Paul & Dorothy Desrochers, sponsors of www.marchwood-lakeside.com
invite you to take advantage of this FREE interactive web site.
Click on
"Today's Life Solutions"..... everyday problems, solved!
Sign up for the FREE newsletter.
10 Sell Steps

STEP 1 - DEFINE NEEDS

Reasons for selling include: a growing family that needs more space or a job
opportunity that necessitates a move across town or to another city. Things you
want to accomplish with the sale may include the time frame in which you'd like
to sell or a particular profit margin.

Work with your real estate agent to map out the best path to achieve your
objectives and set a realistic time frame for the sale.

STEP 2 - PRICING STRATEGY

Your next objective should be to determine the best possible selling price for
your house. You will need to take into account the state of the local market, the
condition of your home and sales of comparable homes in your neighborhood.
It is often hard to maintain a non-biased view of your property, so you will want to
gather the necessary information in the most objective way possible. If you want
a truly objective opinion about the price of your home you could have an
appraisal done. This may cost between $300 and $500.

Be reasonable about the price you set. You will always be better off setting a fair
market value price than setting your price too high. If your home stays on the
market too long because it is overpriced, potential buyers may think that
something is wrong with it and you may end up selling it for less than what you
could have gotten if you had started out with a realistic asking price

STEP 3 - PREPARE YOUR HOME

It's time to get your home in "showing and selling" condition. Most of us don't
keep our homes in the condition they need to be in to be sold. Piles of boxes in
the garage, a broken porch light and even an overgrown garden just seem
normal after awhile. It's time to break out of that owner's mindset and get your
house in tip-top shape. How your home looks will impact how quickly it sells
and the price the buyer is willing to offer.

First impressions are the most important. Work with your real estate agent to
help you take a fresh look at your home. Do the shrubs need pruning? Do you
need to repaint? What's normal for you may be unacceptable to the buyer.
•        Make your interior appear more spacious by removing appliances from
countertops, and clearing knickknacks off coffee tables and shelves.
•        Organize your closets and kitchen cabinets.
•        Make sure items stored in the attic or basement are tidy.
•        Open the curtains or blinds during the day to maximize the natural light.
•        Turn on the lights at night to create a welcoming environment for
prospective buyers.
•        A home with too much "personality" is harder to sell. Consider painting
walls white and removing clutter. This will help the buyer to visualize the home
as theirs.

STEP 4 - MARKETING STRATEGY

Now that your home is ready, it's time to put it up for sale and market it.
Establishing a marketing strategy with your real estate agent is a must. Your
agent will expose your home to the greatest number of potential buyers
possible. He or she will use a marketing plan that will bring not only the most
buyers, but also the most qualified buyers to your doorstep.

There are many different ways to get the word out that your home is for sale. A
yard sign, flyers, and direct marketing are just a few of the many options
available. If you are in a buyer's market you will have to be extra careful when
choosing a plan. You don't want your property to sit unnoticed. You and your
agent should structure your marketing strategy so that the first 3-6 weeks that
your house is on the market will be the busiest.

STEP 5 - RECEIVE AN OFFER

When a buyer decides they like your home, they will make you a written offer.
Your real estate agent will advise you as to whether or not the prospective buyer
is qualified to purchase your home. After all, who needs to review an offer from a
buyer that is unable to buy it?

After determining the buyer's qualifications, you and your agent will review the
written contract, taking care to understand what is required of both parties to
execute the transaction. The contract should protect the interests of all parties.

After you accept the offer, it may be too late to make any changes. The contract,
though not limited to this list, should include the following:
•        Legal description of the property
•        Offer price
•        Down payment
•        Financing arrangements
•        List of fees and who will pay them
•        Deposit amount
•        Inspection rights and possible repair allowances
•        Method of conveying the title and who will handle the closing
•        Appliances and furnishings that will stay with the home
•        Settlement date
•        Contingencies
Remember that the legalities of this phase are very important. If you have any
questions or concerns, be certain to address them with your real estate agent
right away.

STEP 6 - NEGOTIATE TO SELL

Most offers to purchase your home will require some negotiating to come to a
win-win agreement. You real estate agent is well versed on the intricacies of the
contracts used in your area and will protect your best interest throughout the
bargaining. Your agent also knows what each contract clause means, what you
will net from the sale and what areas are easiest to negotiate. Your agent will
review the written offer with you to make sure you thoroughly understand what
the buyers are offering and what they are asking you for in return.

Some negotiable items:
•        Price
•        Financing
•        Closing costs
•        Repairs
•        Appliances and fixtures
•        Landscaping
•        Painting
•        Occupancy time frame
Once both parties have agreed on the terms of the sale, your agent will prepare
a contract. Remember…bargaining is not a winner-take-all deal. It is a
business process that involves compromise and mutual respect.

STEP 7 - SELLING SERVICE PROVIDERS

Once you accept an offer to sell your house you will need to make a list of all the
things you and your buyer must do before closing. The property may need to be
formally appraised, surveyed, inspected or repaired. Depending on the
specifics reached during the negotiations, you may pay for all, some or none of
these items. If each procedure returns acceptable results as defined by the
contract, then the sale may continue. If there are problems with the home, the
terms set forth in the contract will dictate your next step. Depending on the
contract, you or the buyer may decide to walk away, open a new round of
negotiations or close.

STEP 8 - PRE-CLOSE PREPARATION

A few days before the closing you will want to contact the entity that is closing
the transaction and make sure the necessary documents are going to be ready
to sign on the appropriate date. It would be a shame to get this close to selling
and have the deal fall through because of a missing form. Begin to make
arrangements for your upcoming move if you have not done so. Check out our
Relocation Center to get started.

STEP 9 - CLOSING

"Closing" refers to the meeting where ownership of the property is legally
transferred to the buyer. Your agent will be present during the closing to help
explain the process and forms to you and make sure everything goes as
planned. By being present during the closing, he or she can mediate any last
minute issues that may arise. In some states, an attorney is required and you
may wish to have one present.

As the seller, you will need to be prepared to hand over any necessary
documentation regarding the property and, depending on the arrangements
made during negotiations, you may be required to have done something
specific in order to close.

Be sure to read all the documents and ask questions. It is important you
understand every document you are signing.

STEP 10 - POST CLOSE

Congratulations on the successful sale of your home!

Now that you have closed, prepare to vacate your home in the time frame
agreed upon. You should make a list of all the items you will need to do to turn
the property over to the new owners. For example, make sure to cancel
electricity, gas, lawn care, cable, etc., or if the new owner is going to retain some
of the services, change the name on the account. The home and all items
specified by the contract should be prepared appropriately for the new owners.
Paul & Dorothy
Desrochers
Brokers

Keller Williams
VIP Realty Inc.
301-245 Stafford Rd W,
Ottawa, ON  
K2H 9E8

Direct:
613.721.5336
Office:
613.829.1818
Fax:
613.721.5335

Email:
pdesrochers@kwvip.ca
Web:
www.pauldesrochers.com
VIP REALTY INC.
independently owned and
operated brokerage