Tips for Selling your Condo
The Canadian Real Estate Association has a comprehensive guide to the process of selling you home and what a licensed REALTOR® will offer you.
crea.ca/public/buying_selling/selling.htm
Guidline to Offers: The Seller Client
An informed seller will be ready to make the right decision when an offer or competing offers are received.
When you hire Maggie Chandler to market your Coal Harbour property, here's what you can expect:
When taking the listing Maggie will discuss the following with you:
- Your motivation for selling
- The impact of current market conditions, average selling time, mortgage interest rates
- Review offer guidelines and explain that competing offers may be received and that you decide whether to disclose the existence and/or terms of offers to other licensees and/or buyers
- Confirm that you - not the agent - will make decisions about how and when offers will be presented, negotiated and ultimately accepted or withdrawn
When the offer is received:
- Advise the seller of the receipt of the offer (s)
- Promptly present the offer(s) unless otherwise instructed (preferably in writing) by the seller
- Discuss the terms of the offer(s) - if competing offers, compare terms
- Inform seller of any other interest in the property
(Potential of other offers/scheduled showings/recent showings that may require followup)
Seller's options - one offer:
Accept, reject, counter, delay during time for acceptance to seek out other offers
Explain pros and cons of each option - including the potential of a buyer withdrawing an offer during a delay.
Seller's options - competing offers:
- Accept one offer
- Reject all offers and encourage better offers
- Counter one offer (may withdraw counter, in writing, prior to acceptance) do not inform other buyers
- Delay acceptance waiting for another offer
- Alert one or more buyers that they are in a competing offer situation
- Alert all buyers that they are in a competing offer situation
- Consider the pros and cons of each option - delaying or inviting all buyers to make their "best" offer may produce better offers or may discourage buyers, who may withdraw.
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