How to Sell a House Privately in BCMarch 19, 2020
Knowing the basics of how to sell a house privately in BC can help you to decide whether or not you want to hire a realtor or sell your property on your own. Selling property can be stressful, but with some preparation, the right knowledge, and a notary backing you up, it is possible to keep some money in your pocket. At Sidhu & Associates, we have a wealth of experience with real estate and conveyancing and we are always happy to help our clients meet all of the legal requirements involved in property sales
For Sale by Owner: Steps to Sell Your Own Home
If you intend to sell your own home, it is important to be aware of the steps involved. A notary or lawyer is required for the sale of any property, so make sure that you have options lined up ahead of time.
Before taking any action, do plenty of research on other homes for sale and the paperwork and legal requirements. It is best to find a good notary public at this time so that they can walk you through the paperwork involved and ensure that you do not miss a step. Look at other houses with similar layouts and note their price, condition, and location, and keep up on how fast different types of homes are selling in your area.
2. Prepare the Property
Clean the house and fix any issues that you can with the property to prepare it for assessing eyes. Make sure that everything that does not need to be present in a room is in storage to reduce clutter.
3. Get a Property Evaluation and Inspection
If you are selling your home, you will need to get a property evaluation from an accredited company. This can be done by the buyer as well but, if you can present this to a potential buyer, it will smooth out the sale process. A property evaluation will also help you to set a realistic price for your home. The property inspection will help to clear your home of any issues, and any informed buyer will require that this be done before purchase.
4. List Your Home
Listing your home on database websites like realtor.ca and REW can be one of the best ways to get the word out about selling your home. Buyers and realtors constantly browse these websites and will be able to find your listing easily. You can also use social media, which has been steadily gaining popularity in the past years for homeowners selling their own homes.
5. Showing and Selling Your Home
Welcoming strangers and potential buyers into your home might seem strange, but very few people will buy without first conducting a viewing. Make sure that you read up on home staging techniques and help the visitors feel welcome. Once you have a buyer on the hook, get in touch with your BC notary to move forward with the sale.
6. Finish Legal Documentation
Your notary can help you to finish all legal documentation involved in selling your own home in BC. Some of the documents you will need to complete include but are not limited to:
- Seller’s disclosure
- Buyer’s advisory
- Purchase contract
- Preliminary title report
- Mortgage payoff
- Home warranty order forms
- Home inspection order forms
- Buyer’s cost sheet
If you are interested in learning more about how to sell a house privately in BC, or if you are interested in any of our services, please contact Sidhu & Associates at 604-859-4825 or fill out a contact form on our website.