What to expect during the house SELLING process! ✔
Thinking about selling your house? We will help you prepare, price, and market your Saskatoon area property. We work hard for our clients and guarantee quality service and professionalism. You can count on us to be transparent and honest every step of the process. We’ll show your space to qualified buyers and skillfully negotiate on your behalf to secure the best price and the quickest closing. Selling Saskatoon and area houses since 2013!
A Step by step guide
Selling a house can be a bit of a mystery sometimes but a real estate agent will be the best asset you can have as they are there to take the mystery away and give you peace of mind! So first off thank you for considering us for the sale of your house!
So here goes…gonna start to take the mystery away….
Step 1 – Find awesome real estate agent – Check (congratulations) 🎉
Step 2 – Contact your mortgage company to determine the state of your current mortgage to understand if there are any payout penalties and what your current mortgage balance is. Also, do you have any additional lines of credit or loans which are secured to your house?
Step 3 – List your house with an awesome real estate agent. 🙂 This includes a listing contract 📄 that outlines many things including commission costs and a data input form that outlines the details of the property. Commissions are typically 6/4/2 + tax (6% on the first 100k, 4% the next 100k and 2% on the balance) of that 3/2/1 of it is provided to the buyer’s agent.
Step 4 – A few of the many things I will do next, all are a part of my service and have no costs for you, I will take care of it!:
- Have professional photo’s 📷 taken.
- Create a Virtual tour 📹, an actual tour that allows you to walk through the house, not a slide show of pictures.
- Have the house added to MLS, realtor.ca, www.theurbanfarmhousesaskatoon.com, kijiji.ca plus many more online classifieds
- Create the house book 📘 which includes listing info, area info, maps, utility breakdowns, etc) you will display this in the house when there are showings so the potential buyers can answer some of the questions they may have
- Create online ads on Facebook & other online platforms
Step 5 – Your first Showing! I will contact you to coordinate the showing based on the agent’s request. It is best to be out of the house for the showing, including pets. Some tips: blinds open and lights on, toilet seats down and avoid strong odors 👃 (good or bad 🦨)
Negotiate the Sale
Step 6 – Once we have an offer I will present it to you and review all of the details. The offer will include details like:
- offer price, deposit value, down payment value
- possession date
- conditions – typically – mortgage approval, home inspection 🏠🔎, PCDS (Property condition disclosure statement which is basically a document with a bunch of questions about the property which the seller answers, ie have you ever had water issues) Conditions have a deadline to be removed, typically 7 – 10 days
Step 7 – We have 3 options at this point; accept (rarely happens), ignore (sometimes happens if the offer is really low) or counter (typical)Step 8 – Once we have an accepted offer the following happens:
- The buyer will set to work on removing conditions, working with their lender for financing etc.
- I will provide any documentation 📄 requested, PCDS etc
- I will coordinate the scheduling of the home inspection. 🏠🔎
Step 8 – Assuming all goes well with the mortgage and all inspections they will remove conditions and you will have a firm sale.
Step 8a – If, for some reason, they do not remove conditions – IE they can not get financing then we are back to step 5.
Prepare to Move
Step 9 – START PACKING!
Step 10 – This is closer to the possession, you will need to meet with your lawyer (do you have one)? I could recommend one when the time comes if you like. The lawyer will have you sign a butt load of papers! You should budget approximately $1000 – $1200 for lawyer fees. The fees when selling are a lot lower compared to buying. As the buyer pays for the land title transfer fees.
Step 11 – MOVE OUT! – on possession day I will confirm with the lawyer that the house is releasable (meaning everything is in place on both sides so I can provide keys) And I will coordinate getting the keys to the buyer’s agent.
I hope this helps clear up some of your questions? Contact us if you have any questions or are ready to get started!