31 Edenborough Drive, $291,500
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This was my first experience selling privately. I had my house listed during the spring market this year with a real estate agent and ended up with an expired listing after 60 days. Exasperated at shielding calls from Real estate agents to list my house with them, I decided to go the other way. ie.. sell on my own. This was an incredible experience and a proud accomplishment, to say the least. The numerous testimonies of sellers on the website and their experiences were always a constant source of motivation and helped me stay focused. Looking back, the benefits of the private sale were: - control over the showings, which caused less anxiety on a daily basis as we did not have show our house at odd times (like previously with the agent) & we steered most showings towards the weekends. - Control over the negotiating process both in terms of the price , closing date, inclusions etc. -Great exposure on the internet. All smart buyers now look not just on MLS but also on this popular website. -Flexiblity and the ease of making any changes on website at any given time, incl. updates or new pictures I think the most important thing is to stay positive and be patient. When you are dealing with the potential buyers, they appreciate sincerity and honesty, which does help in closing the deal. I will not use an agent again ! For the time, effort and the money saved , it is certainly a very rewarding experience.
| Expenses summary | Monthly | Annual |
|---|---|---|
| Mortgage | ||
| Property taxes | $250 | $3,000 |
| Total known costs | $250 | $3,000 |
So you decided you like this property and would like to make an offer.
Here are the steps.
As soon as possible in your buying process, make sure you can get the necessary financing to acquire the property. Consult a financial advisor and/or get a pre-approved mortgage. You will then know the exact amount of the loan that your financial institution is willing to lend you.
It's important to hire a lawyer who specializes in real estate. You could find yourself in a bidding war for the home you want, and it doesn't hurt to have a lawyer look over any offer to purchase before you submit it. A real estate lawyer will also conduct a title search and check for outstanding taxes and liens on the property.
You can contact your lawyer for help with filling out the offer document, which can be downloaded from the comfree website or provided to you by the seller. You then present the written offer to the seller. This document includes the price, conditions, deposit and closing date. The seller either accepts, rejects or counters the offer (also called "signing back" the offer).
Hiring an inspector is voluntary, but it's a smart idea for resale homes. You can choose to make your offer to purchase the home conditional on the outcome of your inspection. If your inspection reveals major problems, you can negotiate those repairs with the seller before your deal closes, or legally withdraw your offer.
New Home Warranties are typically used when you buy a brand new home. The builder provides a New Home Warranty to cover things like deposits and completion dates, along with labour and materials for at least one year after the home was built. It also protects you against structural problems for a minimum of five years.
Finalizing the deal will include the final approval of your mortgage, a meeting with your lawyer to finalize details like insurance and conditions, and the results of a title search.
There's a lot to do before you move. Line up utilities and other services like phone, cable and internet. If you rent, you must give your landlord notice. Also, forward your mail to your new address and hire a moving company. Preparing these things well in advance will help you make a smooth transition to your new home.
This is the day you legally get possession of the house. Your lawyer completes the paperwork (so the home is in your name), payments are finalized and you receive the deed and the keys. Congratulations on your new home!
ComFree is a team of more than 235 people committed to providing you with outstanding service so you can successfully sell your home.
The members of our team are not registered under the Real Estate legislation unless specifically mentioned.
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