Selling Guide

Listing Agreements

The process of selling a home begins with the Listing Agreement. It's a contract between you and Royal LePage that builds the framework for subsequent forms and negotiations. It's important that the listing agreement accurately reflects your property details and clearly spells out the rights and obligations of all parties. Once the listing agreement is signed, both you as the property owner and Royal LePage as your selling agent are bound to its terms and conditions.

By signing the Listing Agreement, you are appointing Royal LePage as your sales agent with the authority to find a buyer for your property. The agreement sets the duration of the listing period, states the listing price, and describes in detail the property you are selling. This includes information like lot size, building size, building style and materials, floor areas, heating/cooling systems, room sizes and descriptions.

It is at this point that you will decide what you are taking with you and what you are leaving with the house. Generally, unless stated otherwise, fixtures remain with the property, while chattels(things which are movable) aren't included in the sale. If necessary, what will stay and what will go are listed under "inclusions" or "exclusions".

Finally, the Listing Agreement also sets out the financial conditions of the property, including the mortgage balance, monthly payments on the mortgage and the due date of the mortgage. It will also provide information about annual property taxes; references for any easements, rights of way, liens or charges against the property.

Disclosure is a very important part of the Listing Agreement. It is a seller's obligation to disclose all of the facts about a property for sale. The buyers will need to know material facts about the property - that is, anything that could materially affect the sale price or influence a buyer's decision to buy it. A major cause of post-sale disputes and lawsuits center around defects and disclosure, but most disputes can be avoided if honest disclosures are made. Intentionally withholding information about a property when selling can have legal consequences.

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