SELLING YOUR PROPERTY

Once you have made the decision to sell your home, there are some important things that you need to consider with the help of your representative:

 

  • The market conditions – The real estate market is always changing and it is important to understand how the current conditions will affect your position as a seller.

 

  • What the market value of your home is – This is influenced by market conditions, location, size, style, condition, amenities and financing options.

 

  • What a realistic selling price would be – Homes that are priced right sell faster and can generate higher, competing offers.

THE SELLING PROCESS

  • The Offer - This will be influenced by the market conditions and the buyer but is usually different from the asking price.

 

  • The Deposit - Once an offer has been accepted, the buyer will place a deposit on the property. This deposit will be applied against the purchase price when the sale closes.

 

  • The Terms - This includes the total price the buyer is offering and the financing details.

 

  • The Conditions - This is a series of requirements that must be fulfilled prior to closing. The sale may be subject to such things as a home inspection, the sale of the purchaser’s property and/or the buyer obtaining financing.

  • The Inclusions and Exclusions - This is a list of furnishes, appliances, decorative items, fixtures, etc. that are being included or excluded from the sale.

 

  • The Closing and Possession Dates - In general, the closing date is the day that the seller will receive the funds and the title will be transferred to the buyer. In BC, the possession date is usually 1 to 3 days after the closing date.