If you are considering selling your property...
here are some steps you should consider following in order to ensure that the process runs smoothly. If you have any questions, please feel free to Contact Us and I would be happy to assist.
1. Gauge your need to sell.
- Define your goals for the next 5-10 years.
- Weigh the pros and cons of selling your house.
- Figure out if you can afford to sell, move and buy a new home.
- Calculate your home equity.
- Research the local housing market.
- Consider remodelling the home to fit your needs.
- Weigh the pros and cons of renting out your home.
2. Calculate your selling expenses.
- List the repairs and projects you'll have to do to get your home in selling condition and estimate the costs of hiring supplies and contractors.
- See what projects you can afford and adjust how much you expect to get for selling your home.
- To get top dollar, consider remodelling projects and green upgrades that increase your home value.
- Expect to pay about 7 percent to 10 percent of the home's sale price in closing costs, including real estate agent commissions, transfer taxes and attorney fees.
3. Plan your selling strategy.
- Determine how fast you need to sell your house and how much money you want to get from the sale.
- Identify a reputable real estate agent to market your home for you.
- Weigh the pros and cons of selling the home yourself.
- Hire an attorney.
- Make sure you land tax payments are up-to-date.
- Hire a land surveyor to identify and mark the property's boundaries and provide a sworn surveyor's plot plan.
4. Determine your home's fair market value (FMV) and set a price.
- Ask your real estate agent to provide you with the property's FMV. Click on Property Valuation and we would be happy to assist.
5. Prepare and stage the home.
- Have a yard sale. Sell, donate or trash everything you don't need.
- Make necessary repairs.
- Make improvements to increase your curb appeal, i.e. the home's external attractiveness when viewed from the street.
- De-clutter, depersonalise and decorate every room and outdoor areas so buyers can imagine themselves living in the home.
- Paint interior rooms neutral colours.
- Replace outdated lighting fixtures and window treatments.
- Keep the home in show-ready condition at all times.
6. Review purchase offers.
- Approach each offer as an opportunity to negotiate. Seek advice from your real estate agent.
- Keep emotions in check when receiving low-ball offers.
- Make counteroffers and negotiate.
- If you won't budge on price, offer financial incentives that don’t require cash out of your pocket, such as paying for part or all of the buyer's closing costs, furniture, appliances or repairs that maybe required.