SELLER INFO


Taxes are to be paid on the sale of property. This amount varies between non-residents and residents of Canada. This amount is to be retained by the seller’s lawyer until a clearance certificate is received from the Canada Revenue Agency (CRA) in connection with the sale of the property. Upon payment, the CRA will issue a clearance certificate to the seller, but not until there has been a contract of purchase and sale with all subjects (conditions) removed. The wait for the certificate is usually 6-8 weeks. If the certificate is not obtained, the purchaser is required to withhold from the sale proceeds, a percentage of the selling price (usually 25-50%).


On the closing date (or before), mortgage money is transferred to the seller’s lawyer, and the property title is signed over to the purchaser.


Non-residents are required to file an income tax return, and will receive a portion of the taxes paid back.


Many countries, such as the U.S., have tax treaties with Canada that prevent you from being taxed in both Canada and your home country. It is advisable to contact a tax accountant in your country for more information.

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If you're ready to sell, reach out to the Ed Dale team for your free home assement!


6 STEPS TO SELLING A HOME 

  1. Find a Real Estate Agent

There are a lot of elements to concentrate on when selling a home, working with a qualified real estate agent will ease you of stress and confusion. 


Before you start searching for realtors, make a list of your expectations and questions. It will narrow your search and keep you on track when you start meeting/talking with potential agents. 


Consider the following questions: what are your marketing strategies, what is your average turnaround time, how experienced are you in this area, what services do you provide, how often are you available, what do you think of my property, etc. 


Check out their google reviews and rate my agent page, read their bio and analyze their website, review their current listings, meet with them in person if possible, and go with your gut feeling. 

  1. Evaluate and Price Your Home 

After you pick a realtor, work with them to price your home. A home evaluation is recommended so you can gauge a price range. 


The Ed Dale Team will offer market insight and be transparent about the worth of your home. 


Pricing is one of the most important steps for sales and it changes whether there is a seller’s or buyer’s market. If possible, you always want to list when it’s a seller’s market. 


Accuracy is key. Pricing too high will market it to the wrong buyers, constant price drops might scare off appropriate buyers. Pricing too low will cost you profits and may leave you in financial trouble. 


Ask your agent for a comprehensive market analysis if they haven’t already provided one. 


Your realtor will discuss necessary repairs, maintenance, and recommendations like staging or upgrades. 


If you’re considering FSBO, read this blog first.

  1. Prepare For Showings and Open Houses  

Homebuyers always request a house inspection: your roof, foundation, plumbing, electrical, HVAC, etc., will be looked at closely. 


That means you should inspect your property thoroughly beforehand. You nor the potential buyers want any surprises. 


Once everything is properly functioning (or as much as you can afford), it’s time to consider small upgrades that can increase the value of your home or its appearance for showings. 


Small upgrades like painting a feature wall, replacing hardware or installing new light fixtures can make your property more attractive to potential buyers, plus it’s cost-effective. 


Once the upgrades are done, it’s time to freshen up your space. If you’re staging the place yourself you need to declutter, hide personal photos, add light scents, rearrange your furniture to emphasize the space and make sure it’s completely cleaned before each viewing. 


Hiring a professional stager can give you an edge over your competitors, but it’s all dependent on your budget. 


Several small tasks can enhance your selling experience


You want your property to feel like a home, but not have any distracting personalizations, so the potential buyer can visualize their life. 


After your condo or house is staged, professional photos and videos are taken so a listing can be created. 

  1. Showing Your Home 

After your condo/house is listed, an open house will be planned or bookings for viewings will be accepted. 


When your house or condo is being shown, keep two things in mind: trust your agent and present your home immaculately every single time. 


Make arrangements for your pets, young children or even yourself. The fewer distractions, the better. 

  1. Offers and Negotiations

This can’t be stressed enough, trust your agent. Realtors are experts at reviewing offers and negotiating terms. 


The process can be time-consuming and emotionally draining if you don’t receive offers you’re thrilled about or it’s time-sensitive. 


This is why it’s important to pick a realtor you trust and are comfortable with. The Ed Dale Team will walk you through every step and reassure you of the appropriate measures to take. 


Understand the contingencies the buyer requests, consider if they’re preapproved, think about your timeframe and your ultimate goal.

  1. The Closing Process

You’re almost done! The house or condo will be inspected and depending on how this goes, one of two things will happen. 


The inspector will find areas of improvement meaning repairs or a price adjustment will be negotiated. Flexibility and compromise are needed so the deal doesn’t fall through. 


Alternatively, the best-case scenario will happen and the inspection and any other conditions will come back clear. 


Collect and pay all fees, sign on the dotted line and your property will be sold. 


BENEFITS OF THE ED DALE TEAM

  • Wide-range marketing efforts

  • Cutting edge technology

  • Professional marketing material 

  • 40+ years of combined experience

  • Superb reputation and track record

  • Experts in South Winnipeg and surrounding areas

  • Responsive and continuous feedback 

  • Personal contacts and a large network

OTHER RESOURCES FOR SELLERS 



Resources

Winnipeg Real Estate Market : MLS Map & 2022 Statistics
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