Home Selling Process

Step # 1 – Finding the right time to sell your House: Time: The best months to list a house for sale in Toronto are February, March, April, May, June and September when Buyers are motivated. State of the real estate market – Interest rates and consumer confidence affect prices. Your own personal needs and goals – If you’re moving out of the city or have already bought a new house, then that timing will likely override everything else. Likewise, an upcoming baby, need for live-in nanny, wedding or divorce might dictate your timing too.

Step # 2 – Get Ready: De-clutter stage and clean: With Decluttering you maximize the space and allow potential Buyers imagine themselves at home. Remove personal items, smaller furniture will make the rooms look bigger so consider storing some of them offsite during sale. Clear out your closets. Make sure every room is staged to its optimal use .I will  guide you to stage your home. The cleaner your house is, the faster it will sell. Buyers look inside your closets, your kitchen cupboards and your bathroom vanity. Make sure everything sparkles!

Step # 3 – Get Set: Get your documents together I will be asking you for copies of your heating, electrical and utility and tax bills, so take the time to photocopy or scan them. Any current warranties and manuals should be gathered too. Make a list of renovations and repairs that have been completed since you have owned the house.  Be prepared to discuss with me any current issues with the house Make an extra set of keys  You’ll likely have a lockbox at your house so that real estate agents can show your home to their Buyers. Get a pre-list home inspection –before you put your house on the market will help you identify any issues with the home that might be objections for Buyers. For example: the home inspector may determine that your house needs a new roof or heating system. With that information, you can decide to fix the roof or reflect this to your asking price. If you’re pricing your home for bidding war, having the pre-listing home inspection available to Buyers will encourage them to make offers.

Step # 4 – Pricing your house for sale: Setting the Price Arriving at an accurate estimate of value for your home involves analyzing your home and comparing it to other, similar houses for sale or recently sold in your neighborhood. Most important is Recent sales on your street and in your neighborhood,Recent sales of similar properties in nearby neighbourhoods, Properties currently on the market, Current market conditions, The size, finishes and condition of your home, Location – what’s happening in your neighbourhood and how people expect it to change in the short and medium terms Other things that can be important ,Parking space and/or a garage, The basement (whether or not it’s finished or can be used as a second apartment, separate entrance) ,Closets and storage, Style (modern vs character, etc.), how big is the backyard and is there privacy,walking distance to schools,shopping centers, close to train tracks, busy street matters all.

Step # 5 – Marketing:  One of my most important jobs will be making sure potential Buyers see your house. Marketing campaign for your house should aim to make people fall in love with your house. Real estate marketing should include professional Photography/Videography –Most Buyers will see your home for the first time online, and if the photos don’t capture their attention, they’ll move on to the next house and be lost to you forever. For Sale Signs –Buyers  cruise their target neighborhoods in search of their perfect house, so a For Sale sign on the lawn is always recommended.  Open Houses –open houses are a great way to showcase your home to real potential Buyers. I may suggest hosting an open house on Saturday, Sunday or on both days, so be prepared to leave your home for 2, 3 or 4 hours. Online Marketing –Buyers starting their search on the web, being found online is critical! And…I promote your house on my website and I use other websites to your house’s advantage. Email Marketing/Social Media – I promote listings to other agents via email, our company has more than 500 real agents . Print Marketing – I will be printing feature sheets for your home so that the potential Buyers who see it will have a take away of information and photos. 

Step # 6 – Showings: When Buyers make an appointment to see your house, keep the following in mind:Leave your house! Having owner around is very distracting.Be flexible with showing times – Most Buyers look at properties in the evening or on the weekends. Board the dogs! Take the dogs away for a walk or board them.Consider temporarily moving out of your home while it’s for sale – If your home is popular with Buyers, you may have 5 or 10 or more showings every day. If you have kids or pets consider going on a weekend getaway or staying at a friends’ or parents’ house.Cleanliness matters! It isn’t enough to have a clean house on day 1. You’ll need to wash the dishes, make the beds, vacuum the floors and weed the garden every day while it’s listed for sale.
Step 7# – Offers : Price, closing date , deposit and conditions needs to be negotiated. Offers usually have these 2 conditions. A financing condition, it allows Buyers get qualified for mortgage with a lender A home inspection condition, which allows the Buyer to bring in a home inspector to check the house.In the event of multiple offers ,offers will generally be “firm”, meaning there are no conditions. 

Step # 8 – Closing Day: As closing day (the day the new Buyer takes possession) approaches, you or your lawyer will need to make sure to:·     Inform the utility companies of your impending move·         Inform the city so that you don’t continue to pay property taxes·     Cancel your home insurance (to take effect after  you have confirmation that the sale has closed)A day or two before closing day, you’ll need to visit your lawyer and sign a lot of paperwork. When the property is transferred to the new owner, you will get the money via your lawyer (less real estate commissions, legal fees and any adjustments).