Selling property can be challenging ,especially since there are so many things to consider. The value of the Canadian property market has had considerable growth in profits over the past few decades. Whether you have found a property that better suits your needs or are looking to invest in properties to make a profit, you should keep the following tips in mind.
1. Organize Your Paperwork
The first step to selling your property is to get your paperwork in order. Make sure your property deeds, surveys, tax receipts, mortgage papers, and other relevant documents are organized and accessible.
2. Hire a Realtor
Hiring a realtor is not compulsory, but it will make selling your property much easier. An experienced real estate agent will advise you on what improvements can be made to increase the resale value of your house. They will also manage the arrangement of house showings and open houses. They will also work on the price negotiations to ensure that you get the best price for your property. Realtor fees can range from 2% to 6% of your property price, depending on who you hire and your property’s location.
3. Ensure That Your Property Looks Appealing
Renovating your home is an excellent way to increase both the visual appeal and monetary value of your property. The nature of the renovations depends on the building itself and the amount of money you are willing to invest. Home renovations can include necessary repairs or complete building remodeling and adding more portions to the house.
Another less costly way to gain the interest of more buyers is to add curb appeal, which is the attractiveness of your property from the outside. You can increase curb appeal by ensuring your yard is well-maintained or getting a fresh coat of paint applied on the outer walls of your property. You can also get your property staged. Staging essentially refers to making your house look liveable so potential buyers can visualize how it will look when they live there.
4. Consult a Property Lawyer
You should consult a property lawyer to ensure that you follow the law and account for all payable fees and taxes. For example, did you know that you must pay capital gains tax if you make a profit on your property in Canada? You can be exempted from this tax, but only if the property is your primary residence. It is the lawyer’s job to draw up the buyer agreement, hold the payment while paperwork is processed, and ensure the legal transfer of documents goes smoothly. Therefore, you should take your time to find an expert lawyer.
Canadian real estate is an excellent investment due to the country’s economic stability and high growth potential. You should consult a lawyer to ensure that you follow the relevant laws. Once that is assured, you can further invest in improving and renovating your owned properties to maximize your turnover. Overall, if you follow the correct steps, you can sell your house quickly and for a good profit.