Home Selling Process

1. Determine whether there will be a penalty to get out of your mortgage term when you sell.
2. Contact a REALTOR® in your area and see if he/she is a right fit for you.
3. Order Strata Documents that will be required by a Buyer for your Home. (Condos & Townhomes only)
4. Pre-Inspection Report (Optional). It is always a good idea to get a pre-inspection report prior to listing your home so you know the condition of your property and this will help prevent Buyers from walking away from a transaction due to any surprises.
5. Clean, repair any deficiencies, paint if needed, depersonalized, declutter, declutter, and DECLUTTER.
6. Yes, we’ve seen it on Real Estate shows, Staging. This will help Buyers envision how the space should be used in a home. Some bedrooms look small with no furniture, but it may be sufficient for a queen bed, side tables, and a dresser. Also, how a seller uses the space may not be ideal for many buyers. Staging does not have to be done professionally, and your REALTOR® can often provide great tips on how to make your home look more presentable and appealing.
7. Have your home ready for photography.
8. Virtual Tour and Floorplans.
9. List it.
10. Set up Open Houses and schedule showings for private viewings.
11. When an offer comes in, you negotiate favourable terms, price, and dates. Once it is accepted, the Buyer will have a short time period to line up their financing, get an inspection, and read the strata documents.
12. Once the conditions are fulfilled, then you have a firm offer with a deposit.
13. A few days before the Completion Date (day when Title ownership transfers), your lawyer/notary will set a time for you to sign some paperwork to transfer title.
14. Possession day is when the Buyers take vacant possession of the home. The home should be clear of personal belongings and debris. Remember to update your new address with financial institutions, insurance companies, service providers, anywhere else you can think of, as well as Canada Post.

Buying Real Estate

So you are thinking of buying a home, real estate, or investment property. There are two professionals that I recommend you to come in contact with: a Mortgage Specialist and a REALTOR®.

A Mortgage Specialist can have you pre-qualified, so you will have a better understanding of your financial position and know what the maximum amount you can invest in a home. Of course, you do not need to spend the maximum amount. Also, if the interest rates are favourable when you are looking for a home, you can secure that rate for 90-120 days in case it may increase in that time period.

It is better to how much lenders will finance you because if you don’t, you can search for a property for months only to write an offer and have the offer fall apart. It is always better to be prepared especially for such a big investment.

Homes that are listed on the market are listed through a REALTOR®. Sellers hire a Real Estate Agent to list their property on the market. When buying a home, it is recommended you hire your own REALTOR® to have someone negotiate and protect your best interest. Your “Buyer’s Agent” will provide you with their honest opinion, prepare an enforceable contract that will protect you through the transaction, negotiate on your behalf to get you the best price and/or get you the home you want.

If you would like to know more about Buying Real Estate, please read through the other sections under the Buying heading. You can also always contact me if you have additional questions.

– Note: HST is applicable only when purchasing vacant land or brand new from a developer. In most cases, it is not applicable when buying RESALE property –