Home Seller FAQ

Home seller FAQ. Frequently asked questions for selling home in Mississauga

Frequently Asked Questions for Selling Home in Mississauga and GTA


Here is a list of some questions that go through a home sellers mind as soon as they start thinking of selling their home. This list is by no means exhaustive but serves as a reference to rule out some of the concerns that you might be worried about.
 

Home Seller FAQ by topic

 

Why Sell with Team Kalia FAQ

Why should we list with you?

Here are the top 10 reasons for selling your home or condo with Team Kalia:

How does your 30-day Sold Guarantee work?

Our promise is based on confidence, backed by our track record, client testimonials and comes with a written guarantee. If your home is not sold within the first 30 days of listing, at the minimum agreed sale price, We will pay you $1,000 cash (or deduct $1,000 off the commission) upon successful sale of your property. The listed price is set at a mutually agreed market value determined on the basis of market conditions and comparable homes. For the purpose of this agreement, the seller agrees to permit sales representatives reasonable access to the property on a daily basis in order to show the property to prospective purchasers. If the Seller receives an offer at or above the guaranteed sale price within the first 30 day period, and the Seller rejects said offer, then this agreement is null and void. This promotion is offered by Team Kalia only, and does not bind other RE/MAX Realtors.

How does RE/MAX brand help in selling my home in Mississauga?

RE/MAX gets you top exposure when it comes to showcasing your listings in Mississauga or in any Canadian city or town. It is a well-known fact that more than 80% of buyers find properties online. Try searching some keywords that buyers type to find homes for sale online: "real estate", "Mississauga real estate", "homes for sale", "condominiums for sale", "townhouses for sale" and you will find RE/MAX website in the top results, always. No wonder why RE/MAX agents close three times more deal than the industry average.

RE/MAX has so many agents, why should we hire you for selling our home?

2018, 2017, 2016 & 2015 TREB statistics put Team Kalia amongst top 1% Realtors in Mississauga and also in postal code L5B, based on number of transactions. Take advantage of our superior selling to asking price ratio and fewer numbers of days on market to net more dollars in your pocket and to sell your home faster. Our popular Mississauga real estate website and condopundit.com blog, our strong online exposure and a powerful social media presence helps in finding many local and international buyers for your property. What does this mean for you? Team Kalia advertises your home aggressively on the Internet and also in your neighborhood using some of the popular traditional marketing tools. Your listing gets an unmatched advantage when it comes to Internet exposure when you list your property with RE/MAX and choose a reputed Realtor Team.

Can you help us Sell our current property as well as buy us a property elsewhere?

Absolutely! If you are planning to sell your Mississauga property to buy a condo or a home elsewhere, you should discuss this during the initial seller consultation, as it becomes part of the overall selling and buying strategy. To buy or sell first is a tricky question and matching the two dates (closing date of current condo and moving date of new property) is a process in itself which needs to be handled diligently. There are so many variables that need to be considered to help you make an informed decision when selling and buying a property at the same time. TeamKalia  takes the pain out of the process for you. They help Mississauga clients sell their properties and buy outside the GTA or sometimes even downsize in Mississauga condos.

Do you maintain a database of buyers and investors?

Team Kalia maintains a database of buyers and local plus overseas investors looking for Mississauga homes and condos. Your listing will be showcased to these buyers before they look at other listings.

What level of service and results can we expect from you?

A friendly, professional and personalized service allows Team Kalia to translate your needs to the last detail, so that when you sell your property, you enjoy not just a hassle free smooth transaction, but also peace of mind. We have a strong network of local realtors and this helps in big way when they show your listing. 

Do you have a team to support you?

A single Realtor with no assistant is weighed down by several disadvantages. He/she has too much to take care of (like photography, website updates, marketing, showings, conducting open houses, negotiating offers and so much more). Team Kalia has an in house marketing manager to take care of marketing and administration side of our real estate business. We also refer you to professional lawyers, mortgage brokers, home inspectors, handymen, painters etc.

How do you communicate with your home sellers and how often?

Like many of the answers to these frequently asked questions, the frequency and methods of communication vary from agent to agent.  Team Kalia promises to keep all our clients updated and apprised of developments related to the sale of your home, from feedback on showings to updates on offer follow-up with other agents. The methods in which team communicates with the sellers can be tailored to suit each individual seller.  If a home owner prefers communication via e-mail, team will communicate via e-mail.  The same can be said about text messaging, phone conversations, or face-to-face interaction.

How do you plan on marketing my home?

A comprehensive marketing plan is something that you should expect from any Realtor when selling a home. We go a step further and beyond! We offer a progressive and a proactive marketing strategy for selling your Mississauga home or condo in 30 days or less. Team Kalia continuously improvize our strategy to make it relevant and effective in the current market scenario. We offer an integrated approach on selling your home, which includes: home preparation & presentation, multi-media marketing plan and multi-tiered web & digital strategy. Selling a home or condo fast and for top dollars in today's market is an art in itself. 

How much commission do you charge?

Choosing a Realtor based solely on the fact they offer the lowest commission amount is one of the biggest mistakes sellers can make when choosing a Realtor to sell their home. Having said that, commission is negotiable and you “you get what you pay for”. While you will receive the highest level of professional service, you can choose a commission plan that you are most comfortable with. Team Kalia can customize the commission plan taking various elements into consideration and ensuring that you receive the highest return on investment (ROI). 

Will you be holding open houses?

It is a good idea to conduct open houses as it provides an opportunity for potential buyers in your own neighbourhood to get purchase your property. If you have any concerns regarding open houses, feel free to discuss with us. It is important you’re on the same page as the Realtor when it comes to open houses.

How long is the contract for and what happens if I wish to cancel the contract before that?

A typical seller contract is for 90 days. Sellers don’t usually think of this when listing their home for sale, but circumstances can change and you may not want to sell anymore, or you may simply not be happy with the work of the listing agent. Team Kalia understands this and offers a no strings attached “cancel at any time” promise, provided the home seller is able to give a justifiable reason, which is something that we are not able to fix.

Where is your brokerage or office located? 

Team Kalia's office is located in the Square One Mall, across Sheridan College. There is ample parking available here. Square One mall attracts more than 24 million visitors in a year (no office can beat the traffic one gets at RE/MAX Real Estate Centre, Square One location in Downtown Mississauga). It is a short walk from many Square One condo buildings and a few minutes’ drive from East Credit, Erin Mills, Central Erin Mills, Credit Mills, Churchill Meadows, Hurontario, Mississauga Valleys and Cooksville neighborhoods. 

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Pre-listing FAQ

I tried to sell myself or with another agent – why did not many people looked at my home?

The reason your home is not being looked at by potential buyers is largely due to price.  If your home is priced too high, buyers will prefer viewing other properties on your street or neighbourhood instead. Buyers get a sense of the property by the pictures or video tours posted on the MLS. If the home is not marketed or shown well, then you will receive less traffic to your home. Other possible reason could be that your home needs upgrades and updates that other homes may already have.
 
When is the best time to sell my home or condo?

Prevalent market conditions dictate the best time to sell your home or condo. Usually, spring is the best time to sell a home.  However, you may need to sell during fall or winter if you are moving into a builder new home as this is when new projects are usually handed over. Start conversations as early as possible with Team Kalia to figure out the best time to sell your home or condo.

What are the common closing expenses for home sellers?

Typical closing expenses for home sellers include real estate commission and lawyer fee. Of course, any upgrades or updates necessary to sell the home will be an additional cost.

What steps should I take to prepare my home for sale?

First impression is the last impression when it comes to selling a home.  When selling a home you must be sure that you have prepared your home in such a way that it presents itself in the best possible light.  Ensure that clutter is at a minimum, odors are non-existent. If necessary give the rooms a fresh coat of paint in neutral shades, install new carpet or flooring if the existing is too beat up.

What is pre-listing inspection and why is it important to sell my property?

Depending on the type (optional for condo apartments) and age of the property, a Pre-listing inspection on the property before putting it on sale might help. This step includes a visit from a professional home inspector who identifies any issues that need immediate attention. The inspector focuses on key areas like: structure, electrical systems, plumbing, heating and cooling. Any major issues if found after an offer has been made, can jeopardize closing of the sale. Buyers will either back out or come back for re-negotiation at a much lower price.  A pre-listing inspection makes buyers confident when they enter bids, in case of multiple offers. This is the most important reason for a pre-listing inspection and you can net you more dollars in your pocket. This is one of the methods that helps us sell properties for more than our peers in the business. This service can be paid by Team Kalia from the proceeds of the sale.

What should I disclose to my Realtor and potential buyers?

When selling a home, it is critical that you disclose any defects or issues that you may be aware of to your Realtor. The Realtor will ensure that this information is added to the MLS listing if necessary or provided to the buyers through their buyer agent. No one likes to be hit by surprises, especially when buying a home. Honesty always pays! It can help avoid a deal from falling through or saving you from potential lawsuits.

Should I be present during showings or open houses?

There are many reasons why sellers are not encouraged to stay at home during showings.  The main reason is to allow potential buyers to freely view the property and discuss with their own agent. Sometimes the buyers may directly ask you questions, and it is recommended that you not get into any discussion about the home with the buyer directly. Leave it to your listing agent! It is best to leave shortly before showings or open house and to come back once they have left your home.

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Pricing FAQ

How much is my home worth?

Everyone is curious to know what their home is worth in the current market, or how much their neighbours sold for. Tools on this website help you pull this information whether you are a motivated seller or just curious. However, if you are serious about selling your home or condo, you can simply pick up the phone to book a no obligation free home evaluation. It is always better to have an experienced and local Realtor discuss this very important aspect with you personally.

How do you determine how much my home is worth?

A complete comparative market analysis (CMA) determines the value of your home and allows us to suggest a listing price.  It is an in-depth evaluation of recently sold “comparable” homes using parameters like: Why is the assessed value different from the home worth you gave me?

Assessed value is not the same as market value (sold price of comparable properties) or appraised value (value arrived at by the banks’ appraisers).  The assessed value of a home is used for the purpose of taxes in your local municipality and it has no impact on how much your home is worth to a potential buyer in the current market situation.

What is the difference between a list price and sale price?

The list price is the asking price of a home in the market. The sale price is the price the home actually sells for.  Top Realtors should recommend a list price that ends up being very close to the final sale price, leaving some room for negotiation. Sometimes, the Realtor may put the list price slightly lower than the market price, to generate a multiple bid situation, where the home may sell for way over the list price. This is a popular trend but it is not foolproof, and can end up in deals falling through. As an experienced Realtor team, we provide a realistic opinion on list price and we have one of the best “list” to “sold” price ratio in the industry.

Should I price my home higher to leave room for negotiations?

Realtors and buyers take notice of your listing as soon as it hits the market. If the property is overpriced, it doesn't take long for interested parties to step back. By the time the price drops, a majority of buyers are lost. A well-priced home sells fast and close to listing price and there is no need to leave too much room for negotiations.
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Offer Process FAQ

How do I respond to low ball offers?

When selling a home, you may receive low ball offers. Do not get emotional or take it personally. Remember the buyer agent is working in the best interest of the buyer, and not the seller. It is the responsibility of your listing agent to work diligently on securing highest counter offers, instead of letting a potential buyer walk away. 

How does the inspection phase work?

Home inspection is another condition that a buyer can add to their offer.  Inspections are organized by the buyers at their own expense. They have a specified number of days to complete the inspections and also a specified number of days to either waive the inspection clause or request the seller to fix the issues that are shown in the home inspectors’ report. 

What happens if the appraised value comes in too low?

If the bank’s appraiser determines that the value of a property is lower than the agreed purchase amount, during the five-day conditional period, than the buyer can opt-out of the deal and the seller would have to return the initial deposit to the buyer.

If the bank’s appraiser determines that the value of a property is lower than the agreed purchase amount, after the deal has firmed up, then the buyer has to come up with the difference. This means that the buyer has to bridge the difference between the purchase price and the appraised value, out of his own pocket.

What happens if the buyer is unable to close the sale?

Home closing insurance helps in a situation when a buyer is unable to close the sale. Home closing insurance is for your peace of mind. It covers the additional expenses that other insurance coverage does not take care of, in the event of a delayed closing during a real estate transaction. These include temporary accommodation, living expenses, bank fees, legal fees, moving, storage, and other incidental costs potentially adding up to thousands of dollars as costs! It covers up to $25,000 total protection coverage up to 180 days from the original day of closing. This coverage is optional and it can be paid by Team Kalia from the proceeds of the sale.
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