Selling Page 2

Selling "Page 2"

Finally, the Listing Agreement also details the financial conditions of the property, including the mortgage balance, mortgage monthly payments and the mortgage due date. It should also provide information about annual property taxes; and references for any easements, rights of way, liens or charges against the property.

Ask your listing Realtor about disclosure, which is a seller's obligation to disclose facts about properties for sale. The buyers will need to know material facts about the property - that is, anything that could materially affect the sale price or influence a buyer's decision to buy it. A major cause of post-sale disputes and lawsuits center around defects and disclosure, but most disputes can be avoided if proper disclosures are made. Intentionally withholding information about a property when selling it can have serious legal consequences.

Another advantage of listing with a Realtor is that only a Realtor is able to place your listing on the MLS® or Multiple Listing Service®. When you decide your listings will be on the Multiple Listing Service®, the information about your property is shared with all other Realtors through the MLS® system, and all Realtors have the opportunity to sell your property. This type of cooperative effort will result in the listing agent offering compensation to the selling agent. Your property gains more exposure, because it reaches the majority of the real estate professionals in your community.

There's another benefit of dealing with a Realtor. Through mls.ca , the national property website, participating local real estate Boards can also advertise listings to potential buyers across Canada and around the world.

Another major issue for anyone selling a property is how much to ask for. Although you may have an idea of how much your house is worth, it's important to have your home valued by a professional on its own merits. Be careful not to price your property too high or too low. If it's too high, there's no sale; too low and you lose on your investment.

A Realtor has the research and expertise to provide a market assessment of what similar properties in your area have sold for. They can also provide information on market history, such as the number of properties sold in your community the previous month or year.

A Realtor also has a number of marketing tools and options to promote your property. First is the mls.ca web site, which attracts more than a million unique visitors a month. It shows the details of your home to local, regional or national buyers looking for a property in your community.

Your Realtor may also recommend an open house as a marketing strategy. There are two types: first is an agent's open house, where sales representatives from the listing company will be invited to view your house. If you have signed an MLS® agreement, other Realtors may also be invited. Remember, each of these Realtors may have a prospective buyer. The second type of open house is a public open house, where members of the public are invited to walk through your home and have a look. It's an efficient way to show your home to many potential buyers at once. The listing agent will act as host, answering any questions.

Selling "Page 3"

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