When you list your home with us you will receive our personal attentive service including regular updates and feedback on showings. Your home will be marketed in a variety of ways including the MLS® listings, Ottawa Real estate board, flyers, brochures and real estate magazine as well as on our own web site. You will receive maximum exposure and your home details will be available to any real estate agent. You can rest assured that we will be there through every step of the offer process and available to answer all your questions via phone or email. Of course, nothing speaks louder then what others have to say. Please take a moment view our testimonials then contact us directly or fill out our no obligation online Home Evaluation to get started.
Working with the O”Donnell Ottawa team is more than just about selling a home. Trudy & Leanne believe in giving back to the community. Take a look at how we can make a difference together with Miracle Home Network program.
We also invite you to download Our Free Valuable Brochures for additional information about the many aspects of home sales and purchase and other related topics.
There are a million different reasons why people sell their homes, but every seller has one thing in common: the desire to get as much money as possible from their existing residence as quickly and as hassle-free as possible. (If your home is your principal residence, you won’t have to pay capital gains tax on any profits from the sale. If, on the other hand, it is an investment property, prepare for the tax man!)
Before you begin the selling process, really evaluate why you’re moving. Do you have too few rooms, or too many? Has your job moved to another city and you’re relocating? Are the neighbours driving you away? Or are you simply looking for a change? A complete analysis of your current position will set a good foundation for your next home hunt.
When is the Best Time to Sell Your Home?
Everyone seems to have specific ideas on when the right time is to sell. Some base their theories on the overall economy, while others will tell you that there are key buying months that you’ll want to capitalize on.
If you’re not buying and selling strategically or for investment, the best time to sell is really when you feel your existing home will not meet your future needs. The best reason to purchase a new home is to take advantage of your family and lifestyle changes. Do you wish to be closer to a school? Are you switching jobs? Do you have an aging parent to care for?
In Canada, weather and holidays do play a factor. Almost no one goes house hunting around Christmas, and few give up their summer vacations. Of course, those with school-aged children are less likely to move during the school year and summer is an ideal time. In some areas, there is a definite “spring cycle” — perhaps it’s a bit of spring fever and a wish to break out of the bonds of winter.
Some gamblers look for winter bargains and then try to sell their homes during the spring cycle. But overall, that could be more tension and aggravation than you wish. And the monetary results may be disappointing.
Another key factor to consider is the economy. Are interest rates higher or lower in comparison to your current mortgage? If they are higher, you may want to stick with your current home, as your new mortgage payments could be uncomfortable. If rates are lower, you might be able to trade up to a more expensive home without a significant increase in your monthly mortgage obligation.
What’s more, if it’s a buyers’ market, you may be in a strong position to purchase a new home, especially if you have accumulated some equity in your current property.
Are There Costs Involved in Selling?
Unfortunately, the answer is yes. Even if you think your home is perfect, you may have to do some minor repairs or upgrades to make your home more attractive to potential purchasers.
- A professional home inspection may be a condition of the offer. If the inspection points to problems, your purchaser may ask that you make the necessary repairs or choose not to close the deal.
- Closing costs, such as lawyers’ fees or unpaid taxes, will also have to be paid.
- Mortgage discharge fees may be levied by your lending institution.
- Sales commissions must be paid as defined by your listing agreement.
Buy or sell first?
That’s tricky. After all, if you find a purchaser for your existing home, before you’ve found a new one, you may find yourself living out of a suitcase if convenient closing dates can not be negotiated. On the other hand, if you find your dream home before you’ve unloaded your old one, you may be faced with carrying two mortgages for a time.
So how do you manage? Easy. Do your homework and have a good idea about the neighbourhood and type of home you’re looking for. Do an honest evaluation of your family’s needs and budget.
Speak to your RE/MAX® agent and start your new home search as soon as your existing home hits the market.
If you’ve found a home, before you’ve sold your existing one, use “sale of your existing home” as a condition on your offer. If you don’t sell your house within a fixed period of time, you can choose not to go through with the offer. This, however, is a difficult condition for many vendors to agree upon and you may find that you have to forgo your price negotiating power.
Purchasing a home before you sell could be a risky strategy if you’re counting on the proceeds from the sale.
If you’ve found a purchaser before you’ve found your next home, use “purchase of a new home” as a condition when you sign back the agreement. Again, it will only be for a fixed time. Even if you have not found the ideal next house by the time the deal closes, you may still wish to proceed with the offer. As a buyer with a “sold house” you will be in a better position to negotiate price.
The Selling Checklist
Before you head to your agent to inform them of your decision to sell, refer to The Selling Checklist below. It will provide you with a list of points and costs to consider before selling.
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A Few Tips on Preparing Your Home For Sale “First Impressions are lasting impressions”
You will want to make sure that buyers looking at your home are left with the best possible impression. I can help you achieve this goal. Purchasers have decided how your home will show by the time they reach the front door
- Front door clear and well painted. Sometimes a seasonal wreath is a nice added touch
- House exterior in good repair
- House number easy to read
- Eavestroughs, down spouts and soffits in good repair
- Garage/carport clean and tidy
- Litter picked up
- Cracked or broken window panes replaced
- Lawns and ledges cut and Trimmed, garden weeded and edged
- Walks shoveled and salted
- Doorbell in working condition
- Porch and foyer clean and tidy
- Chipped plaster and paint touched-up and repaired
- Doors and cupboards properly closed
- Leaky taps and toilets repaired
- Burned out lights replaced
- Squeaky doors oiled
- Mirrors, fixtures and taps cleaned and polished
- Seals around tubs and basins in good repair
- Floors cleaned, garbage containers emptied
- If carpets soiled then have them professionally cleaned to remove all stains
- Inside of closets and cupboards neat and tidy – remove as much clutter as possible
- Appliances cleaned
- Countertops neat and polished
- All lights turned on
- Air conditioner turned on in warm weather
- Home to be left at comfortable temperature in winter
- Fresh air in house
- Fireplace lit in cooler weather
- I will help you and make suggestions as to how to present your home to its maximum potential.
We do understand you still have to live in your home comfortably. Together, we will discuss what you reasonably can or cannot do and work around that.
SELLER DOCUMENT CHECKLIST
Below is a list of documents that you should have on hand prior to selling your home. We want to ensure that we are prepared and that the information being provided to potential buyers is accurate.
- What is the remaining balance on your present mortgage?
- What is the current rate on your present mortgage?
- What would it cost to discharge your current mortgage? Are there any penalties?
- Can you transfer your existing mortgage to your new home? Do you know what the costs will be?
- Are there any CLAIMS on your home?
- Is this the most up to date property survey?
- Have there been any structural modifications that are not included in the property survey?
- If you have completed any renovations that included building permits, please have them readily available.
DEED OR TRANSFER OF TITLE DOCUMENT
- What names appear on the title of the property?
TAX ASSESSMENT DOCUMENTS
- What is your current property taxes and assessment
- Heating and air conditioning