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Click here to view the report for year end quarter 2023 from the Realtor’s Association of Edmonton.

You’ve likely heard people lauding the benefits of home ownership. Canadian real estate has historically seen solid long-term gains, which bodes well for existing homeowners and those who plan to buy and keep the place for the long term. There are several other benefits of owning a home, including a roof over your head, a place to plant roots, pride of ownership, and a part of retirement planning. However, as with all investments, there is that initial cost of owning a house in Canada, and unlike other investment vehicles, a home also comes with ongoing expenses. So, down to the nitty-gritty: How much will it cost to buy a house?

Here’s How Much Will It Cost to Buy a House:

The price of the home and the services associated with the purchase are all relative to the type of property, its age/condition and location, so do your research to ensure it remains a good investment. A real estate agent can outline what you can expect to pay and maybe some unexpected expenses. In the meantime, here’s a list of hidden costs to factor into your budget.

Deposit

Depending on the price of a home and the market conditions, you should factor an up-front deposit into the cost of buying a home. You’re expected to pay a deposit when you make an offer on a home.

The deposit is a security measure to ensure you don’t lose the home to another interested buyer. The deposit also assures the seller that you’re serious about the purchase. If you are required to pay a deposit, it will become part of your down payment once you have purchased the home—it comes off the home’s purchase price. There’s no standard deposit amount, as it varies between provinces. But your real estate agent can advise you based on the home’s asking price and the market conditions.

Down Payment

In Canada, the minimum down payment on a home depends on the purchase price. If the house is below $500,000, the minimum down payment will be five per cent. If the price is from $500,000-$999,999, the down payment is five per cent on the first $500,000 and 10 per cent on the remaining amount.

While five per cent is the minimum down payment, anything below 20 per cent is considered a high-ratio mortgage and requires mortgage loan insurance. To avoid this, you’ll need a down payment of 20 per cent or more. This insurance is paid in a lump sum or added to your mortgage and included in your payments.

Land Transfer Tax

When you buy a home, you are required to pay a land transfer tax on closing to the territory or province where you are buying. This tax is based on the amount paid for the property, as well as the remaining amount on any mortgage or debt assumed as part of the arrangement to buy it.

Cost will vary depending on your municipality, the size of the land and other factors. Alberta, Saskatchewan, and parts of Nova Scotia do not have Land Transfer Tax at all, while other provinces use a tiered system—meaning, the higher the purchase price, the higher the percentage you pay. Meanwhile, homebuyers in Toronto are hit with a double whammy, having to pay a municipal land transfer tax on top of the provincial land transfer tax.

Appraisal Fee

An appraisal is essential for the buyer. It lets the lender know they are providing a mortgage for a legitimate price and that you are paying fair market value for the home.

A property appraisal will typically cost in the ballpark of $300, but can vary depending on the appraiser and your location. However, this is an essential step, saving you from borrowing more than you need to, and preventing lenders from giving you too much.

Home Inspection

Though it is not required, a home inspection is recommended in the home-buying process, helping you avoid many potential pitfalls. In hot real estate markets, many homebuyers will waive a home inspection from their conditions. It is a wise investment, helping you avoid costly repairs and renovation. A failed home inspection could be a negotiating factor or a deal-breaker.

A home inspection will generally cost an average of $500 depending on the size, age and condition of the home, but it’s well worth the spend for the peace of mind you’ll have.

Property/Home Insurance

Most lenders will require you to have enough home insurance to cover the total cost of the property. Lenders will ask for proof of insurance before providing the funds to purchase the home.

While property insurance is likely already something you have factored into your budget, it’s important to do your research and find a reasonable quote that will ensure you are covered should anything unexpected happen. The more coverage you add to your home insurance, the higher the annual premiums.

Mortgage Insurance

Your lender will most likely offer you mortgage life insurance. If you pass away while the policy is valid, the insurance company will pay out what you owe the lender, ensuring that your family can remain in your home without making any payments.

An alternative to mortgage insurance is factoring your mortgage into the payout of your life insurance policy. This way, your beneficiaries get the money directly and can pay your mortgage lender, unlike mortgage insurance, where the payout goes to the lender first. Talk to your financial advisor about which option works better for you and your family.

Mortgage insurance is not to be confused with mortgage loan insurance, which protects the lender against mortgage default. Mortgage loan insurance is required if your down payment is less than 20 per cent of the purchase price. Premiums for this type of insurance range from 0.6 per cent to about 4.5 per cent.

Lawyer Fees

A real estate lawyer or notary is required to complete the purchase of a home. They prepare and review all legal documents, with the agreement of purchase and mortgage as the primary documents. Additionally, they ensure there are no previous claims on the property to help provide you with a clean title to the property.

The fee you will be charged by your lawyer will vary depending on the person representing you and must be paid upon closing. Ask your real estate agent for advice, as they likely have a preferred trusted lawyer they can refer you to.

Title Insurance

Title insurance is a one-time fee that protects from losses related to the property title or ownership. Though not required, it protects you from unknown title defects, existing liens on the property, structural encroachment issues, title fraud, and errors in surveys and public records. Talk to your lawyer about title insurance and if it benefits you.

Property Taxes

Property tax is billed annually and it is expressed as a dollar rate for every $1,000 estimated to be the market value of your property. The tax is paid on property owned by an individual or an entity and is one of three taxes a household pays in Canada, the others being sales tax and income tax.

When you’re looking at homes to purchase, your real estate agent will be able to tell you what the property tax was for previous years. This information will allow you to plan for this ongoing expense.

Maintenance and Energy Costs

Potentially your largest ongoing homeowner expense, these costs include lawn care/ yard work, professional services, additions/upgrades and the cost of keeping the house running year-round. Ensure that you factor these costs on top of your mortgage and property taxes when determining if you can afford a home.

Moving Expenses

It’s easy to forget about the small things when moving, but it’s important to remember they can add up quickly! Consider the cost of cable, Internet, electricity, natural gas and other utility installations. Don’t forget about movers, a moving truck, and feeding your friends who are helping out!

Land Survey

A land survey is a legal document that evaluates your home’s boundaries. Though it is not a requirement to sell your house in most jurisdictions, it will establish trust, outlining the size of the property and defining future possibilities of expansion. The cost of the survey depends on how much work is involved and the time of year, but you can expect to pay at least $1000.

Time to Create a Budget

Now that you have a better idea of the cost to buy a home, it’s time to hit the books to find out how much these services will cost in your area. Make a list, create a budget, and get started!

Call our office and speak to one of agents today 780-962-8580, they are always available to help to you!

Do you ever wonder why your favourite movie stars always look so good? Or why your local coffee shop is always spotless and decorated for the season? The reason is simple: they have a team of professionals who meticulously arrange every detail.

Before you start wondering how this relates to your home-buying journey, think about all the professionals you have standing behind you as you search for your dream home. Besides your real estate agent, you have a whole team helping guide you home, including a real estate lawyer.

What Does a Real Estate Lawyer Do for the Buyer?

Buying a home is likely the most significant transaction you will make in your lifetime. This life-altering decision requires the support of professionals to make sure that every step of the process is followed, ensuring that every “i” is dotted and every “t” crossed.

The person who takes care of the dotting and crossing on every legal document is your real estate lawyer. If you’re new to the home buying experience, you probably know you need a lawyer but may not be sure what role they play.

A real estate lawyer is necessary both for the buyer and seller. We’ll start with their role on the buyer’s side. They ensure the transfer of ownership, outlining the terms of your purchase agreement and a clear title to the property. That is their role at the most basic; it goes far beyond, including the following:

• Review the Agreement of Purchase and all other legal documents
• Ensure there are no claims listed against the property
• Arrange for Title Insurance
• Ensure you have a valid title upon closing
• Ensure property taxes are up to date
• Calculate the land transfer tax due on closing
• Draw up the mortgage documents
• Close the transaction and ensure all legal and financial conditions are met
• Exchange legal documents and keys with the seller’s lawyer

What Does a Real Estate Lawyer Do for the Seller?

The real estate lawyer’s role on the seller’s side is also related to ensuring the transaction goes smoothly and that all legal aspects are covered. They are focused on the mortgage payout and a smooth transfer of the property’s title. Just like on the buyer’s side, a real estate lawyer performs several key tasks, including:

• Review the Agreement of Sale and other legal documents before you sign
• Assist you with the negotiation of the terms and conditions
• Prepare the deed to your house
• Deal and remedy title issues as they occur
• Close the transaction
• Ensure all legal and financial conditions have been met
• Exchange legal documents and keys with the Buyer’s lawyer

When Do You Need a Real Estate Lawyer?

Whether you are buying or selling a home, you will need a real estate lawyer to register the transfer of property with your province’s land registry office. You are required to have a lawyer because lawyers can access Provincial Electronic Land Registration Systems. Every province has different regulations, but a legal professional must register a property and purchase a home to ensure it is legal.

While many real estate transactions in Canada use standard form agreements prepared by realtors, a lawyer will review and amend these contracts to ensure they cater to specific needs or situations. They can also conduct a title search to ensure there are no liens or other encumbrances on the property and help you understand and secure title insurance, which is becoming increasingly common in Canada.

How a Real Estate Lawyer Can Help with Complications

A real estate lawyer is indispensable when a housing deal faces complications, such as when a property is appraised at a value lower than the agreed offer. The attorney can provide clarity on the contractual implications of such a scenario. Many real estate contracts contain appraisal contingencies that allow the buyer to renegotiate or withdraw from the purchase without penalty if the appraisal is low. The lawyer can review the terms and advise on potential avenues of action. If both parties remain keen on completing the sale, the attorney can facilitate negotiations, ensuring that any new terms or price adjustments are legally sound and in the best interest of their client. A real estate lawyer can also investigate if the appraisal was conducted accurately and fairly, providing grounds for a potential challenge or request for a second opinion.

Can a Real Estate Lawyer Represent the Buyer and Seller?

In real estate transactions, it’s generally considered a conflict of interest for a single lawyer to represent both the buyer and the seller. This is because the interests of the buyer and the seller can often be at odds. The seller aims for the highest price and best terms, while the buyer typically wants the opposite. A single attorney representing both parties can be put in a difficult position, trying to serve two masters with diverging goals. Dual representation also increases the risk of malpractice claims, as either party might later believe they were inadequately represented if the deal goes awry. Each party deserves an advocate who can negotiate and advise with their best interests in mind. This becomes compromised when one lawyer tries to balance the needs of both parties.

Now that you better understand the real estate lawyer’s role, it’s time to choose one that will best represent you throughout the transaction. Choosing a real estate lawyer is something your RE/MAX agent can help you with, as they often work closely with trusted professionals. For more tips, you can also view our post on finding a real estate lawyer.

Are you also looking for a real estate agent? You can find one HERE.

Have More Questions?

Real estate can be confusing. RE/MAX Canada hit the streets to find out how much (or how little) the average person knows about the Canadian housing market and to offer some answers. For more information contact our office, RE/MAX PREFERRED CHOICE, 780-962-8580.

We honour those who have given their lives.

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What are the steps to buying a home? You’re starting to think about becoming a homeowner, or maybe you’ve even started to look at listings. Either way, you likely have lots of questions, from the general “how tos” to specific queries around financing, different home types and locations, to how to make an offer. To help simplify what can be a complicated process, we’ve outlined the steps to buying a house in Canada.

What Are the Steps to Buying a Home?

There’s a lot to do, but we’ve narrowed it down. Here’s our 10-step home buying process checklist to get you started!

1. Choose a real estate agent that’s right for you.

A home is a huge investment, so work with a realtor that’s knowledgeable, professional and responsive. Treat your search for the right agent like a job interview. Meet with a few different agents, ask lots of questions and check references. Here is a list of 7 questions to ask an agent before you commit.

2. Know your budget.

As you already know, buying a home is going to be expensive. Knowing exactly how much it will cost and how much you can spend is a crucial step in making a wise investment. Consider your lifestyle, your income and any current debts you’re carrying. Are you secure in your employment? Are you planning any major life changes in the near future, such as a job change or growing your family? Be mindful of the financial impacts this could have.

3. Explore mortgage options and get pre-approved.

A mortgage pre-approval informs you of how much your lender is willing to lend you based on a number of factors, such as your credit rating, income and debts. The lender also guarantees the current interest rate for up to 120 days (time may vary depending on the lender), giving you the freedom to house hunt, knowing that you’re safe from interest rate increases. If rates drop, so too should your guaranteed rate. In addition to the interest rate, be sure to also take into account the terms of the mortgage.

4. Start home hunting.

Admittedly, this step that has many sub-steps, but let’s narrow it down a bit. While the old adage of “location, location, location” still stands when it comes to good real estate investments, the recent trend of remote workplaces has given people greater flexibility when it comes to answering that all-important question of “where?” Then comes the what: what type of home do you need to accommodate how you and your family live? Condominiums, townhomes and freehold homes each offer distinct benefits, so ensure you’re choosing something that will work for you for the next rive years. Create a remax.ca account and register to receive listings that meet your criteria when they hit the market.

5. Schedule showings.

Did you know your agent can show homes in-person or virtually? Virtual showings have been around for some time, often used for purchases by buyers from overseas, however it has picked-up speed with local buyers too, due to the Coronavirus pandemic. Regardless of how you choose to view the listings, keep your eyes on the prize. Remember your budget and the must-haves outlined in step #4 above.

6. Make an offer.

You’ve found the home you want, in a location you like. Now, to make an offer to purchase for a price and terms that are agreeable to both you and the seller. Here’s where working with an experienced realtor can give you the upper hand. Different market conditions require a different approach – a seller’s market might mean lots of competition, requiring you to come in at or over asking price with few to no conditions, while a buyer’s market means you have choice and time is on your side. Lean on your agent on how to best handle the situation.

7. Get a home inspection.

Regardless of the market, this is one condition that we recommend you keep as part of your offer. The home inspection is intended to identify any existing or potential underlying problems in a home, alerting the buyer of risks and giving them leverage in negotiating a reduced selling price. Your home inspector will examine systems that are visible without opening walls or floors, including heating, plumbing, electrical, roofing and foundation. The inspection should take approximately three hours and will cost a few hundred dollars, depending on the size of the home.

8. Close the deal.

The closing period for your transaction is typically 90 days, however it can range depending on the agreed upon terms in the Agreement of Purchase and Sale. The homebuyer has some important obligations during this waiting period. Once the offer has been accepted, there’s a window during which you must take all the necessary steps with regard to your offer conditions, such as financing, home inspection and anything else that needs to happen before you officially seal the deal. Your mortgage lender will need a copy of the offer to ensure it’s in-line with your pre-approved level of financing. After any adjustments or repairs have been done to your satisfaction, your Realtor will finalize the deal and your lawyer will process the paperwork, including the mortgage documents with your lender. All of this will point to a final date of actual legal possession: the real closing day.

9. Update utilities, transfer services and change-of-address.

During your closing period, keep track of utility and credit card bills, magazine subscriptions and any other regular mail or standing orders that you receive at your current address. Alert them of the address change in advance of your closing date. Also be sure to contact your doctor and dentist. For family and friends, you can easily send a change of address card via mail or email, but there are a few more steps when it comes to informing government agencies.

• Click here to change your address with the Canada Revenue Agency
• Contact your local Ministry of Health and Ministry of Transportation to find out how to change your address on your health card and driver’s license.
• Forward mail to your new address by visiting the Canada Post website or at your local post office.
• If applicable, it is important to change your address for the Employment Insurance program that you can easily do here.

10. Move into your new home!

If you’re moving during the busy season (typically summer) ensure you’ve booked a moving company well in advance. If you’re doing it yourself, book the truck, enlist some help and ensure you have ample packing materials. Here are some packing tips:

• Pack the items you will need first in a clear plastic bin
• Pack your plates vertically so they are less likely to break
• Take a photo of how you electronics are connected so you can know where the wires go
• Wrap your breakables in clothing to save on bubble wrap
• Keep your glassware safe by packing it with clean socks

Have More Questions?

Real estate can be confusing. RE/MAX Canada hit the streets to find out just how much (or how little) the average person knows about the Canadian housing market, and to offer some answers. For More Information Call Our Office Today 780-962-8580.

Many people dream of having their own house at some point. Owning a home is an excellent way to build financial security and equity. And while renting gives you the freedom to move when you want, the urge to own often rises to the surface. But how do you know when you’re ready? Here are six signs that it’s time to buy a house.

Your Rent is Increasing… Again

Both buying and renting have their drawbacks, but one of the great grievances with renting in recent years is rising rental prices. These make it difficult to have enough for monthly costs and save for the future. Unlike paying rent, owning a house builds equity, and the monthly costs are cheaper in many areas, even with extra expenses like property taxes and maintenance factored in.

You Have Excellent Credit

Besides not having enough for a down payment, low credit scores are a common reason that renters can’t qualify for a mortgage. But if you have a healthy credit score – most lenders look for at least 650 – then it is likely that you will be approved. The better your credit score, the better rate you will get on your mortgage and the easier it will be to get approved since lenders will be less worried about you going into default on your loan.

Your Debt is Manageable

Another thing that mortgage lenders look for in the application process is the applicant’s debt-to-income ratio (DTI). This is calculated by adding up your monthly debts and dividing the sum by your gross monthly income. No lender expects you to be completely debt free, but the higher your DTI ratio, the more risk you pose to a lender and the less likely you are to get approved. Most prefer a ratio of no more than 43 percent.

You Have a Down Payment Saved

The single biggest factor in whether you are ready to buy a house is whether you have a down payment saved. In Canada, a down payment of 5 percent is required to buy a house. However, the larger your initial down payment, the more you will save over the lifetime of your mortgage loan. Putting down an extra five or ten thousand dollars could help you get a bigger house or cut down on your mortgage costs.

Remember that there are additional costs to buying a house than just the down payment, such as closing costs, maintenance, and emergency funds. You will want to have the down payment saved plus extra.

You Want to Settle Down for a While

If you know that you will be moving away in the next few years, buying a house may not make sense since you may not break even on the home sale and instead lose money. Similarly, buying a house is probably not a good idea if you are worried about losing your job since part of settling down is knowing that you have career stability. But if you want to remain in your location for the foreseeable future and have a stable income that can support a mortgage, then it might be time to buy a house in your area.

Your Lifestyle Can Support It

It is a lot harder to sell a house than it is to break a lease, so you want to make sure that you are in a good place in life to pay a mortgage long-term. This means not only job stability but relationship stability, especially if you are buying a house together with your partner.

Sometimes certain aspects of your lifestyle are not very conducive to renting, such as if you have a large dog or are a musician. In these cases, owning a house can be a more comfortable way of living, giving you control over how you live and more privacy to do things the way you want.

Once you know you are ready to move into a house, determine what you need and what is important to you, such as location, amenities, and the type of house. There are many options out there, and each has its benefits and things to consider. If you are ready to take the leap into owning your own house, a mortgage lender can help you get pre-approved so that you know what you can afford.

Our office is here to help, call us today 780-962-8580.

Purchasing a home can be confusing with all the different terms and requirements. Two steps involved in the mortgage process are pre-qualification and pre-approval. But what’s the difference between being pre-qualified and pre-approved?

The difference between being pre-qualified and pre-approved for a mortgage comes down to the details.

Prospective homebuyers should consider getting pre-qualification at the onset of their home-buying process. It allows them to consider their budget and gain insight into their mortgage options. Then, homebuyers should consider getting pre-approval when they are more involved in the home-buying process, ideally within three months of the expected purchase date of their new home. It allows them to understand their financial position better and narrow their options.

Being Pre-Qualified

Getting pre-qualified is generally a faster, less thorough process, where some of your personal information will be reviewed to give you a general idea of how much money you may be eligible to borrow toward the purchase of a home.

Getting pre-qualified is the first step in the process, and is a more casual version of being pre-approved. In the pre-qualification process, an aspiring homeowner would provide a general overview of their finances to the lender, including income, assets, and debt. It does not require a credit check. The lender would then review and assess the financial information and give an estimate of the mortgage amount the borrower could be eligible to receive. Still, this amount is subject to change upon pre-approval.

Pre-qualification can often be done with the lender online or over the phone at no cost. It only takes about one to three days to get a pre-qualification letter. Pre-qualification is a prime opportunity to talk with your lender about your specific mortgage needs and gain insights into the most suitable options available from your lender. Most importantly, it gives you a general idea of the size of the mortgage that you will be eligible for and be able to afford.

Being Pre-Approved

Getting pre-approved for a mortgage is the next step in the process and is much more thorough than being pre-qualified, taking into consideration all of your personal financial information, including your tax statements, credit score and income, to provide you a more detailed, specific idea of your home-purchasing power.

While pre-qualification indicates a potential borrower’s ability to obtain a mortgage, pre-approval gives a more definitive picture. In the pre-approval process, the aspiring homeowner completes an official mortgage application and supplies the lender with all the necessary documentation to perform an extensive credit and financial background check. This could include:

Assets

Debt

Income

Identification

Proof of employment

Proof of capital to pay closing costs

Expenses and financial obligations, including:

– Child or spousal support

– Student loans

– Lines of credit

– Car loans

– Credit card balances

Note that the credit check is a soft credit check and will not affect your credit score.

The lender may require additional documents to verify your employment, such as recent pay stubs, a Record of Employment (ROE), or a Notice of Assessment from the CRA if you are self-employed. Once they have reviewed and assessed the documentation, the lender will offer mortgage pre-approval for up to a specified amount. It is possible to get more than one pre-approval by exploring various lenders.

Pre-approval also offers a better idea of the interest rate you can expect to be charged on your mortgage.  Lenders will provide a conditional commitment in writing for an exact mortgage amount, allowing borrowers to look for homes at or below that price level. Some lenders also allow borrowers to lock in a fixed interest rate, valid for 60, 90, or 120 days. However, a rate hold does not guarantee mortgage approval, and you can still be refused if there are changes in your financial situation.

A Breakdown of the Differences Between Pre-Qualified and Pre-Approved

While pre-qualification and pre-approval both provide mortgage amounts that a borrower can reasonably expect to receive, there are several differences between them:

Pre-approval requires filling out a mortgage application and a credit check. It may also require paying an application fee. Pre-qualification does not have these requirements.

Pre-qualification takes about one to three days, while pre-approval can take up to two weeks.

Pre-approval requires much more extensive documentation on finances, credit, debt, and employment. Pre-qualification only requires general answers without documentation.

Pre-qualification provides a rough estimate of the mortgage amount you can expect to be approved. Pre-approval provides a calculated estimate of your mortgage amount, complete with a written commitment from the lender.

Pre-approval includes interest information with the potential option to lock in your interest rate for up to 120 days. Pre-qualification does provide information on interest rates.

While pre-qualification and pre-approval are sometimes used interchangeably, they are different from each other, and both should be completed in the mortgage application process. By getting pre-qualified and then pre-approved, you will be provided with reliable information on the size of the mortgage you can receive and the interest rate.

In a buyer’s market, getting your property to stand out form the rest will take some creative know-how. A seller’s market occurs when real estate listings outnumber the number of potential purchasers. This means sellers will have to work a little harder to attract offers to their home. Here’s how you can help tip the scales in your favour, and hopefully get that sale contract signed!

Click here to view the tips!

The decision to sell your house can be exciting and overwhelming all at once. Despite the reality of that latter emotion, there are some things home sellers can do to alleviate the stress. Start with a game plan using the five tips below for a less-stress selling experience.

1. Get to know the real estate market: Knowing the ins-and-outs of the real estate market is helpful, so you know what you’re getting into and you can manage your expectations. Some things to consider are average sale price on your street, potential interest rate increases or reductions in the near future, whether’s it’s a buyer’s and seller’s market, and affordable or “liveable” neighbourhoods that prospective buyers look for.
2. Prepare your paperwork: Potential buyers and their agents will ask a lot of questions about your home, so preparing the paperwork in advance is helpful once you start showing your home. Prepare things like utility bills, tax bills, renovation details, warranties, mortgage details, survey and rental contracts.
3. Declutter: Getting rid of unused items and furniture will make your move easier, and potential buyers will respond better to a clean, clutter-free home. It takes many years to accumulate all that “stuff” so be realistic about how long it will take to clear it out. Try tackling one room per day, starting with the basement! Decluttering and staging are key.
4. Start stocking up on boxes and moving supplies: As you get ready for the move, keep an eye open for supplies that may be useful. Stock up on old newspapers and collect old or unused boxes from your office or local grocery store.
5. Find a good real estate agent: Agreed, we have a bias when it comes to a DIY home sale versus working with an experienced pro. While it’s ultimately the seller’s choice whether they want to work with an agent or go it alone, our RE/MAX agents are here to help!

These five simple steps will put you on the right track to sell your house. As overwhelming at the process might seem at first glance, don’t forget to enjoy the excitement of it all, and remember that you’re not alone. Our RE/MAX agents will work with you from start to finish, to ensure a stress-free home sale!

Selling your home can be an incredibly emotional, stressful process, which is why it is so important to follow the right steps when deciding to sell your home. We’ve put together a step-by-step guide to selling your home, to help guide you in the right direction to ensure your selling experience is as easy as possible.

Click HERE to download these steps in PDF form.

1. Decide to Sell Your Home

Make sure you are ready both financially and emotionally.

2. REALTOR® Consultation

There is no commitment required on your part for the initial meeting with an agent. It will be educational and will help you identify the right agent for you. Your RE/MAX agent will provide you with a comparative market analysis and all the tools they have to help sell your home the fastest.

3. Establish a Price

Now that you have chosen an agent, they will help you establish your asking price for your property.

4. Prepare Your Home for Sale

View your home through the eyes of the buyer and ask yourself what you would expect. Your agent will help guide you and give you tips on de-cluttering and other things that will help your home be more sellable.

5. List it for Sale

When everything is in place, your agent will put your home on the open market. Your RE/MAX agent will be actively working hard behind the scenes, marketing your property to colleagues, clients and the public!

6. Showings

Potential buyers may ask to see your home on short notice. It is best if you can accommodate these requests, you never want to miss a potential sale. After each showing, your RE/MAX agent will follow up with the people who viewed your home to hear their feedback.

7. Offers & Negotiations

If everything goes well, a buyer’s agent will present your agent with an offer. You have three choices – accept the offer, counter the offer or reject the offer. Our knowledge of your needs will enable your agent to represent you in the best way possible.

8. Under Contract

At this point, you have accepted an offer and have agreed to all the terms set forth in the contract.

9. Conditional Phase

When the agreement of purchase and sale is accepted and signed by all parties, the conditional phrase begins. The buyers will have a pre-determined amount of time to fulfill items likely including home inspection, financing, home insurance, etc. The date the conditions are removed, you now have a firm and binding contract for the sale of your home. SOLD!

10. Closing

This is the date of transfer of funds and ownership that was agreed upon in your binding contract. Be sure you are packed up and ready to go before this date!

If you’re ready to begin the selling process, call our office 780-962-8580 and speak to one of our agents!