Selling your home is a complex, multi-step process. There are many things you’ll need to consider, and to help you through it, here’s a general overview on what to expect and prepare.
Get Your Finances in Order
If you’re still paying off your mortgage there are several options depending on what type of mortgage you have. Some lenders will allow you to transfer, others will charge three months on interest as a payout penalty. It all depends on your agreement and you’ll need to talk to your lender before you can proceed.
Meet With a REALTOR®
It’s important to partner with a REALTOR® early, one that you feel comfortable with. Be aware of partnering with the first REALTOR® who suggests the highest asking price. Shop around. A good REALTOR® can help you price your home to sell, answer questions like “When is a good time to sell?” and has in-depth knowledge of the market.
Get Your Home Ready
Most homeowners will have some tasks to complete before they are ready to put their home on the market. This is where meeting with a REALTOR® early on can assist you with what to do, suggestions and priorities. They can pair you with professionals and service providers that can help you get your home ready, and let you know the least to more expensive ways to prepare. You want to be empowered with relevant information so that you can make informed decisions.
Listing Your Home
Pricing your home too low or too high can effect your sale and bottom line. Setting a fair price will attract more potential buyers, and give your home exposure. Your REALTOR® should be able to explain to you the multitude of factors influencing pricing, including: competitive pricing, current market stats, and of course the estimated value of your home.
Marketing And Promotion
The next step will be to sign a Listing Agreement, which gives your REALTOR® permission to post your property on MLS (Multiple Listing Service). They’ll then begin marketing your home through a variety of mediums — digital and traditional — and inform other REALTORS® (representing buyers) that your property is on the market.
Closing
After the hard work of marketing and promoting your home pays off, the goal is to have an offer, or more, on the table. Once you’ve accepted an offer, the buyer will want to conduct a home inspection and (potentially) negotiate the cost of any repairs. Finally, your Lawyer and REALTOR® will walk you through the paperwork needed to close.
Congratulations! With the sale of your home complete, you can now begin looking for a new place.
The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Greater Vancouver REALTORS® (GVR), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the GVR, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the GVR, the FVREB or the CADREB.