Buy or Sell First?
Which comes first, the purchase or the sale, is the greatest dilemma facing home owners planning to move. If you choose to buy first, make sure the offer to purchase is conditional on selling your current home. That way, if you sell your house, both transactions proceed and if you don't sell it, you're not stuck with two houses. Selling first does have several advantages, though. You'll know exactly how much money you'll be netting out of the sale of your home, you'll have a closing date to work with and you'll have extra leverage when making an offer to purchase your next home. Remember, selling first allows you to negotiate the purchase more vigorously, since unconditional offers carry a lot more weight with sellers. And there's always a chance that you'll be "bumped" on a conditional offer (a second buyer could come along with a firm offer and force you to firm up or let the house go).
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Choosing a Real Estate Agent
Your home is probably the most important asset you own. Don't just list it with anyone. Make sure that you are dealing with an experienced, full time real estate agent with an impeccable reputation in your area. Here's what to look for when choosing an agent: · one who knows your local market - the homes that are currently listed for sale and the ones which have recently sold · one who has a strong network of referrals - both satisfied past clients and other agents · one who has a track record of selling homes in your area - experience counts · one with whom you feel at ease - trust that your agent has your best interests in mind · one who can negotiate skillfully · one who understands basic mortgage financing To find a good agent, ask friends, relative and co-workers for referrals, or take a look at your local paper and your neighbourhood for signs of who is active in your area. Take the time to talk with those agents and find out if they know the market, whether you feel they're good listeners and will be able to best represent you in the sale of your home. Ask how they plan to market your home for the best possible sale price.
What to Ask A Real Estate Agent
How many years have you been in real estate sales? · Do you work as a full time sales person? · How many homes have you sold in the past 12 months? · What area do you specialize in? Can you show me a list of your recent sales? · Can I get out of the listing contract if I'm not satisfied with your services? · Do you work with another full time salesperson or assistant to see that no details are overlooked? · Do you have a method for finding buyers? Describe what you do to find a buyer for my home. · Do you have your own personal computer with an organized database of potential buyers and sellers? How will you be contacting these people regarding my home?? · Do you have instant access to the Toronto Real Estate Board 24 hours a day? · Do you have access to the internet? How will you use this to advertise my home to the public? · How will you keep me informed of efforts to sell my home? · Will you produce a professional flyer with information about my home? How will you distribute this? · How will you encourage other agents to show my property? · What kind of advertising will you be doing to promote my home and how often will it be advertised to potential buyers? · How much of your business comes from referrals and past customers? · Do you do anything to prepare a house for the market? What? · Do you have reference letters or testimonial that I may see? · What should my property be listed for? How did you arrive at that price? · How will you assist me in my relocation plans? · Do you have a professional support staff open 7 days a week? · Can you be reached at any time through a 24 hour answering service, pager and cell phone?
These questions will help you determine how well an agent can service your needs. Be sure that you factor in the sincerity and integrity of the agent you are interviewing. Feel comfortable with and trust the agent who is representing you
