Part 2: Selling your Lake Of Bays cottage or home? Andrew can help!

PART 2 of:  Selling your Lake Of Bays cottage or home? Andrew can help!

1. Determine your Lake Of Bays cottage or home’s asking price

Lots of people out there want to buy your Lake Of Bays cottage or home. The right asking price will attract attention and get you maximum return. With the help of a Andrew Bulloch you can set a fair market value on your Lake Of Bays cottage or home to get the most out of interested buyers.

You don’t want to set your price too low or too high

Setting too low a price
means you could miss out on thousands of dollars that some buyer would have paid.

Setting too high a price
can scare away willing buyers and leave your Lake Of Bays cottage or home on the market for too long. When you lower the price, people may assume you are under pressure to sell, and lower their offers even further.

Andrew Bulloch knows the general factors affecting your market
Maybe larger families are moving into your neighbourhood. That makes Lake Of Bays cottage or homes with three plus bedrooms and large yards more appealing. Perhaps a large employer is opening a plant nearby, which will increase demand for housing in general. How are interest rates affecting people’s willingness to take out big mortgages? You can ask your Andrew Bulloch these questions and, more importantly, how he or she can affect the price of your Lake Of Bays cottage or home.

Andrew Bulloch can calculate your Lake Of Bays cottage or home’s value within your market
Using the extensive background information available to Andrew Bulloch through a real estate Board’s MLS® System, they can compare your Lake Of Bays cottage or home to a collection of similar Lake Of Bays cottage or homes that have recently been sold in your area. No two Lake Of Bays cottage or homes are the same, but Andrew Bulloch are very good at adjusting their calculations according to the differences.

Yes, first impressions matter
It’s nearly impossible to replace the initial flurry of interest and activity a new listing will generate. Andrew Bulloch in your area will want to see your Lake Of Bays cottage or home right away and tell their buyers all about it. Be sure you’re priced and poised to capitalize on this first wave of excitement.

2. Sign a listing agreement

Signing the listing agreement officially gives Andrew Bulloch the green light to start selling your Lake Of Bays cottage or home. See what’s involved.

The “Listing Agreement” authorizes Andrew Bulloch and his brokerage to market and sell your Lake Of Bays cottage or home.

This agreement serves three purposes.

  • It defines your relationship, including the limits of Andrew Bulloch’s authority.
  • It provides detailed information about your Lake Of Bays cottage or home which can be placed on a real estate Board’s MLS® System to help potential buyers find you.
  • It forms the basis for drafting offers on your Lake Of Bays cottage or home.

Highlights of the Listing Agreement

Authority
This describes the legal relationship between you and the real estate brokerage, and sets a time limit for Andrew Bulloch to sell your Lake Of Bays cottage or home.

Exclusive or Multiple Listing Service®?
“Exclusive Listing” means that only your brokerage can find a buyer for your Lake Of Bays cottage or home. Andrew Bulloch will generally recommend a “Multiple Listing”, which allows hime to put your Lake Of Bays cottage or home on a real estate Board’s MLS® System – a great tool to market your Lake Of Bays cottage or home and help find a buyer.

Price
You have the final say over this magic number, but your Andrew Bulloch will have very useful advice on what price will attract buyers. Learn more about choosing the right asking price in Step 4: Determine your Lake Of Bays cottage or home’s asking price

Real estate commission
This may be a flat fee or a percentage of the final sale price. The compensation is agreed upon between you and the individual brokerage.

A physical description of your property
Andrew Bulloch will itemize the lot size, your Lake Of Bays cottage or home’s age, the style of construction, number and size of the rooms, and any outstanding selling features such as “backs onto ravine” or “fabulous kitchen renovation”.

Legal information
This includes the lot number, land surveys and the zoning code.

Financial information
Let people know the numbers like the minimum deposit you require or if you have a low-interest rate mortgage that can be assumed.

Completion date
This lets everybody know how long you need to move out once your Lake Of Bays cottage or home is sold. 60 or 90 days is typical, but if you can be flexible this may help sell your Lake Of Bays cottage or home faster.

How the Lake Of Bays cottage or home will be shown
Andrew Bulloch can make the arrangements for viewing appointments. Any specific instructions, such as “make sure the cat stays in” can also be noted.

What exactly is included in the price?
Chattels and fixtures Chattels are moveable items like washers and dryers, microwaves and window blinds. They’re not automatically included in the sale, but sellers will often include them to sweeten the deal.

Fixtures are permanent improvements to a property like central air conditioning, installed lighting and wall-to-wall carpeting. Fixtures are assumed to be included in the sale of the Lake Of Bays cottage or home unless you note otherwise. Maybe the dining room chandelier is family heirloom that you wish to take with you. The line between chattel and fixture can get blurry, so go over every item with Andrew Bulloch.

To be continued…