Home Sellers Tips

There are four major components in getting your property sold in a reasonable amount of time and for top dollar.

• Selecting the right agent:  Select an agent who has a proven track record for selling property in a reasonable amount of time, who has a good reputation in the marketplace and first and foremost, demonstrates honesty, competence, ambition and an aggressive marketing approach.
  
  
• Condition:  When your property has been listed and potential buyers are looking at your home, remember, first impressions are never forgotten.  Work with your agent to prepare your property by having your home neat and tidy, and removing, as best as you can, any items that make your home appear cluttered.  If some interior walls need to be painted, do so - it will cost very little in comparison to the return you will receive for your labours.  Remember to keep your home clean, clean, clean.  Purchasers react to what they see, smell, hear and feel.
  
  
• Location:  There is very little any of us can do about the location of our property.  Recognize the pros and cons of your location and adjust your asking price to reflect them.
  
  
• Price:  This is what we all are most concerned with.  Dialogue with your agent is essential in setting the correct price on your property, which will be affected by Market Value.  Comparable properties which have been recently sold, and then adjust those prices to reflect any differences.  It is very important to remember that a property that is priced correctly in the first place has the greatest potential for getting the best dollar possible in a reasonable amount of time.

Your tax assessment on fair property value means very little.  Some people look at their tax assessment as a way of deriving a value on their property, but unfortunately the problem here is that assessments are based on a number of criteria unrelated to the true value of the property.  Have you ever heard of two identical homes in the same  with dramatically different assessed values because one was purchased more recently then the other?  It happens quite often.

When setting a price for your property you must leave room on the list price for negotiations.  Once value for your property has been obtained, add a negotiation factor of 3% to the value or your property.  Please remember it is the agents' responsibility to get you top dollar for your property.  Beware of agents who offer you the highest selling price.  They may be trying to buy your listing.

Purchasers have a right to be informed about all aspects of the property known to the vendor.  Your agent will assist you with completing a vendor property information sheet which covers all aspects (positive and negative) of the property known to you, the vendor.  This information sheet makes the buyer more familiar and comfortable with the property.  Even if there are negative aspects about the property, always disclose these facts.  The potential buyer will appreciate your honesty and will be more willing to present an offer.  There is also the risk of a lawsuit if the information is not absolutely truthful.

By utilizing your home's marketability to the fullest, you'll increase your chances of attracting more than one potential buyer.  Several buyers in competition for your property will provide greater returns than a single buyer.

Normally buyers want the best property they can get for the least amount of money.  If you are able to find out what specifically motivates your buyer this will enable you to negotiate more effectively.  Possibly the purchaser needs an early closing date or he can only qualify for a mortgage slightly under the asking price...information of this nature puts you in a better bargaining position.

Don't let your emotions get the best of you.  Your investment in your home is incalculable, but if you approach negotiations in a detached, business-like manner, you'll find the process of selling your home less painful. If your experience with the negotiating process is somewhat limited, don't worry - you have a professional agent to assist you.

The first offer is probably going to be below what we both know the buyer will end up paying for the property.  Don't get angry or insulted.  Evaluate the offer objectively, make sure all important aspects are in the offer and then negotiate from this vantage point.

If at all possible, don't move out before you sell.  Under normal circumstances it is more difficult to sell a home that is vacant.  It looks forlorn, forgotten and simply not appealing.  If you move you're telling potential buyers that you're motivated to sell.

Make sure everything is spelled out in the contract.  Dotting our "i"s and crossing our "t"s by making sure that all of the terms, costs and responsibilities are clear and specific in the agreement of purchase and sale, will make for a smooth transition.  It should include the date the contract was drawn up, the names of all parties in the transaction, address and legal description of the property being sold, purchase price, location of deposit monies, date of closing, dates for any conditional clauses to be removed, and personal property included in the sale.

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