SELL THAT HOUSE LIKE A PRO!

            There is nothing worse than thinking the house is sold, only to have the whole deal fall through because no one could find one document!

            Attention busy home sellers:  here’s a suggested list of things to gather before you put that property up for sale.  Because we all want a smooth and efficient process.

1. Pick your lawyer early, when you have lots of time. Many lawyers will charge a fixed price to sell a home.  You can shop around for price, or meet a few lawyers for personality fit, or simply use a friend’s recommendation.  For a simple home sale, lawyers are very familiar with this transaction.  If you’re processing an estate, it is probably most efficient to use the same lawyer for both the estate and the property sale.  And by the way, usually you don’t need to pay “cash” up front for the lawyer’s services:  they simply take their payment from the proceeds of the home sale.
2. Ask your lawyer to “pull title.” Make sure there are no surprises that should be dealt with right away.  For example, sometimes a loan still appears on the title long after it was paid – usually a simple clerical error.
3. In Alberta, most properties are sold with a “Real Property Report (RPR).” This is a document that shows the land and property, and any other structures on it (deck, fence, workshop/garage, etc…).  When you bought your property, there was probably a RPR in that package.  However, many lawyers and real estate agents will want a RPR that is less than 5 years old.  If you need a new one, make sure you share the old one with the survey company, as this can decrease the cost of the new one.  Even better, use the same survey company—they might have the old one on file and simply need to update it.
4. Ask your lawyer and/or surveyor if the RPR is in compliance. This means that all the structures are in alignment with all the bylaws in your area.  If something is off, that’s ok, but better to know up front.  A lawyer or your agent can advise you how to proceed.  A new RPR may need to be checked by your municipal office for compliance, and this may take time.  So much easier to do when you plan ahead!
5. Annual mortgage statement. Why pay extra for a legal assistant to go hunting for documents that you probably already have?  And these days, its usually easy to pull up your statement online.
6. Annual property tax statements. When a property is sold, the lawyers figure out exactly who is responsible for taxes before and after the closing date.  Again it just makes your lawyer’s team’s job easier if they know exactly what tax account they are looking for.
7. Potential Wrinkle: Does anyone else have rights to any profits from that house?  For married couples, both partners have ownership –even if only one is on title.  For common law couples, it can be the same thing—but ask your lawyer’s advice!  And for divorced/separated couples, life will be easier if you ask your lawyer up front.  There are solutions, but when an ex finds out just before closing … well let us simply say that’s a mess that causes all kinds of problems.  No one wants to lose a buyer at the last minute!  The more you and your lawyer or real estate agent can streamline the closing process, the happier everyone will be.
8. Do you have any home repair or home upgrade documents? For example, if you installed a new furnace, or replaced a roof?  Another example is if you upgraded a kitchen—and is it still under warranty with the remodeller?
9. Any appliance warranties. Yes, these are a nice-to-have rather than a need-to-have, but sometimes every little bit helps.
10. If you live in a condo, those documents will all need to be reviewed. Any paperwork a homeowner can provide can help the process begin while the buyer gets “official” records from the condo corporation or property manager.  Those are very busy people these days!

Bonus:  Some sellers choose to get a home inspection before looking for a buyer.  They want to know if there is anything that can or should be repaired right away.

            Having all the potential paperwork at your fingertips can decrease the time to sell, the objections, and even some of the negotiations.  No one wants to endure multiple showings, then get an offer, then watch the offer fall through—that means starting all over again!  By being proactive and prepared, you’ll be ready to act quickly when any buyer shows interest.

            What if you need to sell an imperfect property?  Fast?!  A real estate agent is one solution; just be blunt and honest up front to help them find the right strategy for the property’s problems.  Another solution is using a professional home buyer.  Rather than buying one house every 10 years or so, these companies buy properties as a business.  Often they are connected to renovators and builders who can figure out something to do, even with the most run-down or problematic properties.  Another benefit is that these are often serious buyers who are simply looking for their next project –not their perfect dream home.  To learn more, check out our website:  https://westerncanadianhomebuyers.ca/.  Or to speak directly with one of our professionals, click on the “Get Started Today” button:  https://westerncanadianhomebuyers.ca/contact-us/. 

Good luck, and happy selling!