The Listing Agreement
The first formal step in marketing your property is to enter into a Listing Agreement - a contract that commits your broker to actively market your home for a specific period of time. It also commits you to a pre-established marketing fee that is paid upon the successful closing of the sale.
Your Realtor may require the following documents to complete this form:
- Plan of Survey or Location Certificate - A survey of your property which outlines the lot size and location of buildings as well as details of encroachments from neighboring properties. This may be required in certain areas to complete the sale of your home. Your legal professional may recommend a survey, especially if significant changes have been made to your property.
- Property Tax Receipts - Most Listing Agreements require that the current annual property tax be shown.
- Mortgage Verification - Few homeowners know the exact balance of their mortgage as it is paid down. You will be asked to authorize your mortgage lender to provide the figures required.
- Deed or Title Search - This document is a legal description of your property and proof that you own it.
- Condominium Documents - A package of documents will be required for review and approval where the property being sold is a condominium. These documents are obtained from the condominium corporation.
- Other documents - In some instances, it may help the sale of the property if you can provide prospective buyers with information on such items as annual heating, electrical, and water expenses, as well as any recent home improvement costs.
Note: You will be asked, by your Realtor, to sign a property condition disclosure statement (Seller Property Information Statement) and an acknowledgement that your Realtor has explained the Agency Relationship to you - we utilize the Ontario Real Estate Association brochure "Working with a REALTOR-The Agency Relationship" for this purpose.
Click here for printable copy of Working with a REALTOR brochure
|
