Information for Sellers | Tara Kennedy | Tara Kennedy Real Estate

Information for Sellers When Selling Your Home by Tara Kennedy | Tara Kennedy Real Estate

Define your needs. 
Write down all the reasons for selling your home. Ask yourself, “Why do I want to sell and what do I expect to accomplish with the sale?” For example, a growing family may prompt your need for a larger home, or a job opportunity in another city may necessitate a move. For your goals, write down if you’d like to sell your house within a certain time frame or make a particular profit margin. Work with your real estate agent to map out the best path to achieve your objectives and set a realistic time frame for the sale. 

Review your price. 
Your next objective should be to determine the best possible selling price for your house. Setting a fair asking price from the outset will generate the most activity from other real estate agents and buyers. You will need to take into account the condition of your home, what comparable homes in your neighborhood are selling for, and state of the overall market in your area. It’s often difficult to remain unbiased when putting a price on your home, so your real estate agent’s expertise is invaluable at this step. Your agent will know what comparable homes are selling for in your neighborhood and the average time those homes are sitting on the market. If you want a truly objective opinion about the price of your home, you could have an appraisal done. This typically costs a few hundred dollars.

Remember: You’re always better off setting a fair market value price than setting your price too high. Studies show that homes priced higher than 3 percent of their market value take longer to sell. If your home sits on the market for too long, potential buyers may think there is something wrong with the property. Often, when this happens, the seller has to drop the price below market value to compete with newer, reasonably priced listings.

Prepare your home. 

Most of us don’t keep our homes in “showroom” condition. We tend to overlook piles of boxes in the garage, broken porch lights, and doors or windows that stick. It’s time to break out of that owner’s mindset and get your house in tip-top shape. The condition of your home will affect how quickly it sells and the price the buyer is willing to offer. First impressions are the most important. I can help you take a fresh look at your home and suggest ways to stage it and make it more appealing to buyers.  Make minor repairs and replacements. Small defects, such as a leaky faucet, a torn screen or a worn doormat, can ruin the buyer’s first impression. 

*Clutter is a big no-no when showing your home to potential buyers. Make sure you have removed all knick-knacks from your shelves and cleared all your bathroom and kitchen counters to make every area seem as spacious as possible. 

Get the word out. 
Now that you’re ready to sell, your real estate agent will set up a marketing strategy specifically for your home. There are many ways to get the word out, including: * The Internet * Yard signs * Open houses * Media advertising * Agent-to-agent referrals * Direct mail marketing campaigns In addition to listing your home on the MLS, I will structure a personalized marketing plan and use a combination of these tactics to bring the most qualified buyers to your home.  

Receive an offer. 
When you receive a written offer from a potential buyer, we will review the proposed contract, taking care to understand what is required of both parties to execute the transaction. Contingencies At this point, you have three options: accept the contract as is, accept it with changes (a counteroffer), or reject it. Remember: Once both parties have signed a written offer, the document becomes legally binding; therefore we will be sure to discuss any questions or concerns, be certain to address them right away. 

Negotiate to sell. 
Most offers to purchase your home will require some negotiating to come to a win-win agreement. I am well versed on the intricacies of the contracts and will protect your best interest throughout the bargaining. We will discuss what each contract clause means, what you will net from the sale and what areas are easiest to negotiate. Some negotiable items: * Price * Deposit Amount * Conditions * Chattels * Possession Date. 

Prepare to close. 
Once you accept an offer to sell your house, you will need to make a list of all the things you and your buyer must do before closing. 
The property may need to be formally appraised, surveyed, inspected or repaired. 
If there are problems with the home, the terms set forth in the contract will dictate your next step. You or the buyer may decide to walk away, open a new round of negotiations or proceed to closing. 
Also, begin to make arrangements for your upcoming move if you have not done so. 

Close the deal. 
You will meet with your Real estate Lawyer to sign your purchase documents and mortgage documents about 7-10 days before the purchase closing date. This appointment will take about 1 hour and during it the Lawyer will review all the documents with you and have you sign all the legal papers. Bring in any deposit money or down payment that is required to close the purchase at this time.

The Seller’s lawyer will have sent the Purchaser’s lawyer all the documents that are required by the Purchaser to transfer title to the Government of Alberta and in most cases the Purchaser’s lawyer will review the Seller’s documents with the Purchaser at this appointment.

On the Close date, the Purchaser’s lawyer will send to the Seller’s Lawyer the required money to close the transaction. The Purchaser’s lawyer will then send the documents to Land Titles for registration.

Once the Sellers has received the money from the Purchaser’s lawyer they call up the Seller’s Realtor and tell the Realtor to release keys. The Sellers Realtor then calls up the Purchasers Realtor and they make arrangements to meet the Purchaser to give them their keys to their new home.

Usually, this all occurs before noon on the closing date.

For most of us, our home is our biggest investment. When it's time to sell, get the value you deserve with the help of a professional Realtor. If you'd like to get in touch about your next home sale today, please me direct at 780-991-2636 or use the contact form.