Selling your home is a complex, multi-step process that calls for the expertise of a Real Estate Agent. There are many things you will need to consider, and to assist you with this, here’s a general overview of what to expect and prepare.
Ensure Your Finances Are in Order
Don’t worry if you are still paying off your mortgage, there are several options depending on what type of mortgage you have. However, you will need to talk to your lender before you can proceed.
Meet With a Real Estate Agent
It is important to partner with a Real Estate Agent you feel completely comfortable with. Consider your options. A good Real Estate Agent can help you price your home to sell, answer questions such as, “When is a good time to sell?” and has in-depth knowledge of the market.
Start your search for a reputable Real Estate Agent, by checking if family and friends have a preferred Real Estate Agent or search online. Visit your local real estate office and pay attention to neighbourhood 'For Sale' signs.
Listing Your Home
Pricing your home too low or too high is not an option. Setting a fair price will attract more potential buyers, and give your home more exposure. Your Real Estate Agent should be able to explain to you the multitude of factors influencing pricing, including: competitive pricing, current market stats, and of course the estimated value of your home.
Marketing And Promotion
The next step will be to sign a Listing Agreement, which gives your REALTOR® permission to post your property on MLS (Multiple Listing Service). They will then begin marketing your home through a variety of mediums — digital and traditional — and inform other REALTORS® (representing buyers) that your property is on the market. Your REALTOR® can also help you prepare your home for staging.
After the hard work of marketing and promoting your home is successful, you will hopefully have a few offers on the table. Once you have accepted an offer, your buyer will want to conduct a home inspection and negotiate the cost of any repairs. Finally, your lawyer and Real Estate Agent will walk you through the paperwork and legal obligations needed to close.
C o n g r a t u l a t i o n s ! With the sale of your home complete, you can now begin looking for a new place.