Want to sell your property? Ask yourself these questions before you prepare for selling!
When is my current mortgage due?
It is very important that you know when your current mortgage is due. You need to speak to your bank and see if you can transfer your current mortgage to your new home if you decide to move. If you cannot, what would be the fine for cutting your mortgage term shorter? What other options will you have?
Do I want to place the property during the winter or summer?
Selling your property during the winter is easier to catch those serious buyers. The selling price is usually closer to the market value.
When do I need to move out?
Sometimes if you want to sell your house at a good price, you will need to be fairly flexible with your moving out date. What if your new home is not ready? What if you cannot rent a place for just 6 months? Where should I store my items if I cannot connect to the selling and buying transaction?
Where do I want to move to?
Do you have your new home ready? If you cannot find your new home on time, where will going to stay? Are you going to rent a place or live with your relative(s)? Plan ahead and talk to your family. Make 2-3 options so that you will not panic during the selling process.
Do I want to have some basic renovation done before I put the house into the market?
How much renovation would I want to do? How much does the renovation cost? Will the selling price be higher than the cost or it would it just be an over-improvement? If I decide not to do anything, how much of the price will be deducted from the selling price?
What kind of documents do I need to prepare?
Do I have the Survey of the property? (You don't need to have one unless requested from the buyer). Do I have the most updated tax bills? Do I have the contract with all the rental items? Do I have the manual, receipts or contract of all the appliances, furnace, roofing, garage door, etc.