Step 1 Inquiry to Broker PROSPECTIVE SELLER | When making an inquiry, please provide details such as a summary of the property and your desired sales price. |
Step 2 Property Valuation REAL ESTATE BROKER | Broker will calculate a realistic sales price based on the state of the property and other factors such as local market trends. |
Step 3 Sale Request PROSPECTIVE SELLER | Once the terms of sale and other conditions have been agreed, broker will accept the sale request. Prospective seller and broker will then sign a brokerage contract. |
Step 4 Marketing Property REAL ESTATE BROKER | Broker will post property details online, share information on REINS with other agents, and advertise the property using leaflets and other such media, in order to find prospective buyers. |
Step 5 Inquiries from Buyers PROSPECTIVE BUYER | Broker and prospective buyer visit property, check conditions and details. After checking each details, submit a purchase application for negotiation and arranging a sales contract. |
Step6 Offer Review PROSPECTIVE SELLER and REAL ESTATE BROKER | Review of the negotiation price, schedules of contract sign and closing, method of payment from prospective buyer. If the negotiation is acceptable, confirm accepting sales. |
Step 7 Contract PROSPECTIVE BUYER | Closing of the contract. Receive 10% as deposit, pay stamp duty and 1/2 of agency fee at contract. |
Step 8 Closing SELLER AND BUYER | Sign on required certifications for deliver of title and property, receive remaining and pay required remaining costs at closing. Then, give deed and keys to buyer, ask necessary paper works to judicial scrivener. |
Step 9 Tax Payment SELLER | Arrangement of a tax accountant if necessary. |
During the contract closing and possession stages, the following actions are required:
‣ preparation of registration documents in lieu of resident proof and name stamp certification;
‣ remove personal items from property, cancel electricity, gas, water and other related contracts ; and
‣ ask confirmation of deed and required certifications.