Seller

“Guelph has one of the healthiest real estate markets in Canada”

Guelph has one of the healthiest real estate markets in Canada so we don’t believe that selling your home here should be too difficult, but there are a few things that can hinder this. Depending on house inventory levels, Guelph can be in either a Buyer’s Market or a Seller’s Market. A Buyer’s market means that there is high inventory for Buyers to choose from, which may result in a longer wait time for your house to be sold and possibly at a lower price. In a Seller’s Market however, inventory levels are low, leaving little choice for Buyers. This can result in multiple offer situations and bidding wars. Typically, in a Seller’s market your home can be sold in a matter of days and sometimes at a price above asking. This is still dependent on other factors such as proper pricing and getting your home ready to sell.

Getting your home ready to hit the open market is often something many Seller’s overlook. When getting your home ready to sell it’s important to keep your house clear of clutter and show potential Buyers the use of space. This way potential Buyers can easily see themselves living there, making them more willing to move ahead with an offer. Not only do you want to make sure your home is ready to hit the market, you want to make sure your home is properly priced to attract the right Buyer. If your home isn’t priced properly then you risk missing potential Buyers and risk making your house sit on the market for a longer period of time than expected.

FORMS EXPLAINED

Working with a Realtor

Working with a Realtor is a form which describes real estate services between the consumer (you) and the real estate brokerage. It outlines the different types of service relationships that are available, client & customer, which defines the type of relationship the consumer and the real estate brokerage will have moving forward. It is important that you as the consumer understand these different types of service relationships available explained in the Working with a Realtor form.

Listing Agreement

The Listing Agreement is a contract between a Seller (you) and a real estate brokerage. It gives the real estate brokerage permission to act on the Seller’s behalf when offering their home for sale in the open market. This must be signed prior to offering the home for sale with a real estate brokerage. This contract outlines the specified time period for working with that real estate brokerage, the fee to be paid out to the real estate company and authorizes the real estate brokerage to cooperate with any other real estate companies in order to sell the home. Details on how commission will be divided to the listing and cooperating brokerage will also be outlined here. It is important that you review this document carefully as it defines your relationship with your realtor and their brokerage and how they will represent you.

FEES EXPLAINED

Lawyer Fees

Lawyer fees can vary depending on which lawyer you use and what types of law they practice. The total cost of lawyer fees also varies depending on whether you are buying or selling a home, having lawyer fees less expensive if selling. When selling a home, lawyer fees can be less since a seller only needs to pay the legal fees as no Title Search or Title Insurance is required. The cost of the legal fees is dependent on how much your lawyer charges.