STEPS ON SELLING YOUR HOME
ASSESS YOUR NEEDS:
It is important to determine the reasons that are motivating you to sell your current home. For example, if you have a growing family and you need more space you may be under less pressure to get your home ready to sell than if you were moving to a new city due to a career opportunity. Explore your short and long term goals and decide how selling your house fits into those goals. Doing this will help you to establish a time management path for selling your home.
We save you time and money by applying our expert knowledge to your particular needs and setting a realistic time frame for the process to proceed. We can explore all of the variables within your individual goals and how best to achieve them in our local real estate market. (back to top)
DETERMINE YOUR PRICE:
Your next objective should be to determine the best possible selling price for your house. You will need to take into account the state of our local market, the condition of your home, and sales of comparable homes in your neighborhood. It is often hard to maintain a non-biased view of your property, so you will want to gather the necessary information in the most objective way possible. If you want a truly objective opinion about the price of your home you could have an independent appraisal done. This will need to be paid for up front, in cash, and may cost between three and five hundred dollars.
Be reasonable about the price you set. You will always be better off setting a fair market value price than setting your price high expecting that someone will come along and be willing to pay it. If your home stays on the market too long because it is overpriced potential buyers may think that something is wrong with it and you may end up selling it for less than what you could have gotten if you had started out with a realistic asking price.
We save you time and money by educating you on how to set the asking price for your home and provide you with a brief (20 minutes) but valuable video ‘Pricing Your Home to Sell’. We will create a Comparative Market Analysis by taking into consideration the type of market you are in and recent sales of comparable properties. We will then guide you to the best fair market price that will help sell your house within the desired time frame. Usually, real estate agents have a better sense of market value than anyone else- including appraisers! (back to top)
PREPARE YOUR HOME FOR SALE:
It’s time to get your home into "showing and selling" condition. Most of us don't keep our homes in the condition it would need to be in to sell. Over the years those boxes in the corner of the garage just seem to multiply on their own. Things have broken that we just never get around to fixing and some things have just worn out. We just accept the fact that they will always be this way. It is this frame of mind that you have to break out of in order to get your house ready to show. How your house looks will have an immense impact on how quickly it sells and whether or not you get full market value for it.
First impressions are very important and you only get to make one. Approach your property from the buyer's standpoint. What needs to be changed to make a good first impression? This may mean that all you do is prune the trees and shrubs. On the other hand, it may mean that you completely repaint the house, inside and out. Do a "curb to door" check. The fewer obstacles between the buyer and the true appeal of your house the better. Keep in mind that over time we become accustomed to our surroundings. What's normal for you may be detrimental to the buyer. Find out more about your options when it comes to home improvement projects using our Gillette Real Estate Team’s complimentary ‘Home Staging Package’. For a brief example, make your house look as spacious as possible. Organize your closets and kitchen cabinets. Make sure storage areas are presentable. If you are showing during the day, pull back your curtains and drapes to show how bright and cheery your home is. If you are showing at night, turn on all of the lights to create a warm and welcoming environment for the prospective buyers.
A neutral home is the easiest to sell. A home that is marked with your personality and style may be harder to sell. You might even consider such things as removing obvious clues to your political affiliation and tucking away any biased literature that may be visible. This will reduce distractions and help the buyers to visualize the home as their own.
We save you time and money by providing an objective and expert opinion on what needs to be changed or improved, including our complimentary ‘Home Staging Package’ to present your home with the maximum potential appeal. We know what buyers are looking for because we are in the marketplace everyday. We sell more homes in our area than any other Realtor/Team so we have an invaluable pulse on the market. We will perform an analysis of the entire property and, taking into account the state of our market, point you to the changes that need to be made in order to sell it for the most amount of money and as quickly as possible. (back to top)
MARKETING YOUR HOME:
Now that your home is ready, it's time to effectively and aggressively market it. Establishing a marketing strategy is a must. You will have to decide how you want to get the word out there that your house is for sale. There are many different ways to advertise your property. A yard sign, flyers, and direct marketing are just a few of the many options you have. You will need to choose a program that will bring the most potential buyers to your home. The first 2-4 weeks should be the busiest.
We save you time and money by exposing your house to the most potential buyers possible. We will present to you the best marketing plan that will have the highest possibility of bringing not only the most buyers, but the most qualified buyers, to your doorstep. We continually offer the most advanced, effective, and aggressive home selling tools available in the Nanaimo area. ,/font>(back to top)
RECEIVING AN OFFER TO PURCHASE:
Once a buyer decides they would like to buy your home, an offer will be presented. You will review the written document taking care to note what needs to be done by both parties to execute the transaction. The contract should protect the best interests of all parties involved and should be comprehensive in nature. Once you accept the contract, it may be too late to make any changes. The contract, though not limited to this list, should include the following:
- A legal description of the property
- The offering price
- Financing arrangements
- A list of fees and who will pay them
- Amount of the deposit
- Inspection rights and possible repair allowances
- The method of conveying the title and who will handle the closing
- A list of appliances and furnishings which will stay with the home
- The completion, possession, and adjustment dates
- Any relevant contingencies/subjects
Remember that the legalities of this phase are very important. If you have any questions or concerns, they need to be addressed right away.
We save you time and money by making sure that the offer is presented to you by a qualified buyer. There is no reason to review an offer if the person(s) making it will not be able to actually buy your home. We review the written offer to make sure that it is written in a proper manner and covers the necessary areas. (back to top)
NEGOTIATING AN OFFER TO PURCHASE:
Most offers to purchase your home will require some level of negotiating to come to a win-win agreement. It is critical that you be well versed on the legalities of the real estate contract used in your area. In addition to legal issues, you will need to understand contract basics, including what each contract clause means to you and your buyer, what you will net from the sale of your home, and what areas in the contract lend themselves easiest to negotiation.
To really gain some insight into why potential buyers are pursuing the purchase of your house and how they might proceed in the negotiations, it is important to know as much about the buyer as possible, especially their motivation for buying. Once both parties have reached a point where the deal is acceptable, you must be certain that you have a legally executable contract.
We save you time and money by representing you through the entire process of offer, negotiation, and acceptance. We will review the written offer with you to make sure that you thoroughly understand what the buyers are offering and what they are asking in return. We will help you understand the issues and how they will effect you. It is our primary responsibility to protect your best interest throughout these negotiations. We are highly skilled in the negotiation process with extensive experience in getting you the highest market value for your home. (back to top)
SATISFYING YOUR OFFER:
Once you have accepted an offer to sell your home you will need to make a list of all the things you must do, and a list of all the things the buyer must do, in order to proceed successfully to closing. The property may need to be formally appraised, surveyed, inspected or repaired. Depending on the specifics reached during the negotiations, you may pay for all, some, or none of these items. If each procedure returns acceptable results as defined by the contract, then the sale may continue. If there are problems with the property the terms set forth in the contract will dictate your next step. Depending on the contract, you or the buyer may decide to walk away, open a new round of negotiations, or close.
We save you time and money by coordinating all the necessary items that must be done to finalize the sale. We are directly involved and keep you informed as to the results of each action and what effect, if any, it will have on the sale of the property. We will also help you coordinate any actions you must take to keep the sale moving forward. There are some sales that go smoothly and some that require a lot of work to get to the closing table. Either way, we will prove to be a valuable resource to you. (back to top)
CLOSING:
A few days before the closing you will want to contact whichever entity that is closing the transaction and make sure that all of the necessary forms and documents have been prepared and are going to be available to sign on the appropriate date. It would be a shame to get this close to selling and have the deal fall through because of a document not being at the right place at the right time. You should also begin to make arrangements for your upcoming move if you have not done so.
We save you time and money by making sure that all of the necessary documentation is prepared for closing. They will also make sure that all parties have done what they need to do so that the closing can proceed at the date and time planned. (back to top)
POSSESSION:
Congratulations on the successful sale of your home. Hopefully, everything went smoothly and you will be vacating your house in the time frame that you had anticipated. You should make a list of all the items you will need to do to turn the property over to the new owners. You will need to do such things as make sure that all of the local services (i.e. electricity, gas, lawn care, cable, etc.) have been canceled or, if the new owner is going to retain some of the services, the name for the account should be changed. The property and anything assigned to the buyer according to the contract, should be prepared appropriately for the new owners.
We will save you time and money by helping you coordinate your move. We offer you helpful checklists that you can use to make sure that everything is done so that your move goes as smoothly as possible. We handle the transfer of your home key to the new buyer upon successful completion and/or possession time line. We are directly involved in all aspects of the process, representing you with the very best real estate service.