London Ontario Real Estate Selling Advice

Serious buyers with money and motivation quickly learn the market value of homes that meet their needs. They usually are not willing to waste time bidding and sometimes looking at overpriced properties.

Benefits of Competitive Pricing

1. A more attractive price yields better exposure to serious buyers
2. Less inconvenience for you
3. Better response to advertising, signage, ads etc.
4. Due to the interest competitive pricing can attract a faster sale with fewer conditions
5. Attracts higher offers, one of the best ways to attract competing offers, either directly or indirectly
6. When a property is priced too high and does not sell in the beginning, the seller reduces the price in an effort to promote a faster sale. As more time goes by, the seller continues to reduce the price. However, because less interest is generated the longer a property remains on the market, the price drops until the house finally sells at a price below market value.

Research indicates for best results: price within 2-3% of the market value.

Here are a number of things you can do to make your house ready for viewing. Attending to them can make a difference of literally thousands of dollars in the market value of the property.

Preparing your home

Click here to view checklist

Remember your stiffest competition is the brand new "model" home your buyer has just seen . . . with no children and no animals!

There are a series of steps an experienced real estate agent will take to give your house the maximum exposure in the first few days and weeks that it can get.

These activities can include:

* Listing your property on the Multiple Listing Service (MLS), to notify the agent network who will bring you specific buyers for your property
* Putting a FOR SALE sign on your property
* Putting a lock box on your door for easy accessibility for other real estate agents
* Making Feature Sheets to highlight strengths of property
* Networking with their networking referral system
* Distributing "Just Listed" cards in your neighbourhood
* Various advertising methods
* Conducting an open houses for real estate sales representatives, agents, brokers and/or the public
* Virtual Open House Tour
o Caravan Bus Tour
o Special Invitation to be mailed to agents with current listings in your area
o Upload information on the internet
o Contacting homes in the surrounding area
o Your agent may or may not need the marketing activities above and probably will have additional activities.

Some of the more common items that may receive attention, and therefore be items for negotiation between the two parties are:

* Conditional on Financing. If the buyer needs to find financing to finalize the agreement or the buyer is already approved for financing and the bank requires a satisfactory appraisal of the property, a condition of this sort is included in the agreement which must be met within a set period of time.
* Conditional on the sale of the buyer's home. Sometimes the buyer, whose home is on the market, but not yet sold, wants to agree that the sale be subject to the sale of his property. In other words the Buyer agrees to buy your home as long as they can sell theirs within a set period of time.
* Conditional upon home inspection by a qualified home inspector. The Buyer arranges and pays for an inspection of the home by a qualified inspector.
* Conditional upon satisfactory home insurance In some instances older homes that have had few mechanical improvements have experienced huge rate increases. These increases have made some properties too expensive to own.
* Closing dates. Some may want or need an earlier or later closing date than you would like. Be prepared for flexibility.
* What equipment, fixtures and chattels of yours are included in the sale price?
* Condition of the house, repairs the buyer may want or need to have done.
* How the mortgages are dealt with (sometimes the buyer asks a seller to hold a mortgage).

This real estate advice is brought to you by Link 2 Realty real estate brokerage in London Ontario Canada. Link 2 Realty provides real estate services to the London Ontario Canada area. If your looking to sell your home contact one of there London Ontario Canada Real Estate Agents today