Index
Seller Information
The Effects of Pricing
The Results of Over-Pricing: Many sellers believe that if they start with a high list price, they can always lower it later. However, when a property is priced too high, most often, it will experience little activity. As the price is lowered to meet market value, the property has already been on the market too long, and buyers are cautious. A property which has overstayed its welcome on the market will detract potential purchasers from even viewing your property. On occasion, the price will eventually drop below market value and the property will sell at a price below its true worth.
The Importance of Early Activity
New properties to the market will experience higher levels of activity than older properties on the market. This a crucial time when, Sales Representatives and potential buyers sit up and take notice. If a property is overpriced, interested parties will lose interest very quickly. By the time the price drops, interest is often completely lost.
Where do Buyers first find the home they purchase
Signing a Listing Agreement
The first formal step in marketing your property is to enter into a Listing Agreement - a contract that commits Royal LePage RCR Realty, and myself, to actively market your home for a specified period of time. It also commits you to a pre-established marketing fee that is to be paid upon the successful closing of the sale.
I may require the following documents
Plan of Survey or Location Certificate
A Survey of your property which outlines the lot size and location of buildings as well as details of encroachments from neighbouring properties. This may be required in certain areas to complete the sale of your home. Your legal professional may recommend a survey, especially if significant changes have been made to your property.
Property Tax Receipts
Most Listing Agreements require that the current annual property tax assessments be shown.
Mortgage Verification
Few homeowners know the exact balance of their mortgage as it is paid down. You will be asked to authorize your mortgage lender to provide the figures required.
Deed or Title Search
This document is a legal description of your property and the proof that you own it.
Other Documentation
In some instances, it may help the sale of your property if you can provide prospective buyers with information on such items as annual heating, electrical, and water expenses, as well as any recent home improvement costs.
Preparing Your Home for Showing
First impressions really count with home buyers. A small investment of time and effort can provide a BIG advantage when Sales Representatives show your home to prospective purchasers.
Here are some suggestions for preparing your home for showing:
General Impressions
- House exterior in good repair
- House number easy to see
- Eavestroughs, down spouts and soffits painted and in good repair
- Garage/carport clean and tidy
- Cracked or broken window panes replaced
First Impressions
- Lawn cut and raked
- Hedges & shrubs trimmed, gardens weeded & edged
- Leaves raked, walks swept, decks & patio cleared of leaves & debris
- Snow & ice cleared & salted
At the Front Door
- Doorbell works
- Door hardware in good repair
- Porch & foyer clean and tidy
Interior Maintenance
- Repair cracked plaster
- Touch up chipped paint
- Tighten door knobs & cupboard handles
- Clean furnace
- Replace burned out light bulbs
- Oil squeaky doors
Bathrooms
- Mirrors, fixtures & taps cleaned & polished
- Leaky tap & toilets repaired
- Seals around tubs and basins in good repair
- Floors cleaned, waste containers empty
- Towels clean & matching
- Clear away clutter
Kitchen
- Sinks & taps cleaned & polished
- Appliances cleaned
- Countertops cleaned
- Inside of cupboards clean & neat
- Dishes & clutter cleared
- Small appliances put away
Valuables
- Valuables should be locked safely away or taken with you, objects of art or figurines situated safely out of reach or put away.
Create a Buying Atmosphere
- Turn on all lights
- Drapes open during daylight
- Keep home at a comfortable temperature
- Light fireplace in cooler weather
- Home cleared of excess clutter
- Background music playing quietly
- Carpets freshly vacuumed
The Major Elements of an Offer
1. Price
Depends on the market and the buyers, but generally, the price offered is different from the asking price.
2. Deposit
The deposit shows the buyer's good faith and will be applied against the purchase price of the home when the sale closes. I will be able to advise you on the suitability of the amount of the deposit being offered.
3. Terms
Includes the total price the buyer is offering as well as the financing details. The buyer may be arranging his/her own financing or may ask to assume your existing mortgage if you have an attractive rate.
4. Conditions
These might include "subject to home inspection", "subject to the buyer obtaining financing", or "subject to the sale of the purchaser's property."
5. Inclusions and Exclusions
These might include appliances and certain fixtures or decorative items, such as window coverings or mirrors.
6. Closing or Possession Date
Generally, the day the title of the property is transferred to the buyer and funds are received by the seller, unless otherwise specified.