Selling your home requires some work, including pre-sale preparation for both the interior and exterior of your home. The following tips are tried and true – ways to make selling a bit easier and maybe even more profitable. Try a few out, or if you are a real go-getter, all of them! You are sure to see some benefits if you do.
1. Check if you have a payout penalty on your current mortgage
Do you have a payout penalty on your current mortgage? If you are unsure, you should contact your lender and ask how much it will cost to break your mortgage term early and what costs are associated with doing so.
2. Verify if porting your mortgage an option
If you are purchasing another home, is porting your mortgage an option? This option could save you a costly payout penalty. I would recommend speaking with your lender or mortgage broker if you would like to explore this option.
3. Do you have enough equity in your home?
Do you have enough equity in your home to cover payout penalties, real estate fees and lawyer fees? You must call your bank and find out how much your mortgage balance owing is.
4. Be sure to get a pre-approval prior to listing your home.
Are you purchasing a new home? Mortgage rules are constantly changing and this can affect what you will qualify for on your new property. Be sure to get a pre-approval prior to listing your home.
5. Have an up to date Real Property Report.
Do you have a Real Property Report? Some buyers will request an up to date Real Property Report. If you need a new RPR, this may take up to a month to receive and it could cost you around $800-$1000.00 to have a new survey completed.
6. Disclose any material latent defects when listing your home.
Do you need to complete any repairs on your home? You must disclose any material latent defects when listing your home. The buyer should be aware of any costly issues.
7. “De-stage” your home.
Do you need to “de-stage” your home? (Do you have a lot of personal items on display – you might need to start packing some of your belongings away to prepare your home)
8. Keep your home show ready!
Are you ready to keep your home show ready? Buyers might request a short notice showing so it is good to be prepared at all times.
Contact me for a complimentary Market Evaluation.
I will give you some pointers on how to properly prepare your home.