Below is a 10 step by step guide designed to familiarize you with the home selling process. Your KW agent will navigate you through the entire process of selling your home, with step by step access to the process using the KW Consumer App!
Step 1: Price your Home
Working with your KW agent, establish a price for your home that is competitive among comparable homes in your area and considers current market conditions.
Step 2: Prepare your Home for Showings
Before your home is made available to the public for showings, ask your KW agent for advice on staging and de-cluttering to ensure your home is seen in its full potential. Once your home is showing at its full potential, your KW agent will arrange for high quality photos and/or videos to be taken which will assist with marketing your property. Click here to connect to our home staging Key Partners.
Step 3: List your Home on MLS and other websites
Once listed on the Multiple Listing Service, or MLS, your home will be seen by hundreds of real estate agents and home buyers in the local market on www.realtor.ca. Our office also utilizes what's called a DDF feed through the Canadian Real Estate Association (CREA) which will share your listing on dozens of other agent and brokerage websites in the area.
Step 4: Showing your Home
Once we've prepped your house for sale and set a realistic price, we're ready for the public to see your property. Your KW agent will market your property and coordinate all viewing requests with you. No one will view your house without prior permission from you, and a real estate agent will accompany every potential buyer during property viewings.
Step 5: Review Offers
When we receive one or more offers on your property, we will help you analyze all the terms and conditions in the offer and negotiate any that my not be acceptable to you to ensure we get the best price and conditions possible.
Step 6: Execute Contract and Satisfy Conditions
Once an agreement is made between you and the buyer, your KW agent will ensure all necessary documents are properly signed and will send any required copies to your lawyer on your behalf. Typically in the 1-2 week period that follows the accepted offer, there will be conditons and clauses that have to be met. Some will involve you, such as providing a survey or a property condtion disclosure statement, and others will involve the buyer such as their home inspection and mortgage approval. Click here to connect with one of our lawyer Key Partners.
Step 7: Inspection
Most buyers request a home inspection as a condition of their offer. We will provide access to the inspector (typically approximately 2-3 hours) to conduct the inspection and if any items of concern are put forth, your KW agent will discuss these with you along with the options you would have to proceed.
Step 8: Appraisal
You're nearly there! The next step is getting an appraisal. This is not always required, but if it is, it is generally at the request of the buyer's lender to ensure the property is worth the amount that is being mortgaged or loaned to the buyer to purchase your home. In this case, there would be no cost to you for the appraisal.
Step 9: Prepare to Move
Once all conditons are met, your house is considered sold and your KW agent will install the SOLD sign while we await the closing day. As the big day gets closer, you will need to start packing and preparing for your move, repair any items that were required in the inspection and schedule for disconnection of services such as power, phone, internet, etc. You may also want to arrange to have your mail forwarded to your new address so that nothing "falls through the cracks".
Step 10: Close your Sale
You’re one step closer to selling! There's quite a lot to consider when closing on the sale of your house, and communication with your KW agent will be frequent on closing day. We will have to allow the buyers in one final time to do their pre-closing walkthrough to ensure the house is empy, clean and the items that were asked for in the offer are still there. If you haven't done so already, you will need to meet with your lawyer to sign the final documents for the sale. Once the closing packages are exchanged between the lawyers, the property is considered closed and the lawyer will provide the remaining proceeds of the sale to you.