Contact Information
Lora Schyven North of 9 Real Estate Services - Royal LePage RCR Realty
Office: 519-925-2761 Fax: 519-925-6160
Region GuideWant to familiarize yourself with Dufferin County,Orangeville and the surrounding communties? Call or email today - I'd be happy to send you a North of 9 Region Guide, or answer any questions you may have.
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Find an Agent
Once you have made the decision to sell your home, the next step is to determine who is going to sell it. We recommend you think about what expectations you have of the process, and interview at least three Realtors. In addition to looking for competence and service, you should choose a Realtor whom you feel can meet your expectations and will look out for your best interests. A qualified, competent real estate agent will help you navigate the myriad of decisions that arise when buying and selling a home. An agent provides value to the homeowner in many ways:
- Pays for all marketing and advertising costs.
- Adds expertise in all aspects of the sales process including marketing, financing, negotiations and more.
- Handles all showings.
- Brings a network of known, trusted real estate professionals. If your agent doesn't have the answer, he or she likely knows someone who does.
- Always has your interests in mind so you always have someone on your side.
- Can handle and advise on all price and contract negotiations.
- Provides you with all the possible options and opportunities without holding back.
- Gives an unbiased, realistic view of your home and your options. Unlike buyers and sellers, an agent has no emotional attachment to property.
- Has the knowledge to help you ask the right questions.
- Being a third party, potential buyers are more likely to tell your agent the truth about your home, even if it is unflattering. This objective viewpoint will help you make the necessary changes to get your home sold.
Your time is valuable. Having North of 9 on your side allows you to spend your time how you want.
Obtain a Market Analysis
Properties priced appropriately generate optimal exposure and sell in the shortest period of time. To get the most accurate estimate of how much you should list your property for, call us today or complete the online form to receive a Comparative Market Analysis (CMA). A CMA takes into account many aspects of your home, including size, features, and overall condition. Your Realtor should discuss any aspects of your home that could be modified to enhance its market value.
Set the Right Price
The single most important decision you will make, after the decision to sell, is determining the right asking price for your property. Once you've achieved a realistic sales price, you can count on your property being professionally marketed and promoted to bring more buyers to your door. You can also expect to sell your home for the best possible price in the least amount of time.
Benefits of Pricing Right:
- Your property sells faster, because it is exposed to more qualified buyers.
- Your home doesn't lose its "marketability."
- The closer to market value, the higher the offers.
- A well-priced property can generate competing offers.
- Other Real Estate Professionals will be enthusiastic about presenting your property to buyers.
Factors that do not affect your property's value:
- what you paid when you bought (or built) your house
- the cash proceeds you want or need from the sale
- what I (or another Real Estate Professional) say your property is worth
Factors that do affect your property's value:
- location
- size of home & lot
- style & layout
- age, condition, upkeep & renovations
- community amenities
- financing options & conditions
- number of Buyers
Overpricing your Home:
Many sellers believe that if they price their home high initially, they can lower it later. Often, when a home is priced too high, it experiences little activity. Gradually the price will come down to market value, but by that time it's been for sale too long and some buyers will be wary and reject the property. On occasion, the price is dropped below the market value because the seller runs out of time. The property sells for less than it's worth.
Missing The Right Buyer:
You may think that interested buyers "can always make an offer," but if the home is overpriced, potential buyers looking in a lower price range will never see it. Those who can afford a home at your asking price will soon recognize that they can get a better value elsewhere. Missing potential buyers is even more prevalent in Buyers' market, where there is an abundant supply of homes for sale because there is a lot more choice for buyers.
Early Activity:
As soon as a home comes on the market, there is a flurry of activity surrounding it. This is a crucial time when Real Estate Professionals and potential buyers sit up and take notice.
If the home is overpriced, it doesn't take long for interested parties to lose interest. By the time the price drops, a majority of buyers are lost.
Listing Your Property
Once you have selected a Realtor, you will need to sign a listing contract in order for your Realtor to list your property for sale on the Multiple Listing Service (MLS®), a central database of properties for sale that is available to REALTORS®.
The contract will contain:
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The price of the property.
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The address and legal description of the property.
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The existing financing arrangements.
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A list of items (known as fixtures) that will not be included in the sale, i.e., a light fixture.
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The commission amount.
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The expiry date of the listing contract.
Your REALTOR® will also get you to fill out a Sellers Property Information Statement (SPIS), a form where you indicate the condition of your property.
Showing Your Home
First impressions are lasting impressions. You will want to make sure the buyers looking at your home are left with the best possible impression.
Exterior Of Your Home:
- House in good repair
- House number easy to read
- Eaves troughs, down spouts and soffits in good repair
- Garage/car port clean and tidy
- Litter picked up
- Cracked or broken window panes replaced
- Lawns and hedges cut and trimmed, garden weeded and edged
- Walks shoveled and salted
- Boot tray inside front door
- Doorbell and door hardware in good repair
- Porch and foyer clean and tidy
Interior of Your Home
- Chipped plaster and paint touched-up and replaced
- Doors and cupboards properly closed
- Leaky taps and toilets repaired
- Burned out light bulbs replaced
- Squeaky doors oiled
- Mirrors, fixtures, and taps cleaned and polished
- Seals around tubs and basins in good repair
- Floors cleaned, garbage containers empty
- Inside of closets and cupboards neat and tidy
- Appliances cleaned
- Countertops neat and polished
- All lights turned on
- Air conditioner turned on in warm weather
- Fresh air in house
- Fireplace lit in cooler weather
- Halls and stairs cleaned
- Drapes opened during daylight
- Carpets freshly vacuumed
- Fresh flowers in various rooms
- Jewelry and valuables locked safely away or taken with you
- Valuable property, such as objects of art, vases and figurines out of reach, out of sight, or locked away
- Pets absent, where possible, or contained during the showing, and litter boxes clean
Receive an offer
When you receive a written offer from a potential buyer, your real estate agent will first find out whether or not the individual is prequalified or preapproved to buy your home. If so, then you and your agent will review the proposed contract, taking care to understand what is required of both parties to execute the transaction.
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 - Shows the buyer's good faith and will be applied against the purchase price of the home when the sale closes.
3. Terms - Includes the total proce the buyer is offering as well as the financing details.
4. Conditions - these might include a home inspection, buyer obtaining financing, or sale of the purchaser's property.
5. Inclusions and Exclusions - These might include appliances and certain fixtures such as window coverings and mirrors.
6. Closing or Possession Date - The day the title of the property is transferred to the buyer and funds are received by the seller, unless otherwise specified.
The contract, though not limited to this list, should include the following:
- Legal description of the property
- Offer price
- Down payment
- Financing arrangements
- List of fees and who will pay them
- Deposit amount
- Inspection rights and possible repair allowances
- Method of conveying the title and who will handle the closing
- Appliances and furnishings that will stay with the home
- Settlement date
- 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. If you have any questions or concerns, be certain to address them with your real estate agent right away.
Closing/Completion
The Agreement of Purchase and Sale will specify a completion day for the sale. On this day, legal ownership of the home will transfer from you to the buyer.
Before the completion day you should hire a lawyer or notary public to handle the completion procedures. Your Realtor will be able to recommend some lawyers or notaries. The lawyer/notary will:
- Ensure that your mortgage has been properly discharged.
- Arrange for you to sign papers transferring title.
- Confirm that all payments you are responsible for have been made.
- Give you a cheque for the balance .
Although you will receive a payment upon the sale of your home, there are still some costs you need to be prepared to pay. They include:
- Your Realtor's commission.
- Legal fees.
- Any penalties for paying off your mortgage early.
- GST on the commission and legal fees.
- Your portion of the property taxes.
- Cost of survey, inspection or other special requirements
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