Preparing to Sell Checklist
Selling a home isn’t quite as simple as sticking up a ‘for sale’ sign and waiting for the buyers to come to you. Here is a quick overview of the various steps involved in selling a property.
1. Decide to sell.
Consider what is happening in the broader market and what is best for your particular situation. Also decide if you are better off buying a new home before or after you sell your current home.
2. Choose an agent.
Your agent will be in charge of advertising, showing and completing the legal requirements of selling your property, so choose carefully.
3. Decide how you want to sell.
You and your agent will work out a plan for listing, showing and selling your property.
4. Determine your selling price and property inclusions come next.
Your property’s location, size, age and features will be assessed, as will the current market and area trends.
5. Sign an agreement with your age This legally binding contract will detail any commissions, the estimated sale price, duration of the agreement, advertising costs, process and much more.
6. Complete the “Residential Property and Owners’ Association Disclosure Statement” for your property. These will include all of the details prospective purchasers will need.
7. Complete the “Mineral and Oil and Gas Rights Mandatory Disclosure Statement” for your property
8. Advertise and show your property.
This involves photographing your property, drawing up floor plans and writing your online ads.
9. Go on the market.
Prospective buyers will contact your agent and arrange times to view your property, or attend your open homes.
10. Sale and negotiation.
Your agent will mediate between you and buyers to reach a mutually acceptable price. The buyer will then pay a deposit.
11. Under contract.
Both seller and buyer’s lawyers and banks will work out the details of the sale to ensure both parties meet all legal and financial requirements.
12. Settlement day.
All going to plan, you’ll relinquish the keys and legal rights to your property in exchange for the balance of payment from the buyer or their bank.
Congratulations, you have sold your home!