Westwood Conveyancing

Home Selling - A to Z

Whether you are selling for sale by owner (as a FSBO) or hiring a listing agent, the home selling process is identical.

Here are the steps for selling a home:

1) Choose a Listing Agent

• A listing agent will represent you and have a fiduciary responsibility to look out for your best interests.
• Interview agents and meet with at least three neighbourhood specialists.
• Negotiate your listing agreement, including term.

2) Choose your Conveyancer

• Prepare your contract of sale for your house or property.
• Give details of real estate agent chosen, price point etc

3) Get Home Ready for Sale

• Prepare your home for sale by cleaning, de-cluttering and improving curb appeal.
• Hire a professional decorator to style your home, or ask your real estate agent for help to make your home bigger, warmer, brighter … something to create the “mood”.
• Make repairs before selling.
• Protect your privacy while your home is on the market.
• If you're selling a home where pets live, think about making alternate plans for your pets.

4) Figure Out How Much Your Home is Worth

• A seller's biggest mistake is to overprice.
• Price your home in line with sold homes identified in a comparative market analysis report.
• Consider whether your market is hot, cold or neutral, and price according to the market temperature.

5) Market Your Home

• You or your agent should identify the sizzling selling points and choose advertising words to sell.
• Approve your agent's marketing campaign or figure out how to advertise your house for sale yourself.
• Take quality photographs and (if you can) put a 360-degree virtual tour online.
• Tweak marketing to increase traffic and showings.
• Post internet listings online. Your agent or you should saturate the internet with photographs and description of your home.

6) Show Your Home

• Your home will show better if you are selling in spring than selling in winter.
• Selling during the holidays will likely result in a lower sales price, regardless of what agents tell you.
• You've got only one chance - and sometimes only 3 seconds - to make a good first impression … so, think about the mood, temperature, scent, visual, lighting, food aroma etc
• Prepare for an open house and use the approach sparingly.
• Ask for buyer feedback (through your real estate agent) so you can adjust your price, condition or marketing campaigns accordingly.

7) Receive Purchase Offers and Negotiate

• Make certain that buyers who make a purchase offer are treated with respect and the offer is confirmed.
• If you receive a low offer, negotiate by issuing a counter offer - Don't ignore offers.
• Ask for a kick out clause or first right of refusal if the buyer's offer is contingent on selling a home.
• Consider making a counter offer contingent on buying a home, if market conditions warrant.
• Don't be afraid to make a full-price counter offer, if you are priced competitively.
• If you are priced right, prepare yourself for multiple offers.

8) Schedule Appraiser Appointment

• Clean the house the day before the appraiser arrives.
• If you receive a low appraisal, ask your agent about alternatives.

9) Co-operate with all Inspections

• Get ready for inspections - the home valuer, pest inspector, etc
• Ask your agent to provide you with a home inspection checklist so you will know which items an inspector will want to see.
• Expect that the inspector will want access to all areas so prepare accordingly
• Prepare as well for the final walk-through inspection.

10) Negotiate Request for Repair

• Ordinarily, sellers do not need to accept a buyer's request for repair; however, buyers can generally then cancel.
• You are entitled to a copy of the home inspection report, if the buyers request repairs.
• If you do not choose to make repairs, a buyer might instead accept a closing cost credit.

Source  : Bizenews

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