These are tough economic times for many, and almost everyone is looking for ways to cut corners on their spending and keep more money in their pockets. When it comes to real estate, that means cutting out the middle man - the real estate agent - and avoiding losing upwards of 5% of the profits on your home sale, which can amount to thousands of dollars. But selling a home is complicated. Do you have what it takes? Yes you do, and we can help. Just follow these simple steps.
Create a Listing
A listing is the ad that will introduce people to your home. It includes a picture, an address, the price, your phone number, and a brief description of the home's features, such as the number of bedrooms and the number of square feet. A real estate agent would know exactly what price to charge to make it seem fair to buyers, but you can research what other homes in your neighborhood are selling for to find out the same information, or you can hire an appraiser.
Advertise and Show
There are plenty of people who are looking to buy homes in Ottawa, so all you have to do is make sure they know about your home and you're sure to get some bites. How do you get the word out? Put ads in the local newspaper, in the flyers, in the online classifieds and real estate sites, and put signs out on the lawn. Then be available to answer questions from potential buyers and to show them around the house if they want to have a look.
After all that hard work, you'll likely be rewarded with an offer from one or more buyers. At this point you have to decide whether what they're offering you is a fair price for your luxury condo in downtown Vancouver or whether you want more than that. If it's fair, you can accept and be done with it. If it's not, you'll have to negotiate with them. This process can seem like an endless back and forth, but don't lose sight of your goals. You may have to compromise, so decide on the minimum you will take and don't back down.
Once you and the buyer have agreed on a price, it's time to close the sale. You can't just sign the registry papers and hand it over like you can with a car. You have to get a contract drawn up and looked over by a real estate lawyer so that everyone knows what's included with the home, when the transfer of ownership will take place, and how much money will need to change hands before any of this happens. Of course, if all of this gets to be too much for you, there is much to be gained by asking an agent for help. Most have years of experience in the industry and know all the ins and outs. They also have contacts and resources that can be available to you. One example would be a home inspection company. You want to be certain a certified inspection company does a thorough report on the condition of the property. If there are renovations to be completed, you might want to consider researching rebate opportunities available to you. We suggest you speak with Rental rebate about renovation and HST rebates to get started.