How to sell your house privately in Edmonton, AB, Canada? Well, when it comes to selling a house, many people think of calling an agent first. But, do you know you can sell your house privately without needing an agent. It is not as challenging as some real estate agents suggest.
How to sell your house privately in a place like Edmonton? Well, all it takes is a little know-how. Besides, there are a few things you should consider while listing and selling your house.
Selling a house is one of the most significant decisions for anyone. Indeed, it can be stressful to some extent, but not nearly as challenging as you imagine. These days, thousands and thousands of people like you do it every year.
In fact, around 25% and more houses are sold or bought privately. If done with due care, you’ll benefit and get a chance to plan for better projects hereafter. So, if you want to know how to proceed, this guide is for you.
- 1 Know Your Options
- 2 How to Sell Your House Privately as an Individual to an Individual?
- 2.1 Step 1: Prepare Your House for Selling
- 2.2 Step 2: Set the Selling Price
- 2.3 Step 3: Take Pictures and Get Dimensions of your House
- 2.4 Step 4: List your House on Any Website
- 2.5 Step 5: Show Your Home
- 2.6 Step 6: Hire a Real Estate Lawyer to Negotiate Your Sell
- 2.7 Step 7: Reach the Final Agreement
- 2.8 Step 8: Close the Sale and Get Paid for the Property
- 3 How to Sell a House Privately to a Property Buying Company?
- 4 Wrapping Up!
Know Your Options
Are you determined not to seek help from a real estate agent? If so, there are two options for you to sell a house privately. Not to worry, as both ways are fast and effective for selling a home successfully.
Individual to Individual
Alright, the first and profitable option is to sell a house as an individual to an individual. It can take time if you don’t live in a popular area. Besides, the asking price of the home is on the lower end of the range.
Sell to a Property Buying Company
Giving the responsibility of selling your house to a property buying company can reduce your stress. The property buying company itself will take care of everything. It’s a popular option to sell a house without hiring an agent.
Below we’ll be discussing both options. We’ll try to point you in the best direction. Follow the guidelines below before you start this adventure yourself.
How to Sell Your House Privately as an Individual to an Individual?
The moment you put an advertisement for selling your house privately, your phone will start to ring non-stop. Most of these calls are not from potential buyers. Instead, most are from the agents who call to chase you for the listing.
Besides, they will bother you with their logic on how great they are. They will try to prove that you are not fit to sell your house. Indeed, you have to go through such a situation.
But doing this in a proper step will save you from all these hassles. You can look for an individual to sell your house. Although it may take longer, doing so will save you a lot of money. Follow the steps below to sell your home to an individual successfully.
Step 1: Prepare Your House for Selling
Take a home tour and look around. Look at each corner as a potential buyer. What would you expect to have in the house as a buyer? Is there anything you don’t like? Do any minor home improvements need?
Sometimes a minor change can bring you a few extra dollars. Take time to repair and update home fixtures and other equipment. Repair the parts where you need to spend a few bucks.
Hide anything that you find is not necessary. This will make the space look larger. Remove any of your personal things like pictures, decorations, etc. So, the buyer can imagine themselves in your space.
Step 2: Set the Selling Price
Now comes the essential activity that is setting the price. The selling price of your house is a crucial factor. It determines if any buyer would be interested in your home. Many buyers look at the price at first before looking at the home.
They sort the list with their budget. To set the price, you need to do some research. Look around in your neighbourhood or community. Compare how other similar types of homes are priced.
If you are still confused, get help from a professional appraiser. The cost of an appraiser is much less than the price of an agent. If your house is still unsold with the set price, you need to revisit your pricing strategy.
Do this from time to time, considering all the information available to you. It is essential to find where your asking price stands in the market. Do you want to sit on the price? Or, do you want to drop the price?
Step 3: Take Pictures and Get Dimensions of your House
Since you have inspected your home correctly, take good pictures of your home. Take clear pictures from different angles. Measure the dimensions of each room. Then, note all this information. Think about any other information you want the buyer to know.
Step 4: List your House on Any Website
Choose a popular website in Edmonton to list your house. You may need to pay a small flat fee for the MLS system. Create an account and post your house. Make your advertisement available for more buyers.
Keep an eye on the number of views and bookmarks. You may get a phone call at this stage, be prepared for the calls. Decide how much information you intend to share with the buyer over the phone.
Step 5: Show Your Home
Set a time when you want the potential buyer to come. Before the buyers come, make sure all the private and valuable information is hidden. Give your buyer freedom to look around.
Be ready for any questions they ask. The most typical queries regarding a house are taxes, heating costs, renovations, etc. Make all this information available to the buyer.
Know more about taxes when you sell your home: How much tax do you pay while selling a house?
Step 6: Hire a Real Estate Lawyer to Negotiate Your Sell
Once you get an interested buyer, it is wise to hire a real estate lawyer. The lawyer knows it well to sell a house at a better price. Also, a lawyer is needed while closing the sale.
Consider any offers presented by the buyer. Analyze if these offers can be accepted or rejected. When you and the buyer agree, share the name of your lawyer.
The lawyer knows well how to sell your house privately in Edmonton. They can draw up the sale agreement with other parties. Sale agreements are needed to be rechecked many times until all parties are satisfied.
Step 7: Reach the Final Agreement
Once both parties are agreed with a deal, reach the final agreement: Interchange the names, addresses, and contact numbers of your lawyers. Send the necessary paperwork through the lawyer to confirm the sales agreement. There is still time to change any detail if the agreement is not clear.
Here we have an in-depth guideline to answer your query: Do you need a Lawyer to Buy a house?
Step 8: Close the Sale and Get Paid for the Property
Since an agreement has been reached, it’s time to close the sale. Fix a closing date when you’ll hand over the keys and papers. Also, you’ll get paid for selling the house on that day.
How to Sell a House Privately to a Property Buying Company?
If you find the option above stressful but are still not interested in an agent, there is a second option. You can sell your house to a property buying company. This way you can save time and money.
Many sellers are getting interested in this option. Do you know why? First of all, it is a lot simpler. Then, you can instantly sell the house without waiting for months. You can do it on-call, negotiating, or showing the property.
Moreover, the property buying company takes care of all the legal fees. They buy a property under the market value. So, you don’t have to worry about the price either. All in all, it’s an urgent solution to selling a house privately.
See! Selling a house privately is not as difficult as you imagined. Following these tips on how to sell your house privately will definitely help you get the job done. We believe you can sell it and make more money by saving the commission.