Selling a home is an emotional process for many sellers, especially first-time sellers and those who have lived in their homes for a long time. People sell for many reasons; whatever yours is, here’s how to handle it.

For all sellers: The first time you sell a home, you may be anxious about the process. After all, you don’t know what to expect. However, with the market always changing, even experienced sellers may encounter uncertainty. To help make the process worry-free, follow these tips and be sure to ask any questions that arise.

• Prepare your home. Make any necessary repairs and get your home move-in ready. If possible, hire a home inspector so you know what to fix.

• Prepare your mind. Try to remove the sentimental or emotional value you have in your home and see it as it is: a place to live.

• Make your home available to show during the day. Improving the accessibility of your home to buyers and their agents may help you sell it faster.

Before buying another home:

• Plan ahead to save time and money. If you sell your home before you buy a new one, lean on me to help you find a new home or short-term rental before you close.

• Get pre-approved for a mortgage on your next home.

If you’re trading up:

Families looking to purchase a larger home may only be thinking about the need for additional space or bedrooms, but there are a few unique circumstances to consider while going through the selling process.

• Buy or sell first? You may be wondering, should you sell your current home first or buy a new home and then sell? I can discuss the options with you to ensure you make the best decision for your family.

• Price it right. Ideally, you’ll want multiple bids so you can choose the highest and best offer. Pricing your home correctly will help you target the right buyers who are willing to negotiate the best deal. Setting an accurate asking price will speed up the selling process so you can move on to the next chapter of your life, while still getting the most money.

Before buying a larger home:

• Continue to shop for a home while your current home is on the market.

• Create a list of must haves and deal breakers for your next home to make your search more efficient.

• Consider the suburbs. If you want space at a budget price, consider rural or suburban areas where you may be able to get more home for your dollar.

If you’re thinking of putting your home on the market, you may be wondering how to make your home more attractive to prospective buyers. If you’re thinking of listing and you want to update your home, consider these improvements.

1. Hardwood floors. Wood floors are the most popular request from potential buyers because of their clean, versatile and timeless appeal. There are many hardwood and engineered hardwood options to fit any budget.

Cost to install: Hardwood and engineered wood run $4 to $6 per square foot, plus the cost of installation and the removal of existing floors and replacement of subfloors, if necessary.

2. Bathrooms. Whether you do a major overhaul or a minor update, it’s clear that buyers are looking for a neutral, soothing colour palette with modern materials and finishes. To update your bathroom before listing your home, select a basic white toilet, sink and shower, then add modern-looking fixtures and hardware.

Cost to install: Cost varies based on the extent of the work, but a basic renovation can run $10,000 to $16,000, including design, planning, materials and installation.

3. Kitchen. If you plan to update your kitchen before you list your home, be sure to stick to a realistic budget. While a kitchen remodel has a high return on investment, it can also become very expensive. Choose modern, cost-effective options that look expensive. For example, composite, high-end laminate and butcher block look modern, but are more cost-effective than stone.

Cost to install: While cost depends on the scope of work, the average remodel is $24,912.4

4. An income suite. When done right, renovating a basement, loft or garage into a rentable living space can make your home more attractive to potential buyers. Some buyers seek out homes with income suites so they can generate income to offset their mortgage payments. Additionally, if it’ll be a few years before you list your home, you can generate income while you continue to build equity in your home. Just be sure to check with your local zoning laws before you undergo this type of renovation.

Cost to install: Total cost varies, but the average is about $24,000.5

Ok, you’ve decided that it’s time sell your house. For whatever reason; upgrade, downsize, relocate, you get the picture. Now, everyone wants the most money for their house, right? And, many homeowners, including you, believe for whatever reason that their house is worth more than the one down the street, right? Be honest with yourself! Homeowners should be cautioned that overpricing a house for sale can end up costing them money, literally thousands!

Now, keep in mind that you’ve already decided that you’re going to sell and move on. I have 9 simple reasons why pricing your home too high can cost you money. So, let’s play Real Estate!

Reason #1: And, this is a hard one! Interest/mortgage rates might go up! We don’t carry the crystal ball and while you’re waiting for you house to sell, interest rates creep up costing you more on your new home! This also impacts potential buyers ceiling price causing them to shop for a different, less expensive house.

Reason #2: When you finally sell (everything sells eventually!), your new home may cost you more or…

Reason #3: The market swings and your house is now worth less taking even longer to sell or it expires. Either way, you lose out.

Reason #4: You lose speculation time. Pricing too high could put you outside the sight of prospective buyers. Once your house sits long enough on the market and your REALTORâ talks you into reducing the price, you still may sit waiting as the buyers for your type/style of house have already bought something else!

Reason #5: Let’s say that you had to move; transfer. Now, your house sits vacant. You still have to pay taxes and utilities until it sells. Or…Reason#6: You have two homes and double the mortgage payments! Ouch! Now, out of frustration, you drop the price and “fire sale” it to try and “save” money. Costing you more!

Reason #7: Tax advantage…I’m not an accountant so I suggest you discuss this one with him/her. But, let’s say for argument sake that you don’t sell it and you’ve moved on. Now what? You end up renting it in hopes to cover your costs. Where does that put you with the tax man? Repairs after tenants move out? Money, money, money!

Reason #8: Your house gets lost in the shuffle! You start too high and chase the market down. Now it’s finally priced where it should have been priced in the first place. But, it still doesn’t sell! Why? It’s been on the market too long. So long in fact, that people wonder what is wrong with it and avoid it. So, now you “fire sale” it to get rid of it! You lose out on thousands!

Reason #9: You end doing needed repairs (the roof finally started to leak!) and end up not recouping the costs in the final sale.

It’s all common sense really! The Real Estate Professional you choose should be able to explain where the current market for your area is and help you price your house right. If I can be of any help or you would like to discuss this matter further, send me an email with your contact information and I’d be happy to give you a call! If you live in the Central Vancouver Island area and would like to discuss this or listing your house, call me directly at 250-751-4902!

GETTING YOUR HOME READY TO SELL.

Here are some tips to help you prepare your home for its market debut.

Start packing valuables and items you don’t plan to use until after you’ve moved, including any personal photos displayed in the home. Removing clutter will make your home appear more spacious. While deciding what to pack, think about which appliances to take with you. For example, are the washing machine and dryer included or do you want to take them?

Get your home move-in ready. Most buyers want a home in move-in condition when they buy. For example, painting the interiors a neutral shade or white is a simple way to make a home appear brighter and allows potential buyers to easily incorporate their style into the space. Also, be sure to complete regular maintenance on your home’s cooling and heating and other systems to keep them in good working order for the next owner.

Have a home inspection. In many cases, a buyer will hire a home inspector to inspect the property. However, hiring one beforehand will help you assess what may need to be fixed before you sell. If the inspector finds major issues with appliances or your home’s plumbing/septic, heating or electrical systems, you may be required to make the repairs. Don’t worry; this is a normal part of the process–one we’re happy to guide you through.

Boost curb appeal. The exterior is often a potential buyer’s first impression of your home. If it’s well-kept outside, many buyers also assume it’ll be well-kept inside. Paint or clean your exterior, trim hedges and shrubs and mow the lawn. These small activities have a big impact on attracting the right buyers to your home.

Clean. Hire a professional cleaner to thoroughly clean your home for potential buyers.

Stage. Make your home look its best by staging high-traffic rooms, such as the living room and kitchen. Staging helps buyers picture themselves in the home. While many sellers hire a professional, especially in competitive markets, you may also be able to do it yourself.

MARKETING IT RIGHT.

Once your home is ready to sell, it’s time to think about marketing. Marketing helps find the right qualified buyer to purchase your home. It all begins with pricing. Homes that are priced right are often picked up by buyers in a short amount of time. To price your home, we’ll review comparable homes in your area that are currently on the market or have sold in the last few months. We’ll also take into account your home’s location, square footage, amenities and condition, as well as local market conditions. All of this information is included in the Comparative Market Analysis (CMA).

SHOWING YOUR HOME.

Interested buyers will make an appointment to see your home in person. It’s standard to leave your home while potential buyers are there; doing so makes them feel more comfortable talking about the home and encourages them to take their time. Be sure to let us know what appliances and fixtures will not be included in the sale so we can let buyers know before they submit an offer.

Identify and remove potential hazards ahead of time. During showings, keep your walkways clear, take your dogs to the park and, if you have a pool, make sure the gate is closed. If a potential buyer gets hurt while viewing your home, they may try to sue.

Open the curtains and blinds to let light in and turn on all the lights in your home. Also, turn the thermostat to a comfortable temperature. Keep your home in show-ready condition. Keep the clutter under control and home maintained, inside and out.

HANDLING OFFERS.

When you get an offer, we’ll present it to you and negotiate on your behalf. The offer may include the amount the buyer is proposing to pay, how much they plan to mortgage, their ideal closing date, any contingencies, and personal property they want included or excluded. Once you’ve accepted an offer, we’ll outline contingency dates and start the paperwork process. During this time, it’s important to make sure all contingencies, including inspections and repairs, are made by the deadlines. On closing day, the buyer will do a final walkthrough to check the condition of the home and ensure the required repairs were made.

CLOSING.

During the closing process, you and the buyer will sign the final paperwork. Additionally, the title will be transferred to the buyer and they’ll receive the house keys. Most importantly, you’ll receive payment for the home, minus the payoff of the existing mortgage and transaction costs.

As a homeowner, you can play an important part in the timely sale of your property. When you take the following steps, you’ll help your Sales Associate sell your home faster, at the best possible price.

The easiest and most reliable way to improve the appeal of your home is to enlist a quality home service professional. The right professional can help you get everything in order – from repainting the kitchen to providing a thorough cleaning – so you can stay focused on more important things.

1. Make the Most of that First Impression
A well-manicured lawn, neatly trimmed shrubs and a clutter-free porch welcome prospects. So does a freshly painted – or at least freshly scrubbed – front door. If it’s autumn, rake the leaves. If it’s winter, shovel the walkways. The fewer obstacles between prospects and the true appeal of your home, the better.

2. Invest a Few Hours for Future Dividends
Here’s your chance to clean up in real estate. Clean up the living room, the bathroom, the kitchen. If your woodwork is scuffed or the paint is fading, consider some minor redecoration. Fresh wallpaper adds charm and value to your property. If you’re worried about time, hire professional cleaners or painters to get your house ready. Remember, prospects would rather see how great your home really looks than hear how great it could look “with a little work.”

3. Check Faucets and Bulbs
Dripping water rattles the nerves, discolors sinks, and suggests faulty or worn-out plumbing. Burned out bulbs or faulty wiring leave prospects in the dark. Don’t let little problems detract from what’s right with your home.

4. Don’t Shut Out a Sale
If cabinets or closet doors stick in your home, you can be sure they will also stick in a prospect’s mind. Don’t try to explain away sticky situations when you can easily plane them away. A little effort on your part can smooth the way toward a closing.

5. Think Safety
Homeowners learn to live with all kinds of self-set booby traps: roller skates on the stairs, festooned extension cords, slippery throw rugs and low hanging overhead lights. Make your residence as non-perilous as possible for uninitiated visitors.

6. Make Room for Space
Remember, potential buyers are looking for more than just comfortable living space. They’re looking for storage space, too. Make sure your attic and basement are clean and free of unnecessary items.

7. Consider Your Closets
The better organized a closet, the larger it appears. Now’s the time to box up those unwanted clothes and donate them to charity.

8. Make Your Bathroom Sparkle
Bathrooms sell homes, so let them shine. Check and repair damaged or unsightly caulking in the tubs and showers. For added allure, display your best towels, mats, and shower curtains.

9. Create Dream Bedrooms
Wake up prospects to the cozy comforts of your bedrooms. For a spacious look, get rid of excess furniture. Colorful bedspreads and fresh curtains are a must.

10. Open up in the Daytime
Let the sun shine in! Pull back your curtains and drapes so prospects can see how bright and cheery your home is.

11. Lighten up at Night
Turn on the excitement by turning on all your lights – both inside and outside – when showing your home in the evening. Lights add color and warmth, and make prospects feel welcome.

12. Avoid Crowd Scenes
Potential buyers often feel like intruders when they enter a home filled with people. Rather than giving your house the attention it deserves, they’re likely to hurry through. Keep the company present to a minimum.

13. Watch Your Pets
Dogs and cats are great companions, but not when you’re showing your home. Pets have a talent for getting underfoot. So do everybody a favor: Keep Kitty and Spot outside, or at least out of the way.

14. Think Volume
Rock-and-roll will never die. But it might kill a real estate transaction. When it’s time to show your home, it’s time to turn down the stereo or TV.

15. Relax
Be friendly, but don’t try to force conversation. Prospects want to view your home with a minimum of distraction.

16. Don’t Apologize
No matter how humble your abode, never apologize for its shortcomings. If a prospect volunteers a derogatory comment about your home’s appearance, let your experienced Sales Associate handle the situation.

17. Keep a Low Profile
Nobody knows your home as well as you do. But your Sales Associates know buyers – what they need and what they want. Your Sales Associate will have an easier time articulating the virtues of your home if you stay in the background.

18. Don’t Turn Your Home into a Second-Hand Store
When prospects come to view your home, don’t distract them with offers to sell those furnishings you no longer need. You may lose the biggest sale of all.

19. Defer to Experience
When prospects want to talk price, terms, or other real estate matters, let them speak to an expert -me.

20. Help Your Agent
Your Sales Associate will have an easier time selling your home if showings are scheduled through his or her office. You’ll appreciate the results !

Selling your house is not as easy as just putting a sign on the front lawn!

There are several steps to take prior to listing your home that will make the transaction smoother and quicker.

Making your home attractive to buyers is one of the key elements. Once you have taken care of the prep work to get your home on the market, you’ll need to present your home to potential buyers. Even small cosmetic improvements will have a major impact on the sale of your home. The right touches can get a buyer excited about your home, but a few poor decisions may lose their interest completely.

A CLEAN SALE: Spring into selling

When the skies open and clouds push back, the sunshine once again floods through filling our lives and homes with warm light! Along with good weather usually comes a busy Real Estate market. This is the time when the market explodes with new listings and buyers have a lot to choose from.

How do you get your house noticed in a sea of For Sale signs? Clean, clean, clean. I mean clean everything! A clean house shows way better than a not so clean house. So, if you are really interested in selling in a spring market, here are a few pointers to maximize your profit and get an edge over your competition when selling in a spring market.

WOW , Check that curb appeal!

First impressions only happen once. When I show up with a buyer I first note how the house presents itself. Does it show pride in ownership? Or, has the home been neglected? A house that is in need of repair and cleaning outside usually reflects on the inside as well. You have to get the buyers in to have a chance in selling. I’ve pulled up to homes and have been instructed by the client to just drive away. Don’t let your house be our next pass over!

So, you have our attention. What’s next?

If you’ve done your job right, we’re coming in. What’s usually one of the first things I do when I approach the house? I ring the door bell. If it’s broken or not working, I write it down.

Once inside, we begin the tour. Odors KILL deals! Make certain you clean and deodorize carpets, keep the garbage under the sink clean and make sure the washing machine is smelling fresh. It’s important to have a pleasing and inviting scent upon entry. If you are using an air freshener, pick a plug in air freshener that is NOT overbearing as too much scent makes it seem like you’re hiding something. If you have pets, hide the litter container and keep it
fresh.

Let there be light…

And lots of it! Maximize your exposure with clean windows and sky lights inside and out. Check for mildew. It is disgusting to look at, makes buyers think of moisture issues and it also leaves a negative impression. Get rid of it. Check all light fixtures and fix or replace as necessary. Please make sure all light bulbs work!

The most important room in the house!

Actually, there are two! The Kitchen and the Bathroom(s). Let’s face it, you won’t eat in a dirty restaurant will you? And it’s the same for public washrooms. You won’t eat there either! All kidding aside, public facilities are frowned upon at the cleanest of times, but a dirty one makes you run away.

Plus, if your not inclined to clean these areas, the clean outside will look fake.

Space

It really is the final frontier! You’re not selling a storage locker so don’t make your house look like one. Clutter is a major deterrent for any buyer. Unnecessary stuff, over sized or too much furniture will make a space look smaller than it really is. Remember, buyers are trying to get a “feel” for how their furniture will fit into their new space. If it looks crowded and navigation through the house proves challenging, they will move on.

If you want my input on selling your house, email me with your contact information and a good time to call.

[email protected]

According to Darryl Saam, a Professional Building Inspector here in Nanaimo (www.discoveryinspections.ca), a pre-sale home inspection upon listing your house for sale is a great idea.  It not only gives potential buyers a good first impression, it gives the seller peace of mind that a post-sale inspection won’t turn up any costly surprises!  Below are 10 reasons by Darryl:

1. Dramatically increases marketability and confidence in your home to the potential buyer.
2. Helps to eliminate conditional offers.
3. According to the Ontario real-estate board in a market where the average days a home is on the market is 30-40 days a home that has a pre-listing inspection sells 13 days quicker.
4. The report can be used by your agent at showings, open houses, emailed as a PDF to potential out of town buyers.
5. Speeds up the process of the transaction, it is a win/win for the seller and buyer!
6. It helps you prioritize repairs — those you’ll pay for yourself and those you’ll pass on to the buyer.
7. It allows you to get quotes on the larger items found to be deficient and reduce the asking price accordingly. CMHC national statistics show that buyers renegotiate 4 to 5 times the actual value of repairs to any deficiencies that their home inspection found. This alone may save you thousands of dollars.
8. Included is an eye catching lawn sign that accompanies the agents sign, and a free 120 day limited warranty* on the home.
9. Eliminate the stress that comes with “Subject to home inspection”.
10. It reduces your liability by adding professional supporting documentation to your disclosure statement.

If you have any questions about a pre-sale inspection call Darry Saam at 250-713-4811 and seeing how you’re thinking of selling your home, call Jeff King at 250-751-4902 or email me at [email protected].

* Please note that the 120 day limited warranty is offered by Discovery Home Inspections and may not be offered by all inspection services.