If you’ve decided the Toronto market conditions are right and it’s time to downsize or move to a larger property, selling your house or condo can be emotional and stressful, so it’s a good ideas to get organized.
Making a home seller’s checklist can reduce the stress associated with the selling process.
Once you complete each step, check it off your list.
Figuring Your Finances
The first item on your home seller’s checklist should be related to planning your finances. It’s important to calculate all the costs related to the selling process. Agent fees can vary, though 5 – 6% of the sales price seems to be the norm. We see more 5% than 6%. Consider other costs such as a transfer fee, a title search and other legal documents. The seller also pays prorated taxes. Later on in the process a home inspection might reveal the need for repairs. Estimating expenses gives you a better idea of the financial obligations you’ll need to deal with when selling your property.
Pricing Your Home
Many factors influence price. Listing too high or too low can exclude buyers interested in a certain price range. A good selling agent can help set an appropriate price which considers the property’s condition, the neighbourhood trends and recent prices of comparable properties sold in your area.
Marketing Your Home
Digital technology provides a number of on-line tools that support the sale of your house or condo. Your agent can promote your property listing through social media, on a website dedicated to your specific property, or on YouTube, just to list a few tactics. Traditional methods such as an ad in a local newspaper are also available, though many people seem to question the relative return on investment of this approach compared to on-line options. Ask friends and family to tell others about your listing. You would be surprised how many people find their property by getting an inside track by hearing first about upcoming listings.
Displaying Your Home
The fourth item on your home seller’s checklist relates to open house showings. An open house is an excellent tool for gathering offers. House hunters can see first-hand if your house or condo fits their needs. It is crucial to show your home at its best potential. Clean, de-clutter and de-personalize. Consider hiring a professional stager, like StagingWorks. Professionals trained in staging can transform a mediocre house into a dream home. Pets should visit a friend. Besides being afraid of animals, some visitors may notice hair or pet odors, or could even have allergies. Fresh flowers are a good plan.
After you review offers and make counter offers, you agree on a price and sign paperwork. Unless there are major problems with the inspection or buyer financing, the process is just about complete. It’s time to make the final check mark.
When selling, it is a good idea to stay organized and tap into professionals like a great real estate agent and home stager. In addition to reducing the anxiety during the selling process, it will help you make an effective buyer’s list when you are purchase your next property.
Hopefully these tips on making a home seller’s checklist alleviate some of your stress when you make the decision to sell.