How to Sell Your OTTAWA HOME in 2021 with Moe McIlwain
Tuesday Jan 05th, 2021Share
The New Year is upon us! It is time to say goodbye to the chaos of 2020 and welcome in a fresh start with 2021!
The Pandemic of 2020 affected each one of us. While our healthcare system was tested and our economy took hits, we were able to learn new meanings of compassion, understanding, and care for each other. These are lessons we can all bring with us into the New Year.
Who would have thought, during all of the uncertainty, that the Real Estate Market in Ottawa would become stronger than ever? While we live with a "new normal" many people have adjusted their lifestyles, choosing to move from the busy crowded city center to the calm and peaceful surrounding area. As working at home became a reality for people, families have realized they need more space and decided to upgrade to a bigger home. All of these things have left the Real Estate Market looking strong with record-breaking sales volume and price!
Even now, the market is still HOT!
At the start of 2021, we are still in a SELLER'S MARKET!
What does this mean? This means that houses are currently selling with multiple offers placed on them, pushing the prices well above the asking price. We are even seeing many sales go through without any conditions on them, as eager buyers bid to give the most appealing offers on the properties.
This won't last long, so take advantage of it while it lasts!
If you have thought about selling, now is your chance!
To help you out, here is a guide about what happens when you sell your home in Ottawa in 2021 with Moe McIlwain.
Step One: Your LISTING APPOINTMENT with Moe
First things first, you will meet with Moe. This can either be at your home, or over a video consultation to keep social distancing intact! There are multiple options about how we can set up this meeting, just let us know what method would make you most comfortable and we will work to accommodate you in whatever way possible.
During your appointment, Moe will tell you what exactly he will do to get your home SOLD for the most amount of money possible. He will also talk to you about your home and will then give you a recommendation on what he thinks you should list your home for. This will be based on any features your home has, upgrades you have recently done, what the market looks like, among many other factors that Moe is specially trained to know. If you feel confident that he is the right agent for the job, you will sign the listing paperwork and officially begin your partnership to getting your house sold.
PRO TIP: When Moe recommends a listing price, it may be slightly lower than you had initially thought... this is done strategically! When you list your price lower than what the market is saying it will sell for you will more than likely start a BIDDING WAR with MULTIPLE BUYERS placing offers on your home... this can help your home sell for OVER ASKING PRICE, getting you what you had hoped it would sell for and sometimes MORE!
Step Two: Preparing Your Home for the Market
Through a quick and simple consultation, Moe will give you some tips and advice about how to get your home ready for the market. This can include things such as simple staging, decluttering, and any minor repairs that need to be done... typically there will not be anything major or costly involved. He will also schedule a photographer to come to take professional pictures of your home and arrange to have a For Sale sign installed on the lawn. The photographs are used to highlight all of the features of your home in the best way possible and will be used on various online marketing platforms, giving your home the most exposure to potential buyers possible.
PRO TIP: Curb appeal is just as important as the inside of the home! Curb appeal simply refers to how your home looks from the outside. You want to make sure that the grass is cut (or in the winter, snow is removed and pathways salted) and your lawn is free of clutter, toys, or tools. In the Spring/Summer you can plant fresh seasonal flowers to add pops of colour. In the winter add a few tasteful seasonal decorations. Be careful not to overdo it with decorations though, just a couple to add a bit of flare is good!
Step Three: Marketing Your Home for Sale
Moe and his team work every single day to market your home to potential buyers. They employ a variety of methods, from the MLS system (an online platform where agents can see homes for sale to present to their buyers) to Kijiji and other online sales platforms. A huge bonus of working with Moe is that he is within the 1% who are actively on the phone every day for his client's properties. He networks with potential buyers and cross markets for all of his listings, meaning your home is being promoted daily!
Step Four: Showing Your Home
Making your home available to be shown every day is key to getting your home sold quickly. It opens up the most opportunity for potential buyers to see the house, envision their lives in it, and place the offers that you are hoping for. Our office staff schedule the showings with qualified buyers, who are always accompanied by a Real Estate agent, and book these showings with you directly making sure that the time and day works around your schedule. It is typically recommended that you not be home during showings, to allow buyers to envision themselves in the home rather than see the people currently living in it.
COVID-19 Statement: During the Coronavirus statement, your health and safety is our top priority. Before an agent or their client is allowed to enter your home they are pre-screened for the same criteria used by health professionals, to make sure they haven't recently travelled and are not showing any symptoms of being sick. They are also instructed to only allow 1 Buyer per showing to enter the home, to wear masks and gloves when inside the home, and to not touch any surfaces. If you have any questions about our policies and procedures surrounding COVID-19, please let us know and we will do our best to answer and provide you with peace of mind.
Step Five: Offers and Negotiations
Your home has been shown and a buyer has decided "This is the home for me!" What comes next?
That Buyer will place an offer on your home. This offer will include details such as how much they want to pay for it, what day they want to transfer ownership, as well as any conditions they would like to have fulfilled before the offer is complete. Conditions can range from the buyer arranging their financing for the house to a home inspection to make sure that everything is up to code. It can be hard to know which offers you should accept and which ones aren't quite the best deal for you.
Luckily for you, this is an area that Moe excels in! He can think outside the box and work with you to get the absolute best price and conditions possible on every offer that comes in. Once you are satisfied with the offer being placed in front of you, you accept the terms and the conditional period begins!
Step Six: The Conditional Period
Once you have accepted the offer placed by the buyer, you will enter into the conditional period. Traditionally the home is taken off of the market during this time while we work hard to get the conditions met. Typical conditions can include home inspections, financing, insurance, and other such details that the buyer wants to be sure of. There are also conditions that you may wish to have on the offer at your benefit, such as a review of the offer from your lawyer. These fine details are handled to ensure that your sale will go through without any potential problems. We continue to do our work to make sure that any conditions are met as quickly and easily as possible, always keeping your best interests as our top priority.
When the conditions are met the sale becomes what we call a "Firm Deal". This means that your home is sold - congratulations! Now you just wait until the date that had been agreed upon called the "Closing Date" which simply means that the ownership of the home is legally transferred from you to the buyer and keys are exchanged.
During a strong Seller's market, you may even get offers that do not have any conditions on them... this means that if you accept the price and date of possession your offer becomes "firm" and your house is officially sold! We are seeing lots of deals such as this right now, making it a great time to sell with as little hassle as possible!
Step Seven: Closing
Once your deal is firm and we approach the closing date, we will take care of getting all documents needed for the sale to your lawyer. They take care of the legal aspects of this closing, however, we still stay in touch with you to make sure that both you and the lawyer have everything you need to make this part of the process go through as hassle-free as possible. You will meet with your lawyer 1-7 days before the closing date to sign any final documents. They will explain what they need from you.
There are some other things that you can do to make sure that everything goes smoothly from this point on. This includes talking to your utility providers and alerting them to the upcoming move, contacting the City of Ottawa (or your local municipality) to transfer the name on the property tax, and contacting the companies for any rental or lease-to-own items currently on the house to let them know of the move. You'll also want to start packing and arrange your moving companies/trucks for the day you plan to move.
Step Eight: Cash in Your Hands!
Eight is the number of completion. The sale of your house is complete and the money from the sale is given to you... congratulations, you have earned it! You can get ready for new beginnings where ever you decide to move next and be assured that any other help you need with Real Estate, Moe and his team are here for you!
There are a lot of different aspects that go into getting a home sold. Working with an agent can not only get you the best price possible but also takes a lot of the work off of your shoulders. Deciding you want to sell can be a huge decision but timing is everything. Let us help you get your Ottawa Home SOLD and start 2021 off on the right foot!