THE AD MARKETING GROUP

  Alan Davies
   REAL ESTATE TEAM
   "Friendly Professional Service"

                     www.alandavies.ca 

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Listing Requirements

Putting Your Home on the Market

The first step you need to take when you want to place your home for sale is called the "Listing Appointment". This is when your Realtor (Alan) meets with you in your home and goes over all of the steps involved in the listing process. The Listing Broker is who the seller hires to represent them through a contract which is called a "Listing Agreement". The listing Sales Representative (Realtor) is associated with the listing broker. The listing broker is directly paid the listing commission and then splits it with the listing Sales Representative.

The Selling Broker is the individual who produces a buyer for the property and divides the commission with a listing broker. This type of transaction is considered a "co-operative" sale because the house is listed by one broker, and a buyer is provided by a second broker. If the listing broker also produces the buyer, then the listing broker receives both the listing and selling sides of the commission.

At the Listing Appointment

We will research the recent sales of homes in your area comparable to your home as well as the comparable homes currently for sale. At the listing appointment Alan will want to inspect the entire home, its floor plan and the yard to become familiar with all of the selling features. We will want to know about the unique features of your property and surrounding area including nearby schools, daycare, churches, rec centres, transit and other community amenities. Potential buyers and their real estate agents will be "comparison shopping" just like we do and we need to let them know why they should choose your home.

Our Highlight Sheet

To enable us to prepare a Highlight Sheet on your property the home seller needs to provide a number of documents and information specific to the location and jurisdiction. The Highlight Sheet is placed in the home for prospective selling Sales Representatives. We ask that you collect these documents before the listing appointment. The following is a list of the required documents:

Assessments/Easements - We will ask the home seller if any tax assessments or easements exist on the property that must be paid or included in the purchase contract and passed on with the land when sold.

Order Lender Appraisal - Lenders will usually require an appraisal to assure that the property is adequate collateral for a loan. Appraisal may be ordered before (paid by seller), but it is more often done after an "offer to purchase" is accepted (paid by buyer)

Property Taxes/Condominium Fees - Home seller provides a record of property tax or condominium fee payments which buyer will reimburse on a prorated share to home seller at settlement. Many lenders of new mortgages may require an inspection certificate that shows that a house is free of major defects.

Septic and Well Inspection - If the property is on septic/well, current inspections by local health authorities are required while the home is occupied. Listing Sales Representative will usually arrange for inspection after the contract is ratified.

Utilities - Home seller should provide a record of past 12 months of utility bills, including gas, electric, sewer, water, and trash where applicable. Most buyers will want to know the history of utility costs.

Homeowner Documents - If applicable, provide us with the following documents: the deed, house location survey, condominium bylaws or homeowners association documents, subdivision map, house floor plan, previous title search abstracts, legal description of property, (subdivision, section and lot), warranties on major systems or Home Owners Warranty, if still in effect, a copy of any existing alarm system contract, and a copy of the homeowners insurance policy for endorsement in purchase contract.

What Conveys?

In anticipation of a buyer's offer, the home seller must be ready to supply us with a specific list of the personal property that is included in the real estate property for sale. Examples of items to "convey" may include; draperies, drapery rods, remaining heating oil, firewood, washer, dryer, refrigerator, stove, freezer, microwave, disposal, swimming pool chemicals and accessories, awnings, storm doors and windows, screens, blinds, shutters, window air conditioner, alarm system, etc. The Home Seller should tag or remove items which do not convey.

Listing Agreement

When the home seller is ready to place the home on the market, the listing agreement is filled out indicating a specific period of time the agreement is in effect called the "listing period", and is signed by the seller or sellers. Now it's time to get your home sold for the best possible price.

 

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    Alan Davies REAL ESTATE TEAM - "Friendly Professional Service"

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                                                                          Pro-Vts 2011 Concepts ..... Copyright © Alan Davies Real Estate Team. All Rights Reserved.