Selling

Once you have made the decision to sell your home, there are some important things that you need to consider with the help of your representative:

• The market conditions – The real estate market  is always changing and it is important to understand how the current conditions will affect your position as a seller.
• What the market value of your home is – This is influenced by market conditions, location, size, style, condition, amenities and financing options.
• What a realistic selling price would be – Homes that are priced right sell faster and can generate higher, competing offers.

The Selling Process:

Here is a summary of the selling process:

1. The Offer
   This will be influenced by the market conditions and the buyer but is usually different from the asking price.
2. The Deposit
   Once an offer has been accepted, the buyer will place a deposit on the property. This deposit will be applied against the purchase price when the sale closes.
3. The Terms
   This includes the total price the buyer is offering and the financing details.
4. The Conditions
   This is a series of requirements that must be fulfilled prior to closing. The sale may be subject to such things as a home inspection, the sale of the purchaser’s property and/or the buyer obtaining financing.
5. The Inclusions and Exclusions
   This is a list of furnishes, appliances, decorative items, fixtures, etc. that are being included or excluded from the sale.
6. The Closing and Possession Dates
   In general, the closing date is the day that the seller will receive the funds and the title will be transferred to the buyer. In BC, the possession date is usually 1 to 3 days after the closing date.