Chances are, if you’ve lived in your home for more than a few years, you can likely turn a tidy profit. That’s great news. But sealing the deal requires more than just a handshake. You’ll have to consider if now’s a good time to sell? What’s the best way to get the word out? How do you get top dollar for your property? These are just some of the questions that I can help answer. Don’t know where to start? Take a few moments to familiarize yourself with what selling a home entails . . . and how I can help you achieve your goals. Give us a call when your ready to chat further on selling your home. 519-872-CHAT (2428) In a seller’s market, top price and a fast sale can go hand-in-hand. In a buyer’s market, more sellers are competing for your potential buyer. With our decades of experience we can help you figure out the right price-to-speed ratio. Before the offers start rolling in, you should prepare for the massive amounts of money that will pass through your hands.

Still have a way to go paying off your mortgage? Here are some things to consider.

“Discharging” your mortgage
: Many people use the proceeds from the sale of their home to “discharge” or pay off their mortgage. If you have what is known as an “open” mortgage, you can pay it all off without any penalties. If you have a “closed” mortgage, be prepared to pay a penalty. The penalty amount will depend on a number of factors, including how much time is left on the term of the mortgage.

If you’re buying a new home, is your mortgage “portable”?
A “portable” mortgage means you can take your mortgage money with you and buy a new home, without penalty. This can be a real bonus if the interest rate on your mortgage is lower than existing rates! If your new home is more expensive, and requires more mortgage, you’ll have to borrow the extra money at the current market rate.

Maybe the buyer is “assuming” your mortgage
Your mortgage may have a feature that allows the new buyer to take over your mortgage. If the interest rate is lower than existing rates, this can be a very enticing selling feature for your home.

If you find your new dream home before you’ve started to sell your old one
Talk to your existing mortgage lender. You may be able to arrange “Bridge Financing”. This is when your lender (the bank) is confident your existing home will sell quickly, and they agree to lend you the down payment for your new dream home.

Still have a way to go paying off your mortgage? Here are some things to consider.

Capital gains tax
If the home was your primary residence, you will not have to pay taxes on any capital gain (the increase in the value of your home). If you had tenants living in part of your home, such as the basement, you will pay capital gains tax on a portion of your profits. You may also owe capital gains tax if you’re selling a vacation or investment property. Talk with an accountant to find out what you’ll have to pay.

GST for professional services
Your lawyer and REALTOR® are providing services that are subject to GST/HST. There are many reasons why a REALTOR® is essential when selling your home, but which REALTOR® is best for you?

Don’t simply go with the first REALTOR® who suggests the highest asking price. Ask around, talk to a few, and you’ll soon find the one that’s right for you.

The REALTOR® who helped you buy your current house is a good start. Sticking with a REALTOR® you know just makes sense. If your REALTOR® did a good job helping you buy your home, he or she is probably a good candidate for helping you sell it.

Receive an offer
All of your hard work has paid off, but you won’t know exactly how much it’s paid off until you see the offer. This is an exciting, often emotional time, so be prepared.

Your REALTOR® Matt & Amy Young can walk you through the process
You’ll see every offer Your REALTOR® will present you every offer that’s submitted.

The buyer’s REALTOR® may be there too
He or she represents the buyer’s best interest in the negotiation. The buyer will likely not be there, so you can review and respond to their offer without any awkward pressure.

Your eyes will be immediately drawn to the price!
Here’s where emotions can really kick in. This isn’t a poker match, but remain calm. I can provide advice before any judgments are made.

Discuss the offer
You may want to ask for my advice on the merits of the offer. Maybe it’s time for a high-five, or maybe it’s time to plan your counter offer. You may also wish some private time to discuss things with your partner.

Matt & Amy Young’s ultimate goal as your Realtors: a business built upon referrals and friendships from clients who are completely satisfied by the professional and caring service they receive.