Resources for Sellers
(click the questions to see the answers)
How do you get the most out of the sale of your home?
Home staging is the design process of de-personalizing a private residence prior to putting it up for sale in the real estate marketplace. This is often achieved by re-arranging, de-cluttering and improving on certain items.
The goal of staging a home is to help it sell quickly and for the most amount of money by appealing to the largest amount of prospective buyers. . Staging creates a living space buyers can “see” themselves in, similar to how model home displays are presented. Staging also helps create an environment that will lead a buyer’s eye to the home’s attractive features, while minimizing its flaws.
How do you determine the sale price of your home?
The correct selling price for your home is the highest price the market will bear. Accurately pricing your home is not guess work. It takes the assistance of a qualified Real Estate Professional to determine your home’s fair market value. Preferably a Real Estate Agent like Françoise that lives and/or works in Caledon, Brampton, Mississauga, or Toronto and is familiar with your neighbourhood and subdivision.
Every home is unique and will sell in either the high or low end of a particular price range, depending on its condition. To help you establish your listing price, your Real Estate Agent should perform a comprehensive market analysis of comparable properties that have been recently offered for sale in your neighbourhood. This information is crucial in helping to determine the right asking price for your home.
The comprehensive property analysis is divided into three categories:
- Similar properties that are currently listed
- Similar properties that have recently sold
- Similar properties that have failed to sell
Comparables selected must be located close to, and have similar characteristic to, the home being listed. Some of the features taken into consideration are as follows:
- Age of Home
- Number of Bathrooms/Bathroom
- Basement (Finished or Unfinished)
- Style of Home
- Square Footage
Typically your Real Estate Agent will have between three to five comparable properties to choose to show you. Unless identical properties are found, adjustments to values must be made for the featured differences.
How do you prepare your home for a home inspection?
Preparing your property for a home inspection by a professional, knowledgeable home inspector is an essential step in the home selling process. Here are some important aspects of your property to look over before the home inspection happens:
- EXTERIOR: Make sure the exterior of your property is clean, landscaped, and looks well-maintained. There shouldn’t be any overgrown trees or overhanging branches touching the roof of the house. Any railings should be secure, and any exterior structures, like sheds, decks, and garages, should be in good condition and free of any rotting or damaged wood. The exterior surface of the property should also be in good-condition, without any cracked or broken brickwork or damaged vinyl siding.
- ROOF: Your property’s roof shingles shouldn’t be broken, missing, or curling-up. The chimney should be straight, and without any evidence of damaged bricks or cracked joints. The structure’s eaves-troughs should be clean and free of debris, drain freely, and shouldn’t show any signs of bending or being out of place.
- INTERIOR: Your interior rooms should be free of stains and cracks on the floor, wall, or ceilings. Windows and doors should open, close, and latch properly without any broken glass or decay. Light switches and outlets should be covered, and working as expected throughout the property.
- BASEMENT: The basement should be free of evidence of moisture or flooding. Your foundation shouldn’t have any stains, cracks, or flaking. If your basement has exposed, structural wood, make sure it doesn’t show signs of sagging, decaying, staining, or insect damage.
- ELECTRICAL: Make sure that all of the visible wiring is in good condition with all cables secured and protected. There shouldn’t be any wires that are spliced, and your property should be free of any ‘knob and tube’ wiring. Make sure your property’s service panel has all the cables correctly and securely attached, and that there aren’t any blown fuses or breakers.
- HEATING AND COOLING: Your property’s furnace and air conditioning should be operating well throughout the house. The air-filter should be clean, and the ductwork should be in good, working condition. If your home is older, be sure it doesn’t contain any asbestos on the heating pipes, water pipes, or air ducts (if it does, it should be removed by a certified professional).
- LEAKS: Your property should be free of any water leaks. Water can run and leak into odd and unexpected places, causing extensive damage over long periods of time. If there are signs of water leakage, they may be spotted by examining the underside of sinks and dishwashers, along ceilings, on floors or along the basement walls. Plumbing fixtures, water-using appliances, drain pipes, water supply inlets and outlets and basements and roofs can all be causes and sources of water damage.
- PLUMBING: Make sure that faucets are working properly. Your bathtubs, toilets, and other similar fixtures should be properly cauked and grouted. Drains should be draining water well, and shouldn’t have any clogs.
- MISCELLANEOUS: Be sure your home has properly displaced and working smoke and carbon monoxide detectors.
- A SECOND OPINION: Once you’ve evaluated your property, call a friend or neighbour; a general unbiased overview of your property by a neighbour or friend may reveal items that you may have overlooked or simply thought were normal.
Remember, these are only some of the things to keep in mind while you’re preparing for a home inspection. Françoise can provide you with additional things to check for prior to your home inspection. Also, when you’re reviewing these items and you property, remember that the above items describe an ideal house for home inspection. If you’re house doesn’t pass all of the above, don’t worry; no house is perfect, not even new ones.
How long will it take to sell my home?
“How long will it take to sell my home?” is often the first question a home seller will ask and the answer depends on a number of factors. Key factors that typically influence the time a home spends on the market are: location, price and condition of the home.
There really isn’t any guarantee even if these factors are all in your favour. Market conditions such as supply and demand could have a great deal of impact. If you have a realtor working with you to market your property, they will offer expert advice on staging and preparing your home for sale, use of technology and networking resources to get the word out, and favourable closing terms that have proven successful. Your realtor can also offer you some insight by providing recent sales data for your neighbourhood.
If your plan is to sell your home quickly, here are some things you can do yourself to help make it happen. Make any and all minor repairs around your home. If baseboards or interior trim would benefit from a coat of paint, go ahead and put fresh semi-gloss all around. If the décor is dated, look for inexpensive ways to freshen the look. If there is clutter or over-stuffed closets or rooms, clear out all non-essentials and see how truly big your home can look. A little dedication and elbow grease may add thousands of dollars to your selling price and speed up the sale in the process!
Whatever your expectations, don’t be discouraged if your home is taking longer to sell than anticipated. Statistics show that peak interest in a house is within 3 to 5 weeks from the time it’s put on the market. If your home exceeds this, work with your realtor to determine what the reasons might be for the delay and create a plan to address each one of those issues. While there may be some things beyond your control, your real estate agent has the experience, patience and ingenuity to nurture you through the selling process.
Get practical tips on staging your home for sale now.
You can contact Keith & Françoise anytime using the form below.
Don’t want to fill out a form? Click here to send Keith & Françoise an email instead.