July 11, 2024

The complete 12-step guide to selling your home

A house is more than just a roof over your head. It’s all the memories and moments that stay with you forever. Deciding to sell your home can feel like a mountain of work that involves countless steps. Working with real estate professionals and being well-prepared for this new stage in your life is key. To learn more about the process, read through our complete 12-step guide on how to sell your house fast.

Decide that you want to sell
Get your finances in order
Choose your real estate broker
Determine the market value of your property and decide on a price
Prepare the documentation for the sale of your home
Finish work and repairs before selling your home
List your property and promote it
Show your house
Go over offers and negotiate
Sign the deed of sale with a notary
Move and hand over the keys
A few last tips for selling your home
Being prepared to successfully sell your home
Frequently asked questions (FAQ)

1. Decide that you want to sell

You may decide to sell your house for a number of reasons. Perhaps you are newly retired and want to move to a smaller home, or maybe you want to move closer to work or just need a change!

Whatever the reason, it’s important to find the right time to sell based on where you live and the current real estate market.

You love your home, but you need to put yourself in the mindset of a buyer and ask yourself a few questions:

What is my house worth?
Has it been renovated tastefully? Has it been well maintained over time?
Are our walls covered in family photos? Is it too personalized?
Does our home need some TLC? What renovations need to be done?
What is my first impression when I walk in?

All of these questions (and answers!) are geared at highlighting your property in the eyes of the buyer.

When is the best time to sell your home?

Although you can sell your property at any time of the year, experts agree that spring and summer are the most popular times. Families usually wait until the end of the school year or before children go back to school to move. So, it’s the perfect time to plant some flowers and a For Sale sign in your front garden!

Should you sell first or buy first?

A question that comes up often is whether it’s better to sell first or buy first. What is the best order in which to proceed?

There is no one right answer to this question. It depends on current market and the risk you are willing to take. As with everything, there are pros and cons to selling or buying first. For example, if you buy first, you need to make sure you have the necessary financing, but if you sell first, you may have to rent an apartment while you search for your ideal home. Some people end up making a rushed purchase because the deadlines are too tight.

The best option is to try to synchronize the sale and purchase. In this case, you could consider bridge financing or a mortgage line of credit, or even a promise to purchase conditional on the sale.

For example, you decide to make an offer to buy another home before selling yours, but you don’t want to end up with two mortgages. You can make a promise to purchase conditional upon the sale of your home. However, the other seller can still find a new buyer, in which case you would only have 72 hours to waive the conditions or withdraw from the transaction. See the “Understanding the conditional promise to purchase” section of this article for more details.

Working with a real estate broker from the very beginning will help you with this decision as the broker can explain the options available to you.

	Tips and tricks Make a list of your demands and limits. What is your deadline for moving? What is your budget for the improvements you need to make before putting the house up for sale? What is the lowest selling price you would accept? If you’re selling with others, dealing with these issues ahead of time can save time.

2. Get your finances in order

Before you decide to sell your home, we recommend getting your finances in order. What is your mortgage balance? If you want to remain a homeowner, what are your options for a down payment on your future home? Make an appointment with your financial and mortgage advisor to get the answers to these questions.

Mortgage balance and mortgage options

If you don’t already know, contact your bank to check how much time is left on your current mortgage contract, i.e., the term, which usually ranges from a few months to 5 years. This information may have an impact on when to put your home up for sale as there is a penalty fee if you decide to sell before the end of the term.

Moreover, verify the cost of this mortgage penalty with your advisor and ask what options are available to you: mortgage transfer, mortgage cancellation, etc.

If you still want to be a homeowner and plan on buying a new home, you should choose the most advantageous mortgage for you.

Understanding the costs associated with selling a home

There are certain costs that come with selling your house. Here are the main costs.

Potential costs when selling a home
Fees	Estimated cost	Explanations
Repairs or renovations	Variable depending on the type of work	Not all properties for sale require work.
Home staging	Approximately 1% of the property’s market value	The cost of home staging can vary greatly depending on your needs.
Certificate of location	Around $1,500	If your certificate of location is no longer valid, be aware that it is up to you to have a new one drawn up.
Home inspection	Between $750 and $850	The home inspection payment is usually borne by the buyer, but you can choose to have it done before the sale to assess major renovations, in which case you must pay for the inspection.
Real estate broker commission/Brokerage fees	Miscellaneous costs	Because real estate brokers are self-employed, independent workers, their remuneration varies depending on the services and support they offer.
Property value assessment	About $500 or more	Normally the broker estimates the market value, so it’s rare to incur assessment fees, but the broker may recommend it if your property has special features.
Moving	$120–$180 per hour for 2 movers	Moving often involves renting a truck and a moving service .
Thorough house cleaning	$100 - $300	For a family home, the price varies depending on pets, the size of the house and specific needs, such as window cleaning.
Prepayment penalty	Generally equivalent to 3 months of interest	The prepayment penalty depends on many factors, so check with your bank.
Taxes	Generally nontaxable, if it’s your main residence.	If your property is your principal residence, you must report the capital gain, but you may benefit from a partial or tax exemption . Ask your accountant or tax specialist.
Notary	$1,500 - $3000	Notary fees are usually borne by the buyer, but they can also be split between the seller and the buyer.

	Tips and tricks Please note that if you want to resell without having lived in the house for at least 365 days, you will incur an anti-flip tax. This is another fee to consider, if applicable.

3. Choose your real estate broker

You’re looking for someone who can help sell your property. There are many advantages to selling with a real estate broker.

A real estate broker can determine the best time to sell and the appropriate selling price. They list your property, organize and manage visits, negotiate with potential buyers, fill in all the necessary documents for the sale in addition to giving you tips on how to increase the value of your home. In short, they work with you and support you every step of the way.

Word of mouth can be a good way to find a real estate broker, but nothing compares to Centris. With over 15,000 brokers, the options are endless and you’re sure to find a professional who meets your needs. In addition, if you work with a broker, your property will be listed on Centris.ca and gain great visibility. When selling a home, visibility is a valuable asset that helps you to reach a wide range of potential buyers.

During the first meeting with your chosen broker, here are some questions to ask:

When did they get their brokerage license?
Are they a member of a recognized association, such as QPAREB?
Have they made a lot of sales?
How many properties have they sold in your area?
How well do they know the area?
What distinguishes them from other brokers?
What are the contract details and what is their commission?
How do they negotiate during complex transactions?
Do they work alone or as a team?
Can they provide references?
What methods of communication do they use?
What kind of support do they offer?
Etc.

The real estate broker will have you sign an official brokerage contract from the OACIQ, which includes the respective obligations of the broker and the buyer, details of the brokerage fee, description of the property being offered for sale, and other details relating to the sale.

	Tips and tricks Talk to a real estate broker about what you want, your goals and fears about selling your home. Their job is to support you and answer all your questions so that the sale goes as smoothly as possible.

Is selling without a real estate broker a good idea?

You can sell by yourself, but it’s not necessarily the best way to go. Selling without a broker could risk undervaluing or overvaluing the market value of your home, missing out on a large pool of buyers due to limited visibility and not getting personalized support.

You may have false perceptions or beliefs about real estate brokers. Here are 6 myths deconstructed when selling with a broker.

4. Determine the market value of your property and decide on a price

Determining the market value of a property is a crucial step in the sale process. A broker with experience and knowledge about your area will be able to establish the market value by looking at properties that recently sold in your area and that are similar to yours in terms of size, style, age and condition. This comparative analysis makes it possible to understand the value of your house in the current market.

A broker also takes municipal assessment into account, which is an estimate used for tax purposes, although it doesn’t always reflect the current market value. They also assess real estate market conditions, such as supply and demand, interest rates, and general economic trends. By combining these elements, the real estate broker can set a competitive selling price that attracts potential buyers and maximizes the return on investment for the seller.

If your property has special features, your broker may also recommend using a certified appraiser to assess the market value of your home.

	Tips and tricks A competitive price will attract more potential buyers than a price that’s too high and discourages buyers. In addition, a price that’s been lowered several times can give an impression that the house has hidden problems.

5. Prepare the documentation for the sale of your home

Selling your home also means preparing all the relevant documents that the buyers or your broker might ask for and making sure they’re up to date.

1. Certificate of location

A certificate of location is required for a real estate transaction. This document guarantees that the property is compliant. A land surveyor is the only professional who can draw up a certificate of location, which costs about $1,500.

How long the certificate stays valid depends on several factors. The certificate is no longer valid if changes have been made in recent years, such as the addition of a garage, a swimming pool or even just a hedge. Even if nothing has changed, some notaries require a certificate that’s less than 10 years old.

2. Renovation contracts

Was your kitchen renovated or did you have a beautiful in-ground pool put in just a few years ago? Get your renovation contracts out and show the buyers how much the work cost to negotiate a better sale price.

3. Collateral transfer

Did you just get the roof redone? Show your warranty to the buyers. This could tip the scale in favour of the sale.

4. Inspection reports

If you have decided to hire an inspector, get your inspection report out so you can show it to future buyers.

5. Purchase Agreement and Declaration by the Seller

The purchase agreement contains a description of the property, the terms of the sale, the declaration by the seller and much more. You must fill out the declaration and answer a lot of questions about your property to the best of your knowledge. A broker can help you fill it out.

6. Tax bills

Any future buyer will want to look at the municipal and school tax bill and any electricity and gas bills. Get ahead of the game and keep them within reach.

7. Notarized deeds

Get out any documents related to the property (the last deed of sale, the deed of loan, the title deed, etc.).

8. Declaration of co-ownership (if applicable)

The declaration of co-ownership includes all the rules established by the co-owners and administrators.

6. Finish work and repairs before selling your home

You may be wondering if you should finish renovations before putting your house up for sale. The answer is, it depends. As a general rule, it’s always good to make some minor improvements to enhance the appearance of the house and show that it’s been well maintained over the years.

Simple but worthwhile renovations before selling

To get you the best chance of selling, here are some minor renovations and repairs that can be worthwhile before you sell:

Remove old wallpaper
Paint the walls a neutral colour
Change the light fixtures
Replace carpet

These small improvements will make a home look brand new to a future buyer!

As a general rule, here’s a list of home buyer preferences according to a survey conducted for the Canadian Home Builders’ Association.

Walk-in closet
Kitchen island
Energy-efficient appliances
General energy efficiency of the house
Energy-efficient windows
Open kitchen
Air exchanger
Linen closet
Two-car garage

There are also aesthetic qualities that buyers often prefer, including high-quality materials, natural colours and lots of natural light.

Before taking on major renovations, such as renovating a kitchen or finishing a basement, you must think about and decide on the right project given the area and the clientele. For example, if there aren’t a lot of houses for sale in your neighbourhood, you might not have to do any work. We suggest discussing this with your real estate broker, as they are in the best position to advise you.

The importance of cleaning your house before selling it

Increase your chances of selling your home quickly by doing a thorough clean. This seemingly minor yet essential task will showcase the full potential of your home to future buyers. It doesn’t cost much and only requires some elbow grease!

Prepare your home for selling with home staging

Home staging is a way to make a space look appealing to a potential buyer by creating a great first impression and making potential buyers fall in love with your home. It involves setting up furniture, artwork and decorations in certain rooms of the house (these are not sold with the property).

Staging is much more than just decoration, it also depersonalizes the decor and enhances the space by strategically arranging furniture and accessories The goal is to please as many people as possible.

	Tips and tricks Doing a thorough clean is a great idea, but you still have to clean before each visit. You don't want potential buyers to think the house isn't well maintained.

7. List your property and promote it

To get as many visits as possible, it’s now time to put your house up for sale and promote the listing to get an offer as soon as possible.

The art of a great property listing

An online listing is an incomparable marketing tool for selling your home.

On Centris.ca, buyers can search using a variety of criteria, including lifestyle and very precise searches using the Map view. Your chosen real estate broker is a real estate marketing expert. They can help you highlight the best aspects of your property and take care of listing it online.

The listing should have a description of the house, including what distinguishes it from other properties on the market, and it should make buyers want to visit.

Getting professional photos taken is without a doubt an important way to highlight your home. If you’re thinking of selling in winter, make sure to plan ahead and take photos during the summer. Your flower beds and the turquoise water of your pool will help future buyers imagine their next summer in your home. You could even add a few photos in the fall when the colours change.

Virtual tours have a big impact as well. For future buyers, it’s as if they were there! This will increase their likelihood of requesting a real visit. Talk to your broker about this option.

Promoting your property

Did you know that Centris has the largest number of properties for sale and rent and reaches the largest audience in Quebec?

To promote your home, you can choose to do an open house, where several potential buyers can visit at the same time. Your real estate broker will advise you about this option. This can save time while allowing many potential buyers to visit your home.

	Tips and tricks Feel free to complement your broker’s marketing by sharing your property online with family, friends and colleagues.

8. Show your house

Have you received a request for a visit? Our tip is to be flexible!

By accommodating future buyers during visiting hours and during the day, you increase your chances that they are in a good mood when they visit your home. Ideally, leave the property and let your broker handle the visits. Buyers will then be more comfortable asking all their questions.

To increase your chances of selling, and if possible, visits should take place when there is good natural light.

	Tips and tricks Even though you love your dog, it’s best not to have them in the house during visits. It may be hard to believe, but not everyone loves our four-legged friends, and you want to make sure potential buyers can focus on the visit.

9. Go over offers and negotiate

If there have been a few visits and you have received a promise to purchase, now is the time to review the offer with your real estate broker and negotiate the sale of your home with a counter-proposal, if necessary.

Making a counter-proposal

After reading through the promise to purchase, you can accept it, refuse it or negotiate certain conditions such as the date of occupancy, the price, inclusions/exclusions, etc., by making a counter-proposal. Your broker will help you understand the offer and respond to it.

Understanding the conditional promise to purchase

When an unconditional promise to purchase is filed and you accept it, your home is sold. It’s that simple!

But if you have received a conditional promise to purchase, the offer is on hold until the conditions are met or accepted. Possible conditions can be a home inspection, mortgage loan approval, the sale of the prospective buyer’s home, etc.

Be aware that accepting a conditional promise to purchase does not stop you from trying to sell your home to another buyer who might make you an offer with fewer or no conditions. In the event that you receive a second offer and would like to accept it, the first refusal clause, often referred to as the 72-hour clause, comes into play and the seller must notify the original buyer and give them 72 hours to either proceed with the purchase by waiving the conditions or withdrawing from the transaction.

	Tips and tricks Negotiating isn’t just about money. You can negotiate many other aspects of a real estate transaction, including inclusions and exclusions.

10. Sign the deed of sale with a notary

Congratulations! The conditions have been finalized and you have accepted the promise to purchase. Your house is almost sold, all that remains is to formalize the transaction with a notary.

So that you are well prepared for your notary visit, have the following documents in hand:

Proof of identity
Certificate of location
Declarations by the seller
Previous deed of sale
Mortgage deed
Declaration of co-ownership (if applicable)
Tax, electricity, water and gas bills
Invoices for prior renovations

A notary is very important in a real estate transaction. Before concluding the sale, they must verify that you are the owner, that you have the right to sell this property, if a third person must agree to the sale, if the dimensions of the land are accurate, if there are rights of way, etc. A notary must also prepare several legal documents that you and the buyer will have to sign at the meeting, including title deeds, the mortgage deed and the deed of sale.

If you sell your property and buy another one, you will have to go to a notary twice, first to complete the sale of your current property, and second to complete the purchase of your new home. Notary fees for the sale of a house in Quebec are between $1,500 and $3,000. This amount is usually borne by the buyer, but it can also be split between the seller and the buyer.

	Tips and tricks Some properties may be sold without a legal warranty. If this is the case for your house, the promise to purchase and the deed of sale must mention that the sale is made without legal warranty, at the buyer’s risk .

11. Move and hand over the keys

You have finalized the transaction with a notary, it’s time to organize your move. Did you know that some moving expenses are tax deductible?

Several weeks before moving

You'll have to sort through your possessions and give away what you don't want anymore, which will result in less things to move. Buy moving boxes and supplies and book movers or rent a truck.

Leading up to moving day

Pack your boxes and label them. Remember to remove items excluded from sale (some lights, curtains, etc.) and clean the house thoroughly. It's always better for new owners to move into a clean house. And don’t forget to make your address changes and transfer your services.

A few days before and on the day of the move

Pack bags with essential clothes and empty most of your fridge.

The keys are sometimes handed over to the notary at the same time as the signature. If you wish, you can offer buyers a visit with explanations concerning the different elements of the house (electrical panels, swimming pool, well, water softener or heat pump, etc.).

	Tips and tricks Did you know: You can reserve verified movers through MovingWaldo , so you can have peace of mind when moving. Also use their address change tool to make all your changes in one place. It’s simple and efficient!

12. A few last tips for selling your home

The real estate market is fascinating and ever-changing. If you are unable to sell your home, there are several factors that may explain why.

Real estate has faced many challenges in recent years and ownership is not always easy for a buyer. However, the market recovered in recent weeks with an increase in sales that is expected to continue. This is following the Bank of Canada’s announcement in early June 2024 that it was cutting key interest rates, which it hasn’t done since 2020.

Being prepared to successfully sell your home

Selling a home generally only happens a few times in one’s life. Consult the Centris directory to find the perfect real estate broker for the area where your home is located to support you in this step.

Frequently asked questions (FAQ)

1. How long does it take to sell a house?

There are several factors that come into play when it comes to selling your home. For some, it can be as fast as three or four weeks. For others, patience will be required. In the first quarter of 2024, the average selling time was 64 days for a single-family home.

2. Should I do some renovations before I sell?

Yes and no. Certainly, some repairs and a good cleaning are necessary before putting your house up for sale. Before taking on any major renovations, consult a professional. A real estate broker who knows your area well will guide you and answer your questions.

3. When is the best time to sell my house?

Usually, the best time is in spring and summer, but it is possible to sell your house at any time of the year.