For Sellers
Freehold Property - Condominium
Freehold Property
Step-by-Step Process
1. Research market value and consult a licensed real estate agent.
2. Prepare the home: repairs, staging, professional photos.
3. List property on MLS with marketing strategy.
4. Schedule showings and open houses.
5. Receive offers and review with your agent.
6. Negotiate terms and accept the best offer.
7. Lawyer reviews agreement and prepares closing documents.
8. Fulfill agreed conditions (repairs, inclusions, etc.).
9. Provide utility account info and property tax adjustments.
10. Closing day: Receive remaining balance after mortgage payout.
Self-Check
Questionnaire
✔ Do I know the current market value of my home?
✔ Am I prepared for staging and showings?
✔ Do I understand costs (agent commission, lawyer fees)?
✔ Am I clear on inclusions/exclusions (appliances, fixtures)?
✔ Do I know my mortgage payout amount?
Condominium
Step-by-Step Process
1. Consult a licensed real estate agent and determine condo value.
2. Prepare unit: decluttering, staging, cleaning.
3. Obtain Status Certificate from condo management.
4. List property on MLS with professional photos and marketing.
5. Allow showings and open houses.
6. Review offers and negotiate terms.
7. Lawyer prepares documents and reviews agreement.
8. Provide disclosure of maintenance fees and special assessments.
9. Complete adjustments for condo fees, utilities, and taxes.
10. Closing day: Receive funds after lawyer settles payouts.
Self-Check
Questionnaire
✔ Do I know the fair market value of my condo?
✔ Am I ready to order and provide the Status Certificate?
✔ Do I understand all condo fees and assessments?
✔ Am I prepared for staging and marketing?
✔ Do I know my mortgage balance and legal costs?
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Information is deemed reliable but not guaranteed. Sourced in part from the Toronto Regional Real Estate Board (TRREB). Provided solely for consumers with a bona fide interest in the purchase, sale, or lease of real estate. Unauthorized use, reproduction, or distribution is strictly prohibited.