. However, during this period, the house stays on the market and you can continue to have it shown to other potential buyers.
STEP 5 - FIRM OFFER / PENDING SALE
Once all subjects are removed, the sales contract is fully enforceable and binding. Usually, the buyers will be required to give their Realtor a bank draft as deposit. A few days before closing, your lawyer will go over all the documents and ensure that all of the closing costs are being properly allocated between you and the buyer.
STEP 6 - COMPLETION
At this point, you need to be moved out of the house and either clean it or have it cleaned for the new buyers. Once you go to closing, you will no longer have access to the house unless we have negotiated a short term lease from the buyer for you to stay a few days once they take ownership.On the completion date, all the funds will be transferred to your lawyer and, they will be able to deposit the sale proceeds into your account once the title is transferred. They will inform you once this takes place.
STEP 7 - POSSESSION
I will meet with the buyer and buyer's agent on possession date to hand over their keys and do a walk-through to make sure that everything is agreed on the contract.
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