Home or Condo Sellers FAQs
Below are some Frequently Asked Questions (FAQ) that will be covered:
- Where is your office located?
- What is the importance of the RE/MAX brand name?
- Why should we list our property for sale with you?
- Do you provide a free home evaluation?
- How is my home worth determined?
- What is home staging?
- Is a pre-listing inspection important?
- Do you hold open houses for your sellers?
- How does the showing process work?
- How long are showings?
- Does receiving a lot of showings always a good thing?
- How do list price and final sale price differ?
- Do you go over the offers with your sellers?
- What is the difference between sold conditional and sold firm?
- After selling our property, do you also help find us a new property?
- The typical commission that you charge?
- What are the common closing expenses in selling a property?
- What needs to be disclosed to my real estate professional and potential buyers?
Where is your office located?
Pratham Kalia works at RE/MAX Real Estate Centre in Mississauga, it is conveniently located in the heart of City Centre (Square One Shopping Mall). RE/MAX Real Estate Centre has 17 locations in total across the GTA, with 3 offices in Mississauga.
What is the importance of the RE/MAX brand name?
RE/MAX is one of the largest names in real estate and it is known around the World. RE/MAX has a lot of online exposure and it is a well known fact that majority of buyers find properties for sale online. With the heavy online presence and strong brand name, it will only benefit a seller trying to sell their home. To learn more click RE/MAX vs The Industry 2019 and RE/MAX Snapshot.
Pratham Kalia works at RE/MAX Real Estate Centre in Mississauga, it is conveniently located in the heart of City Centre (Square One Shopping Mall). RE/MAX Real Estate Centre has 17 locations in total across the GTA, with 3 offices in Mississauga.
What is the importance of the RE/MAX brand name?
RE/MAX is one of the largest names in real estate and it is known around the World. RE/MAX has a lot of online exposure and it is a well known fact that majority of buyers find properties for sale online. With the heavy online presence and strong brand name, it will only benefit a seller trying to sell their home. To learn more click RE/MAX vs The Industry 2019 and RE/MAX Snapshot.
Why should we list our property for sale with you?
Pratham is a reputed Mississauga real estate professional who has been recognized and awarded for his performance at RE/MAX. Pratham has multiple years of experience in the residential real estate industry. He works to secure the best deals for his clients in a professional manner. Pratham has extensive experience working with sellers throughout his career. Be sure to ask Pratham about his Top 10 Value Added Services, this is his commitment to help his seller clients sell their home or condo fast and for top dollars.
Pratham is there for his clients every step of the way in the home buying and selling process. With his honest opinion and commitment to his clients, Pratham has established a strong presence online with many reviews from satisfied clients. To read some of Pratham's client reviews, visit Pratham Kalia's Google Review Page.
How is my home worth determined?
Assessing and completing with proper due diligence the comparative market analysis (CMA). This will determine the value of your home and also helps set a listing price for the property. It is important to note that the list price is the asking price of the home when it is live on the market and the sale price is what the home ends up selling for. Many factors play an important role in determining how much your home is worth, mainly comparable properties on the market and comparable properties that have sold.
Some of the factors that are compared with the comparable properties are:
Home staging is setting and preparing the home by a professional home stager so the property looks clean, attractive and welcoming to potential buyers. Home staging is typically completed before listing your property for sale and before professional photos are taken to market your property online. Home staging is very helpful when it comes to selling your home or condo fast and for top dollars. Home staging can give the home or condo a great first impression when potential buyers view the property.
Professional home or condo staging typically take up to a 1-4 days, depending on; the location, size of the home and items needed etc. Home staging helps potential buyers get an idea of the home with furniture and it sometimes helps buyers picture how they are going to arrange their items. Be sure to ask Pratham about his FREE home staging package to benefit his seller clients!
Is a pre-listing inspection important?
A pre-listing inspection can be a good option for home owners to undertake prior to listing their home for sale. This is so the seller that is listing their home for sale can know from the professional home inspector about any issues, repairs and changes that are needed. Depending on the the issues (minor or major), the seller can be proactive and plan accordingly on having a professional fix the items or issues before putting their home or condo for sale on the market.
Typically, buyers are putting conditional offers on homes or condos which can include a home inspection condition(s). Having a recent pre-listing inspection report can give both the buyer and seller confidence and reassurance. For example, the seller can hire professionals to fix or address any repairs, changes and/or issues after the pre-listing home inspection is conducted. This not only can help the property sell faster, as typically buyer does not want to spend money on repairs, fixes etc. and may ask to adjust the purchase price.
Condominium home owners (condos and condo townhomes) can inform their condominium corporation (property management company) if there are any findings or defects to the common elements. Typically, the common elements are the responsibility of the condominium corporation's property management.
This will also depend on the seller and their situation. A showing is mostly an hour in length and sometimes a seller can request for a showing to be 30 minutes maximum. Typically, the buyer agent and their clients will have an hour window to view the property and discuss with one another about it as well.
Common reasons that a property gets a lot of showings and no offers are:
Pratham is a reputed Mississauga real estate professional who has been recognized and awarded for his performance at RE/MAX. Pratham has multiple years of experience in the residential real estate industry. He works to secure the best deals for his clients in a professional manner. Pratham has extensive experience working with sellers throughout his career. Be sure to ask Pratham about his Top 10 Value Added Services, this is his commitment to help his seller clients sell their home or condo fast and for top dollars.
Pratham is there for his clients every step of the way in the home buying and selling process. With his honest opinion and commitment to his clients, Pratham has established a strong presence online with many reviews from satisfied clients. To read some of Pratham's client reviews, visit Pratham Kalia's Google Review Page.
Do you provide a free home evaluation?
Yes, Pratham provides a free home evaluation (no commitments and no charges). Let's say you are planning on selling your home or condo and have decided to interview Pratham Kalia as a potential real estate professional to list your property for sale. The free home evaluation will be apart of the initial meeting during the seller consultation, where Pratham will not only give you an estimate on the selling price of your home but also go over his value added proposition (Top 10 value added services). How is my home worth determined?
Assessing and completing with proper due diligence the comparative market analysis (CMA). This will determine the value of your home and also helps set a listing price for the property. It is important to note that the list price is the asking price of the home when it is live on the market and the sale price is what the home ends up selling for. Many factors play an important role in determining how much your home is worth, mainly comparable properties on the market and comparable properties that have sold.
Some of the factors that are compared with the comparable properties are:
- Lot size (width and depth)
- Neighbourhood (location)
- Age of the property
- Square footage
- Number of bedrooms and bathrooms
- Upgrades and finishes
- Finished (rec room, basement apartment, walk-out, separate entrance etc.) or unfinished basement
- Others can include (backing a park, ravine, no sidewalk etc.)
- Condo fees, view, locker, number of parking spots, floor level, age of the building etc.
Home staging is setting and preparing the home by a professional home stager so the property looks clean, attractive and welcoming to potential buyers. Home staging is typically completed before listing your property for sale and before professional photos are taken to market your property online. Home staging is very helpful when it comes to selling your home or condo fast and for top dollars. Home staging can give the home or condo a great first impression when potential buyers view the property.
Professional home or condo staging typically take up to a 1-4 days, depending on; the location, size of the home and items needed etc. Home staging helps potential buyers get an idea of the home with furniture and it sometimes helps buyers picture how they are going to arrange their items. Be sure to ask Pratham about his FREE home staging package to benefit his seller clients!
Is a pre-listing inspection important?
A pre-listing inspection can be a good option for home owners to undertake prior to listing their home for sale. This is so the seller that is listing their home for sale can know from the professional home inspector about any issues, repairs and changes that are needed. Depending on the the issues (minor or major), the seller can be proactive and plan accordingly on having a professional fix the items or issues before putting their home or condo for sale on the market.
Typically, buyers are putting conditional offers on homes or condos which can include a home inspection condition(s). Having a recent pre-listing inspection report can give both the buyer and seller confidence and reassurance. For example, the seller can hire professionals to fix or address any repairs, changes and/or issues after the pre-listing home inspection is conducted. This not only can help the property sell faster, as typically buyer does not want to spend money on repairs, fixes etc. and may ask to adjust the purchase price.
Condominium home owners (condos and condo townhomes) can inform their condominium corporation (property management company) if there are any findings or defects to the common elements. Typically, the common elements are the responsibility of the condominium corporation's property management.
Do you hold open houses for your sellers?
Yes, Pratham Kalia conducts open houses for his seller clients. An open house is typically held on Saturday and Sunday from 2:00 pm until 4:00 pm. But, sometimes sellers are not comfortable with open houses for their home or condo. Overall, it is a great tool to create a buzz in the neighbourhood and a great way to generate interest for potential buyers looking to buy in the specific neighbourhood.How does the showing process work?
This will depend on the seller and their situation. Typically, if the home that is listed for sale is owner occupied then the seller can ask their real estate professional to set showing instructions. The showing instructions are specific times and days that the seller allows or does not allow showings to take place for their property (reasons a seller could restrict showing hours could be because they work from home, tenants, children, pets etc.). If the property that is listed for sale is vacant then the process is very straight forward. It is recommended that the seller does not stay in the property while showings take place, as the buyer agent and their client can freely discuss and walk around the property.
How long are showings?This will depend on the seller and their situation. Typically, if the home that is listed for sale is owner occupied then the seller can ask their real estate professional to set showing instructions. The showing instructions are specific times and days that the seller allows or does not allow showings to take place for their property (reasons a seller could restrict showing hours could be because they work from home, tenants, children, pets etc.). If the property that is listed for sale is vacant then the process is very straight forward. It is recommended that the seller does not stay in the property while showings take place, as the buyer agent and their client can freely discuss and walk around the property.
This will also depend on the seller and their situation. A showing is mostly an hour in length and sometimes a seller can request for a showing to be 30 minutes maximum. Typically, the buyer agent and their clients will have an hour window to view the property and discuss with one another about it as well.
Does receiving a lot of showings always a good thing?
Many sellers are under the impression that a lot of showings is always a good thing, this is not true. If there are many showings for a seller's property, but no offers on the table can indicate a few things. It is highly recommended that the seller and their real estate professional re-plan a strategy in order to sell the property.Common reasons that a property gets a lot of showings and no offers are:
- Asking price is too high (buyer agents using the property as a comparable to show their clients a similar home at a lower asking price)
- The property not showing well (either the property needs a coat of fresh paint, home staging or upgrades/finishes)
- A combination of the property not showing well and being overpriced
How do list price and final sale price differ?
The list price is simply the price of the home when it is on the market, also known as asking price. The final sale price is what the property ends up selling for. It is recommended to discuss with an experienced real estate professional about pricing when listing your property for sale.
Do you go over the offers with your sellers?
Of course! This is a prudent step that an experienced real estate professional takes in order to work in the best interest of their client. It is the responsibility of the listing agent (seller agent) to do their due diligence on explaining to the seller the offer, the contents of the offer and overall allowing the seller to have a smooth and easy sale and closing of their property. It is important to remember that the buyer agent is working in the best interest of the buyer and the seller agent is working in the best interest of the seller during transactions.
The list price is simply the price of the home when it is on the market, also known as asking price. The final sale price is what the property ends up selling for. It is recommended to discuss with an experienced real estate professional about pricing when listing your property for sale.
Do you go over the offers with your sellers?
Of course! This is a prudent step that an experienced real estate professional takes in order to work in the best interest of their client. It is the responsibility of the listing agent (seller agent) to do their due diligence on explaining to the seller the offer, the contents of the offer and overall allowing the seller to have a smooth and easy sale and closing of their property. It is important to remember that the buyer agent is working in the best interest of the buyer and the seller agent is working in the best interest of the seller during transactions.
What is the difference between sold conditional and sold firm?
Sold firm is when the property officially sold. When a property is sold conditional, it is still subject to certain conditions within the offer (finance condition, inspection condition, status certificate condition etc.). Only once all of the conditions are fulfilled and completed is when the deal is complete and the property is officially sold firm.
However, if a seller has accepted a conditional offer, for example (subject on a satisfactory mortgage approval for the buyer within 3 business days) and within the time frame of this condition the buyer is unable to get approved, then the deal will fall and is incomplete. Thus having the seller and their agent to possibly re-list the property for sale in hopes of finding a new buyer.
Sold firm is when the property officially sold. When a property is sold conditional, it is still subject to certain conditions within the offer (finance condition, inspection condition, status certificate condition etc.). Only once all of the conditions are fulfilled and completed is when the deal is complete and the property is officially sold firm.
However, if a seller has accepted a conditional offer, for example (subject on a satisfactory mortgage approval for the buyer within 3 business days) and within the time frame of this condition the buyer is unable to get approved, then the deal will fall and is incomplete. Thus having the seller and their agent to possibly re-list the property for sale in hopes of finding a new buyer.
After selling our property, do you also help find us a new property?
Yes! If you are planning to sell your property in order to buy a home or condo elsewhere, during the initial meeting the discussion will revolve around the selling and buying strategy. Overall it will depend on the market, circumstance of the seller and their needs/wants. Sometimes the best option for the seller is to buy first and then sell and other times it is to sell first and then buy. With proper guidance and information, Pratham Kalia helps his clients make an informed decision when looking to buy or sell first making it a pain free and easy process on both transactions.
The typical commission that you charge?
Speak with Pratham Kalia regarding customizing a specific commission plan that takes into consideration various elements to best suit the seller wanting to list their home for sale. Pratham Kalia offers a few various commission plans for his seller clients to choose from, you can learn more about Pratham's value added services on this website. It is very important to remember to choose wisely and choose a highly rated professional, simply choosing a real estate professional on the fact of the lowest comission amount is a mistake sellers make when deciding to sell their home.
Yes! If you are planning to sell your property in order to buy a home or condo elsewhere, during the initial meeting the discussion will revolve around the selling and buying strategy. Overall it will depend on the market, circumstance of the seller and their needs/wants. Sometimes the best option for the seller is to buy first and then sell and other times it is to sell first and then buy. With proper guidance and information, Pratham Kalia helps his clients make an informed decision when looking to buy or sell first making it a pain free and easy process on both transactions.
The typical commission that you charge?
Speak with Pratham Kalia regarding customizing a specific commission plan that takes into consideration various elements to best suit the seller wanting to list their home for sale. Pratham Kalia offers a few various commission plans for his seller clients to choose from, you can learn more about Pratham's value added services on this website. It is very important to remember to choose wisely and choose a highly rated professional, simply choosing a real estate professional on the fact of the lowest comission amount is a mistake sellers make when deciding to sell their home.
What are the common closing expenses in selling a property?
Typically closing expenses for home sellers include real estate commission (plus HST) and lawyer fee. Other additional costs can be if any upgrades and finishes need to be completed when selling a home or condo.
Typically closing expenses for home sellers include real estate commission (plus HST) and lawyer fee. Other additional costs can be if any upgrades and finishes need to be completed when selling a home or condo.
What needs to be disclosed to my real estate professional and potential buyers?
When selling a home or condo it is very crucial that the seller discloses any known defects and/or issues to their real estate professional. There are two types of defects that needs to be taken in consideration, patent defects and latent defects.
Patent defects are which can be seen or discovered by an inspection of the property and latent defects are those that are not visible through an inspection of the property. If the seller is aware of a latent defect to the property, it is prudent the seller let their real estate professional know about this problem before listing their property for sale. The real estate professional can recommend either fixing the issue, ensuring this information is disclosed to any potential buyers and their agents, disclosing this information on proper forms etc. This can help avoid a deal to fall through and of course saving the seller from potential lawsuits and problems down the line.
When selling a home or condo it is very crucial that the seller discloses any known defects and/or issues to their real estate professional. There are two types of defects that needs to be taken in consideration, patent defects and latent defects.
Patent defects are which can be seen or discovered by an inspection of the property and latent defects are those that are not visible through an inspection of the property. If the seller is aware of a latent defect to the property, it is prudent the seller let their real estate professional know about this problem before listing their property for sale. The real estate professional can recommend either fixing the issue, ensuring this information is disclosed to any potential buyers and their agents, disclosing this information on proper forms etc. This can help avoid a deal to fall through and of course saving the seller from potential lawsuits and problems down the line.
Contact Pratham Kalia
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