Sell Your Property
A Simple Guide to Selling Your House with Real Pavel
Are you looking to sell your house? Considering your property is in excellent condition with no need for repairs, it would sell in no time, right? Well, selling your house is not as easy as it seems.
Being in the business of buying and selling houses in Toronto, our realtor Pavel Shaganenko has seen people selling their homes for various reasons. And, almost every home seller will vouch for the fact that putting your house on the market and getting it sold is a long drawn process. Without the proper guidance from an experienced real estate agent, it is easy to feel lost or frustrated waiting for potential buyers to show interest in your house.
After years of studying the housing market in Toronto and GTA, we at Real Pavel are here to expedite the selling process of your house. Our expertise ensures that you always get the best price deal for selling your property.
Here's a step-by-step guide on what to expect while selling your house with Real Pavel:
1. Understanding your needs and concerns
Selling your house is not just a big financial decision. Your attachment and memories with the home add an emotional aspect to your decision-making process. Real Pavel understands the emotional dilemma that you might face while selling your house and helps you make the right decision after taking all the factors into account.
While you might have your reasons to sell your property and we respect that, knowing certain details such as how urgently you wish to sell and any existing mortgage/financial obligations on the house that you need to fulfill, will help us understand the complete picture.
2. People you need in your team
Rome was not built in one day and it was certainly not built by one person. To successfully sell your house in today’s housing market, you need a team of talented and experienced professionals in your team such as:
- Realtor - From finalizing a selling strategy to preparing a listing and closing the deal, a dedicated realtor is your companion to walk you through the various phases of selling a property. (We’ve got this covered!)
- Home Inspector - They closely examine the house to identify any flaws and damages, and suggest repairs to ensure you get the best deal on the house sale.
- Construction Contractors - Based on the findings of the home inspection, skilled construction professionals can help you repair and renovate your home before putting your house on the market.
- Real Estate Lawyers - From successfully transferring the ownership of the property to taking care of any discrepancies found during the title search, a real estate lawyer helps you close the deal as per the property laws of the city or province.
Real Pavel can help you build a stellar selling team by connecting you with expert home inspectors, best construction contractors and reliable real estate lawyers in the city of Toronto.
3. Home Inspection
While we at Real Pavel, look around your property to gauge the design of your house, its architectural elements, and other amenities, it is highly recommended to get your home inspected by a qualified home inspector. Apart from known issues like basement flooding, a thorough home inspection can lead to findings of serious flaws like mould growth, improper insulation, blockage in exhaust and chimney discharge etc.
4. Selling Strategy
The next step is finalizing a selling strategy that can get you the best deal on your house. A selling strategy is formed based on market conditions, house conditions, and the seller’s personal preferences.
- Market conditions: First and foremost, we analyze if it is the right time to sell your home based on market fluctuations. You may get a better price for your house in a seller’s market when compared to a buyer's market. If selling your house is not urgent, we often recommend to wait for seller’s market before putting the house on the market.
- House condition: The findings of the home inspection say a lot about the home’s condition. Based on your willingness to repair and renovate the house before putting it on the market, we can decide what would be the best price to capture the interest of homebuyers.
- Seller’s Preferences: We figure out the logistics of preparing the listing and house viewing based on your preferences as a house seller. Knowing your answers to questions such as will you be moving out before putting the house on sale or do you have a preferred time and date for arranging house viewing to potential buyers, helps us formulate a plan for the next steps of the selling process.
5. Fixing/Renovating your home
As years go by, most houses undergo wear and tear. Your once brand-new home is not so new anymore. Whether you want to repair the house based on the findings of a home inspection or wish to upgrade some features of your house to attract more buyers, fixing and renovating the home is a crucial step in the selling process. To get the best price for your house on the market, you must consider home renovations. You can rely on Pavel’s vast network of construction contractors and skilled renovation professionals in the city to get the job done for you.
6. Preparation of listing
The quality and accuracy of your listing are paramount to us. After all, the listing is the first impression of your house in the eyes of potential buyers. Here’s how we prepare your listing:
- Aesthetically arrange the interiors of the house to make it look more appealing.
- If you have vacated the house before the creation of the listing, we organize professional staging by hiring exquisite decor, furniture, and appliances to accentuate the elegance of the house.
- Hiring a professional photographer to click classy pictures and shoot elegant videos of your home.
- Preparing a detailed description of your house listing while highlighting important specs about the house.
- Preparing a brief description of the locality and the connectivity of your house with major public amenities.
- Posting the listing pictures, videos, and text descriptions across real estate websites and social media platforms.
- Posting Facebook and Instagram stories of pictures and videos of the house.
- Promoting your listings on Facebook and Instagram.
7. Prepping your house for viewing
Once we have some home buyers interested in your property, we will arrange for an in-person viewing of the house. With proper lighting to accentuate the beauty of your house, we will prepare your house for viewing by creating an ambience of elegance and sophistication. Pavel’s excellent conversational skills will help potential buyers to picture their dream life in your house.
8. Accepting Offers
When potential buyers bid for your home with competitive offers, Pavel will negotiate with buyers on your behalf and help you get the best deal possible. Once a potential buyer submits an Agreement of Sale and Purchase, we thoroughly verify the legitimacy of every document and help you accept the best possible offer.
9. Closing the deal
By working closely with a real estate lawyer, the buyer and the buyer’s realtor, we help you close the deal and complete the transaction with the transfer of property ownership.
If you completed all the nine steps with us, then Congratulations! You officially sold your house with Real Pavel!
Key Benefits Of Working With Real Pavel To Sell Your Property in Toronto
- We believe in a full-service approach, which means that we will work with you to decide on a selling strategy that best aligns with your goals while maximizing the property sale value.
- We have a great network of construction suppliers and skilled tradespeople, who can help you renovate your house, before putting it on the market.
- We can help you connect with some of the best home inspectors, real estate lawyers, as well as mortgage brokers in Toronto and GTA.
- Our knowledge about staging a home can help bring out the best in any property. We understand the importance of staging to make sure that your home looks aesthetically right to attract potential buyers.
- Our proficiency to develop the best-suited marketing techniques to sell your property will ensure that your listing never goes unnoticed. We know how to convert virtual viewing into in-person viewing, to then successfully closing the deal.
- Pavel’s expert negotiation skills will ensure you get the best price in the market for your house.
Ready to sell your home with Real Pavel? Let’s chat - Contact Us!
Frequently Asked Questions
Here are some commonly-asked questions by sellers:
Can I sell my home without the help of a real estate agent?
You can sell your home without a realtor, by listing it in MLS as FSBO - For Sale By Owner. However, there are risks involved in selling as FSBO:
Your listing might not be seen compared to other listings marketed by real estate agents.
You might not achieve the perfect staging and presentation required to attract buyers.
You will have to deal alone with the legal issues involved in selling a house.
It could take a lot of time to sell your house.
You might settle for a sale price way lower than what would be a fair deal.
There might be some unforeseen issues with closing the deal.
Selling your home can be a complex process that involves a lot of time, effort, and understanding of the real estate market. From helping you figure out the base price of your property to promoting the listing across multiple marketing channels, a real estate agent assists you every step of the way. A realtors’ expertise is also required while comparing, negotiating, and accepting offers. Make things easy by working with a REALTOR® like Real Pavel!
How much would it cost to sell my house?
A seller needs to pay the following fixed costs:
Home inspector fees
Real estate lawyer fees
Realtor’s commission (normally 5%, with 2.5% for buyer’s agent and 2.5% for selling agent)
While there are many fixed factors that contribute to the cost of selling the house, whether you are looking to repair and renovate your home also adds to the expenses. It is recommended to fix the damages that were found during the home inspection to get the best possible price on the home. Pavel’s personal network of construction contractors in Toronto and GTA can get the best deals on home renovation for you.
Should I sell my house before I buy a new one?
That’s totally a personal call. If you sell your house before buying a new home, you would need to find a temporary living arrangement till you buy a house again. Apart from your temporary living situation, you also need to consider the expense of moving all your valuables twice - once to a storage space when you are moving to a relative/friend’s house and the other when you move to your new home. Thankfully, the closing of the deal after the house sale can take anywhere between 30-90 days, which gives enough time for the seller to look for a new property to buy and move in.
If you buy a house before you sell your current home, it would lead to double the mortgage expenses and a dent in your savings for raising the deposit for your new home.
When should I sell my property?
While there is no one answer to this question, most realtors believe you get the best price for your house during a seller’s market, i.e. when there are more potential homebuyers compared to the number of properties on sale. The more the buyers, the fiercer the bidding wars, and the higher the selling price of the house. Another option to consider is when other homeowners in your neighbourhood put their property on the market. If a buyer likes your locality but has multiple houses on sale to choose from, it could dent your chances of selling the house. You must also keep an eye out for benchmark pricing in your neighbourhood. If the houses in your locality are appreciating fast drastically, it might be the perfect time to sell your house. When you work with Real Pavel, you don’t have to keep your eyes peeled for benchmark pricing as Pavel keeps a close watch on house appreciation trends in your neighbourhood.
Do I really need marketing strategies to sell my house?
Many sellers think an MLS listing is good enough to sell the house. Well, they can’t be more wrong. While MLS listing is a good starting point to let potential buyers and their realtors know about your property, you need a well-thought-out marketing strategy that promotes your listing in conventional and unconventional ways. We at Real Pavel follow an array of marketing tactics including posting listings on Realtor.ca, Padmapper, etc., attracting potential homebuyers through social media listings and paid promotions, posting high definition pictures and videos online, shooting virtual tours videos, drone videos, organizing virtual staging, and much more. Our out-of-the-box promotional strategies will ensure that your property gets the best exposure in the market.
What happens to my existing mortgage when I sell my house?
There are a few options to help you deal with the mortgage on the property you are selling. If you have paid a major chunk of your mortgage and built home equity, you can foreclose the mortgage with the money from the buyer. However, closing the mortgage before time can lead to penalties. You could also port your mortgage, which means you can transfer the mortgage at the same rate to your new home. There is also the option of the buyer taking over your mortgage but the buyer needs to qualify for the mortgage from your lender. To know more about mortgage options, check out: https://www.canada.ca/en/financial-consumer-agency/services/mortgages/choose-mortgage.html.
Why is it taking so long for my house to sell?
Selling a house can take its own sweet time. But if it has been months since you put your house on the market, and no offers have been made, it may be because of the following possibilities:
Your asking price is way above the fair price for your home.
The location of your home is not ideal for a family. Lack of good schools, restaurants, medical amenities in the neighbourhood can negatively impact the selling process.
Your house hasn’t been marketed well enough online to get buyers excited.
Your house wasn’t staged well during the buyer's in-person viewing.
Market conditions play a huge role. While a seller’s market can attract a lot of competition among buyers, a buyer’s market allows buyers to take their time and consider other properties before they make you an offer.
Seasonal factors can impact your house sale. While summers have generally proven to be a great time to sell a house, listing your house for sale during winters might not attract enough attention from the buyers.
Get in touch with your realtor and discuss solutions to these potential issues that are plaguing your property’s selling chances in the market.