Step-By-Step Seller's Guide: Sell My Edmonton Home!
Thinking about selling your Edmonton home, but aren't sure what the steps are? You've come to the right place! This guide covers every step of the home selling process, so you know exactly what to expect when selling your home.
1. Choose An Expert & Get Your Comparative Market Analysis (CMA)
The first step in every savvy home seller's journey is to find a real estate agent. Choosing an expert to work alongside you is a really important decision that will set the tone for the rest of the selling process. You need to find someone who is experienced, knowledgable and willing to do what it takes to meet your goals. Ask as many questions as you need to, and ensure you are 100% comfortable with your agent before you move forward.
Once you choose an agent, request a Comparative Market Analysis. A good agent will visit you at your home, evaluate the property and let you know what it's approximate current market value would be. Ensure your agent includes assessments of other comparable properties that are nearby when determining the value.
2. Prepare Your Documents
There are several important documents that you'll need to help sell your home. These documents include:
- Real Property Report
- Home Warranty Documents
- Home Repair/Renovation Receipts
- Rental/Lease Agreements (if applicable)
- Documents from condo board/management company
3. Prepare Your Home
Now's the time to finish off any repairs or projects you've been putting off. Major repairs should be completely prior to the sale of the home, or you'll need to consider reimbursing the buyer. Needed repairs tend to be a big turn off for buyers, will undermine the value of your home and could cause people to walk entirely. Once the repairs are complete, you'll need to clean every square inch and de-clutter your property as much as possible. The more presentable your home is, the more likely it will be to sell for the price you desire.
4. Sign Listing Documents
Remember that the listing documents are a legal contract, so ensure you fully understand what you're signing before doing so. Go through every clause with your real estate agent, ask questions and ensure you get clarification on anything that you're unclear on. Questions like, "When will my contract begin?", "What are my rights and responsibilities?" and "At what point is the contract fulfilled?" are good places to start. Listing documents are meant to protect both you and the agent/brokerage equally, which makes them in everyone's best interest.
5. Marketing Your Home
Your real estate agent should already have a strong idea of how to market your home, but do work with them throughout the process. Highlight the best features of your home, especially those that originally attracted you to the property. Ask to review the marketing materials before they go out and feel free to make your own suggestions. You and your real estate agent are a team, working towards the same goal: selling your home quickly, for the highest possible price.
6. The Showings
When potential buyers view your home, make yourself scarce! It's important not to be home when buyers come through, because many people will feel uncomfortable and distracted with the seller home. This is the perfect opportunity to run errands, catch up with an old friend, or take some pesronal time at the local coffee shop. Try to be flexible with showing times, but know you can request a different time if need be.
7. Assess Strategy
If your home is still on the market after a few weeks, re-assess the initial marketing strategy that was developed and see if there is room for improvement. Meet with your real estate agent to find out what's working and what isn't, and try to implement any changes that might be beneficial. Sometimes strategy assesments mean trying new advertising spaces, re-considering which property feratures to highlight, or adjusting the listing price. A great agent, like those at EdmontonHomes.ca, will work with you to ensure your property doesn't go stale.
8. Negotiate The Offer
Your real estate agent will be in touch as soon as a buyer makes an offer. Meet up with your agent to review the offer, and decide what you want to do. You'll have the option to accept, reject or counter the offer. Once the negotiations are mutually agreed upon, you'll need to sign the agreements to finalize them.
9. Agree To Conditions
It's fairly common for conditions to come along with offers. The most common conditions are passing home inspections and subject to financing, but all sorts of conditions could potentially crop up from the buyers. Buyers and sellers will typically allow 7-10 days for the conditions to be met. If the conditions aren't met by that date, the contract falls through, so ensure you're flexible and accommodating with access to the house.
10. Prepare To Transfer Ownership
Once all the conditions are met, the contract is "firm." This means that you must sell and the buyer must by. This is when you should begin preparing the transfer of home ownership and book an appointment with a lawyer. If there is anything you need to do to fulfill the contract, such as fixing a repair, this is the time to get it done!
11. Finalizing The Sale
It's always recommended that your possessions have been removed from the home at least a day in advance of closing. This is a courtesy to the buyer and will also give you time for any last minute work you didn't anticipate. The buyer will transfer their funds to your lawyer who will then notify your agent that it's time to turn over the keys. (Ensure that the transfer of money is always handled by a lawyer or notary.) Ownership is typically transferred at 12:00 pm.
Thinking of selling your Edmonton home? Contact us online or call 780-800-9644 to find out how we can help you reach your goals!