Deciding When to Sell
In real estate, timing influences your home's selling price. Working with a MaxWell REALTOR® can help make the timing work in your favour.
A buyers or sellers market
When lots of people are looking for homes and not many are for sale, it's called a 'seller's market'. When there are lots of homes for sale and not many people buying, it's called a 'buyer's market'. In a seller's market top price and a fast sale can go hand-in-hand. In a buyer's market more sellers are competing for your potential buyer, so If you have to sell quickly consider lowering your asking price a bit to speed up the sale.
What if you're also buying a home?
If you sell your existing home for a 'low' price you're probably also buying at a low price. If you are upgrading to a larger home this actually works to your advantage. If you're downsizing from a bigger home to a smaller home or a condo, you need to pay a bit more attention to the market and we can help.
To buy first or sell first?
Generally speaking, under most market conditions, real estate professionals advise listing your present home and then shopping for your new home after accepting an suitable offer.
Most people are unable to buy before they sell their existing home, but are able to time their sale and purchase so they happen on the same "closing date".
Your MaxWell REALTOR® can provide advice and counsel to assist you with making the right decision for your needs.
Listing your home
Determine your home's asking price. The right asking price will attract attention and get you maximum return. With the help of a MaxWell REALTOR® you can set the right market value on your home to get the most out of any interested buyers.
You don't want to set your price too low or too high and setting too low a price means you could miss out on thousands of dollars that some buyer would have paid.
Setting too high a price can scare away willing buyers and leave your home on the market for too long. When you lower the price, people may assume you are under pressure to sell, and lower their offers even further.
Our REALTORS® calculate your home's value within your market using the background information available to them through a real estate Board's MLS® System, they can compare your home to similar homes that have recently been sold in your area. No two homes are the same, but our associates are very good at interpreting the data to come up with fair market value.
Preparing your home for sale
Yes, first impressions matter and our associates can offer tips on how to present your home the best.
- See your home through a buyer's eyes.
- Get rid of clutter, and your house will feel a lot bigger and more inviting.
- Clean everything, cleaning is the single most cost effective way to make your home more attractive to buyers.
- Repair as much as you can, within reason, some repairs are absolutely vital, like a leaky roof and unsafe electrical problems. Otherwise, fix all the little things like leaky faucets, doors that squeak, and small cracks in the ceiling.
- Depersonalize your home, you want buyers to walk through your house and feel like it could be their home.
- Consider repainting some of your home in neutral colours that will enhance a room's size and look more inviting.
- On the outside of your home trim the trees, weed the garden and consider planting a few new flowers to make a great first impression.
The offer process
Our job is to get offers for you to review, we are sure your hard work will pay off, but you won't know exactly how much it's paid off until you see the offer. This is an exciting, often emotional time, so be prepared. Your MaxWell REALTOR® will walk you through the process and present you every offer that's submitted. Discuss the offer with your REALTOR® and get advice on the merits of the offer.
Finishing the Sale
When selling, it's essential to have a lawyer handle all the various legal documents that change hands. On closing day, your lawyer will receive and distribute the proceeds from the sale, pay off your mortgage and other costs, and give you a cheque for the net proceeds.
We assist with this important aspect of the sale as well by monitoring all the details right to closing day.
Why not have all your questions answered by a MaxWell REALTOR who specializies in your local area? Just fill out this form to request this valuable, no obligation services. There is no cost and your contact information is always kept confidential.