A Home Seller's Guide For Ontario
It’s a dream for every home seller to have their house sell fast and fetch them top dollar. To achieve this dream, you need careful planning and organization. Most people often make the decision to sell a home on their own.
While this could save you money, few home sellers have sold their homes successfully. Selling requires time, hard work, patience and expertise, which you obviously lack. If you are a first time home seller in Ontario, the following guide could help make the process easier, with the right help from professionals.
Deciding to Sell
Look at the current housing market and decide whether it’s the right time to sell. You should also decide if you are better off buying a new home before or after you sell your home.
Find a Real Estate Agent
A real estate agent is an expert in advertising, showing and finalizing the legal requirements of selling your property. He or she can network with other agents and find you a buyer. Find a real estate agent who listens to you; the key to a good relationship is strong communication. Sign an agreement with your agent; it details the commission, estimated sale price, the advertising costs and other costs.
Staging Your Home
Staging your home in an appealing manner could send homebuyers scurrying for their checkbooks. Appearance plays a major role during the buyer decision-making process. Most buyers are driven to buy a home by their emotions and not logical response. With that in mind, it is important to stage your home in an appealing manner. Here is how to:
- Remove all your personal things such as pictures and family heirlooms; you don’t want to distract your buyers
- Rearrange the closets and cabinets, the buyers may decide to take a look inside. Neatly arranged cabinets will create a lasting impression in the buyer’s mind
- Remove all the clutter and furniture to create the illusion of more space. A cluttered room tend to appear small and dirty
- Make minor repairs and replace some things such as leaking faucets and cracked floor tiles. Paint your homes in neutral colors that appeal to most buyers
- Ensure that your house is clean, well lit and has plenty of fresh air. Polish your walls and floors to give the house a new breath of life
- Upgrade your curb and make it more appealing. It’s the first thing the buyers will see. Some buyers will not bother to view the house just by having a glance
Advertising and Showing of the Property
Your realtor is in-charge of using their marketing tools to advertise and show your house to potential buyers. He or she will take photographs to highlight the special features of your home and place them in the local real estate board. This is a way of providing buyers with an easy means to access information about your home.
Sale and Negotiation
Your agent will represent you during the negotiation. During this time, it’s important to direct the pace and length of the process. By understanding the buyer, you will have an upper hand during the negotiating process because you are aware of the buyer’s limitations.
Complete the Contract
Make sure all the terms, costs and responsibilities are clearly spelt out in the contract. Disclose all the defects associated with the house, failure to do this could cause serious legal ramifications.
After meeting all the legal and financial requirements, you can hand over the keys in exchange for balance of payment from the buyer or bank.