What to expect during the SELLING process! ✔
Selling a house can be a bit of a mystery sometimes but an agent will be the best asset you can have as they are there to take the mystery away and give you peace of mind! So first off thank you for considering me for the sale of your home!
So here goes...gonna start to take the mystery away....
Step 1 - Find awesome real estate agent - Check ✔ (congratulations)
Step 2 - Contact your mortgage company to determine the state of your current mortgage to understand if there are any payout penalties and what your current mortgage balance is. Also, do you have any additional lines of credit or loans which are secured to your home?
Step 3 - List home with an awesome real estate agent. :) This includes a listing contract which outlines many things including commissions costs and a data input form which outlines the details of the property
Commissions are 8/2 + tax (8% on the first 100k and 2% on the balance) of that 4/1 of it is provided to the buyer's agent.
Step 4 - A few of the many things I will do next (not going to bore you will all of the details) :
Have professional photo's📸 taken. This is a part of my service and has no costs for you, I will take care of it!
Create a Virtual tour, an actual tour you which allows you to walk through the home, not a slide show of pictures.
Have the house added to MLS, realtor.ca, www.theurbanfarmhousesaskatoon.com, kijiji.com plus many more online classifieds
Create the home book which includes listing info, area info, maps, utility breakdowns, etc) you will display this in the house when there are showings so the potential buyers can answer some of the questions they may have
Create online ads on Facebook
Step 5 - Your first Showing! I will contact you to coordinate the showing based on the agent's request. It is best to be out of the home for the showing, including the dogs. Some tips: blinds open and lights on, toilet seats down and avoid strong odors (good or bad).
Step 6 - Once we have an offer, I will present it to you and review all of the details. The offer will include details like:
offer price, deposit value, down payment value
conditions - typically - mortgage approval, home inspection, PCDS (Property condition disclosure statement which is basically a document with a bunch of questions about the property which the seller answers, ie have you ever had water issues) Conditions have a deadline to be removed, typically 7 - 10 days
Step 7 - We have 3 options at this point; accept (rarely happens), ignore (sometimes happens if the offer is really low) or counter (typical)Step 8 - Once we have an accepted offer the following happens:
The buyer will set to work on removing conditions, working with their lender for financing etc.
I will provide any documentation requested, PCDS etc
I will coordinate the scheduling of the home inspection.
Step 8 - Assuming all goes well with the mortgage and all inspections they will remove conditions and you will have a firm sale.
Step 8a - if for some reason they do not remove conditions - IE they can not get financing then we are back to step 5.
Step 9 - START PACKING! 📦
Step 10 - This is closer to the possession, you will need to meet with your lawyer (do you have one? I could recommend one when the time comes if you like) The lawyer will have you sign a butt load of papers! You should budget approximately $1000 - $1200 for lawyer fees. The fees when selling are a lot lower compared to buying as the buyer pays for the land title transfer fees.
Step 11 - MOVE OUT! 🚚 - on possession day I will confirm with the lawyer that the house is releasable (meaning everything is in place on both sides so I can provide keys) And I will coordinate getting the keys to the buyer's agent.
I hope this helps clear up some of your questions. Are you ready to get started?
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