The following is a work in progress. It is being developed between taking care of clients! You'll find some helpful information here to be aware of (and Checklists are coming) to make it easier for you to be prepared.
Price it Right
What if I price my property too low? Wouldn't I be leaving money on the table? What if I price it too high? Would I be losing out on potential buyers not noticing or ignoring my property? How does my property's tax assessment figure into my pricing my property just right?
These are all very relevant and important questions to consider in order to have a successful happy sale...
That's where professional guidance from Lee comes in.
Where your Tax Assessment Value is concerned, bear in mind this determines a property's value for taxation purposes only. It is not an indication of what a property will actually sell for. However, the BC Assessment Authority has some valuable information to offer on their new website. Here's a link to the BC Assessment websiteso that you can explore and see examples of recent sales in your neighbourhood of interest.
Getting Ready to Move
It can feel overwhelming to prepare for a move and every move is unique because of all the variables that play a part in the event. However, it helps to have a checklist to refer to when preparing for the move. Preparing for a move has two primary parts to it: the timeframe prior to a sale and directly after the sale. Lets address each part separately and refer to their individual checklists:
Prior to a sale - preparing for viewing:
So now that you have your property listed for sale, what's next? If you haven't already decluttered and cleaned your home up for this grand moment, now is a good time to start. Properties displayed in a clean and uncluttered manner show potential buyers that this homeowner cares about the home and has most likely kept it up when it comes to repairs and maintenance. No one wants to buy problems and a clean-up project! Keeping your home ready and available to show on even short notice is a great opportunity to have a successful sale. When a buyer is faced with a choice to make between two properties and everything about them appears equal in terms of features and location,etc. the decision can come down simply to how the property is presented an displayed. The one that is immaculately maintained and has a cared-for look about it will almost always trump a tired, rundown and poorly presented property. Unless the buyer is bargain hunting for a fixer-upper and can see through a poorly maintained property's presentation, you may lose a potential sale. In addition, a poorly presented property may attract either no offers or a couple of low offers, rather than strong, and acceptable interest from multiple buyers. There are several sources of ideas out there in cyberspace on how to declutter,depersonalize (limit or remove family photos,momentos,etc.), clean and show your home to its best advantage.
Checklist to follow...
After the sale - preparing to move on:
Getting yourself into the mindset of actually moving on is important. It sets the tone for you to have a successful sale. This doesn't mean that you let your existing property sink into decay and neglect keeping it in showing condition for a prompt sale. It simply sets you on a course to move on to your new life situation and release some of the attachment you have to your present property. Notice that I have been saying "property" here, and not "home". That is significant, because keeping the mindset that this is your home has that emotional connection associated with a home attached to it, keeping you attached to the property you are trying to let go of. So, let it go. Yes, you probably have many fond memories, perhaps raised your family in the home,etc. But when you have made a decision to change your life and move, change your emotional mindset regarding your "property". This will help free it up for a new person to envision it as their new "home". I have worked with sellers on this simple change and it not only helps them to envision their new life and move forward, it sets the stage for things to happen and prompt a sale. Get ready to move forward and plan your new adventure!
Taking the time to become familiar with what you really want, along with what you believe you need, can help you find a good match in the present real estate market. It is kind of like dating yourself. When you are thoughtful and caring about your process you are bound to find a good match within your price range. Having a caring Realtor in your corner who is available, receptive, and who considers your individual interests within the ever-changing market place puts you at an advantage. Lee can help you refine your search making the process efficient, fun and rewarding. Lee is able to do this effectively while working with you and utilizing his MLS search refinement tools. These tools record what you select as being appealing and important features and lets Lee know immediately when a suitable property becomes available on the market. He becomes attuned to what is capturing your interest and will watch for what's coming available on the market and even make enquiries on your behalf with potential sellers.
Many people are very aware of the potential to offend a seller by making an offer that is lower than the list price.
This is another area where a Realtor like Lee can demonstrate their value; that is by being a "go-between" and using his negotiating skills to get the best price possible for your home. As they say, "knowledge is power".
Still ultimately it is you who decides on what the offer price will be, or what is an acceptable purchase price-not the realtor. They go in with your offer and negotiate on your behalf.
Here are some considerations for when you are coming up with the initial offer and possible counter offers.
Receiving Offers Many "For Sale By Owners" lose out on sales because some of their potential buyers would rather pass up on a property than to get personally in making an offer. Other buyers prefer to have a professional real estate agent negotiate and present an offer on their behalf. It's worth it to them to have the intermediary in the transaction, with negotiating and contract drafting skills they do not possess.
Then there are the folks who love to bargain and play the duelling game. This is likely why statistics show many "For Sale By Owners" actually end up selling below their home's true market value. They are an easy mark for those shrewd investors, looking to take advantage of the seller's lack of knowledge and negotiating skills and buy a property for a bargain price.
Preparing to receive offers on your home requires preparation both emotionally and intellectually. Depending on your personal situation, you will likely have some emotions and feelings come up for you as you get closer to a sale actually becoming a reality. You will also want to have worked out your numbers and consider the costs associated with the final sale. Consideration has to be given to what the situation is that you are moving to and when you need to get there - and how much is it worth to you to get on with your life and plans. Here is a list of things to consider when deciding on how to receive an offer. …
In addition to utilizing conventional financing options through the customary bank and credit union channels, many consumers are now exploring other options such as mortgage brokers and even life insurance companies. While there are several independent companies with mortgage brokers acting on their behalf in the marketplace, now the large banks also employ staff who act as mortgage brokers. The advantage of a mortgage broker lies in their ability to "shop the market" and survey several financial institutions for the best rates and terms for you in your quest to obtain a mortgage. In certain situations it may even be beneficial for a purchaser to finance their purchase through the property seller. This is known as vendor financing.
It is a good idea to research your options for financing a property purchase in advance of actually finding and writing an offer on a property. Obtaining a pre-approval from the lending institution of your choice will accomplish a few things: First of all, you will know what the maximum amount that you can afford to spend when shopping for your new home. (Don't forget those renovations or upgrades that you may plan on undertaking after the purchase-these can really add up.) Secondly, you can focus. There's no need to waste your time (or your Realtor's time !) looking at properties that you simply cannot afford. Thirdly, this gives your Realtor a helping hand when it comes time to negotiate a purchase on your behalf. He/she will be able to demonstrate your ability to make the purchase actually happen when negotiating with the sellers' agent, giving both parties to the transaction additional confidence that a deal can be reached. So,there are many choices for you to explore on the subject of financing options out there on the world wide web and in your own backyard. You can start at the place you presently bank, surf mortgage brokers' sites, talk with friends and family about there experiences, and take it from there. The best plan is to do your homework in advance of making a purchase and feel secure in your ability make your dream a reality.