1. Get educated
To avoid critical mistakes when selling your home, focus on selecting the right agent by asking questions about their motives, ability to represent you, and business style. Have the agent assess your house to determine its value through a Comparative Market Analysis (CMA) comparing it to similar properties in the area.
2. Document & Material Preparation
To sell your property, gather essential documents like a Real Property Report, repair receipts, home warranty documents, spare keys, rental agreements, and condo-related paperwork. Your REALTOR® can assist with the process.
3. Home preparation
4. The listing documents
When signing listing documents, understand it's a legal contract. Your REALTOR® should explain clauses, start and end dates, rights, and responsibilities. Contracts typically protect both the seller and brokerage.
5. Marketing
6. Showing
7. Strategy assessment
After a few weeks on the market, gather feedback to evaluate the marketing strategy and consider adjustments like changing the medium, features, price, and agent incentives to keep the listing fresh.
8. Conditons
An offer typically includes conditions like a home inspection or financing approval. The house is "conditionally sold" for 7-10 days. Shorter condition dates are preferable, but realistic timeframes prevent date extensions.
9. Preparation for possession
Once conditions are removed, the deal is firm for possession. Book a lawyer appointment, and fulfill agreed contract terms like painting or cleaning before possession to avoid a breach.
10. Closing & possession
Possession usually occurs at noon unless agreed otherwise. It's advisable to move furniture the day before. Keys are released to new owners at noon after money transfer confirmation by lawyers. Cheques are ready a few days later, and lawyers manage any necessary money transfers for new home purchases.