555
Central Avenue Thunder Bay, ON
P7B 5R5
Ph # 623-8300
Email:
ajolin@norlink.net
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| Market Guide Buyer's Guide Seller's Guide Realtor's Guide |
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SELLER'S GUIDE From putting your house on the market to accepting the offer, all resources for the home seller. |
| PUTTING YOUR HOUSE ON THE MARKET |
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Before putting your house on the market, carefully assess the current
market conditions. Your understanding of the real estate market will
be instrumental in formulating your sales strategies, timing, asking
price, and ultimately whether your house will sell or not. Consider
the following:
Seasonality affects how long it will take to sell your house. Home
buying in Canada is affected by the season and weather. The optimum
times for home buying is the spring and summer. For families with
children, being settled in time for school is a major consideration. |
| COMPLETING A LISTING AGREEMENT (back to top) |
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A listing agreement is a contract between you and the brokerage firm your realtor represents. It provides a framework for subsequent forms and negotiations. Both you and the listing agent sign and retain a copy of the agreement, and it binds both parties to its terms and conditions. The contract includes the following information:
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| TYPES OF LISTINGS (back to top) |
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There are three types of property listings: open listings, exclusive
listings, and MLS® listings. In an open listing, you give the authority
to sell your property to one or more realtors, or you can sell your
property yourself. In an exclusive listing, you appoint one firm to
act as your agent in the sale. The firm has sole, irrevocable, and
exclusive right to sell your house for a given period of time. An
MLS® listing is a type of exclusive listing that allows the realtor
to work with other realtors through the local board MLS system and
give your property added exposure. |
| OPEN HOUSES (back to top) |
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There are two types of open houses: agent's open house, and public open house. In an agent's open house, representatives from the listing company and other realtors are invited to view the home. In a public open house, members of the public are invited to walk through your home and have a look. It is a good idea to not be home during an open house, but if you decide to stay:
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| THE OFFER (back to top) |
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When a buyer is interested in purchasing your property, they make
a formal offer to purchase that outlines how much they are willing
to pay, any conditions attached to the offer, and when the offer expires.
You can accept the offer or make a counter offer and negotiate both
the price and conditions. Once the offer is signed by everyone, it
is a binding contract. You may want to have it reviewed by a lawyer
before signing. |
| BUY OR SELL FIRST? (back to top) |
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When you have to sell your house and buy a new one, you have to coordinate your activities so you are not left homeless for a time or caught with the expense of two houses. By selling your current home first, you can negotiate the purchase of your new home with more certainty. You'll know how much you've netted from the sale, and will be more qualified to determine the price range of your next home. If you don't sell your current home first, make your offer to purchase a new home conditional on the sale of your current home. However, in a "buyer's market", many people sell first to limit risk. A buyer's market occurs when there are more houses on the market then potential buyers. In this situation, the buyer tends to be more selective in choosing a home.
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