Durham Real Estate - For Sellers
Selling Your Home in Durham
There are a million different reasons
why people sell their homes, but every seller has one thing in common:
the desire to get as much money as possible from their existing
residence as quickly and as hassle-free as possible. (If your home
is your principal residence, you won't have to pay capital gains
tax on any profits from the sale. If, on the other hand, it is an
investment property, prepare for the tax man!)
Before you begin the selling process, really evaluate why you're
moving. Do you have too few rooms, or too many? Has your job moved
to another city and you're relocating? Are the neighbours driving
you away? Or are you simply looking for a change? A complete analysis
of your current position will set a good foundation for your next
home hunt.
Buy or Sell First?
Buy or sell first? That's tricky.
After all, if you find a purchaser for your existing home, before
you've found a new one, you may find yourself living out of a
suitcase if convenient closing dates can not be negotiated. On
the other hand, if you find your dream home before you've unloaded
your old one, you may be faced with carrying two mortgages for
a time.
So how do you manage? Easy. Do your homework and have a good idea
about the neighbourhood and type of home you're looking for. Do
an honest evaluation of your family's needs and budget.
Speak to your RE/MAX agent and start your new home search as soon
as your existing home hits the market.
If you've found a home, before you've sold your existing one,
use "sale of your existing home" as a condition on your offer.
If you don't sell your house within a fixed period of time, you
can choose not to go through with the offer. This, however, is
a difficult condition for many vendors to agree upon and you may
find that you have to forgo your price negotiating power.
Purchasing a home before you sell could be a risky strategy if
you're counting on the proceeds from the sale.
If you've found a purchaser before you've found your next home,
use "purchase of a new home" as a condition when you sign back
the agreement. Again, it will only be for a fixed time. Even if
you have not found the ideal next house by the time the deal closes,
you may still wish to proceed with the offer. As a buyer with
a "sold house" you will be in a better position to negotiate price.
Make Your House More Sellable
While we all believe that our home
is our castle, our personal tastes may not appeal to everyone.
Your RE/MAX agent will work with you to give you an impartial
analysis of your home - how it relates to other "competing" homes
on the market and how your home reflects current design and style
trends. Your agent will also take a good look at the general condition
and upkeep of your dwelling.
Overall, your RE/MAX agent will work with you to position your
home on the market so that your sales experience will take place
as expeditiously as possible.
Advertise Your Home on MLS
This service is only available to
real estate agents. It is a database of all the homes for sale
through agents. Details about your home will be available to other
agents searching for homes in your area, in the range of your
asking price.
Arrange Showings
In addition to giving your home the
once over with a mop and dust cloth, have your agent prepare a
home feature sheet. This is a one page synopsis of your home that
highlights lot size, room dimensions, features and upgrades as
well as utility costs and taxes. Prospective buyers will take
a sheet and refer to it while viewing your home. Plus, it makes
for a great reference sheet when the buyers are comparing properties.
The Open House: This is usually not a pleasant experience. The
upside is that you usually won't have to be there to act as a
guide. The downside is that you might have a series of open houses
over a few weeks, with people poking through all areas of your
home. And you'll have the constant pressure of keeping your home
looking its best.
The Viewing: When an agent has a client who is interested in your
home, they will first call to make an appointment with your RE/MAX
agent. If you're lucky, you'll have time for the last-minute tidying.
Of course, you can say no if the prospective purchaser wishes
to come at an inconvenient time.
During the viewing, make sure you give the viewer and the agent
a feature sheet and get the agent's business card. Give viewers
the freedom to wander around your home by themselves. Following
may make them uncomfortable. The agent will stay with the prospects
to offer some protection against theft or property damage.
