If you\u2019re thinking about selling your home, you may be wondering where to begin. We\u2019ve laid out all the steps you must take, from finding the right REALTOR\u00ae to closing the deal. Let this article be your go-to resource when you\u2019re preparing to sell real estate. Below you\u2019ll find thorough information for each step of the way.<\/p>\n
A REALTOR\u00ae is not just a licensed or registered broker or real estate agent. A REALTOR\u00ae is a member of the Canadian Real Estate Association (CREA) and adheres to the REALTOR\u00ae Code of Ethics, which requires high standards of professionalism and expertise. Unlicensed agents won\u2019t have access to crucial data and tools, like the MLS\u00ae Home Price Index (HPI)\u2014exclusive to REALTORS\u00ae, it\u2019s the most advanced and accurate tool to gauge a neighbourhood\u2019s home price levels and trends\u2014or be able to access MLS\u00ae Systems that can vastly increase your marketing power.<\/p>\n
A REALTOR\u00ae is your No. 1 resource and support to navigate the home selling process smoothly. They can help:<\/p>\n
Sticking with a REALTOR\u00ae you know and trust makes sense. In general, the REALTOR\u00ae who helped you buy your home is probably a good candidate for helping you sell it. But what if you\u2019re on the hunt for a new REALTOR\u00ae? Here are a few things you can do:<\/p>\n
A REALTOR\u00ae is your local real estate expert. Your REALTOR\u00ae understands what\u2019s happening in your local market, as well as industry trends that may impact how you sell your home. Using their exclusive industry knowledge and tools (like the MLS\u00ae HPI), REALTORS\u00ae can help you set the right price, making sure you don\u2019t miss out on potential earnings or intimidate potential buyers.<\/p>\n
Learn more about pricing your home:<\/p>\n
If you have the time and money to invest in home renovations, they can help increase the value of your home. Your REALTOR\u00ae can also advise if it\u2019s worthwhile to do a pre-listing home inspection to help identify and address any required fixes that could hinder your home from selling.<\/p>\n
Typical renovations and updates to consider before selling your home include:<\/strong><\/p>\n Learn more about home renovations and improvements:<\/p>\n There are also costs and financial implications to consider when selling a home. Always consult a professional financial advisor before making personal financial decisions, especially when it\u2019s likely to be one of the largest transactions you\u2019ll make in your life.<\/p>\n Discharge mortgage<\/strong><\/p>\n This refers to using the proceeds from the sale of your home to discharge or pay off your current mortgage. In an open mortgage, you can pay it all off without any penalties. If you have a closed mortgage, be prepared to pay a penalty.<\/p>\n Portable mortgage<\/strong><\/p>\n A portable mortgage means you can take your mortgage money with you and buy a new home, without penalty.<\/p>\n Capital gains tax<\/strong><\/p>\n If you had tenants living in part of your home, such as the basement, you\u2019ll pay capital gains tax on a portion of your profits. You may also owe capital gains tax if you\u2019re selling a vacation or investment property.<\/p>\n Signing a listing agreement officially gives your REALTOR\u00ae the green light to start the process of selling your home. The agreement serves three main purposes:<\/p>\n Prepare your home for the market<\/strong><\/p>\n Before your REALTOR\u00ae gets professional photos taken and holds any viewings or open houses, make sure you\u2019re presenting your home in its best light. Below are a few typical tasks homeowners can do before putting their home on the market.<\/p>\n Get more tips for preparing your house for selling:<\/p>\n Your REALTOR\u00ae will use every tool in their arsenal to advertise your home. This typically includes combining these following tactics:<\/p>\n Negotiating a purchase price is one of the most intimidating aspects of the home buying and selling process. Working with a REALTOR\u00ae ensures you\u2019re getting the best price and are accepting an offer that\u2019s in your best interest. Your REALTOR\u00ae can help you every step of the way.<\/p>\n When selling, it\u2019s essential to have a real estate lawyer handle all the various legal documents that change hands. Your REALTOR\u00ae can also give you the name(s) of experienced lawyers in your area, but make sure you\u2019re doing your own proper due diligence. Your lawyer will review important documents that require your signature.<\/p>\n When you receive an offer, your REALTOR\u00ae can advise you on the merits of the offer and the asking price, closing date, and conditions. Take some time to consider the offers you\u2019re presented! In general, there are three options when responding to an offer:<\/p>\n You settled on the price you were hoping for, maybe even more. The closing date looks good and there are reasonable or no conditions. Your REALTOR\u00ae will formally accept the offer, and you\u2019ll start to move on to the closing process.<\/p>\n If you receive an offer that\u2019s not close enough to your asking price, or that has unreasonable conditions, you can reject the offer. Your REALTOR\u00ae will communicate this to the buyer or buyer\u2019s representative.<\/p>\n The offer is close, but something\u2019s not quite right. Your REALTOR\u00ae can help with the delicate art of negotiation by \u201csigning back\u201d or sending a counteroffer. Some of the most common reasons for a sign back include:<\/p>\n Congratulations, the negotiations were a success! Before your house is truly sold, it\u2019s time for the vital final steps, known as \u201cclosing\u201d. Your REALTOR\u00ae and lawyer will take care of the complex legal maneuvers.<\/p>\n Find out more about a seller\u2019s responsibilities for closing:<\/p>\n If you can, start packing early and spread it out over many days. Label all your boxes by room (and especially if the boxes carry anything fragile) so the movers know where to put them and how to treat the boxes. If you intend to hire professionals, contact a moving company, or truck rental company well in advance and ahead of the exchange of keys.<\/p>\n Tip: <\/strong>Set up mail forwarding from your previous address, and ensure to change your address in your records, especially for banking, the Canada Revenue Agency and government accounts.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":" If you\u2019re thinking about selling your home, you may be wondering where to begin. We\u2019ve laid out all the steps you must take, from finding the right REALTOR\u00ae to closing the deal. Let this article be your go-to resource when you\u2019re preparing to sell real estate. Below you\u2019ll find thorough information for each step of […]<\/p>\n","protected":false},"author":2,"featured_media":45074,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[163],"tags":[164,30],"coauthors":[],"class_list":["post-635","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-listing-insight","tag-listing-tips","tag-real-estate"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/williamtrealestate.com\/index.php?rest_route=\/wp\/v2\/posts\/635","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/williamtrealestate.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/williamtrealestate.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/williamtrealestate.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/williamtrealestate.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=635"}],"version-history":[{"count":2,"href":"https:\/\/williamtrealestate.com\/index.php?rest_route=\/wp\/v2\/posts\/635\/revisions"}],"predecessor-version":[{"id":45076,"href":"https:\/\/williamtrealestate.com\/index.php?rest_route=\/wp\/v2\/posts\/635\/revisions\/45076"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/williamtrealestate.com\/index.php?rest_route=\/wp\/v2\/media\/45074"}],"wp:attachment":[{"href":"https:\/\/williamtrealestate.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=635"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/williamtrealestate.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=635"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/williamtrealestate.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=635"},{"taxonomy":"author","embeddable":true,"href":"https:\/\/williamtrealestate.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcoauthors&post=635"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}\n
\n
\n
Managing your money before selling<\/h3>\n
Signing a Listing Agreement<\/h2>\n
\n
What the listing agreement includes<\/h4>\n
\n
Marketing Your Home<\/h2>\n
\n
\n
\n
Marketing your listing<\/h3>\n
\n
Receiving an Offer<\/h2>\n
Consult with a lawyer<\/h3>\n
Responding to an offer<\/h3>\n
\n
\n
\n
\n
Closing the Sale<\/h2>\n
Closing tips for sellers<\/h3>\n
\n
\n
\n
\n
How your lawyer helps with the closing process<\/h3>\n
\n
Moving out<\/strong><\/h3>\n