Seller questions, answered

It depends most on what similar homes on nearby streets sold for in the last few months. We pull those sales and send you a price range with the comparables attached.

Spring, from March to early June, usually brings the most buyers in Vaughan, with a second, smaller wave in September and October. Families want to move before the new school year, so both listings and sales rise in spring. The best time for you also depends on how many similar homes are for sale; fewer listings in winter can mean less competition for your home.

The main costs are real estate commission plus 13% HST on it, legal fees, and paying out your mortgage, including any penalty. Sellers do not pay land transfer tax.

Yes, in most cases. Staged homes photograph better and help buyers picture living there, and most buyers see your home online before they see it in person. Cost ranges from a few hundred dollars for a consultation using your own furniture to several thousand for a vacant home. Michael tells you which rooms matter most.

Hold an offer date when you expect several buyers, and take offers any time when the market is slower or the home is one of a kind. An offer date, usually about a week after listing, gives every buyer time to see the home and can create competition. If few buyers are active it can backfire, so we look at showings and the market that week before deciding.

Paint, lighting and small repairs return the most. Fresh neutral paint, bright modern light fixtures, fixing leaky taps, cracked tiles and worn caulking, and a tidy front yard cost little and change how buyers see the home. Big projects like a new kitchen rarely pay back their full cost right before a sale.

Yes. Your lawyer pays out the mortgage from the sale proceeds on closing day. Ask your lender about any prepayment penalty first.

Yes. A real estate lawyer transfers the title to the buyer, pays out your mortgage from the sale proceeds and handles the closing funds. Hire one as soon as your deal is firm.

An offer sent before the seller’s offer date, usually strong and open for only a few hours, to try to buy the home before other buyers compete. The seller can accept it, counter it or ignore it and wait for the offer date.

Usually not on your principal residence: the principal residence exemption generally covers the gain on the home you live in. Investment and rental properties are taxable, so talk to your accountant before you sell one.

Yes. The tenancy carries on with the new owner unless the buyer, or a close family member, will move in. In that case the tenant gets an N12 notice with at least 60 days, ending on the last day of a rental period, and one month’s rent as compensation. We plan the timing with you before listing.

We change something: usually the price, the presentation or the plan. If a home sits, buyers are telling us the price does not match what they see. We review showing feedback, compare against what sold nearby, refresh the photos and description, and decide together whether to adjust the price or relaunch.

A local realtor knows the streets, the recent sales and the buyers in your area, which means sharper pricing and better negotiation. Michael has been licensed since December 2011, works out of the RE/MAX Premier office on Rutherford Road in Vaughan, and his own media company, Toronto Property Media, shoots every listing.