Seller's Guide

Let's get into the details with an in-depth guide

You've got this!

Selling a home can be complicated. From preparing the property and marketing the listing, to the negotiations and paperwork — there’s plenty to do. If you’re ready to begin the selling process or simply want to plan ahead, this guide is an ideal starting point.

Steps in home selling

Step1: Choose your Agent

Choosing the right agent can make a difference in the quality of your entire homeselling experience. And working with me as a REMAX agent means you unlock access to current market information. 

I combine local market knowledge with a strong marketing strategy to make sure your home stands out and attracts serious buyers. From professional presentation and targeted online exposure to skilled negotiation, every step is designed to maximize your sale price. I'll take a look at the neighborhood market and provide you with a Comparative Market Analysis (CMA) and give you an approximate value — this will give you a sense of what to expect going forward.

I’m also big on communication. You’ll always know what’s happening, and I respond quickly so you’re never left wondering.

My goal isn’t just to sell your home, it’s to make the process smooth, informed, and successful for you.

Step2: Declutter

When listing your house and preparing for showings, it’s best to organize your space. A good rule of thumb is to sort through all the items you don’t use regularly and sort them into three piles: pack it, donate it and discard it.

Pack It

If you’re packing up, consider renting a portable storage container, they’re delivered to your home, picked up when full and stored until you need them again. Just note: if your property or HOA doesn’t allow portable units, look into a nearby storage facility as a backup option.

Donate It

For the items you’re donating, a number of charities now offer scheduled donation pick-ups. Consider donating furniture pieces to Habitat For Humanity or clothing donation here.

Discard It

For the items you’re discarding, first make sure they can be discarded. Certain items need to be recycled or properly disposed. Check this website to find a convenient and affordable way to properly dispose of certain materials. If what you have truly can be discarded, consider renting a dumpster for large quantities.

Step3: Staging

You have the option of hiring a professional stager. They will start with a consultation, providing you with suggestion and options on how to make your home stand out in the market. Professional stagers can work with the furniture in the home or bring in rental pieces.

If don't choose a professional stager, consider the following:

1. FIX minor flaws and imperfections; buyers don’t want deferred maintenance issues.

2. REMOVE excess furniture from rooms and clutter from countertops to make spaces appear larger.

3. CLEAN and organize everything including garages, closets, storage rooms and laundry rooms. Buyers look everywhere.

4. WASH windows, pull back curtains and turn on lights in dim rooms to brighten areas and make rooms appear larger.

5. PAINT walls in light neutral tones and pack up family pictures so buyers can envision their décor preferences.

6. MANAGE your yard; shovel the paths, mow the lawn, plant flowers and remove cobwebs from the door frames and light fixtures.

Step4: Listing Preparation

When you feel your home is ready to officially hit the market, we'll get together so you can share all the details about your home. I want to know everything, the good, the bad, and the ugly; this helps me represent you in the best way possible. Gather all documentation you have regarding your home (ex. warranty information, Real Property Report (RPR), lease agreements, name of property management, etc). If you live in a condominium, you will be required to provide me with all necessary condo documents. 

I'll measure your home using the Residential Measurement Standard (RMS). Do not be alarmed if it is a different number than you had originally thought as the universal standard did not come into effect until 2015. Additionally, if you bought your home as a new build, builders in Alberta are not required to follow the RMS.

We'll get photos of your home; should you want a certain room or area highlighted, please let me know so I can ensure it is photographed. 

Consider the following:

Do you want Open Houses?

When can potential buyers view your home? What is your schedule like?

Do you want to sell certain furniture pieces with your home?

Step5: Hit The Market!

We'll work together to create a marketing strategy for your home. Most people find this part of the process feels a bit disruptive to their life; keeping the house clean, leaving for showings, etc. I'll do my best to check in with you through this stage to ensure you feel supported. Do not be shy to let me know if you need a break from showings and I can reschedule them for you.

Interested buyers will put together a Purchase Contract. This is an agreement to purchase your home and once accepted by the you, signed and all changes intialed by both parties, will become a legal document in the transaction. The offer can be unconditional, or conditional on a number of factors, such as financing or home inspection. Buyers will place a Deposit once a Purchase Contract is accepted by both buyer and Seller. This amount will be held in trust by my brokerage or your lawyer until the deal closes, at which point it is applied to the purchase price. 

Offers on your home will be sent to me. You have the option of waiting until a certain day to review them all at once, or review them as they come in. You also have the option to disclose to other potential buyers that we have multiple offers on the table or we can keep this confidential. I will assist you in negotiating, whether it is regarding Purchase Price or Conditions. 

Step6: Conditional Period

Should you choose accept a conditional offer, your home will be marked as "Pending" during the specified time frame. This time will be used to satisfy any conditions, such as completing a property inspection or reviewing condo documents. If the conditions are satisfied, a Waiver of Conditions is completed to remove this condition from the sale of the home, agreeing to purchase the home. If the conditions are not satisfied,  a Non-Waiver of Conditions is completed to cancel the purchase and have the deposit returned to the buyer. 

The time frame for a conditional period varies depending on what is needed to be done. However we can see a typical time frame of 2-4 weeks for conditions to be satisfied. As a seller, you can ask to see the buyer's mortgage pre-approval letter to determine if a buyer has taken the necessary steps in working towards a purchase. This may shorten the time needed for conditions to be satisfied or assist you in choosing an offer. 

During the conditional period, adjustments may be made to the Purchase Contract. As an example, if a property inspection is completed and problems are discovered,  the buyer may ask for the issue to be addressed or request a change in purchase price to cover the cost of the repair. Should more time be needed to satisfy the conditions, an extension may be requested through an Amendment. 

Should the seller choose to make an unconditional offer, they are in essence purchasing a home "as-is", with no option to review finances or issues within the home. Once the offer is accepted, the home will be marked as "Sold" and you are in a legal agreement to sell the home.

Step7: Removal of Conditions

Once conditions are "waived", the home is marked as "Sold" and you have entered a legal agreement to sell your home. During this time, you will have appointments with your mortgage lender to have your mortgage paid off with the sale proceeds and appointments with your lawyer to transfer the home from the you to the buyer. 

During this time, I would suggest you begin preparing by also:

• Changing addresses in important accounts such as banks. You can ask Canada Post to forward your mail here. 

• Cancelling utilities. Ensure you have utilities running on the home until the Possession Date. 

• Cancelling home insurance. Ensure you have home insurance valid until the Possession Date. 

• Moving your items out of the home. You'll want the home to be properly vacated prior to the Possession Date. You will also be required to keep your home in the same condition as when the Purchase Contract was accepted. 

The time frame for this depends on when the you would like to vacate the home, when the buyer would like possession, and the amount of time the lawyer needs to complete all necessary documents, transfer funds, and the ownership. Typically the minimum amount of time needed is 2 weeks. 

Step8: Possession Date

"Completion Day", this is the day I hand over the keys to the new home owner! Ensure you've collected pertinent items for the buyer. Collect all keys (including your mailbox key), garage door openers, remotes, manuals, etc. You can feel free to write a letter to the new home owner. The Purchase Contract stipulates the possession time to be Noon, however it depends on when the your lawyers have confirmed receival of funds. Under special circumstances, this may take more than 1 day. Once I receive the call that funds are confirmed, I will release the keys to the buyer's agent. 

Please know I am always a resource for you, even after you have sold your home for some time. My phone is always on, please give me a text, call, or email should you need assistance in any way, shape, or form. 

I am looking forward to being there for you every step of the way. Should you have any further questions that aren't answered in this guide, please give me a call and I can do my best to answer your questions

Costs Associated With the Sale

As a seller, you are responsible to for the fees of the selling and buying agent. The fee will be paid to your selling agent, and split with the buying agent.

In addition to the fees, there are several other upfront costs that you will need to be prepared to pay. Budget 3% to 7% of the purchase price towards the following:

1. Home Preparation/Staging

2. Pre-Listing Home Inspection

3. Obtaining Condo Documents

4. Mortgage Discharge fees

5. Property Tax

6. Lawyer Fees & Disbursments

Glossary of Frequent Terms

1. Buyers Market. In a buyer’s market, there are more homes on the market than there are buyers, giving the limited number of buyers more choice and greater negotiating power. Homes may stay on the market longer, and prices can be stable or dropping.

 

2. Bridge Financing. A short-term loan designed to “bridge” the gap for homebuyers who have purchased their new home before selling their existing home. This type of financing is common in a seller’s market, allowing homebuyers to purchase without having to sell first.

 

3. Closing costs. The costs associated with closing the purchase deal. These costs can include legal and administrative fees related to the home purchase. Closing costs are additional to the purchase price of the home.

 

4. Comparative market analysis. A Comparative market analysis (CMA) is a report on comparable homes in the area that is used to derive an accurate value for the home in question.

 

5. Counteroffer. When the original offer to purchase a home is rejected by the seller, the seller can counteroffer with adjustments, usually to the price or terms of the purchase, such as the closing date.  

 

6. Down payment. The down payment is the amount of money paid up front for a home, in order to secure a mortgage. Down payments less than 20% of a home’s purchase price may require mortgage loan insurance. The selling price, minus the deposit and down payment, is the amount of the mortgage loan.

7. Property inspection. The property inspection is performed to identify any existing or potential underlying problems in a home. This not only protects the buyer from risk, but also gives the buyer leverage when negotiating a purchase price.

 

8. Real Property Report (RPR). An RPR will identify property lines and structures within the property boundaires. Simply put, it helps define what is yours and what isn’t. It is not required to purchase a house, but it is recommended. A survey is important if issues arise between neighbors or the municipality, should the owner wish to make changes in the future involving property lines or structures within the property.

 

9. Seller’s market. In a seller’s market, there are more buyers than there are homes for sale. With fewer homes on the market and more buyers, homes sell quickly in a seller’s market. Prices of homes are likely to increase, and there are more likely to be multiple offers on a home. Multiple offers give the seller negotiating power, and conditional offers may be rejected. 

 

10. Title insurance. Title insurance is a policy designed to protect both yourself and your mortgage lender from financial loss or damages caused by potential title defects such as code violations or legal complications. Typically this is paid for by the seller

Let's Talk!