Selling Your House Privately In New Brunswick

Selling your house privately in New Brunswick can be a complicated and time-consuming process, but it is possible to do it alone. Most people who sell property in New Brunswick do so with the help of an agent, but this comes at a cost – typically 5% of the sale price. If you have the time and ability to sell your property alone, you could save this fee. However, you will need to be comfortable setting a sale price and negotiating offers, and you will have to spend time and money advertising your home and showing it to potential buyers. You will also need to consider extra costs such as legal fees and closing costs.

Preparing your house for sale: Clean and detail your house, and address any noticeable issues

Selling a house is a big transaction, and you only get one chance to make a first impression. Here are some steps you can take to prepare your house for sale and address any noticeable issues.

Declutter and deep clean

A clean and tidy house is more appealing to buyers. Remove any clutter, such as unnecessary furniture, personal photos, and items from countertops and cabinets. You may want to rent a storage unit to store these items. A deep clean can make a big difference—consider hiring a professional cleaning service to save time. Don't forget to clean carpets and rugs, or hire a professional carpet cleaning service.

Identify and address repairs

Go through your home room by room, noting any repairs that need to be made. Look for holes or dents in walls, ensure floors are free from cracks or chips, and check that appliances, cabinets, and drawers are in working order and open and close properly. Check for leaks and ensure your heating, ventilation, and air conditioning systems are working properly. Address any issues with the exterior of your home, such as damage to decks or patios, or fencing in poor condition. Some repairs may be simple DIY projects, while others may require hiring a professional.

Depersonalize your home

Remove personal items such as family photos, souvenirs, and religious symbols. You want buyers to be able to envision themselves living in the space. Updating accessories and furnishings can also help achieve this, especially if your décor is outdated or unique.

Paint where needed

A fresh coat of paint can make a home feel new and help small rooms appear larger. Focus on areas that need touch-ups, such as scuff marks or stains on walls or baseboards. Consider using warm neutral colours such as beige, tan, grey, or "greige" (a blend of grey and beige).

Boost curb appeal

The exterior of your home is just as important as the interior. Ensure your yard is tidy and inviting. Mow the lawn, trim bushes and shrubs, and freshen up the mulch. Add some colour by planting flowers in the front yard or on the porch. Wash the house, including all windows, and check that the front gate and letterbox are clean and in good condition. Consider painting your front door and adding a new doormat.

Gather documentation: Obtain a history report, service records, and prepare a bill of sale

When selling your house privately in New Brunswick, it is important to gather all the necessary documentation. This includes obtaining a history report, service records, and preparing a bill of sale. Here are some detailed steps to help you through the process:

History Report:

A history report provides valuable information about the property and can be a useful tool for potential buyers. You can obtain a history report by searching through public records or using online services. Check if your city or county has public records accessible online. You can use the Public Records Online Directory portal to search for records maintained by your county. Many counties now offer a Geographic Information System (GIS) on their websites, which allows you to navigate to the property address and view parcel details, including any changes to the square footage, additions, or renovations.

You can also use online services such as BeenVerified, which can provide information about the current and previous property owners, sales history, and home value. Additionally, you can refer to the National Register of Historic Places to search for historic homes. If the property you're selling is not listed there, you can check the State Historic Preservation Office (SHPO) as some states maintain their own official lists of historic properties.

Service Records:

Service records are essential for providing transparency and peace of mind to potential buyers. These records should include any maintenance or repair work done on the property, as well as any renovations or improvements. It is crucial to have permits and disclosures related to renovations to ensure compliance with building codes and regulations. Keep copies of all warranties for appliances, roofing work, pest control, and other services, as these can be transferred to the new owner upon sale.

Bill of Sale:

The bill of sale is a crucial document in the home selling process. It serves as a legal contract between the buyer and the seller, outlining the terms of the transaction. The bill of sale should include the property's address, a detailed description of the property, the sale price, the closing date, and any other relevant terms and conditions. It is important to review all local laws and regulations regarding the bill of sale to ensure compliance. Additionally, consider seeking legal advice to ensure that your bill of sale is comprehensive and protects your interests.

By gathering these documents, you can provide potential buyers with the information they need to make an informed decision. It also demonstrates your transparency and builds trust in the selling process. Remember to keep both electronic and physical copies of these records for your reference and to provide to the new owner upon the completion of the sale.

Set a competitive price: Research the market to determine a fair price for your house

Setting a competitive price for your house in New Brunswick involves researching the market to determine a fair price. This process involves considering various factors that can impact the value of your home. Here are some instructive guidelines to help you set a competitive and fair price:

Location

The location of your house is a crucial factor in determining its value. Properties in desirable neighbourhoods, with good school systems, community services, and convenient access to amenities like grocery stores, tend to command higher prices. Consider the unique features and advantages of your house's location and compare it with similar properties in the area.

Market Conditions

Understanding the current market conditions is essential when setting a competitive price. In a buyer's market, there is an abundance of homes available and fewer buyers, which can lead to properties selling below market value. On the other hand, in a seller's market, the scarcity of homes for sale and an excess of buyers can drive prices above market value. Recognising whether it is a buyer's or seller's market will help you price your home competitively.

Property Taxes

Property taxes can significantly impact the value of your home. Research the property taxes in your area and consider how they might influence the asking price. Higher property taxes may require a higher selling price to compensate.

Home Condition

The condition of your home will play a role in determining its value. If your property requires significant repairs or upgrades, it may be valued lower than a well-maintained home. Consider the necessary improvements and their potential impact on the asking price.

Recent Sales

Researching recent sales of comparable homes in your area is essential. Examining the selling prices of similar properties will provide valuable insights into the current market value. Look at the final sale prices, not just the listing prices, as they reflect the true market value.

Features and Upgrades

Consider the unique features and upgrades your home offers. For example, if you have recently renovated the kitchen or added energy-efficient appliances, these can be selling points that may justify a higher asking price.

Professional Appraisal

Consider hiring a professional appraiser to assess your home's value. They will consider all the relevant factors and provide an unbiased opinion of your property's market value. This can be a worthwhile investment to ensure you set a competitive and fair price.

Comparable Listings

While researching recent sales is essential, also look at the current listings of comparable homes in your area. These listings represent your competition, and understanding their pricing strategies can help you position your home competitively.

Flexibility

When setting your asking price, consider building in some flexibility for negotiations. Buyers often expect to negotiate, so leaving some room for adjustments can increase your chances of a successful sale.

Timing

Research historical data on property sales in your area to identify any seasonal trends. For example, in some markets, spring and summer are considered the best times to sell a house, as buyer demand tends to be higher. Timing your sale to coincide with periods of high buyer activity can increase competition and potentially drive up the selling price.

Remember, setting a competitive price for your house in New Brunswick requires thorough research and consideration of various factors. The above guidelines will help you make an informed decision when determining a fair price for your property.

Advertising your house: Create a detailed listing with high-quality photos, and choose the right platforms

Advertising Your House

Creating an effective listing for your house is a crucial step in the selling process. Here are some tips to help you create a compelling listing and choose the right platforms to reach potential buyers in New Brunswick:

Create a Detailed Listing:

• Description: Start by writing a clear and concise description of your property. Include essential details such as the number of bedrooms and bathrooms, and any unique features or upgrades. Highlight the strengths of your home and be sure to mention any recent renovations or improvements.
• Highlights and Features: Think about what makes your home stand out. Does it have a spacious backyard, a newly renovated kitchen, or an energy-efficient heating system? Be sure to include these features in your listing.
• Location Benefits: Highlight the advantages of the location. Is it situated in a desirable neighbourhood? Close to good schools, parks, or public transport? Mention anything that makes the area attractive to potential buyers.
• Clear and Attractive Language: Use language that is easy to understand and avoids unnecessary jargon. Focus on the positive aspects and use descriptive words that evoke a sense of appeal.

Take High-Quality Photos:

• Clean and Tidy: Before taking photos, ensure your house is clean and tidy. A well-presented home will be more attractive to potential buyers. Consider simple improvements such as fresh paint, well-maintained gardens, and decluttering to enhance the visual appeal.
• Lighting: Take advantage of natural light by capturing photos during the day. Open curtains and blinds to let in as much light as possible. Bright and well-lit spaces tend to be more inviting in photographs.
• Angles and Composition: Experiment with different angles and compositions to showcase the best features of each room. Take photos from a corner or doorway to capture a sense of space. Highlight unique architectural details or attractive views from windows.
• Consistency: Try to maintain consistency in your photos by using similar lighting, angles, and styles throughout. This creates a more professional and cohesive look for your listing.

Choose the Right Platforms:

• Online Listing Websites: There are various online platforms specifically designed for real estate listings, such as Point2, Trulia, and Re/Max. These websites allow you to create detailed listings with photos, descriptions, and other relevant information. They provide broad exposure to potential buyers who are actively searching for properties.
• Social Media: Utilise social media platforms such as Facebook, Instagram, and Twitter to reach a wider audience. Create posts or ads highlighting the key features of your property and include a link to your full listing. You can also join local community groups on these platforms to spread the word about your listing.
• Local Classifieds and Newspapers: Don't underestimate the power of local classifieds and newspapers. Many people still turn to these traditional sources when looking for properties in their area. Place ads in local newspapers or online classifieds websites specifically targeting New Brunswick residents.
• Networking: Word-of-mouth can be a powerful tool. Spread the news about your listing through your network of friends, family, and colleagues. You never know who might be looking for a property or know someone who is.

Remember, when creating your listing, it's important to be honest and accurate in your description and always present your home in the best possible light through high-quality photos and appealing language.

Meeting with potential buyers: Ask relevant questions, verify their identity, and accompany them on a house tour

When selling your house privately in New Brunswick, meeting with potential buyers is a crucial step. Here are some tips to help you navigate this process effectively:

Ask Relevant Questions

Before scheduling a visit, it is recommended to ask potential buyers a few questions to determine their seriousness and save both your time and energy. Here are some suggested questions to ask:

• Can I have your contact information? It is essential to know who you are dealing with and to have their information for confirming visit dates and sending documents.
• Have you looked at the listing? This question helps validate if the buyer's needs align with what your property offers in terms of location, type of property, and price.
• What is your preferred occupancy date? Knowing their expected move-in date helps you understand if your timelines align and if an agreement is feasible.
• Are you a homeowner? This helps clarify their financial capacity and intentions. If they need to sell their current home first, their offer may be conditional, and you'll need to factor that into your planning.

Verify Their Identity

When dealing with potential buyers, it is important to verify their identity and intentions. Ask for their contact information, and if they are working with a real estate broker, the broker should identify themselves and disclose their intentions. This transparency helps initiate a completely transparent process and build trust between both parties.

Accompany Them on a House Tour

When showing potential buyers your home, be prepared to answer their questions and address any concerns they may have. Here are some tips to make the house tour a positive experience:

• Be open and transparent: Provide clear and accurate information about your property and the surrounding area. Address any issues or repairs that have been made, and be honest about any problems you are aware of.
• Highlight the best features: Showcase the unique aspects of your home and how it meets their needs. Point out any recent upgrades or improvements that add value to the property.
• Be persuasive and confident: Answer their questions with assurance and highlight the benefits of living in the neighbourhood. Share your positive experiences to help them envision themselves living there.
• Be prepared to negotiate: If the potential buyer is enthusiastic about your property, be ready to discuss the offer and negotiate terms. Know your bottom line and what you are willing to compromise on to reach an agreement.

Remember, selling a house privately involves a lot of responsibility and work. Be prepared to put in the time and effort to market your property, handle paperwork, and navigate the complex process of selling real estate. Alternatively, you can engage the services of a real estate agent to assist you in the process, although this will incur additional fees.

Frequently asked questions