SELLING A HOME

GUIDE FOR SELLING A HOME IN OTTAWA

DECIDING TO SELL

I want to sell. What now?

There is a lot to consider after you've decided to sell your property. We know that the selling process can be confusing to navigate, which is why we help our clients to clearly identify their selling goals and motivations, making the experience, positive, painless and enjoyable.

Why should I sell my property??

First you must ask yourself what your motivations are for wanting to sell your property. Are you looking for more land? Do you have your sights set on a new neighbourhood or city? Are schools, services or commute times a consideration? It is helpful to be clear about your provocations for selling, so that we can ensure that your financial, lifestyle and property goals are met.

When is the best time to sell my property?

It's extremely important to map out an ideal timeline for your selling process. Some of our clients are in a position where they need to sell quickly, while others do not have an urgent need. Identifying your own situation and timeframe will help us to create a personalized action plan that will work for you, while taking market conditions and favourable selling times into account.

What is the state of the real estate market?

The biggest benefit to working with a real estate team is having professional market knowledge, home buying expertise and negotiating skills at your fingertips. We will ensure that you are working toward the best market prices and terms while keeping you informed at every step of the way. We'll take the time to explain the shifts in the marketplace, financing options and the terms and conditions of competing properties.

How can I ensure I'm making the most of my finances?

Deciding to sell, what is likely one of your biggest investments, requires you to review your current and future financial situation. Our team will help you to assess the potential proceeds of selling your property, evaluate the impact it will have on your finances and guide you in increasing your tax savings. Our goal is to ensure that you maximize your financial return.

WORKING WITH AN AGENT

Why choose Bennett Property shop?

When you're selling your home, you have the option to sell independently or to work with a real estate professional. There are many reasons why working with one of our agents will benefit you. Without an agent, many independent property sellers will overestimate the value of their property. We will ensure that you maximize your opportunities in the current market, using our extensive network and resources. Selling your home requires going through complicated paperwork and our agents will guide you through those documents. From the initial to the final agreement, we'll take you through the process step by step.

When selecting a listing agent, you must keep several things in mind.

First, are they educated in the real estate industry? Our agents have advanced training and prestigious designations that make Bennett Property Shop a leader in the industry.

Next, does your agent have an area of expertise? Preferably, your agent is familiar with the type of property you are selling and the area in which it is located. Another credential to look for is whether the agent has a history of selling similar properties.

Commitment, responsiveness and availability are paramount when working with an agent. Does he or she communicate promptly and effectively? Can they be easily contacted, even on weekends and evenings? Do they answer your questions successfully and with understanding? These are all qualities that will greatly enhance your property selling experience.

Lastly, remember that the relationship you have with your real estate agent should be comfortable and amicable. Has your agent taken the time to identify your selling motivations and objectives? Do they seem genuine in their intent to deliver a positive outcome? Selling your property is a huge decision, and you want an ally who you can trust.

PREPARING TO SELL

How do I prepare to sell my property?

There are many ways you can ensure your property will have a lasting impression on potential buyers.

Remember, buyers will be evaluating your property from the inside out. Making sure your landscaping is tidy and visually appealing (also known as "curb appeal") will have an impact on those looking to buy.

Ensuring any repairs are in good standing is paramount. Evaluate your property in detail for anything that could use upgrading or refreshing. A new coat of paint can go a long way, for example.

One of the benefits of working with a real estate agent will be their assistance in staging your property. Cleanliness is necessary, but a professional will be able to give you tips for uncluttering and adding special touches. Maybe it's a scented candle, or a fresh vase of flowers on the dining room table. Our agents will use these small enhancements to further appeal to your potential buyers.

Selling your home is a process that requires legal procedures, disclosures and inspections. Our agents know these policies inside out and will be able to guide you through disclosure statements and crucial home improvement measures.

Your real estate agent will act is as the "maître d" in presenting your property to potential buyers, so make sure to work with someone who is charismatic and informed.

ACCEPTING AN OFFER

It is understandable that a seller would be excited over a high price offer; however, the price should not be your only determining factor when accepting an offer. Remember that the initial offer is not always final and there are a number of terms and conditions that may affect your financial return. Our agents will know what to look for in an offer and make sure to maximize the outcome of your transaction.

When negotiating, our agents want to ensure that all parties leave the table happy and satisfied. You, as the seller, may have to deal with multiple offers before deciding on one that is the most suitable for your particular situation. Our agents will take the time to assess each offer and explain the pros and cons that may contribute to your decision.

An effective agreement is a legal arrangement between a potential purchaser and the property's seller. Laws vary from province to province, and your agent will know what needs to be included in this document to ensure it is a legally binding agreement.

Make sure to keep a written record of all verbal agreements, including counter-offers and addendums. It is important to have these documents signed by all parties. Our agents will assist you in drafting the paperwork and ensuring that everyone involved has copies.

Your real estate professional will also ensure that you stick to all agreed upon timelines and schedules. This will make for a smoother selling process and ensure that all parties are adhering to the terms of the agreement. We'll make sure to keep you informed of all of the required steps at every stage.

INSPECTIONS & APPRAISALS

When drawing up a contract, buyers will set a timeframe to have the property inspected by a licensed property inspector. In this "option period" the buyer has an unrestricted right to terminate the timeframe. Some buyers will elect to have several different inspectors, specialists in different areas, come by to inspect the property.

Buyers who have a lender's pre-approval, approval letter, or written loan commitment, possess a better guarantee of loan approval than a pre-qualification or no documentation from a lending institute. An appraiser from the lender's company will likely ask to review your property and verify that the sales price is suitable.

CLOSING DAY

Before you pop the champagne, make sure all of your ducks are in a row and all of the loose ends are tied.

On the day before or the day of closing, there will be one final inspection where the buyer walks through the property to make sure everything is in order.

The closing agent will provide all parties with a settlement statement that summarizes the details and financial transactions and will certify its accuracy. He or she will also provide you with a list of home services and utilities that you will terminate after closing, and remind you of details such as ensuring that the keys are ready for the new purchaser at closing.

It's not over 'til it's over, and our agents will be there to ensure that any last minute complications are dealt with, even at this final stage.