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 Amit FAQ

Why should I list with you?

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

How does your 30-day Sold Guarantee work?

Amit's promise is based on confidence, backed by his 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, Amit Kalia 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.

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. We not only showcase RE/MAX listings but other brokerage listings also. In 2015, RE/MAX Canada website received an average of 1 million visitors, 5 million page views and 3600 showing requests by consumers on a monthly basis. Mississauga was one of the Top 3 Ontario cities searched online, RE/MAX office listings automatically appear on global.remax.com. This means that your listing can be found in 41 languages and 134 countries around the Globe. In 2015, more than 100,000 unique visitors viewed 733,000 listings, with a total listing views of 2 million+. 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?

In 2015 TREB statistics put Amit amongst top 1% Realtors in Mississauga and also in postal code L5B, based on number of transactions. Take advantage of his 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. Amit's own popular Mississauga real estate website and condopundit.com blog, his 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? Amit 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 Amit Kalia as your Realtor. Amit has been actively selling homes and condos in Mississauga since 2003 as a full-time Realtor, and his experience and knowledge is second to none.

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 with Amit, 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. 

During the consultation, Amit will discuss key considerations such as: what are you planning to do with the equity, are you investing in another property, do you plan to rent instead,  are you downsizing to a smaller condo,  are you upsizing to a home or a larger condo, or are you moving out of the city, or even country? 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. Amit takes the pain out of the process for you. He has helped many clients sell their Mississauga property and buy in Milton, Brampton, Oakville and elsewhere in the GTA.

Do you maintain a database of buyers and investors?

Amit has a way of tuning into your needs with ease. He speaks to prospective buyers in their language be it, English, Urdu, Punjabi, Hindi or Sindhi. He understands diverse client needs in a way few Realtors can. Amit 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 with Amit.

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

Amit’s friendly, professional and personalized service allows him to translate your needs to the last detail, so that when you sell your property, you enjoy not just the best commission plan, but also peace of mind and trouble-free transaction. Amit personally knows 100s of local realtors and this helps in big way when they show your listing. It is not surprising that Amit’s dedication has classified him as a top producer in every real estate office he has worked at since 2003. What Amit values most is the trust, repeat business and the testimonials from his vast network of satisfied clients in real estate.

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). Amit has an in house marketing professional to take care of marketing and administration side of his real estate business. Amit focuses his time and energy on doing what he does best - getting the most from the sale of a home for his clients. He is further supported by a team which includes a senior commercial broker and two experienced sales representatives. He also works with many professionals that he can recommend to you like: lawyers, mortgage brokers, home inspectors, handymen, painters etc. In addition to his brokerage office at the Square One mall, Amit has a personal office in the area, where he conducts weekend open houses for his Square One condo listings.

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.  Amit promises to keep all his clients updated and apprised of all developments related to the sale of your home, from feedback on showings to updates on offer follow-up with other agents. At a bare minimum, you can expect to hear from your Amit at least twice a week when selling your home, or more often as needed.  The methods in which Amit communicates with the sellers can be tailored to suit each individual seller.  If a home owner prefers communication via e-mail, Amit 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. Amit goes a step further and beyond. He offers a progressive and a proactive marketing strategy for selling your Mississauga home or condo in 30 days or less. He constantly hones his strategy to make it relevant and effective in the current market scenario. He offers 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. You can request your free guide via email.

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 from Amit, you can choose a commission plan that you are most comfortable with. Amit can customize the commission plan taking various elements into consideration and ensuring that you receive the highest return on investment (ROI). Rest assured, no seller has ever hired Amit at the commission they are not happy with.

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. However, the percentage of homes that sell due to an open house is quite low. Having said that, if Amit gets a direct buyer for your home, he will give you a break on buyer agent commission, helping you save money. If you have any concerns regarding open houses, feel free to discuss with Amit. 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. Amit 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 Amit is not able to fix.

Where is your brokerage or office located? 

Amit'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. Amit also has a personal team office in one of the condo buildings (CityGate2) in Downtown Mississauga, a great advantage when it comes to serving clients who list with Amit in the Square One area.

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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 Amit 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.

How is the 2016 Mississauga real estate market performing?

Spring 2016 is proving to be a sellers’ market for homes in Mississauga. This cannot be generalized for the remainder of the year. Amit can provide you with information on key indicators during the pre-listing interview, such as: average days on market, average price for similar properties in the same neighbourhood, average list price to sale price ratios, inventory of similar properties in the market etc. If you are selling your home to buy elsewhere, Amit can help you understand the market dynamics so that you get an accurate picture of home price and inventory in the desired neighbourhood.

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. Does your home require home staging? What about upgrades or updates? Amit will view your property and provide you with an unbiased opinion to help sell your home fast with an optimum return on investment. If it is an older property, Amit will recommend a pre-listing inspection to help uncover any major works or repairs.

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, Amit recommends a Pre-listing inspection on the property before putting it on sale. 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 Amit sell properties for more than his peers in the business. This service is paid by Amit 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. Amit strongly feels that 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 Amit’s 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 with Amit. 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?

Professional Realtors like Amit will complete a comparative market analysis (CMA) to determine the value of your home and 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 current trend but it is not foolproof, and can end up in deals falling through. Amit is an experienced Realtor who provides a realistic opinion on list price and has 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 Amit as your listing agent to work diligently on securing highest counter offers, instead of letting a potential buyer walk. 

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 than 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 is paid by Amit from the proceeds of the sale.
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Order your free home evaluation from Amit, and get sold in 30 days or less:

Call Amit now! 905-339-5111

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