Process of Real Estate Sale

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.