Sellers

Below is some Information to review while considering selling your home

Contact me for a free market evaluation to assess what your property is worth versus what you think it’s worth. Keep in mind that this evaluation is free with no obligation for me to sell your property.

Selling your home is a complicated process and there is no need to go at it alone. I can help you get top dollar by using my knowledge, tools and strategies to aid you in marketing your property efficiently. My avenues include; MLS, whish is the best way to market your home; and the Royal LePage Relocation Network, which attracts out of town buyers.

Royal LePage Team Realty is one of the top Brokerages in Ottawa and had been for many years. We constantly have the best market share in the industry, usually hovering around the 35-45% mark of the Ottawa Real Estate market. We have a booking office and a large team of professionals available to you.

Let me work for you!

 Why use an Agent?

When you have decided to sell a home, the services of qualified real estate professional are of utmost importance. I have a good working knowledge of local real estate market conditions, am prepared to deliver a high standard of services to customers, and have the support of a large real estate company. Most importantly, I will save you time and money. Here are the advantages of working with an agent.

When selling a house:

  • An Agent knows real estate values in your neighbourhood and will help set an agreeable and competitive price on your home.

  • An agent will establish a marketing strategy for your home ensuring that your property is exposed to scores of potential buyers.

  • An agent takes care of the many tasks involved in selling a house (from placing your listing to putting up the for sale sign). This ensures that the transaction is simple and low-stress for you.

  • An agent is an expert in the home selling process and as such will advise you of your rights, options and obligations.

  • An agent is an experienced negotiator and will work to get you the best price possible.

Signing a Listing Agreement

Formal Step in marketing your property

The first formal step in marketing your property is to enter into a Listing Agreement. This is a contract that commits Royal LePage Team Realty to actively market your home for a specified period of time. It also commits you to a pre-established marketing fee that is to be paid upon the successful closing of the sale.

Some documents that may be required are the following:

Plan of survey or Location Certificate - A survey of your property which outlines the lot size and location of buildings, as well as details of encroachment from neighbouring properties. This may be required in certain areas to complete the sale of your home. Your legal professional may recommend a survey, especially if significant changes have been made to your property.

Property Tax Receipt - Most Listing Agreements require that the current annual property tax assessments be shown.

Mortgage Verification - Few homeowners know the exact balance of their mortgage as it is paid down. You will be asked to authorize your mortgage lender to provide the figures required.

Deed or Title Search - This document is a legal description of your property and the proof that you own it.

Other Documentation - In some instances, it may help the sale of your property if you can provide prospective buyers with information on items such as annual heating, electrical, and water expenses, as well as any recent home improvement costs.

Common Selling Mistakes

Avoid these 9 common selling mistakes

Mistake #1 - Placing the Wrong Price on Your Property

Every seller obviously wants to get the most money for his or her product. Ironically, the best way to fo this is NOT to list your product at an excessively high price! A high listing price will cause some prospective buyers to lose interest before even seeing your property. Also, it may lead other buyers to expect more than what you have to offer. As a result, overpriced properties tend to take an unusually long time to sell, and they end up being sold at a lower price.

Mistake #2 - Mistaking Re-finance Appraisals for the Market Value

Unfortunately, a re-finance appraisal may have been stated at an untruthfully high price. Often, lenders estimate the value of your property to be higher than it actually is in order to encourage re-financing. The market value of your home could actually be lower. Your best bet is to ask your Realtor for the most recent information regarding property sales in your community. This will give you an up-to-date and accurate estimate of your property value.

Mistake #3 - Failing to “Showcase”

In spite of how frequently this mistake is addressed and how simple it is to avoid, its prevalence is still widespread. When attempting to sell your home to prospective buyers, do not forget to make your home look as pleasant as possible. Make necessary repairs, keep things clean, and make sure everything functions and looks presentable. A poorly kept home in need of repairs will surely lower the selling price of your property and will even turn away some buyers.

Mistake #4 - Trying to “Hard Sell” While Showing

Buying a house is always an emotional and difficult decision. As a result, you should try to allow prospective buyers to comfortably examine your property. Don’t try to haggle or forcefully sell. Instead, be friendly, hospitable, and receptive to questions.

Mistake #5 - Trying to Sell to Lookers

A prospective buyer who shows interest because of a “for sale” sign he saw may not really ne interested in your property. Often buyers who do not come through a Realtor are a good 6-9 months away from buying, and they are more interested in seeing what is out there than in actually making a purchase. They may still have to sell their house, or may not be able to afford a house yet. They may even be unsure as to whether or not they want to relocate. Your Realtor should be able to distinguish realistic potential buyers from mere lookers. Realtors should usually find out a prospective buyers savings, credit rating, and purchasing power in general. If your Realtor fails to find out this pertinent information, you should do some investigating and questioning on your own. This will help you avoid wasting valuable time marketing towards the wrong people. If you have to fo this work yourself, consider finding a new Realtor.

Mistake #6 - Being Ignorant of Your Rights and Responsibilities

It is extremely important that you are well-informed of the details in your real estate contract. Real estate contracts are legally binding documents, and they can often be complex and confusing. Not being aware of the terms in your contract could cost you thousands for repairs and inspections. Know what you are responsible for before signing the contract. Can the property be sold “as is”? how will deed restrictions and local zoning laws affect your transaction? Not knowing the answers to these kind of questions could end up costing you a considerable amount of money.

Mistake #7 - Signing a Contract with No Escape

Hopefully you will have taken the time to choose the best Realtor for you, but as we all know, circumstances change. Perhaps you misjudged your Realtor, or perhaps the Realtor has other priorities on his or her mind. In any case, you should have the right to fire your agent. Also, you should have the right to select another agent of your choosing. Many real estate companies will simply replace an agent with another one, without consulting you. Be sure to have control over your situation before signing a real estate contract.

Mistake #8 - Limiting the Marketing and Advertising of the Property

There are two obvious marketing tools that nearly every seller uses: open houses and classified ads. Unfortunately, these two tools are rather ineffective. Less than 1% of homes are sold at open houses, and less than 3% are solf because of classified ads. In fact, Realtors often use open houses to attract future prospects, not to sell the house. Your Realtor should employ a wide variety of marketing techniques and be committed to selling your property; he or she should be available for every phone call from prospective buyer. Since most calls are received during business hours, make sure that your Realtor is working on selling your home during these hours. Chances are that you have a job, too, so you may not be able to get in touch with many potential buyers.

Mistake #9 - Choosing the Wrong Realtor

Selling your home could be the most important financial transaction in your lifetime. As a result, it is extremely important that you select the Realtor that is best for you. Experienced real estate agents often cost as much as brand new agents. Chances are that the experienced agent will be able to bring you a higher price in less time and with fewer hassles. Take your time when selecting a real estate agent. Interview several agents and ask them key questions. If you want to make your selling experience the best it can be, it is crucial that you select the best agent for you.

Selling Your Home

Where to begin?

First Impressions

Remember what first attracted you to your house when you bought it? What excited you about its most appealing features? Now that you’re selling your home, you’ll need to look at it as if you were buying it all over again.

Making a great first impression on potential buyers can be as simple as sprucing up your home. An attractive property grabs their attention and makes them excited about finding a house that looks and feels well-cared for. Buyers know they’ll encounter fewer problems if they buy a well maintained home. Your house stands out from the competition and becomes more appealing. If you prepare your home correctly, you’ll save time selling it when it’s on the market.

A good first impression makes an impact on a number of levels. It’s not just that way your house looks to potential buyers, but how it feels and smells to them, how their friends and family will react, and how they imagine it would be to live there. Simple improvements throughout your house can grab the attention of potential buyers and help them see why your house is right for them.

Plan Ahead

Create a plan to enhance your property. Keep a notebook for your selling project, and as you stroll through your yard, make a list of what needs to be done. Consider what you property looks like to people driving by or walking through your door. What will they like or dislike? What needs fixing, painting, or cleaning? What can you improve? Whether you paint your house or fix up the yard, your efforts don’t need to be costly; even inexpensive improvements and . minor repairs go far toward attracting serious buyers. Remember, those seemingly insignificant problems you’ve learned to live with over the years can actually discourage potential buyers. Here are ideas for increasing your home’s appeal in order to sell it quickly at the best price.

Interior

Clean Everything - Buyers expect a spotless house, inside and out, so clean everything, especially your windows and window sills. Scrub walls and floors, tile and ceilings, cupboards, kitchen and bathrooms. Wash scuff marks from doors and entryways, clean light fixtures and the fireplace. Don’t forget the laundry room, and be sure to put away your clothes.

Cut the Clutter - People are turned off by rooms that look and feel cluttered. Remember, potential buyers are buying your house, not your furniture, so help them picture themselves and their possessions in your home by making your rooms feel large, bright and airy. As you clean, pack away your personal items, such as pictures, valuables, and collectibles, and store or get rid of surplus books, magazines, videotapes, extra furniture, rugs, blankets, etc. Consider renting a storage unit to eliminate clutter in your garage and attic.

It’s hard to get rid of possessions, but cleaning and clearing out the clutter can really pay off in the end. It also gets you started packing for your next move. Make your garage and basement as tidy as the rest of your house. Simple little tasks such as storing your tools and neatly rolling up your garden hose suggest that you take good care of your home. Don’t let anything detract from making the best first impression.

Closets - They’re an important consideration to many buyers. By storing clothing you won’t use soon, you’ll make closets look spacious.

Paint - A new coat of paint cleans up your living space and makes it look bright and new. To make rooms look larger, choose light, neutral colours that appeal to most people, such as beige or white.

Carpet - Check its condition. If it’s work, consider replacing it. It’s easy and affordable way to help sell your home faster. Again, light, neutral colours, such as beige, are best. If you don’t replace it, you can suggest to potential buyers that they could select new carpet and you’ll reduce your price; buyers like to hear that they’re getting a deal. At the very least, have your carpet cleaned.

Repairs and Renovations - It’s best to avoid making major renovations just to sell you house, since you’re unlikely to recoup those costs from your selling price. Make minor repairs to items such as leaky faucets, slow drains, torn screens, gutters, loose doorknobs, and broken windows. Make sure repairs are well done; buyers won’t take you seriously if your home-improvement efforts looks messy, shoddy or amateurish.

Leaks and Moisture - Water stains on ceilings or in the basement alert buyers to potential problems. Don’t try to cosmetically cover up stains caused by leaks. If you’ve fixed the water problem, repair the damage and disclose in writing to the buyer what repairs were made.

Exterior

Curb Appeal - The “Wow” factor - that first visual, high-impact impression your home makes on potential buyers - can turn a looker into a buyer. To determine your property’s curb appeal, drive through your neighbourhood and note other properties; then approach your own house as if you were a potential buyer. How does it look? Does it “wow” you? Will its curb appeal attract buyers? Note what needs improving, such as trimming trees, planting shrubs, or painting gutters. Little things convey that you’ve cared for your home, and this is your opportunity to sell that important message to buyers who are shopping from the street. To get them through your door, do what you can to make your property look like someone’s dream home.

Paint/Stain - If it’s peeling or blistering and you can’t remember the last time you painted it, your house needs some attention. That aslo goes for stain that is significantly faded. A newly painted or stained exterior will help sell your house faster, and whether you do it yourself or hire someone, you’ll also increase your home’s value.

In the Yard - Gran people’s attention by enhancing your yard and landscaping. If your house looks inviting and well-maintained from the street, people will imagine that it’s attractive on the inside, too.

  • Prune bushes and hedges; trim trees.

  • Keep your lawn looking healthy and green by mowing it often, fertilizing it, and keeping it edged and trimmed.

  • Clean up and dispose of pet mess.

  • Week your gardens; add fertilizer and mulch; then plant colourful flowers.

  • In winter, keep your driveway and sidewalks shovelled, de-iced, and well-lit.

  • Stack firewood, clean out birdbaths, repair and paint fences.

The Front Door - An attractive entry catches a buyer’s eye and says, “Welcome”, so highlight this area of your house with decorative touches, such as a wreath on the door or new shrubs and flowers around the steps. For an even grander entry, clean and paint your front door, or replace it with a new one for a few hundred dollars. Don’t forget to fix and polish doorknobs, repair torn screens, and then put out that new welcome mat.

Keep yourself Organized

By using the following checklist.

Clean and Maintain

  • Windows, sills, and screens

  • Walls and floor

  • Tile

  • Ceilings

  • Cupboards and drawers

  • Kitchen

  • Bathrooms

  • Light fixtures

  • Ceiling fans

  • Carpet and rugs

  • Mirrors

  • Garage

  • Attic

  • Basement

  • Laundry room

  • Yard

  • Gutters

  • Replace furnace filter

  • Dust furniture, TV and computer screens

  • Closets

  • Remove clutter

  • Pack personal Items

IMPROVEMENTS

  • Stain or paint deck

  • Store tools

  • Roll up garden hose

  • Paint or stain exterior

  • Prune bushes and hedges

  • Trim trees

  • Mow lawn, fertilize, edge, and trim

  • Weed gardens, plant flowers

  • Shovel driveways, de-ice

  • Stack firewood

  • Clean our birdbaths

  • Caulk windows and doors

  • Repair and paint fences

  • Seal asphalt driveway

  • Make sure doors close properly

  • Enhance entryway

  • Replace welcome mat

REPAIR

  • Leaky faucets and plumbing

  • Torn screens

  • Slow drains

  • Gutters

  • Loose doorknobs

  • Deck boards

  • Broken windows

  • Electrical fixtures

  • Water stain damage

  • Broken appliances

  • Damaged walls and ceilings

  • Worn carpet and rugs

  • Damaged sidewalks and steps

The Right Selling Price Affects Your Bottom Line

When you’re selling your home, the price you set is a critical factor in the return you’ll receive. That’s why you need a professional evaluation from an experienced Realtor. This person can provide you with an honest assessment of your home, based on several factors including:

  • Market conditions

  • Condition of your home

  • Repairs or improvements necessary

  • Time frame

In real estate terms, market value is the price at which a particular house, in its current condition, will sell within 30 to 90 days.

If the price of your home is too high, several things could happen:

  • Limits buyers:

    • Potential buyers may not view your home, because it would be out of their buying range.

  • Limits showings:

    • Other salespeople may be less reluctant to view your home.

  • Used as leverage:

    • Other Realtors may use this home to sell against homes that are better prices.

  • Extended stay on the market:

    • When a home is on the market too long, it may be perceived as defective. Buyers may wonder, “What’s wrong?” or “Why hasn’t this sold?”

  • Lower price:

    • An overpriced home, still on the market beyond the average selling time, could lead to a lower selling price. To sell it, you will have to reduce the price, sometimes more than once. In the end, you’ll probably get less than if it had been properly priced at the start, resulting in wasted time and energy. A bank appraisal is most often required to finance a home.

Realtors have known it for years - Well-kept homes, which are properly priced from the start always get you the fast sale for the best price! That’s why you need a professional to assist you in the selling of your home.

 Major Elements of an Offer

  1. Price - Depends on the market and the buyers, but generally, the price offered is different from the asking price.

  2. Deposit - The deposit shows the buyer’s good faith and will be applied against the purchase price of the home when the sale closes.

  3. Terms - Includes the total price the buyer is offering as well as the financing details. The buyer may be arranging his/her own financing or may ask to assume your existing mortgage if you have an attractive rate.

  4. Conditions - These might include “subject to home inspection”,”subject to the buyer obtaining financing”, or “subject to the sale of the purchaser’s property.”

  5. Inclusions and Exclusions - These might include appliances and certain fixtures or decorative items, such as window coverings or mirrors.

  6. Closing or Possession Date - Generally, the day the title of the property is transferred to the buyer and funds are received by the seller.

Understanding Market Conditions

The real estate market is always changing. It helps to understand how market conditions can affect your position as a seller. Here is an outline of the different types of market conditions.

  • Buyer’s Market - the supply of homes on the market exceeds demand.

    • High inventory of homes. Few buyers compared to availability. Homes stay on the market longer. Prices tend to drop. More time to look for a home. More negotiating leverage.

  • Seller’s Market - the number of buyers wanting homes exceeds the supply or number of homes on the market.

    • Smaller inventory of homes. Many buyers. Homes sell quickly. Prices usually increase. May have to pay more. Make decisions quickly. Conditional offers may be rejected.

  • Balanced Market - the number of homes on the market is equal to the demand or number of buyers.

    • Demand equal supply. Sellers accept reasonable offers. Homes sell within an acceptable time period. Prices are generally stable.