- Choose a real estate agent: Find a real estate agent who specializes in the local market to help guide you through the selling process. The agent can conduct a Comparative Market Analysis (CMA) to determine the list price of the property, advise you the tips of selling, and list your property on MLS (Multiple Listing Service) to reach potential buyers.
- Prepare your property for sale: Before listing your property, you may want to gather all necessary documents, such as RPR, land titles and condo documents. You may also want to do some cleaning, repairs or staging of your home. RMS measurement is a necessary step to take in Alberta. Photographs and videos are also important in marketing your property. You can talk to your real estate agent for recommendations.
- List your property: After making necessary preparations of the sale, you and your agent can conclude a listed price and have your property listed on MLS (Multiple Listing Service), which will visible to the public.
- Market your property: Your agent will market your property through various channels, such as online listings, social media, virtual tours and open houses. They may also create marketing materials, such as flyers or brochures, to distribute to potential buyers.
- Receive and Negotiate Offers: When a potential buyer is interested in your property, they will make an offer to purchase. Your agent will help you review the offer and negotiate the conditions, terms and price at your best interest. Once you and the buyer have agreed on everything of the sale, you will sign a Purchase Contract.
- Satisfy and Waive Conditions: The buyer usually has two weeks to do the inspection, condo documents review and finalize mortgage approval after they have signed the purchase contract. If all conditions are satisfied, the buyer will sign the waiver of conditions. If there are any changes to the price or terms, the buyer and the seller will sign an amendment.
- Prepare for possession: You will need to work with a real estate lawyer to sign the legal documents of closing. Unless the buyer assumes the tenants, you may need to vacant the property in most circumstances, and make any repairs or cleaning that you have agreed on writing.
- Close the sale: When your lawyer receives the funds from the buyer’s lawyer, a bank draft will be issued to you after calculating any outstanding bills, such as property taxes, condo fees owed, or lawyer’s fees. Your lawyer will also notify you and your real estate agent the status of the sale on possession date.
***Disclaimer: Please note that the information provided on this website is intended for general informational purposes only. We do not make any representations or warranties, whether express or implied, about the completeness, accuracy, or reliability of the information contained on the website for any particular purpose. Your reliance on such information is therefore strictly at your own risk, and we shall not be liable for any direct or indirect losses or damages that may arise.***
