Sharing our industry knowledge is all part of the boutique experience at dutton+co. Take a look at the tips below if you're interested in selling your home.
Things to keep in mind...
1. The Listing Agreement
The listing agreement is a contract that provides and outlines forms and negotiations related to the sale of your property. The contract is between you and your agent's brokerage company. It is important that the agreement clearly outlines the rights and obligations of you and your agent and that it is an accurate representation of your property details.
The listing agreement will outline:
- Compensation for your real estate agent;
- Duration of the contract;
- Listing price of the property;
- Mortgage details of the property, including the mortgage balance, mortgage monthly payments and mortgage due date;
- An accurate description of the property;
- The amount of annual property taxes; and
- Any easements, rights of way, liens or charges against the property.
When you work with us, we'll make sure you also have a firm understanding of disclosure. Disclosure is the seller's obligation to disclose any relevant facts about the property for sale. Relevant facts include material details about the property such as anything that could materially affect the sale price or influence a buyer's decision to buy it. Post-sale disputes and lawsuits often relate to defects and disclosure; however, many of these disputes can be avoided if accurate and appropriate disclosures are made.
2. Determining the Listing Price
You may have an idea of how much your house is worth but it's important to have a professional value your home. You should be cautious about not pricing your property too high or too low. If it's too high, it will be difficult or impossible to sell, and if it is too low then you will sacrifice a portion of your investment.
We'll use our market and industry expertise to strategize a plan that takes into account all the factors that go into pricing your home for a successful sale.
3. Marketing Your Property
When marketing your home, we keep potential demographics in mind, and market accordingly in order to attract those buyers. Our marketing then aligns with our staging to ensure that buyers can picture themselves moving in as soon as they walk through the door.
But we can’t do it alone, we also connect you with reputable cleaners, interior designers and photographers that make your space sparkle.
Think the work is done? Not even close! We then use a grassroots approach to showcasing your listing both online and offline to connect personally with buyers while ensuring maximum reach.
4. Selecting the Right Buyer
Sometimes a home takes time to sell, remember to be patient and persistent. There are three common reasons that a home may not sell quickly: location, condition, and asking price.
You cannot change the location of your property, but you can improve the condition of your home and you can adjust your price. While your property is listed, you should be continuously comparing your asking price to similar properties in your neighbourhood. We'll make sure to review your marketing strategy on a regular basis and provide you with the following items while your property is listed:
- The number of showings
- Feedback from showings
- Updates on the marketplace
- Your property compared to the competition
5. Accepting an Offer
When you receive an offer it will detail:
- The buyer's price
- Any conditions that may apply
- The desired date of possession
- The date the offer expires
The buyer will give a deposit with the offer as an act of good faith. You are able to make a counter offer if you are not happy with the offer from the buyer. The seller and buyer may go back and forth to negotiate the final terms and conditions of the sale.
This is the time when you'll mostly wish you had a skilled negotiator going to bat for you. We'll not only frame your expectations for a less emotionally-draining experience, but we'll also work relentlessly to secure the best possible return on your investment.
Once the offer is agreed upon and signed off by all parties then it is a binding contract. Therefore, ensure that you understand and agree to all of the terms in the offer.
In addition, you may want your lawyer to review the offer before you sign it. Your lawyer should also make sure that compensation is received for any prepaid expenses such as utility bills or property taxes. Once these expenses are paid, then you will receive the money from the sale.
6. Possible Requests from the Buyer
Before closing, the buyer may ask you to provide a number of things such as:
- A current survey that shows that the house sits on the property that you own
- The title to the property
- A certificate for a well or septic system, stating that the system meets standards
- Access to the property for a home inspection