Cora Shields - Royal LePage Realty North Inc. Brokerage

SELLING A HOME

Buying and Selling a Home are often major decisions in your life. Particularly selling. Your home is probably your largest asset, and the sale should be properly planned to maximize your profits and your peace of mind!

As your real estate professional, I can prepare a personalized plan to market your property.

Your property will be aggressively marketed through advertising publications and our Internet site, other Real Estate Professionals, the MLS information library (Unless it is an exclusive listing) and mailings to potential buyers in your area.

The single most important decision you will make with

your Real Estate Professional is determining the right

asking price for your property.

The Benefits of pricing right:

	Your property will sell faster because it is more exposed to qualified buyers
	Your home doesn't lose its "marketability"
	The closer to market value, the higher the offers
	A well priced property can generate competing offers
	Real Estate Professionals will be enthusiastic about presenting your property to prospective buyers

	The price you pay for your house has a lot to do with your income and your debt load. As a rule of thumb, most buyers can purchase a home between 1 ½ to 2½ times their annual income. This will of course depend on the market prices in the area in which you are interested. In general, your monthly mortgage payment should not exceed 28% -30% of your gross monthly income.

	There are several reasons why people overprice their property: - Extensive renovations/hidden costs - Desire to purchase in a higher-priced area - Original price paid for home was too high - Lack of real marketing information - Trying to build in room to "bargain" - Perceived emotional value

Many home sellers believe that if they set the price of their property higher at the beginning, they can lower it later. Unfortunately, when a property is set too high, it often experiences little activity. Eventually the price will come down to market value but by that time it's been on the market too long. The price may even have to be dropped to below market value because the seller runs out of time and the result is that the property result is that the property sells for less than it is worth. You may think that the right buyer can always "make an offer" but if the home is overpriced, potential buyers looking in a lower price range will never see it.
	The first formal step in marketing your property is to enter into a Listing Agreement - a contract that commits your real estate company to actively market your home for a specified period of time and you to a pre-established marketing fee that is to be paid on the successful closing of the sale. We may require the following documents: Plan of Survey or Location Certificate, Property Tax Receipts, Mortgage Verification, Deed or Title Search, or other documentation.

	There are several steps that lead to the sale of your property: Offer, Deposit, Terms, Conditions, Inclusions and Exclusions and finally the Closing.
The Offer: depends on the market and the buyer but usually is different from the asking price. The deposit shows the buyer's good faith and will be applied towards the purchase price when the sale closes. The terms of the offer includes the total price as well as financing details. The buyer may be arranging his/her own financing or may ask to assume your existing mortgage if you have an attractive rate. The conditions of the sale can include "subject to home inspection", "subject to buyer obtaining financing", or "subject to the sale of the purchaser's property", etc. Exclusions and inclusions may include certain appliances, fixtures, or decorative items, such as drapes, etc. Closing or Possession Date is the day the title is transferred to the buyer and the seller receives funds, unless otherwise specified. I can help make the sale of your home a less stressful and more pleasant experience for you and your family.