Thinking of selling your home?
Okay, let’s get started. No two transactions are exactly alike but here is a basic timeline that we can follow as we work towards selling your home. The key issues that we need to address are the following:
The current state of the market is what ultimately dictates the value of a home. With the right due diligence and a proper explanation of market conditions we can accurately set a price for your home that will bring you the maximum return on a schedule that works for you. You will give me “The Tour” and we will discuss all the amazing features and benefits that we will showcase in order to attract qualified buyers. Combining this with a detailed Comparative Market Analysis (CMA) will allow us to arrive at a price that will satisfy your needs and be able to sell your home in a timely and efficient manner.
Preparing your property for sale:
At this point we will work together to get your home in optimum condition for presentation to potential buyers. If necessary, we can put together a list of ideas that will help to make your property more attractive to buyers. Sometimes little things like a bit of paint here, some work in the garden there, general tidying and decluttering, and a few basic repairs is all it takes to ensure your property leaves a lasting first impression on all of those buyers that will be coming through your home and can sometimes add hundreds, or even thousands, to your asking price.
Pictures, videos, floorplans and marketing materials:
Now you really get to put me to work for you! I will bring in a professional photographer who will provide us with a large number of amazing, high res photos and a “Virtual Tour” video that will help showcase your home to buyers and give them an authentic feel for your property before they ever set foot in it. I take great pride in the way I present properties and you will see that in the quality of the materials I use.
Your listing goes live!
Now that we’ve done the preparation it’s time to present your property to the waiting world of buyers. In addition to those striking Macdonald Realty “For Sale” signs, your listing will be posted on the Multiple Listing Service (MLS®), MLXchange, MLSFusion, Realtor.ca, chrisnaples.ca, rew.ca, Facebook, Twitter, Instagram, Craigslist, Kijiji etc. I am also a member of the MLS Reciprocity Program which allows your listing to be accessed through thousands of REALTORs® personal webpages. This gives Vancouver’s 10,000+ REALTORs®, their network of buyers, as well as the property hungry public, a chance to view your beautiful property online.
Market my property!
Oh, I will. The first week we’ll host what is called an Agent’s Open. This is where caravans of REALTORs® from all of the major brokerages get a sneak peek at your home. This is the first key step in the marketing process that allows us to sell your property face to face with waiting agents. Now that we’ve given the REALTORs® a preview, we will start to present your property to the public. This can be done most effectively with a properly promoted combination of Public Open Houses and Private Showings, whichever you are most comfortable with. We will find a schedule that works best for you and get as many qualified buyers through as possible.
We’ve got an offer! What do we do?
This is where we need to decide whether the offer is acceptable or not. As a seller, you have the right to counter-offer and negotiate with the buyers. We can work out a negotiating strategy together to get your home sold for the most money!
Wait, we’ve got multiple offers? What now?
My job is to present and interpret offers to you as soon as they come in. If we get into a Multiple Offer situation, offers will be presented to you in the order of arrival and you have the right to select the most attractive one. I’ll be right by your side every step of the way.
Subject clauses and subsequent Subject removal? What’s that all about?
Both buyers and sellers have a right to insert clauses into their offers and counteroffers that will protect them. This protection comes in the form of “Subjects” or “Subject to” clauses. These will allow you, as a buyer, to perform your due diligence and confirm any and all information on the property you are about to buy. Depending on the style of property being purchased, basic subject clauses include, but are not limited to, the following:
For Detached Homes:
1) Subject to buyer being approved for financing
2) Subject to a satisfactory home inspection
3) Subject to receiving and approving the title search
4) Subject to review of the Property Disclosure Statement
5) Subject to health and fire insurance
Subject conditions must benefit a particular party to the contract (either the buyer or the seller) and must be removed by a specified date. Upon successful removal of all subject clauses, the contract becomes firm and binding. If subject conditions cannot be removed on or before the date specified in the contract, the parties may mutually agree to either extend the subject removal date or collapse the offer.
Offers on “Strata Title Properties” can be more complex by nature than those on detached properties. Although a buyer and their agent may be looking to purchase one strata lot within a building of strata apartments, they rely on receiving specific types of information relating to the strata lot, the building and the strata corporation. Often, this information comes from the listing agent, the property management company (if applicable), and/or the strata corporation itself.
When buying an apartment or townhome, typically the same five common subject clauses are used as with detached homes plus subjects related to the review and approval of documents containing information about the strata corporation and the strata log.
1) Form B Information Certificate
3) Financial Statement
4) Strata Plan
5) Consultants Reports
As with detached homes, subject conditions on attached homes must benefit a particular party to the contract (either buyer or seller) and must be removed by a specified date. Upon successful removal of all subject clauses, the contract becomes firm and binding. If subject conditions cannot be removed on or before the date specified in the contract, the parties may mutually agree to either extend the subject removal date or collapse the offer.
Subjects are removed! Now what?
You’re almost done! Once the subjects have been removed it is time for the buyer to produce a deposit cheque. It is at this point that we will need to get a good lawyer or notary involved (I’ve got several recommendations for you!) so the funds can be exchanged for clear title in what is called The Conveyancing Process. This is the official transfer of monies for property and safe registration of title in the Land Title Office.
Summary of Closing Costs for the Seller
No two transactions are the same but there are typically three closing costs that, as sellers, you should be aware of.
1) Property Tax Adjustment-Depending on the time of year your transaction completes, you may either owe or be owed for a share of the Property Taxes.
2) Mortgage Discharge Fees-Your lending institution will provide us with all of the relevant information regarding your current mortgage (if applicable). Be aware of prepayment penalties on certain types of mortgages!
3) Legal/Notary Fees-Title conveyancing costs
4) Commission-As agreed upon in our listing contract.
Your property is SOLD! Now what?
Let’s go find you a new home.
Click here to search MLS! Search Now
206 Lonsdale Avenue
North Vancouver BC
V7M 2G1 CA
Thinking of making a move?
Call me and let's work on a strategy together to get you where you need to go.