The Seller’s Guide


 

Congrats!  You’ve decided to list your home.  Click on the links below for things you need to know as the Seller: Preparing Your Home for Sale | Pricing Your Home | Listing and Marketing Your Home | Reviewing and Accepting an Offer | Closing Costs

Have you ever heard of the saying “the first impression is a lasting one”?  It’s true especially when it comes time to listing your home.  The majority of showings happen within the first few days after a property has been listed on the market.  While preparing your home for sale can be a lot of work (amidst the other things happening in your busy lives), it will certainly pay off in the end. Below are some tips to prepare your home for sale:

 

1. De-clutter, de-clutter, de-clutter! Many of us tend to accumulate things over the years and it can be quite overwhelming for future homebuyers.  Try to get rid of the clutter and de-personalize as much as possible – future homebuyers need to picture themselves living in your home.

2. Repairing things around the house. Details matter.  Have a broken doorknob?  A burnt out light bulb?  Scuffs on the wall?  Two words: Fix them.  The last thing you want is for a potential buyer to walk through your home and point out all the things that need to be fixed.  A little goes a long way, trust me.

3. Clean, clean, clean! You’re going to want to ensure your home is spotless, which means every nook and cranny needs to be dusted, swept and wiped.  Future homebuyers like to open everything from cupboards, fridges, dishwashers, closets, etc., so it’s best to ensure everything is cleaned and maintained while your home is listed on the market.

4. Staging your home. Decorate your home to showcase your home’s best assets.  It doesn’t necessarily have to be a costly endeavor but things such as painting the walls to a more neutral colour, updating the light fixtures, replacing the shower curtains, etc.  Work with your Realtor to figure out how to optimize the space of each room in your home so they appeal to future Buyers.

Having the right pricing strategy in place is important when it comes to selling your home.  What you think your home is worth may be very different from what Buyers think your home is worth. A few things should be considered:

  • What are the comparables (recent sales and current listings) going for in your neighbourhood?
  • What are the current market conditions?

There’s a lot more to listing your home than putting it on MLS.  Part of a Realtor’s role is to connect Buyers with Sellers, and they do so by developing a comprehensive marketing plan to ensure your home is properly exposed. A solid marketing plan should consist of the following:

  • Determining who your target Buyer will be
  • Proper marketing material that go beyond MLS, which include elements of traditional and digital/social marketing
  • Professional photography (no your phone’s camera does not count!)

Getting an offer on your home can be quite exciting!  If you are unfamiliar with the process, here is what you can expect:

 

Receiving the offer

The Buyer’s offer (aka the Agreement of Purchase and Sale) can be: (1) emailed directly to your Realtor, (2) presented to you and your Realtor in person or (3) faxed.

 

Contents of the Offer aka Agreement of Purchase and Sale

The Offer will contain things such as:

    • The price the Buyer is willing to pay
    • The deposit amount
    • The closing date
    • Conditions (e.g. financing, home inspection)
    • Things they would like included (e.g. appliances, light fixtures)

As the Seller, you can:

1. Accept the offer as submitted by the Buyer

2. Counter the offer and make updates as needed

3. Decline the offer

Great, all your hard work has paid off and your house has sold firm (both the Buyer and Seller have reached a consensus and all conditions have been met), now it’s time to prepare for closing. While you may receive some adjustments from the Buyer for items that you may have prepaid for (e.g. property taxes, utilities, etc.), you can still expect to pay for things such as:

    • Lawyer fees
    • Real estate commissions
    • Applicable HST for professional services
    • Balance of mortgage loan and discharge fees (if applicable)
    • Unpaid property taxes, utilities (if applicable)

The amounts will be deducted from the proceeds of the sale and will be explained in full detail by your lawyer.

Address
Century 21 Atria Realty Inc., Brokerage*
1550 16th Ave. #C200 South
Richmond Hill, ON L4B 3K9
Contact
D 416.684.5372
O. 905.883.1988
E. info@cynthiahu.ca
Century
*Each office is independently owned and operated
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