There are a million different reasons why people sell their homes, but every seller has one thing in common: the desire to get as much money as possible from their existing residence as quickly and as hassle-free as possible. (If your home is your principal residence, you won't have to pay capital gains tax on any profits from the sale. If, on the other hand, it is an investment property, prepare for the tax man!)
Before you begin the selling process, really evaluate why you're moving. Do you have too few rooms, or too many? Has your job moved to another city and you're relocating? Are the neighbours driving you away? Or are you simply looking for a change? A complete analysis of your current position will set a good foundation for your next home hunt.
Buy or Sell First?
Buy or sell first? That's tricky. After all, if you find a purchaser for your existing home, before you've found a new one, you may find yourself living out of a suitcase if convenient closing dates can not be negotiated. On the other hand, if you find your dream home before you have sold your existing home, you may be faced with carrying two mortgages for a time.
So how do you manage? Easy. Do your homework and have a good idea about the neighbourhood and type of home you're looking for. Do an honest evaluation of your family's needs and budget.
Speak to your sales representative and start your new home search as soon as your existing home hits the market.
If you've found a home, before you've sold your existing one, use "sale of your existing home" as a condition on your offer. If you don't sell your house within a fixed period of time, you can choose not to go through with the offer. This, however, is a difficult condition for many vendors to agree upon and you may find that you have to forgo your price negotiating power.
Purchasing a home before you sell could be a risky strategy if you're counting on the proceeds from the sale.
If you've found a purchaser before you've found your next home, use "purchase of a new home" as a condition when you sign back the agreement. Again, it will only be for a fixed time. Even if you have not found the ideal next house by the time the deal closes, you may still wish to proceed with the offer. As a buyer with a "sold house" you will be in a better position to negotiate price.
Make Your House More Sellable
While we all believe that our home is our castle, our personal tastes may not appeal to everyone. Your sales representative will work with you to give you an impartial analysis of your home - how it relates to other "competing" homes on the market and how your home reflects current design and style trends. Your sales representative will also take a good look at the general condition and upkeep of your dwelling.
Overall, your sales representative will work with you to position your home on the market so that your sales experience will take place as expeditiously as possible.
Advertise Your Home on Various Internet Real Estate Portals
Your home will be advertised on many Internet Real Estate Portals to ensure that the details of your home will be seen by a large number of potential buyers.
Arrange Showings
In addition to giving your home the once over with a mop and dust cloth, have your sales representative prepare a home feature sheet. This is a one page synopsis of your home that highlights lot size, room dimensions, features and upgrades as well as utility costs and taxes. Prospective buyers will take a sheet and refer to it while viewing your home. Plus, it makes for a great reference sheet when the buyers are comparing properties.
Open Houses are a valuable tool in promoting your home to today's Buyer. Like the viewings, you will not be present, but your sales representative will be. Open Houses are typically held on the weekend and can run from 1.5 to 2 hours, depending on the property location or size. Ensuring the home is meticulously clean, free from clutter, odours and animals help to present your home to the public in the best possible light.
Selling a home involves many steps and the help of professional service providers; having a sales representative at your side helps make for the most positive experience possible. Visit the 'Did you Know?' section for an insider look into the many details of the real estate experience we have created from our years of experience in this industry.
The Viewing: When a sales representative has a client who is interested in your home, they will first call to make an appointment with your sales representative. If you're lucky, you'll have time for the last-minute tidying. Of course, you can say no if the prospective purchaser wishes to come at an inconvenient time.
All viewings are booked through the sales representative's office and an active, licensed sales representative must accompany the buyers through the home, every time. There is no reason a sales representative should arrive on your doorstep without contacting the your agent's office first. Under no circumstances should you allow anyone through your home that has not been registered by your agent or agent's office to view the home. Should anyone, even a sales representative, show up without a scheduled appointment simply pass them your agent's business card and ask them to call to make an appointment; even if that appointment turns out to happen 10 minutes later because they are parked in front of your home.