Selling a home in Calgary?

WE’VE PREPARED A HOME SELLER’S GUIDE FOR YOU

Your home is likely the biggest most valuable asset you own. It represents a huge investment  and as they say … “ownership creates stability”.

Selling your home isn’t a step to take lightly, and it can be a time-consuming and stressful process. The YYC Club has prepared a guide to selling your home that can show you what to expect when you sell, whether you’re downsizing or preparing for a larger family…so get informed and #Join the club!

VIEW GUIDE
home sellers guide calgary real estate

Deciding To Sell

Time to Sell?

So you have decided to sell your property. Before anything else, it is a good idea to sit down and clarify your motivations and draw up a basic time frame for the selling process.

Why Sell?

Why do you want to sell your property? Do you intend to simply find a larger property, or do you plan on moving to another neighborhood, school district, city, or province? You might think your reasons are obvious, but it would do you well to consider the implications of each option for your lifestyle, opportunities & finances. Being clear about your intentions for selling will make it easier for us to determine the most appropriate option for your specified financial, lifestyle, and real estate goals.

When Should I Sell?

You should immediately establish your time frame for selling. If you need to sell quickly, we can speed up the process by giving you a complete market analysis and action plan to obtain your goals. If there is no pressing need to sell immediately, you can sit down with one of our experienced YYC members to thoroughly review the current market conditions and organize the most favorable options for a successful sale.

What is The Market Like?

When you work with the YYC Club, you can be sure that you will have our knowledge, expertise and negotiating skills at work for you to arrive at the best market prices and terms. We will keep you up-to-date on what is happening in the marketplace and the price, financing, terms and conditions of competing properties. With us, you will know exactly how to price and when to sell your property.

How Do I Optimize My Finances?

Deciding to sell your property demands serious consideration of your current financial situation and future possibilities. With the help of a YYC agent, you will be able to effectively assess the cumulative impact of these changes & estimate the potential proceeds of selling your property. We will ensure that you not only take control of your finances, but use them to their fullest potential.

Why Should You Choose a YYC Club Professional?

You may opt to sell your property independently, but there are many excellent reasons why you should choose the YYC Club to assist you in this important step in your life. Selling your home is one of the most important decisions you will make, it will affect your family, your finances and your lifestyle. For such a large decision you deserve the best! Our YYC Club’s full service, client –focused approach to real estate puts people first. Remember, we’ve done this before! Our experienced team will employ the most effective marketing and advertising strategies for your property and guide you through the complicated paperwork in involved, from the initial agreement to the final documents.

Finding a REALTOR®

What to Look For In A REALTOR®

The following are some factors to keep in mind when looking for a listing agent:

  • Constant Learning
    One of the most important factors in choosing a real estate professional is their willingness to continually educate themselves about the ever-changing real estate industry. Our YYC Club professionals are continuously updating their training and education, allowing them to be among the most cutting-edge in their field.
  • Experience and Expertise
    You want a full-time REALTOR® who is familiar with your area and with the type of property you intend to sell. Does he or she employ a diverse range of marketing and advertising strategies? How tech-savvy are they? How many similar properties has he or she been able to sell in the past? Let our expertise work towards the stress-free sale of your home.
  • Availability and Commitment
    Your agent should be capable of prompt and decisive action during the course of selling your property. They should be able to keep in touch with you via phone, email, text message, etc and should be readily available in case of emergencies or even for the simplest questions.Our Team is always available for you during the home selling process to address any questions or concerns that you may have. We have a team of agents and employees all working towards selling your home! We communicate with our clients through text, email, over the phone and in person. We will communicate with you in whichever way you are most comfortable!
  • Rapport
    You want an agent to take the time to listen to your goals and clarify your needs. Your agent should understand your unique situation and be genuinely concerned about the outcome of the process. Your listing agent will be your guide and partner in this crucial decision, so it is important to find one with whom you are comfortable, can get along with and trust.
finding-a-realtor

Property Value

What is Your Property Worth?

Without a professional YYC Club member’s expertise, most independent property sellers tend to overestimate the value of their property. There are dangers to overestimating your properties value that may cause your property to sit on the market for a longer period of time and could eventually cause your property to sell below market value!

  • Fewer buyers are attracted and fewer offers are received, if any.
  • Marketing momentum from the initial listing is lost.
  • The property attracts ‘lookers’ and helps competing houses look better by comparison.

You can avoid these pitfalls by consulting with an experienced real estate listing agent. The YYC Club believe’s that every home sale should be handled with the utmost responsibility and care.

We believe that the selling process should be exciting, comfortable, informative and stress-free. We are committed to a consultative approach to selling your home so you can make informed decisions regarding the sale of your home

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Preparing To Sell

Preparing Your Home For Sale

When preparing your home to sell there are a lot of things that you can do to increase the appeal of your property and create a lasting impact on potential buyers. And most of them don’t cost any extra money!

What to Do To Prepare

Below are some key factors to keep in mind when listing your property for sale:

Keeping your landscape pristine, and adding creative touches to your yard (such as flowers & hanging baskets), and doing a simple clean-up such as: cutting the lawn, removing stored debris and putting away garbage & recycling bins, can create an immediate impact on passers-by and potential buyers.

Perform minor repairs & updates as needed, simple things such as repairing nail holes, and or putting a fresh coat of paint in the most frequently used rooms will instantly brighten up the property.

We can’t stress this enough: Keep your property uncluttered, sweet-smelling and well-lit from top to bottom.

Pay attention to details: put away kitty litter, place a vase of fresh flowers near the entryway, pop a batch of cookies in the oven, have your carpets cleaned.

If you list with the YYC Club, you’ll receive a complimentary staging consultation, where our stager will give you some pointers on how to de-clutter and improve the staging of your property, so that it appeals to the widest audience of buyers.

Ensuring that your home is ‘Showing Ready’ is something that you’ll need to keep in mind once your home is on the market as you never know when a new Buyer might want to book a showing! So it’s best to always be ready! There are a few basic things that you can do to ensure your home is always ready for showings:

  • Neat and Tidy:
    Make sure that the home is tidy and uncluttered, that means toothbrushes put away, no dishes in the sink, coats in the closet, etc.
  • Temperature:
    Make sure your home is set to a comfortable temperature; not too cold in the summer or too warm in the winter.
  • Lighting:
    Proper lighting always helps to show your tidy home in the ‘best light’. That means turning on all the lights at night or opening all curtains and blinds during the day. Turning the fireplace on in the winter is also a nice touch!
  • Stay Out of the Way:
    The last, and arguably most important rule of thumb when it comes to showings, is to make sure that you leave the property whenever showing are scheduled. Don’t sit outside the home in your car, or watch from the park across the street. Having the home owner present during showings can put buyers on edge and taint the whole viewing experience. Also buyers feel more comfortable discussing the property with their showing agent, if you are not there.

The Price is Not Always Right

“The higher the price, the better the offer” Do not let yourself be fooled by this popular misconception. Price is not always the determining factor when accepting an offer for several important reasons: the initial offer is usually not final, and there are a number of terms and conditions that may influence the final outcome of a price.

Negotiating the Right Way

We take the ethical responsibility of fairly negotiating contractual terms very seriously. It is our job to find a win-win agreement that is beneficial to all parties involved, and we will guarantee a thorough and objective assessment of each offer to help you make the right choice.

Accepting an Offer

The negotiating process is crucial. Having an experienced professional in your corner can pay off in terms of getting you a higher final price for your home, as well as in negotiating favorable contract conditions. Read on for more information on the offer process.

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The Offer Process

Receiving An Offer

Once a buyer decides that your home is the right one for them, they will put in an offer. At this point your REALTOR® will discuss with you the terms of the offer and advise you on what to do next, based on your situation and needs. You may even receive several offers at once; in this situation your REALTOR® will guide and advise you but it is ultimately your decision when determining which offer you’d like to work with.

Once an Offer to Purchase has been accepted, the agreement enters the conditional period. Now is the time when all of those conditions laid out in the contract must be fulfilled in order for the deal to go forward. Once all conditions are filled, the deal is said to be firm.

Once the offer is accepted the conditional period begins. All of the conditions in the offer must be met before it can become firm and the deal finalized. Most offers contain the following conditions:

Mortgage approval for the purchase will need to be obtained by the buyers for this condition to be met.

Expect an appraiser from the lender’s company to review your property and verify that the sales price is appropriate.

A professional home inspector will thoroughly check the home and let the buyers know if there is anything to be concerned about. The inspection will be scheduled by the buyer’s agent.

Buyers who are obtaining a mortgage, are often required by their lender to purchase insurance on the property.

If your buyers are purchasing a property and still need to sell their current property they might make this condition part of their offer. Your agent will guide you and help you decide whether to accept an offer with this condition or not, and what type of timeline you will allow if you do accept it.

Depending on the outcome of the inspections, one of two things may happen:

  1. Either each condition is successfully met and then removed, bringing you one step closer to the closing;
    or
  2. The buyer, after reviewing the property and the papers, requests a withdrawal of the offer or a renegotiation of the terms of the contract (usually price).

How do you respond objectively and fairly to the buyer when a renegotiation is demanded, while acting in your best interests?

Having a YYC Club agent behind you can make a real difference in the outcome of the transaction.

Having dealt with various property sales in the past, we guarantee our expertise and total commitment to every customer, no matter what their situation is. When all of the negotiations have concluded, conditions have been met and the appropriate paperwork is signed and submitted the offer is considered firm.

A Firm Offer

Now that all of the conditions have been met the offer is firm, congratulations you just sold your house! All that’s left to do is to get ready to move on closing day.

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The Process, Step-by-Step

The deposit is usually delivered to the listing brokerage upon acceptance of the offer. The deposit will be held in trust until closing and then applied to your purchase price. For example if the purchase price is $410,000 and the deposit is $5,000 then $405,000 will be owed at closing.

Once your offer is accepted the conditional period begins. All of the conditions in your offer must be met before it can become firm and the deal finalized. Most offers contain the following conditions:

  • Finance – Mortgage approval for the purchase will need to be obtained to meet this condition. We would be happy to recommend an experienced mortgage specialist.
  • Appraisals – Sometimes mortgage providers will order an appraisal on the home to make sure that the home is worth what they are lending you to purchase it. If an appraisal is required it will be scheduled by your mortgage provider.
  • Inspection – A professional home inspector will thoroughly check the home and let you know if there is anything you should be concerned about. We can recommend an experienced home inspector for you.
  • Insurance – If you are obtaining a mortgage, you will be required by your lender to purchase insurance on the property. You may be able to save money on homeowners insurance by shopping around for insurance.

And sometimes …

Sale of Purchasers Property or SPP

  •  If you are purchasing a property and still need to sell your current property you might make this condition part of your offer. The YYC Club can  guide you on whether to include this condition in your offer or not.

When all of the conditions have been met and the appropriate paperwork is signed and submitted the offer is considered firm.

Conditions, Inspections & Appraisals

An experienced group like the YYC Club will add tremendous value during the home search, the drafting of the contract, negotiations and closing of the purchase.

Now that all of the conditions have been met and your offer is firm, congratulations you just bought a new home! All that’s left to do is to get ready to move in on closing day.

It’s almost time to sit back and relax in your new home! But there are still a few things you need to think about. The final section of our Home Buyer’s Guide focuses on packing to move as well as switching over utilities, changing your address, and preparing for your closing.

Once the offer is firm and both parties have signed off on it, it’s a good idea to start looking at movers. The YYC Club has several moving companies our clients have dealt with and can recommend to you.

If you opt to pack and move yourself then it’s a great time to start collecting boxes and get to packing!

You should also start contacting utility companies and government bodies to let them know about your new address. Once your offer becomes firm the YYC Club will send you a closing package which includes a checklist of everywhere you should call to change your address.

We will also provide you a list of useful numbers for the activation of home services and utilities in your new home.

The YYC Club is here to assist you should an unforeseen glitch pop up, even at this last stage. Something at the property breaks down, or some other minor detail – no need to worry. We have encountered these problems before so we know how to handle them efficiently and in a timely manner.

The biggest misconception when it comes to closing is that come closing the new owners get the keys right away and can start moving in, although this would be ideal it’s simply not the way things work.

In order for the keys to be passed from the seller to the buyer you have to wait for the title to be transferred. The title transfer is handled by your lawyer, who is the buyer’s biggest ally come closing day. Your lawyer will notify the YYC Club after the title has transferred and allow the keys to be handed over. This generally happens between 10:00am and 5:00 PM.

If possible we recommend scheduling movers in the afternoon or the day after closing – this way you avoid paying movers to sit around while you`re waiting for the keys.

Once you do get possession of your new home it’s a good idea to do a quick check of the house to make sure everything is as you agreed i.e. appliances are in good working order, if something isn’t right contact your lawyer right away.

home-buying-proces

Closing Day!

Closing

You’ve come a long way, through a lot of hard work and negotiations, and the sale of your home is in sight! There are just a few more things to take care of.

Final Walk-Through

More of a formality than anything else, the final inspection usually takes place the day before or on closing day. The buyer visits the property to verify that all is in working order & that everything is the same as when the buyer last viewed the property.

Cancel Home Services and Utilities

We will provide you with a list of useful numbers for you to contact for the termination of home services & utilities before closing day.

Be Prepared

We are ready to assist you should an unforeseen glitch pop up, even at this last stage. If something at the property breaks down, or some other minor issue arises – there is no need to worry! We have encountered these problems before so we know how to handle them efficiently and in a stress-free manor.

The biggest misconception when it comes to closing is that come closing the new owners get the keys right away and can start moving in, although this would be ideal it’s simply not the way things work.

In order for the keys to be passed from the seller to the buyer you have to wait for the title to be transferred. The title transfer is handled by your lawyer, who is your biggest ally come closing day. Your lawyer will notify you after the title has transferred. This generally happens between 1:00 and 5:00 PM.

closing-day

Closing Day – What to Expect?

What a lot of people aren’t aware of is that as soon as the title has transferred, legally the house is no longer yours and you must vacate the premises. Because you can never be sure what time the title will transfer we recommend, if possible, to try and have everything packed and out of the house the day before closing or the morning of. This will just help to keep closing day as stress-free as possible.

Once the title has officially transferred, it’s time to celebrate; your house has officially sold and you can move on to your next stage in the property ladder!

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