Whether you are looking to downsize, upgrade, relocate or simply want a lifestyle change, the process of selling your home can be a positive one. As a professional Real Estate agent, my goal is to help you sell your home with little hassle, as quickly as possible and for top dollar.
Before taking the step forward in terms of placing that "Just Listed" sign on your property, I recommend taking time to assess the reasons why you want to move.
The kids have moved out and you are ready to downgrade?
Maybe you are wanting to start a family and need more room?
Have you changed employment and want to move closer to the office?
Perhaps, you simply want to change your lifestyle whether to embrace a more urban atmosphere or a suburb.
By discovering your motives for selling, I will be able to assist you better when it comes to searching for a new home and figuring out what you ultimately require in the outcome of selling your existing home.
When is the best time to sell your home?
While more houses typically go on the market in the spring, this does not necessarily indicate that this is the only good time to list your home. Ultimately, there are always buyers and sellers so it really comes down to your situation and what works best for you. While the winter months are typically assumed to be the worst time to sell, there are many occasions that indicate otherwise. For example if a person sells their home in the fall, they will need a new home anywhere from the next month to 3 months away. This means that this person may have less inventory to choose from and therefore your property may stand out more, resulting in an increased demand and higher selling price. Alternatively, in the spring there may be more inventory and also more buyers. If the balance of buyers versus inventory in both spring and winter is on par, the pricing will remain the same or similar.
Keep in mind, your time is the right time. In most cases, the best time to sell is likely when your existing home no longer meets your needs.
Economic factors are important
When selling, you may want to also take into consideration economic factors. Are interest rates low or high and how do these interest rates compare to your current mortgage? If rates are higher, your monthly payment amounts may be higher than your existing ones upon the purchase of another home. If rates are lower, it could be a great time to trade up to a more expensive home without enduring a significant increase in your monthly financial obligations.
Market trends may also play a part depending on whether it is a buyers or sellers market. Typically, in a buyers' market, there are more homes for sale then there are actual buyers. In a buyers market, homes will tend to stay on the market longer and prices may stabilize or decrease. Just because it is a buyers market though, does not mean that your home will not sell, take longer to sell and or be sold at significantly decreased prices. By making sure that your home is priced at a fair value and is show ready, your home should still sell in a decent amount of time and at a great price.
In comparison, a sellers market tends to have more buyers then houses available to be purchased. A sellers market typically translates into quicker sales and higher selling prices with buyers having to make decisions at a quicker pace and being prepared for potential multiple offer scenarios. Other than a buyers and sellers market, many times there is what is considered a balanced market. A balanced market occurs when the number of homes of the market is approximately equal to the quantity of buyers looking for new homes.
Regardless of the market, I am able to provide you with the most knowledge and offer resources in order to make the most of your move. Through comprehensive training in the real estate market, I can take advantage of all the factors discussed above to help assess your situation and determine the right buying or selling time that would work best for you personally.
Call today or request a free market evaluation to learn more about how I can be of assistance in the selling of your home today!
You have spent considerable time and money on home improvements to bring your home into "show" condition. You have taken the dog to the neighbours when your Real Estate Professional hosted open houses. You are pleased that your Real Estate Professional has negotiated the best price on your behalf. The offer has been accepted and you are all set for your move. Congratulations! You have accomplished a major milestone in selling your home.
There are financial items you will want to consider upon the sale of your home. The buyer is typically responsible for these closing costs including:
Legal/notarial fees for handling the sales transaction
Disbursements or out-of-pocket expenses incurred by the lawyer or notary
Property tax and utility adjustments
Land transfer or "welcome" taxes
As the seller, you will also have some debts to discharge before you can access your funds including:
Real estate commissions
Building location certificate or survey
Legal and discharge fees
Outstanding adjustments owed to the buyer
Outstanding municipal/school taxes or public service
Outstanding mortgage balance and any charges associated with discharging your mortgage early (if you are not transferring your mortgage to your new home, or the buyer is not assuming it)
As fees and costs vary from province to province and city to city, your Real Estate Professional can advise you on the costs you are likely to face when selling your home. It is also a good idea to check with your financial advisor, your accountant and your lawyer prior to the sale.
When you are selling your home, the price you set is a critical factor in the return you will receive. That is why you need a professional evaluation from an experienced Real Estate Professional. This person can provide you with an honest assessment of your home based on several factors including:
Condition of your home
Repairs or improvements
In real estate terms, market value is the price at which a particular house, in its current condition, will sell for within 30 to 90 days.
If the price of your home is too high several things could happen:
Limits buyers. Potential buyers may not view your home only because it would be out of their buying range.
Limits showings. Other salespeople may be less reluctant to view your home.
Used as leverage. Other Real Estate Professionals may use this home to sell against homes that are better priced.
Extended stay on the market. When a home is on the market too long, it may be perceived as defective.
Lower price. An overpriced home, still on the market beyond the average selling time, could lead a lower selling price. To sell it, you will have to reduce the price, sometimes, several times. In the end, you will probably get less than if it had been properly priced at the start.
Wasted time and energy. A bank appraisal is most often required to finance a home.
Real Estate Professionals have known for years that well-kept homes, properly priced in the beginning, always get you the fast sale for the best price and that is why you need a professional to assist you in the sale of your home.
On the one hand, moving can be an exciting adventure. Although on the other hand, it could be a stressful time if things go wrong. This report explains the nine most common mistakes people make when relocating. When you plan ahead you will avoid these pitfalls and ensure your move is handled smoothly.
1. Lack of information
Contact the chamber of commerce, tourism department, municipality or library in your new community. Be sure to require on info, compare salaries, cost of living, taxes and housing prices.
2. Home not priced and ready for showing
Before you sell your home be sure to complete any repairs needed. Often, it is the little things like chipped paint, worn caulking and sticky doors that potential buyers notice. Have your home cleaned including carpets. Have a Comparable Market Analysis (CMA) completed by one or two local Real Estate Professionals to ensure your price is competitive in the local market.
3. Not planning for temporary housing between destinations
You may need to set up temporary housing arrangements until the closing you have possession of your new home. This could take from a few days to a few months. If you need interim housing for a few days, perhaps staying in a hotel is the simplest solution. For housing longer than a month, you may want to consider an apartment with a short-term lease.
4. Not being pre-approved
Sellers are usually eager to negotiate with someone who has immediate buying power.
5. Not completing a professional home inspection
This applies for both the home you are selling and the one you are buying although who pays for the inspection, whether the buyer or seller is negotiable in each separate contract.
6. Insufficient time to handle children's concerns
During relocation a child could feel lost, sad, angry or confused. Sometimes, under the stress of completing so many details, the temptation is to get settled as quickly as possible so everyone feels at home. Talk to your children during the process. They will feel safe, cared for and comfortable. Acquaint your children with the new neighbourhood. If possible, have them meet new teachers and other children in their new school before moving. Try not to move in the middle of a school year.
7. Not being prepared for culture shock
Sometimes when people move from familiar surroundings to a new community culture shock can manifest. Symptoms can range from headaches, stomach aches, impatience, sleep problems to anger. These feelings are all normal and do pass over time. It may be helpful to incorporate the old with the new. This could include taking classes, joining clubs, and pursuing activities you previously enjoyed. Typically, it takes about six to ten months for someone to feel "at home" in a new community.
8. Not using local, licensed professionals
Every area is different. Understanding the communities that make up your destination city, a Real Estate Professional can find you a home that matches your needs. You will save time and energy by having a professional do the work for you.
9. Not reading your employer's relocation policies
Read your employer's relocation policies carefully, for the amount of reimbursement. Be sure to keep good records and copies of all your receipts as moving expenses are deductible under certain conditions established by Revenue Canada.