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The Main Stages of Home Selling

Posted by Ron Neal on Wednesday, August 8th, 2018 at 9:02am.

A 'How to Sell Your Home' GuideA home seller can take a number of different approaches to attract home buyers and get the offers they want. However, sellers need to understand how the process works before they start trying to add in their own special touches. Keep the main stages in mind to have a better idea of where to start and how to navigate your home sale without the hassle.

Declare a Budget

From staging and advertising to closing costs, home sellers need to hammer out their finances before deciding who to hire and how to list. Canadian buyers are usually required to hire a lawyer to ensure their paperwork is air-tight, so sellers should start researching average fees in their area as soon as possible. If sellers still have an active mortgage, they'll likely need to pay a fee to discharge it. However, sellers may also receive more financial breaks than they realize when selling a home. For example, if the seller closes the deal in April but has already paid their property taxes for the year, the buyer will pay the seller a prorated fee.

Prepare the Home

Now is the time to take care of all the last minute repairs a seller may have been putting off. While they may not need to buy all new appliances or put in a third bathroom with a jacuzzi, cosmetic improvements such as fresh paint and updated lighting fixtures can go a long way toward inspiring buyers to picture themselves living in the home. Canadians are primarily looking for practical features, such as a fence or energy efficient lighting and water. Sellers can consult with a real estate professional to find out more about the kinds of repairs that are likely to be valued in their area.

Hire an Agent

The right real estate agent can take care of the following:

  • Preparing the home: Photographs, home staging, price setting, listing: there's an art to generating the interest a seller needs to meet and exceed their listing price. Agents do everything in their power to make the home seem as magical as it really is.
  • Selling the property: Agents take the time to showcase the property. They point out the elements to home buyers and the buyer's real estate agents that will make them want to bid on the home.
  • Preventing disputes: From financial conflicts to ownership doubts, real estate agents take the time to go over (and potentially fix) the many details in a home sale. They drastically reduce the chances of a delay during escrow or the odds of a legal claim being brought against the seller.

Close the Deal

Sellers need to have the property paperwork in order to finish up their sale once they've found a buyer. The deed, property tax documents, active warranties, and survey data will all need to be provided. Title companies will need to verify there are no potential ownership disputes (e.g., an ex-spouse who may claim the property or an outstanding lien on the home). If the seller has an renovation information on the home, even if it was just to rearrange the plumbing, they should include these facts in their paperwork.

The North Saanich home sellers who think through each stage of the home sale are the same ones who can make the difficult decisions and cope with the inevitable hiccups that will come up along the way. Hiring the right help in the form of an agent and a real estate lawyer can be the key to getting the answers you need, when you need them.

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The Neal Estate Team

The Neal Estate Team is your #1 source for all of your Victoria BC real estate needs. Get in touch with us online or by phone at (250) 386-8181 to speak with a Victoria real estate buying or selling expert today. With decades of experience as a top selling Victoria REALTOR® and ranked in top 1% globally with over 4,000 transactions and $1 Billion SOLD, Ron Neal & The Neal Estate Team have the industry experience and market knowledge to help you make smart and informed buying or selling decisions. 


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