KAMLOOPS REAL ESTATE
HOME SELLER'S GUIDE: FOR SALE BY OWNER
So you've decided to sell your home! The next question is: who's going to do all the work?
If you'd like to sell your home yourself, we highly suggest that before you begin, you take some time to review the following list of items that you'll need to complete to ensure the successful sale of your home:
- Deciding to sell: You'll need to conduct your own research regarding the current housing market, moving costs, your tax situation, and your home equity.
- Preparing to sell: You may want to get a pre-sale inspection to determine if any repairs should be made, as well as an appraisal to assess the value of your property.
- Setting the price: The challenge of setting the right price is a balance between your desire to get the best price for your home without deterring qualified homebuyers. You'll need to consider such items as recent sales for comparable homes in your neighbourhood, location, current market conditions, selling season, amenities, repairs, and extras like deck, pool, garage, etc.
- Preparing your home: You'll want to present your home in the best possible light. Make the necessary repairs, remove the clutter, and make your home warm and inviting.
- Negotiating the deal: After reviewing all the factors associated with the price, you'll want to determine in advance the lowest price you're willing or able to accept.
- Advertising your home: You'll want to place and pay for advertising in newspapers, on the internet and other places. Then you'll field questions from interested buyers, handle open houses and show your home to potential buyers.
- Closing the sale: This part can be tricky. Some factors may hinder a successful closing, including unsatisfactory home inspection, an appraisal that's too low to qualify for a mortgage, title problems and even a buyer who gets cold feet. You'll need to process all the paperwork, usually with the assistance of a lawyer.
You'll want to ask yourself some questions, to realistically assess the work involved in the home selling process:
- Do I have the necessary knowledge, patience, and sales skills?
- Can I accurately access the current market value of my home, from my research sources?
- Do I know about the marketplace conditions that affect the value of my home?
- Do I know the best places to advertise? What about the costs?
- Can I bring an objective opinion to the sale of my home, seeing it from a buyer's prospective?
- Can I put my emotional attachments to my home aside and realize that selling my home is also a business transaction?
- Can I negotiate a successful outcome when an aggressive buyer presents a less-favorable offer?
- Do I understand real estate regulations and can I prepare a binding sales agreement? What about counter-offers?
- Can I determine whether a buyer qualifies for a mortgage?
- Do I understand the various types of mortgage financing available and the effect they may have on me, the seller?
- Will I give up my evenings and weekends to show my home to prospective buyers, many who are "tire-kickers"?
- Did I know that prospective buyers and bargain hunters might want a price reduction because there is no professional involved?
- Can I handle all the details involved in the selling of real estate? Do I have the necessary forms and legal documents used in sales?
If any of the above leaves you feeling overwhelmed, consider hiring REALTOR®
For most people, a home represents the largest financial asset they'll ever have - but it's more than just dollars. It represents your family, your memories, your goals, and your dreams. From the moment you start thinking about selling your home, you're presented with numerous choices, decisions and uncertainties. A REALTOR® is professionally trained to handle all of the above situations and can help navigate you through common errors made when selling a home.
- Incorrect understanding of market conditions and pricing
- Relying on inappropriate advertising and marketing that does not generate buyers
- Incorrect understanding of how the home buying and home selling processes work
Please take a moment to consider the below benefits of a professional real estate team like River City Realty. Here is a a short list of just some of the benefits you'll receive when you choose to have our office represent you when selling your home:
- Availability: REALTORS® are always on call, answering the phone at all hours, and are free to show your home
- Full-time professional staff that handles the all the details involved in the sale of your home
- A professional team that understands the real estate industry, from both the buyer and seller perspectives
- A professional team that listens to your needs, respects your opinions, and encourages you to make educated decisions
- Access to a network of real estate marketing resources to place your home before the most qualified buyers
- Access to the most current market conditions and statistics
- Correct pricing of your home, to give you the highest profit
- Placement and payment of effective advertising in the right places and with the best results
- Expert advice on making improvements that will increase the profit you'll receive on your home
- Showing of your home in the most professional, effective, and favorable manner
- Objective representation for offers and counter-offers and effective negotiation
- Screening of potential buyers and elimination of bargain shoppers
- Resources to complete your transaction, from lawyers, inspectors, renovators, engineers to mortgage and insurance brokers
- A professional team that adheres to a professional code of conduct, established by local and national real estate associations
- A professional team that protects your rights