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Michael Park Broker
Royal LePage New Concept, Brokerage Independently owned and operated
Office: 416-223-3535Mobile: 416-417-4326

Selling a Home

1.       Meeting with the client

-          Listing agreement between seller and listing brokerage

2.       Comparative Market Analysis (CMA)

-          By going to sold, available and expired property records, the real estate professional selects recently sold properties that are similar to the subject property and in the same area. By comparing these properties, and adjusting for feature differences, an estimate of value is made for the subject property.

3.       Listing Presentation

-          We will be discussing the CMA of your property

-          We will be discussing the current general and local market situation

-          Finding out the property tax assessment through MPAC

4.       After Forms are Signed

-          We will be taking pictures, videos (virtual tours) of the property

-          Measurements of the rooms of home

-          Requesting for a legible copy of survey

-          We will be asking for the most current property tax bill

-          We will also be verifying for mortgage verification. What are your rates, do you have a balance, are there any penalties, etc.

5.       Marketing Tools

-          We will be discussing what kind of marketing tools to use for the property and discuss which the appropriate one to use for the property is. Marketing is important because it helps us expose the property to as many people as we can. Some marketing tools include For Sale signs, Kijiji, Craigslist, Newspaper Ads, Open Houses (when? And how often?), etc. other than for MLS listings.

-          We also need to consider the possibility of home staging, repainting, decluttering the home, minor/major repairs, etc.

6.       Showing instructions

-          Are we going to be using a lockbox?

-          Will the owner be present whenever we have a client?

-          Informing clients whenever showing is booked.

7.       Listing forms

-          Data sheet

-          FINTRAC

-          Working with a Realtor

-          Showing instructions

-          Mortgage Verification

-          Client Profile Sheet

-          Buyer Representation Agreement

-          All of these forms must be filled in and signed

-          All parties will receive a true copy of all paperwork

8.       Feedback

-          Follow up with showings

-          Inform client of any offers that have been presented

9.       Conditional offer

  • There may be an agreement with conditions such as condition on financing, home inspection, obtaining satisfaction on home inspection, satisfactory review of condo status certificate, depending on the circumstances.

10 .     Waiver

After waiving all the conditions, the agreement will be firm and binding.

11.      To do list

Make sure to sign up for change of address at the post office and all appropriate notification of change of address. If you have children, apply to the schools that are in your area.

12.      Yard sale

If you’re moving from another home, you may want to have a yard sale before you move into your new home.

13.      Movers

Hire movers and prebook for moving. (Good to avoid either first or last day of the month)

14.     The buyer will most likely make visits before closing so the buyers can either recheck or get the estimate for possible renovations, painting, etc. of the home again before the actual closing date.

15.     Someone from the bank will also come for appraisal purposes

16.     Closing

  • Call lawyer a week before closing to verify that all paperwork is complete.
  • Seller meet with lawyer and sign all of the necessary paperwork needed to complete the transaction. Title to the property is transferred from you to the buyer. The buyer will receive the keys to the property from their lawyer and you will be getting payment from your lawyer. From the listing brokerage trust account, the title representative subtracts the funds to pay off the existing mortgage and other transaction costs

17.     Moving Day

  • Try to move out of the house before the closing date but latest before lunch time on closing date.
  • Make sure the home is clean, no debris, no garbage, etc

Contact Me

Michael Park Broker
Royal LePage New Concept, Brokerage Independently owned and operated
5 Glen Cameron Rd Unit 5
Thornhill, ON   L3T 5W2

Phone: 416-223-3535Mobile: 416-417-4326Fax: 905-597-7731
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