Whether it’s for a much-needed upgrade or because you’re ready to make a lifestyle change and, perhaps, try your hand at living tiny, you’ve decided to put your home up for sale.
If you’re anything like most sellers, however, your experience with real estate has likely been solely from a buyer’s perspective. This means that you may be less familiar with the process of selling a house. To better navigate through the seller’s market for Vancouver real estate, read up on our tips for selling your home.
Deciding to sell
Selling a home is a significant financial decision. It is often also fraught with emotions, so it’s important to make sure that you’re well and truly ready for all it entails. If your and your family’s needs have changed over time and your home doesn’t tick all the boxes, you would do well to move on.
Here are some signs that may mean it’s time for a change:
- You have too much/not enough room
- Your family is growing
- Your kids are moving out
- You’ve had a career change
- You’re retiring
- Maintaining your home is getting more difficult
- Moving around in the home is harder
- Making changes to the home would be insufficient
Finding a seller’s agent
For a worry-free and seamless home sale, enlist the help of a local seller’s agent. A real estate agent’s resources, market expertise, and knowledge of the neighbourhoods will be vital to your home selling journey.
Find an agent who’s familiar with the area as well as the type of property you’re selling. Ask about past transactions to see if they’ve handled anything similar in the past year.
Preparing your house for the sale
Give your house a little touch-up before officially putting it on the market. Walk around your home and make a list of things you need to fix. Simple repairs like getting squeaky floorboards and leaky faucets replaced can go a long way. Other must-dos before a home sale are cleaning, decluttering, and depersonalizing.
To make your home stand out, stage your home to highlight its best features and give it a more universal appeal. Seek to make living areas more neutral by changing the room colors and redecorating. Also, boost your home’s curb appeal by sprucing up its exterior.
Pricing your home
Accurately pricing your home is a crucial step in the home selling process. Avoid overpricing your home because doing so could turn potential buyers off, causing your home to stay on the market longer.
Look at and compare homes similar to yours in the area to get a more accurate idea of how to price your home. Research the Vancouver housing market and ask your real estate agent for a detailed market analysis to figure out the market value of your property.
Marketing your home
Make sure your home stands out from other Vancouver real estate listings with the right marketing strategy. The real estate agent you choose should also have a detailed marketing plan which includes putting your property on different MLS’, social media posts, open houses, and the like. The goal of marketing is to reach as wide an audience as possible and attract more potential buyers.
Disclosing the defects of the property
As a seller, you’re legally obligated to disclose any defects that could affect the property’s desirability. The Property Condition Disclosure Statement should include the following:
- Patent defects – These defects pertain to those that are physically visible, such as a broken window or a hole in the ceiling.
- Latent defects—These defects refer to those not typically seen under normal conditions. These include problems with the foundation, electrical system, roofing, and the like.
Read each offer carefully and take note of the different closing dates and conditions. With the help of your real estate agent, negotiate terms and come to a suitable agreement between you and your buyer. Feel free to move on to the next offer if you aren’t happy with any of the conditions stipulated in the first one.
Closing the deal
When it’s time to close the deal, it’s recommended that you hire legal counsel, be it a lawyer or a BC notary. They’ll provide you with the required documents and handle the transfer of ownership and funds.
When it comes to selling a home in Vancouver, TeamW Realty is your go-to real estate professional team. We focus on understanding the goals of our clients and aim to provide them with top-notch services, including providing our clients with tips to sell their home fast.
With a combined 20 years of experience, we know how you can make the most of your home sale. Get in touch with us today by calling 604.737.8865. Or you can send an email to info(at)teamwrealty(dotted)ca.