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A First Time Home Seller’s Checklist: 12 Things to Discuss with Your Agent
If you are downsizing to a smaller home or selling your first home in Erin, Ontario for cash in this unstable housing market, there are many things you need to discuss with your agent. These 12 topics should be covered in detail before putting your home on the open market.
Price: You’ll want to set a price that will net you the most amount of money after commissions and other fees are paid. But don’t go too high or your home may sit on the market for months.
Staging: If you haven’t already done so, consider hiring a professional stager to help make your home look its best. It can be worth the investment, as potential buyers will be more likely to make an offer if they feel like they can see themselves living in the space.
Pets: If you have pets, it is important to let your agent know what kind of animals you have and whether or not they are potty-trained. This information could affect how potential buyers view your home.
Repairs: It is a good idea to have a list of any repairs your home needs, so you can get estimates from contractors if necessary. This way, you can be sure that you are not leaving anything undone that could potentially affect the sale price.
Closing Costs: There are many expenses associated with buying and selling a home. Make sure you know what to expect ahead of time in terms of closing costs. This will help you budget for the entire process.
Commission: Be sure to discuss commission rates with your agent upfront. This will avoid any misunderstandings down the road about who is responsible for which fees.
Marketing: Ask your agent how they plan on marketing your home. Will they be using print ads, or will they opt for social media instead? Will your home be listed on a dedicated website?
Open Houses: Discuss what time of day the first open houses will take place and whether more than one date/time slot has been scheduled for this purpose. Open houses are great because many buyers see homes during these events – but only if they happen to be looking at the same time as someone who’s interested in your home.
Prorated Taxes: It may be possible for first-time sellers to pay prorated taxes up until closing day; however, this depends on where you live and how much time is left after signing before year-end. Be sure to ask what kind of timeline applies (if applicable) when discussing these matters with potential buyers or agents.
Contracts: If you are selling with an agent, they will most likely have their own standard contract that you can use. Be sure to ask about this upfront so there aren’t any surprises when it comes time to sign the paperwork.
Number of Offers: It is important for first-time sellers to understand how many offers may be on your home before making a decision. A good real estate professional should be able to provide guidance in terms of what is normal for homes similar in size and location as yours. This way, if several offers come in at once, you will know whether it is better just for one or all parties involved – including yourself! You do not want things getting out of control by accepting multiple contracts unless you are absolutely sure you can follow through.
Title Search: A title search is a process where the homeowner (or their agent) requests an examination of public records to ensure that there are no outstanding liens or other legal issues with the property. This is something your agent should do on your behalf, but it is always good to be aware of what is involved in the process just in case.
These are some things first time home sellers should discuss with their agents before putting their homes on the market. By taking care of these items ahead of time, both parties will have a smoother selling experience.
If you are not already working with an agent and would like help finding one in Erin, Ontario, please feel free to reach out. I am happy to answer any questions you may have about first time home sellers or the process in general.