| Links and Info for Real
Estate Buyers and Sellers in BC. If you’re looking to sell your house, you need all the help you can get, and buyers need the tools to find the best bargains. BCFSBO.ca is happy to provide a variety of real estate resources to assist you, whether you’re buying or selling property. Please select the resource that you are interested in from list below. |
| TIPS
FOR SELLERS Selling your home is not complicated if you follow some basic steps: 1. Prepare yourself Be patient: If your price is right and the home is well advertised, you should expect to sell it in 60 to 90 days. Determine what the earliest date is that you could complete your sale. Be prepared to handle phone inquires and showings. Have a printed copy of your property description available for the potential buyer to take away with them (TIP: A printed copy of your listing page from BCHomesForSale.com works well). 2. Prepare your home First impressions count! Give your home its maximum “curb appeal” by keeping the yard clean and neat. Clean, clean, clean! Make your house sparkle…many buyers equate clean with well maintained! Reduce clutter to create space and make your home look bigger. Pack away unnecessary articles and store them out of sight. 3. Finances Price your home: Consider hiring a professional appraiser to determine the current market value for your home. Check out the selling price of similar homes in your area. Determine the minimum price you can accept for your home. Determine if you have any time deadlines on selling your home. The faster you must sell your home the more aggressively it should be priced. Most buyers want to negotiate. Leave yourself some room in setting your price. Find out all the costs involved in selling your home: Are there any penalties involved in selling your home (e.g. an existing mortgage). Are there any outstanding repairs that might have to be included in the deal (e.g. repair or replace a leaky roof). 4. Paperwork and Legal Hire a Lawyer or Notary Public to advise you on legal matters and conduct the real estate transaction. They can also provide all the forms necessary to sell your home (e.g. Property Condition Disclosure Statement, Contract of Purchase and Sale). Locate all legal documents associated with your home (e.g. Property Survey). Prepare a Property Condition Disclosure Statement (get this form from your Lawyer/Notary Public or local stationary supply store) and have it on hand for potential buyers. Prepare a property description statement including: Legal description Improvements Internal/external features Neighborhood features Home operating costs (taxes, heat, electric) Proximity to local services (schools, shopping etc) 5. Create a marketing plan Set aside a marketing budget. Determine your marketing strategy. The most cost effective sources are: Small inexpensive newspaper ads combined with a full text and color picture listing on the internet at BCHomesForSale.com Yard sign Information Sheets (give to potential buyers, post in local stores, bulletin boards) 6. Prepare a negotiating plan How flexible are you on price? Do you want to offer prospective buyers any financing? Are you willing to consider a trade in whole or part? What items might you sell with the house? E.g. appliances, window coverings. List (for yourself only) what is firm and what is negotiable. What “subject to” conditions will you accept? E.g. offer subject to financing approval or sale of buyer’s existing house. What completion and sale dates are you willing to accept? 7. Steps in the sales transaction A. The Buyer makes an offer. Accept only offers in writing. An offer is usually made on a Contract of Purchase and Sale form. B. The Seller takes one of the following actions: Accept the offer. Make a counter-offer to the buyer (this is the most common). A counter-offer usually changes certain terms of the original offer such as price, conditions or dates. Reject the offer outright. This can be done verbally. Rejecting the offer with no counter-offer is sometimes done to send a negotiating signal to the buyer to “get serious”. C. When the Buyer and Seller have agreed on the sales terms by signing the Contract of Purchase and Sale (Warning: have your Lawyer or Notary Public review any forms before signing!), the paperwork is turned over to each party’s Lawyer or Notary Public to conduct the actual sales transaction. Here is a link to Canadian Legal Documents |
| TIPS
FOR BUYERS For most of us, buying a home is the largest purchase decision we will make. Keep these factors in mind as you shop: Consider the location. Is it close to services important to you? For example, schools, shopping, parks. Visit the property at various times in the day (early morning, noon, late afternoon and late at night on both weekdays and weekends). Have the property inspected (by your own choice of inspector). Walk or bike around the neighborhood. This will give you better feel for the location and surroundings. Consider the house in other seasons. For example, how bright will various rooms be in the winter? Consider the neighbors. Are yards neat and cared for? Bring a friend and ask them to play “devil’s advocate”. An impartial 3rd party removed from the stress of making a large decision can point out factors you hadn’t considered. Check for external sources of noise e.g. heat pumps, highways, neighbor’s dog, industrial buildings. Consider potential changes to the neighborhood e.g. planned roads, highways, apartment blocks, parks, other housing developments. A visit to the city planner in the local municipal hall is often helpful. |
