If you’re looking to move on from your current home, you probably have hundreds of questions running through your head. From carry-over mortgages to timelines, there are many factors to consider – especially if you’re selling and purchasing a home at the same time. Open a dialogue with your agent to ask about what you need to do and when, in order to get clarity on the process – and some peace of mind.
1. How Does This Process Work?
It’s easy to think of ourselves as second-time buyers instead of first-time sellers, but it’s important to ask your agent what your responsibilities are as a seller.
2. What Will I Pay in Commission – With Tax?
Ask your agent about his or her fees – and what you get in return – to strengthen trust between you both. A seller should know what their investment in an agent is going to produce, and factor that commission into their own budget.
3. What Are the Extra Costs Beyond Commission?
As with any major business deal, there are costs that come up as the process moves forward. From hiring a professional stager to last-minute repairs, know what it takes to get the most value for your home. Also, ask your agent about closing costs, lawyers fees and any other regular expenses associated with selling.
4. How do I Maximize Value?
Looking to make the most on your property investment? Ask your agent for suggestions that could add value to your home. Your listing agent will know what buyers want in your particular neighbourhood, and can make recommendations and even arrange for services to be carried out.
5. When’s the Right Time to Put This House on the Market?
If you have time on your side, ask your agent for a selling/buying schedule that makes sense. May is often considered the golden month for selling, but that might not be the case in your area. There are also home-life factors to consider, such as school terms and taking time off work for moving to a new house.
6. Is Staging Necessary?
Staging a home and holding open houses can be tricky when you’re still living in the home. Ask your agent if staging is needed to elevate your listing in your area. Sometimes a good declutter and professional photos can be enough, but in tough, saturated markets, staging can really set your listing apart.
7. What Are You Going to Do to Sell This House?
Ask your agent what he or she plans to do to sell your house. Having a plan in place will make this process feel a little less daunting. There are so many balls in the air and you want to be confident the sales plan makes sense to you. Ask questions along the way and feel secure knowing your agent wants the best outcome for you and your home.
Remember, when the time comes to sell your first home, don’t be seduced by the promise of the next property. Get the scoop on what you need to make the most of your current home by asking the right questions. Happy selling!