Chris Killam

SELLER’S GUIDE

Listing a home and getting to a successful sale can be a longer process than many think, but like most things, having a plan {and working that plan} and taking it one step at a time can take much of the stress out.


Consultation

The initial consultation you have with your REALTOR® will be about understanding your needs, priorities, where you are moving to and time frame. Once this is established your REALTOR will want to view the property and gather relevant information for a full evaluation.

Having had a thorough walk through of the property your Realtor will complete an in-depth Comparative Market Analysis(CMA). They will compare the size, condition, land appreciation and unique features of the property you wish to sell against similar properties sold in the area. Market conditions will also be considered for pricing strategy. The agent will return with their findings and present them for your review. You will be presented with a price range that the property will fall within as well as a comprehensive marketing plan that will target the right audience across the most effective channels.


Preparing To Sell

You will want to make sure your home is clean and in top condition, some items to consider and address are as follows:

· decluttering is a must

· cosmetic repairs, such as painting, touching up floors and baseboards, even replacing carpets

· personal photos removed from shelves and walls*

· home staging can also help present the home in the best possible light

· pre-inspection to outline potential issues to address before listing

*photos are removed so the prospective buyer can see themselves living in the house, not feel like they are walking through someone else’s.

At this time professional photographs and room dimensions for floor plans will be taken. Marketing materials will be put together with feature brochures to be placed prominently in the home.

Arranging documents ahead of time can help to smooth the process, as your Realtor can have them on hand for the buyer. Items to get together:

· property tax documents, power bills and any other bills associated with the property

· condominium rules and regulations, declaration, building finances, and condo meeting minutes etc. from building management


Viewings

Once your property is on the market you will want to keep your house in “Show Ready” condition, remove any pets and arrange to be elsewhere when your home is being shown. Be as flexible as possible to accommodate showings. The easier it is to view, the more people will see the property. The more people that see it the faster it will sell.


Offers and Negotiations

There are two ways the offer process can take place, in some markets a property is brought to market, viewings take place and you wait for an offer. In the hot seller’s market that we are experiencing and the regular occurrence of multiple offers, the process is a somewhat different. In today’s market properties are listed with a date for offers to be reviewed, this is known as a “hold back.” A week hold back on offers is common to allow for as many potential buyers as possible to view the property.

Offers are then registered with your Realtor’s brokerage, as the offer time draws closer the buyer’s agents are informed of the number of expected offers. This allows them to determine how they will proceed with their offer. Some potential buyers will increase the amount they are willing to offer to get the best possible chance of winning the bid. Some others may back out if there are too much competition.

Offer night can be held at your home or at your Realtor’s office. Some offers will be simply emailed in, some agents will come in person with their client’s offer. Many agents are now using e-signatures for more secure and easier document handling. In the case of the agents who arrive in person, they will present their offers one at a time and will explain who their client is and the details of their offer.

Main points to consider within each offer are:

· price (obvi)

· deposit amount

· closing date

· inspection (if not provided)

· financing date

· condo document review

There can be many additional clauses within an offer and all must be reviewed carefully by you and your Realtor.

You may accept the offer that suits your needs best or if the offers are close, send them back to see if they would like to increase their offers or make any adjustments. You may also want to engage just one offer with a counter offer. You will work closely with your Realtor to identify the offer that best satisfies your needs. The conclusion of the process will result in agreement upon the price, terms and closing date that suits both parties.

The final offer should be forwarded to the lawyer overseeing your transaction. If you are unsure of who to use, your Realtor should have a list of respected real estate lawyers for you to select from.


Preparing for Closing

Between negotiating a firm agreement and closing you will be very busy. If you haven’t already purchased a new home, this will be an important time to make that happen. (see Buyer’s Guide *insert hyperlink*)

During this time you will need to take care of the following:

· book movers

· arrange power, internet and cable services to your new address

· mail should be forwarded to your new address

· Book moving elevators well in advance

· PACK (or have the movers do it)


Closing

In the days preceding closing you will meet with your lawyer to sign the documents for sale. You will want to have moved out and into your new home prior to closing. The buyer will usually ask to perform a final inspection of the property before closing. Any fixtures and appliances that are to remain should be in good working order at closing. The property should be empty and free of debris for this inspection.


After Closing

Should you have any questions, or need anything at all moving forward after closing your Realtor should always be available. I typically stay in touch with my clients for years after closing and I’m always happy to help in any way I can.