Transaction Processes - Selling or Buying

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Transaction Processes - Selling or Buying:

Transaction Processes - Selling Transaction Processes - Buying
  • Evaluate your goals and expectations, then plan your schedule ahead of time.
  • Compare the tools you would use to sell your home and the possible costs. Do you plan to buy a new home after selling your current home? Would the NET PROCEEDS of the sale meet your requirements?
  • Determine on a working module that would produce efficiency and the best possible results. What are the differences between selling the home on your own or hiring a professional real estate agent to do the job? What is "Multiple Listing Service®" or "MLS®"? What is EXCLUSIVE listing?
  • Compare the differences between working with us and with other agents. Find out how our "services for sellers" could benefit you!
  • Preparation before listing/advertising the home for sale: Renovation or repairs.
  • Preparation before each showing: Landscaping, clean up, lighting and neatness. Stay home vs. absence from home.
  • Advertising & showing of your home. "For Sale" sign, open house, activity report, detailed website advertising, etc. Find out how these services are being provided by us and by other agents.
  • A buyer is found!
  • Contract of purchase and sale ("offer"). Comparative market analysis ("CMA"). Negotiation of price and conditions of the contract.
  • Acceptance of offer. Initial deposit to be placed in trust.
  • All conditions are satisfied ("subject removal"). Increase of deposit by buyer. Contract being firm and unconditional.
  • Appointing seller's conveyancing representative (lawyer vs. notary public).
  • Preparation for moving: Notices of change of address, packing and mover arrangement, discontinuation of utility accounts of existing home, applications for new utility accounts of new home.
  • Completion of transaction. Net sale proceeds.
  • Clean up home and remove unwanted items. Hand over keys.
  • Evaluate your goals and expectations, then plan your schedule ahead of time.
  • Verify your financial capability. Identify what are the costs and the total amount you would have to pay to purchase your home.
  • Determine on a working module that would produce efficiency and the best possible results. What are the differences between working with a real estate agent or working on your own? What is an Exclusive Buyer Agent Agreement?
  • Compare the differences between working with us and with other agents. Find out how our "services for buyers" could benefit you.
  • Start searching for your dream home - Have to be realistic, too!
  • The home you like is found!
  • Study the comparative market analysis ("CMA") and determine the market value of the home. Estimate the total cost of purchase.
  • Write an offer to purchase.
  • Acceptance of the offer by the parties (both the buyer and the seller). Payment of initial deposit by buyer.
  • Conditions precedent. Use your best effort to satisfy the conditions - relating to mortgage, building inspection, title search, review of strata documents (bylaws, budget, financial statements, minutes of meetings, special reports, strata plan), etc.
  • Conditions are either fulfilled or waived. Increase of deposit by buyer. Firm and unconditional contract.
  • Appointment of buyer's conveyancing representative (lawyer vs. notary public).
  • Preparation for moving: Notice to landlord to terminate an existing tenancy (if renting). Notices of change of address, packing and mover arrangement, discontinuation of utility accounts of existing home, applications for new utility accounts of new home.
  • Completion of transaction. Final payment (balance of purchase price or "down payment" plus mortgage loan, plus payment of adjustments and fees for the conveyancing representative). Transfer of title at the Land Title Office.
  • Possession: Move in on possession date vs. Decoration/renovation before moving in.
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