Listing Agreement

Signing listing agreement in Mississauga

The first formal step in marketing your Mississauga property; home or condominium, is to enter into a Listing Agreement- a contract that commits Brokerage and your REALTOR®, to actively market your home for a specified period of time.  The listing agreement also commits you to a pre-established marketing fee (real estate commission); negotiable, that is to be paid upon the successful closing of the sale. The listing agreement is a legally binding contract that will also show what percentage or amount (can be either/or, but not a combination of two) of real estate commission is being charged to a home seller, including what is being paid to the buyer brokerages. A competitive commission can definitely lure more buyer agents to the property, thus increasing chances of home selling faster. In order to help you list your Mississauga home/condo, you can be asked to furnish the following at the time of signing Multiple Listing Service (TREB MLS®) listing agreement:

• Plan of Survey (not for condominiums) - A survey of your Mississauga property which outlines the lot size and location of buildings as well as details of encroachments from neighbouring Mississauga properties. If you have made any changes to your property you may be asked to provide an updated survey from the city
• Mississauga's Property Tax receipts - Listing agreements require that the current annual property tax assessments be shown. So keep your statement of taxes/property tax receipt handy
• Mortgage Verification - Few homeowners know the exact balance of their mortgage, as it is paid down. Ask your mortgagee to provide you with the "Mortgage Statement" of your Mississauga property. Lender's Mortgage Statement can tell you your mortgage balance, interest rate, monthly/biweekly payment, balance term and amortization
• Deed or Title -This document is a legal description of your Mississauga property and the proof that you own it
• Chattels and fixtures- Make a list of items that will be included, and items that will be excluded when selling your property
• Other documentation to list your Mississauga home/condo on Multiple Listing Service (TREB MLS®) - It may help selling your Mississauga property if you can provide prospective buyers with information on such items as annual heating, electrical, and water expenses, as well as any recent home improvement costs

Pre-listing Home Inspection-Pre-listing home inspection is becoming popular with many Mississauga home sellers, who don't want surprises once their property gets sold, conditional upon home inspection. Getting pre-listing inspection saves you time, makes you aware ahead of time of any serious problems which may be present in your home so they you can be prepared to deal with them.