CHAPTER 14 Preparing to Market
STEP 1: PREPARING TO PUT YOUR HOME ON THE MARKE N THE MARKET
There are several steps you need to take to prepare your property for showing. This is time-consuming, so give yourself room between deciding to sell and putting a sign out front. Prepare for lots of paperwork. One of the first steps is getting all the appropriate paperwork in order. The list is extensive. Requirements often vary by province, city, and municipality. Check with a local real estate broker to find out exactly what you need. Be prepared to provide a title insurance, which, in Canada, is defined as “an insurance policy that protects… the homeowner… against challenges to the ownership of their home or from problems related to the title to their home. The policy provides coverage against losses due to title defects, even if the defects existed before they purchased [the home” (source: RBC Royal Bank of Canada). Banks require that you present this before loan approval can be made, so have it within arm’s reach before you nail down a buyer. Title insurance can be tricky, and a professional notary must handle the whole situation. The norms of who pays for title insurance differ across Canada, but generally. , the seller provides title insurance for the buyer. Updated surveys are sometimes required. Some areas require a land survey if the home buyer is using a mortgage loan to 75
Powered by FlippingBook