Marketing your property with an experienced brokerage with deep understanding of the local market in order to attract the right buyers is the most essential step in this process. Exclusivity with one agent can also give your property the maximum exposure & better offers rather than over-marketing the listing with multiple brokerages. Once you have identified your broker you will sign an Agency Agreement to onboard you as a client.
First impressions can lead to immediate call to action and a quicker turn around. Your broker can advice you on how to stage a vacant property or make an occupied property more appealing to the viewer. Clear, bright, clutter free pictures are important to your listing.
Once you have signed the Agency Agreement the brokerage will arrange an appraisal if required to assess the market value and the latest sale transactions of similar properties in the area. This will give the seller a clear idea of the expected price offer range to assist in you decision.
You can list properties that are still under construction, as well as ready properties. Form A also known as Property Sales Agreement along with property documents is what you need to get started.
Upon accepting the offer price, an MOU also known as Form F will need to be signed by both parties. This agreement will detail all the terms & conditions pre agreed by the buyer and seller.
On the sale side, the seller should budget 2-3% Agency commission and any charges related to mortgage settlement with their bank. Sellers who have a mortgage on their property will need to go through ‘blocking’ and obtain a liability letter from their bank. Cost of NOC & blocking will apply on the seller.
Your broker will ensure a seamless process to completion of transfer. You may even choose not to attend the transfer by issuing a Power of Attorney to conclude the transfer on your behalf.
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