There are many activities involved with buying a property. Please read these steps to help you down the right path, ensuring your satisfaction and confidence throughout the process. You will also find here:

• A list of the costs to expect when selling a property , and
• Moving tips

STEP 1: Contact Geon to let him know that you are interested in selling a property.

STEP 2: Geon will send you a pre-listing information package for you for your review.

STEP 3: You will meet with Geon to inspect and discuss your property. Geon will talk to you about how the current real estate market affects you as the seller. The listing agreement will be explained, which you will be asked to sign once you feel comfortable with Geon acting as your exclusive agent to aggressively market your property. The agreement that is set for a specific time period, and commits you to a pre-established marketing fee that is to be paid upon the successful closing of the sale.

STEP 4: Setting a sale price of your property is perhaps the most difficult and yet critical step in the property-selling process. One of Geon’s most important roles is to help you to decide upon and negotiate a realistic price that meets your sales objectives. Factors such as competitive market analysis and market value will be used to help determine the price you want to sell your property for, which will then be included on the listing agreement.

STEP 5: Geon will create a specific, customized, plan to market your property effectively, including a detailed daily schedule of each task necessary to market your home. This marketing plan will also schedule a number of follow up report times with you, to ensure you are kept abreast with the process of selling your property. Your property will be aggressively marketed and promoted in many ways. Marketing strategies & tools include:

• Setting the right price
• Putting your property on the MLS (a computer-based system that makes your property details available to a vast network of realtors who will seek to match your property with a buyer).
• Listing your property on award winning, global web sites such as PropertiesInStyle.com, RoyalLePage.ca and MLS.ca
• The “For Sale” sign, placed on your property within 24-48 hours of the signing of the listing agreement.
• Open houses for real estate agents, arranged as soon as the property is listed, so they can preview it for their clients and customers.
• Open houses for the public, held as appropriate, with your approval.
• Individual showings
• Classified advertising.
• Informative feature sheets.

STEP 6: T hese are the items you'll need to pull together in order to get your home listed, as well as to create an MLS profile of your property:

• Title deed (evidence of ownership).
• Mortgage documents, describing the mortgage details on your home.
• Copy of the Tax Bill and most recent assessment.
• List of improvements made to the property during your ownership.
• Copy of the existing Ontario land survey of the property (if freehold).
• List of home inclusions/exclusions, such as chandeliers, appliances, blinds, etc.
• Preferred possession date (e.g. 60 days, immediate, TBA).
• Summertime photos of the outside of the home including the garden, if available.
• An extra set of keys.
• A list of rental Items in the home, such as hot water tank, alarm system, etc.
• A list of utility costs, such as hydro, gas and water.
• Condominium or co-op housing documents, a description of the organization structure of the condominium corporation, how the property is managed and a declaration containing the by-laws and rules governing ownership.
• List of parking space(s) & locker number(s), if any.
• List of pet restrictions, if any.

STEP 7: Now that your property is listed, potential qualified buyers and their agents will be touring your property regularly. During this period it is extremely important to keep you property looking it best, as first impressions are lasting impressions. Tips on how to stage your home.

STEP 8: When your property first comes out on the market, the most crucial time is approximately the first two weeks. Expect numerous showings and lots of activity. This is the time when real estate professionals sit up and take notice and where the right price plays and important role. You will be given as much notice as possible before the showings. Geon will alert you about each of the showings with as much notice as possible. It's always best to try and not be present at your property at the time of each showing.

STEP 9: When your property is eventually presented with an Agreement of Purchase and Sale (APS), Geon will receive the presented offer on your behalf. Together you will review the offer, in which you can do one of three things: accept the offer, reject the offer, or submit a counter-offer to the buyer. The counter offer may be in reference to the price, the closing date or any number of variables. The offer can go back and forth until both parties have agreed to all terms in the offer. There are two types of offers that you may receive:

Firm Offer To Purchase means that the buyer will purchase the property as outlined in the APS and that there are no conditions attached. Once you, the Seller, accepts the offer, you are both bound to the agreement. The deal is firm.

Conditional Offer To Purchase usually means that the buyer has placed one or more conditions on the purchase, such as ‘subject to financing', ‘subject to a home inspection', ‘subject to review of the condominium documents'. Once the conditions are met, the buyer will be obligated to buy your property. The deal is firm.

In a hot real estate market like Toronto, it is also often common to receive multiple offers on a property if the price is right. A multiple offer is when there is more than one party vying to purchase the same property. This process is complex and Geon will carefully guide you through it in great detail if the situation arises. In this current market, where there are more buyer than sellers, a multiple offer situation is not uncommon.

STEP 10: The offer will only be accepted once all conditions have been satisfied and removed from the offer. A financial deposit is required form the buyer, as a symbol of commitment and good faith to the Offer to Purchase and is made payable to my firm, Royal LePage Real Estate Services Ltd., in trust, where it will be held in a trust account until closing.

STEP 11: On closing day, the title of the property is legally transferred and the transfer of funds is finalized through the Financial Institutions. The buyer’s lawyer will supply the buyer with the keys to the property as well as the deed.

STEP 12: Move out! Here are some suggestions for making your move as smooth as possible.

Geon’s real estate involvement as your sales representative for this property does not end when your property is sold. He will be there to assist you in other future real estate matters, perhaps buying your next property. Feel free to contact Geon at any time during, and after, the selling process if you need further real estate advice or guidance.

Costs to Expect when Selling a Property

Adjustment
An adjustment normally refers to those items requiring apportionment as of the date of closing. These include mortgage interest, property tax, private utility charges and non-metered costs of fuel (e.g. oil in oil tanks).

Discharge of Mortgage Penalty
There may be a penalty (e.g. 3 month’s interest), the interest differential between an old and new mortgage or a combination of the above. Check with your lending institution regarding the type of mortgage you have and the types of privileges and/or penalties you my encounter, or Geon can check with a Mortgage Verification form.

Legal Fees
Charged by your lawyer, plus disbursements.

Real Estate Agent(s) Commissions
The fee that is paid on successful closing of the sale of your property.

Tips for Moving House

General Moving Tips

• Get change of address cards from the post office and send out well before moving day.
• Have the Post Office re-direct the mail to your new address.
• Cancel any contracted services and pre-authorized cheques.
• Inform any home services such as gardening, dry-cleaning, garbage pick-up, newspapers, magazines, diaper and other home services of your new address.
• Obtain Letter of Introduction from your current bank branch to establish new accounts. Transfer trust or bank accounts and securities.
• Transfer or cancel social, athletic, civic, religious or business affiliations and memberships.
• Arrange for transfer of medical, dental, prescription and optical records.
• Change your address on driver's license, health card effective the day of the move.
• Collect all items out for cleaning, repair, storage such as fur coats and dry cleaning.
• Make special arrangements for moving perishables such as plants.
• Make special arrangements for moving your pets.
• Dispose safely all flammable liquids, as it is illegal for movers to carry them.
• If moving into a condominium, book the service elevator for the day and time of your move.

Tips for the Actual Move

• Book the movers. There is quite a range of quality of movers from the ultra cheap to the companies that will co-ordinate the whole process. It's a good idea to obtain estimate from several different companies.
• Give necessary written notice to your landlord (usually 60 days) and make arrangements for the return of any monies you have on deposit (if you rent your present property).
• Disconnect your telephone, cable TV and water softener.
• Arrange to have the gas, water and electric meters read on the day that you leave and the bills forwarded to your new address (if you own your present property).
• Have your oil tank read and filled before the sale closes, and provide a receipt to your legal professional if required (if you own your present property).
• If any of the mechanicals of the property, for example hot water tank, furnace etc., is rented, arrange for a transfer of the rental agreement to the purchaser (if you own your present property).

Once at the New Property

Make arrangements for the gas, electricity, water, telephone and cable TV to be connected on the day the sale closes.

How much is your property worth? Find out with Geon’s free home evaluation.