At Welsh & Co., we understand how stressful it can be to sell a house how difficult it can get if not handled properly. Understanding the selling process from the first step to the last is the starting point.
STEP 1 | Decide on the Right Time to Sell
When you sell, you want to get as much value as you can for your home. So you might want to consider the timing of the sale because it definitely has an effect on the value. You don’t want to sell when it’s a 'buyer’s market,' when too many homes are for sale and there are not enough buyers. Seasonality is something to consider as well because typically more homes are sold in the spring rather than the winter.
STEP 2 | Hire an Agent
There are thousands of real estate agents in Ontario, so how do you chose one that’s right for you? The short answer is: very carefully.
Throughout the process, your agent will be acting as your representative and you have to be convinced that they will look out for your best interests. You will need someone that you can trust and someone who understands what you want.
Of course, we would like you to consider Welsh & Co... so, we invite you to read why we think you should choose us!
STEP 3 | Prepare Your Home for Listing
We find that most homeowners can increase the market value of their home by doing a few things to enhance its appeal. There are various ways to do this and it all depends on the amount of monetary resources available.
After we are hired by a homeowner, we sit down to discuss what can be done, within budget and timing parameters.
We may suggest remodelling an area of your home, or just freshening up the walls with a new coat of paint. Often a bit of professional lawn maintenance can make a big difference to 'street appeal'. (Buyers love seeing green grass and flowers outside because it feels more warm and inviting to them.) Home inspections are also something that you can do to prove the value of your home. Buyers will usually ask for a home inspection, so if you do it ahead of time it will definitely impress them. It also gives you a chance to prevent unpleasant surprises and make any major repairs.
The suggestions we prepare for each homeowner are customized to the home, the owner and the other variables.
STEP 4 | Decide on a Price & List your Home
Once you’ve found the perfect real estate agent, they will list your home. First they will value your house and set a price. Expect them to give you a report on market data complied to properly value your home based on the prices in your area.
STEP 5 | Market, Advertise, Promote
After your home is listed, your agent will market your home through various media outlets and listing sites to create strong buyer interest. A good agent will post on Multiple Listing Service (MLS), Social Media, Blogs, and Websites.
An open house may be scheduled to showcase the potential of your home to brokers or the public. At this point, Realtors may also suggest to stage the home to help these individuals imagine themselves living in your house.
Step 6 | Receive Offers
Not all offers are equal and that’s where your real estate agent comes in. They will help you get to know the terms and conditions regarding the price that the buyer wants to pay, financing conditions, or other things like inclusions and exclusions that the buyer wants to make.
Not only is it about the price of the home, but you have to carefully look at the other details included in the sale. Appliances, chandeliers, or even minor renovations can also be part of the deal. Shorter or longer closing dates can also be specified by the buyer.
If there is something in the offer that doesn’t satisfy you, counter offers or negotiations can also be presented to help get you what you want.
STEP 5 | Close the Sale
There will be closing costs associated with the sale that need to be paid either by or on the closing date. It can include mortgage application fees, inspections, and legal fees. But once that’s taken care of, you can pass your old keys to the new owners. Congrats! You’ve officially sold your house!