If you’re getting ready to sell your home, it’s important to understand how to protect yourself during the process. It’s easy for homeowners to educate themselves on how to sell their own homes and we have key things to consider in order to have a safe transaction.
Do your research
Setting the right list price for your home from the start is very important in order to protect your equity – by getting the most value for your home. The transparent data accessible on Bōde can assist you with this. Check out Market data, Sold data, and Comparables to make informed decisions about your listing.
Be completely honest on your seller disclosure of Material Latent Defects
Material Latent Defects are issues not discoverable through a reasonable home inspection. Examples may include cracks in the foundation that have been covered, an area of the house that leaks every Spring, or areas developed without the required permits. Sellers are legally required to disclosure any Material Latent Defects during the listing process. It’s important to be honest as sellers may face legal action if a buyer is not made aware of significant issues prior to purchasing the home.
Require buyers to be ID verified
Bōde sellers are given the option of requiring any buyers without licensed agents to be ID verified prior to viewing your home. This is a way of protecting yourself from a potential theft or crime in your home. It’s an easy process to get ID verified with Bōde so will not discourage buyers from viewing your home.
Put away personal items and valuables
Whether you list your own home with Bōde, or you list with an agent, when your home is on the market anyone will potentially be able to view photos of it. For your own privacy, you should remove any personal items and family photos prior to your professional photos and while showing your home. It’s also best not to leave any valuables in plain sight. When listing your home removing personal items is often suggested anyways so that potential buyers can envision it as their future home!
Remove pets during showings
If you have pets, it’s best to take them out of the home prior to any showings. There are liability issues to consider with having pets in the house. Some people have allergies, some people just don’t enjoy being around pets and pets can get spooked by strangers in their home – especially if you are not present. It is important to make your home a safe and welcoming environment for all potential buyers who walk through.
Request everything in writing
A standard purchase agreement typically states that only items in writing are binding. It’s crucial for sellers to ensure anything discussed as part of the home sale is included in the contract.
Throughly review your purchase agreement
Bōde makes the offer process simple. Once all fields are completed, a purchase agreement is generated for signature via DocuSign. It is still very important to read through the agreement to ensure all necessary information has been included, counters amended, and that all sections are correct prior to finalizing the acceptance of an offer.
For more information, go to our blog on How to read a purchase agreement in Alberta.
Consult a lawyer
Ultimately, consulting a lawyer is the best way to protect yourself when selling your own home. In fact, consulting a lawyer is advisable even when working with an agent as they are not able to advise you on the legal aspects of a home transaction. The Prō Marketplace offers great choices for reputable lawyers in your local area. Lawyers can help throughout the sale process, including with any contract questions. Find a lawyer here.