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Selling a property

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

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. Once you’ve done this, it’s time to…..

Choose the right agent…US!

When you work with us, 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. Don’t just go with someone who tells you they can sell for the highest price; promises, promises. We will keep you up-to-date on what is happening in the marketplace. With us, you will know exactly how to price and when to sell your property.

What Is Your Property Worth?

Without a professional agent, most independent property sellers tend to overestimate the value of their property. You can avoid this pitfall by consulting with an experienced real estate listing agent. It’s important to price your home accurately from the start. Avoid pricing too high as this could only lead buyers to look elsewhere. If your home stays on the market for a long time, you may have to significantly lower the list price which could make buyers question its desirability.

We can help you come up with the right price through an appraisal process that includes reviewing recent similar sales in your area, as well as industry trends and standards.

 

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. You can trust our professionals to help you thoroughly evaluate every proposal without compromising your marketing position.

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. You may even have to deal with multiple offers before ratifying the one you judge to be the most suitable for you – and as your agents, we will guarantee a thorough and objective assessment of each offer to help you make the right choice.

Inspections and Appraisals

Most buyers will have the property inspected by a licensed property inspector within the time frame that was agreed upon in the purchase and sale agreement. Some buyers will have several different inspectors inspect the property if they wish to obtain professional opinions from inspectors who specialize in a specific area (eg. roof, HVAC, structure). If the agreement is conditional upon financing, then the property will be appraised by a licensed appraiser to determine the value of the lending institution via the third party. This is done so that the lending institution can confirm their investment in your property is accurate. A buyer of a commercial property may also have a complete environmental audit performed and/or soil test if required by the lending institution.

Conditions

A condition is a contingency that must be met before a contract becomes legally binding. For instance, a buyer will usually include a condition stating that their contract is binding only when there is a satisfactory home inspection report from a qualified inspector.

Before completing his or her purchase of your property, the buyer goes over every aspect of the property, as provided for by purchase agreements and any applicable addendums. These include:

  • Obtaining financing and insurance;
  • Reviewing all pertinent documents, such as preliminary title reports and disclosure documents; and
  • Inspecting the property. The buyer has the right to determine the condition of your property by subjecting it to a wide range of inspections, such as roof, termite/pest, chimney/fireplace, property boundary survey, well, septic, pool/spa, arborist, mold, lead based paint, HVAC, etc.

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

  • Either each milestone is successfully completed and the conditions will be removed, bringing you one step closer to the closing; or
  • The buyer, after reviewing the property and the papers, requests a renegotiation of the terms of the contract (usually the price).

How do you respond objectively and fairly to the buyer when a renegotiation is demanded while acting in your best interests? This is when a professional listing agent 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.

Final Walk-Through Inspection

More of a formality than anything else, the final inspection takes place the day before, or the day of the closing. The buyer visits the property to verify that all is in working order, everything is the same as when the buyer last viewed the property, and that there are no extra items left behind. Assuming there are no issues, when the closing inspection is complete, the buyers will instruct their lawyer to proceed to close. Once the funds are transferred and the title is registered, the buyer will be given the keys to the home.

Prepare To Sell

You can do a lot to increase the appeal of your property and to create a lasting impact on potential buyers.

While you don’t necessarily want to do a major, expensive renovation project before you sell, you can make minor repairs and improvements that will make your home look fresher to buyers. We provide the services of a professional home stager who will visit your home and provide some suggestions to help get your home market-ready.

Start Packing

It may sound crazy to start packing months in advance of your move, but since you’ll eventually need to do this anyway, you might as well get organized now. We’re not suggesting you pack up your kitchen and eat off paper plates, but you can sort through your storage closets, attic, basement or garage to determine what you want to keep, what to give away and what to sell. Boxing up items will make your space look larger and neater when it’s time to show your home.

Clear Away the Clutter

If you visit model homes or open houses of homes that have been staged, you’ll never see a stack of unread magazines, children’s artwork loosely hanging on the refrigerator, or a cluster of unpaid bills on a table. While everyone has clutter, buyers want to see a fantasy version of your house, in which they can envision living. Once your home is on the market you’ll need to keep it as neat as possible. One way to make that easier is to reduce the amount of clutter you have on your shelves and surfaces.

Showtime

Did you know the first showing of any home takes place online? If potential purchasers don’t like your pictures, they won’t make an appointment for the second showing, a personal visit to your home. For this reason, once your home is cleaned, staged and market ready, we engage the services of a professional photographer to provide pictures of your property. Presenting your property to potential buyers is a job that we will take care of for you. Buyers feel more comfortable discussing the property with the agent if you are not there. Moreover, your agent will know what information will be most useful in representing your interests when speaking with prospective buyers.

Get in Touch

Contact us at River Island Realty about your buying or selling needs in the Fredericton and surrounding area.