Paperwork for Selling a House Without a Realtor in Canada

Selling a house without a realtor in Canada can be a rewarding but it is also a very difficult and challenging process. It comes with its own risks, complications and consequences that might cost you thousands of dollars at the end but if you still want to sell your house without a realtor; you can use this comprehensive guide to know about all the documents you need and the steps you should take to ensure a smooth transaction.

Key Documents Needed

1. Property Disclosure Statement (PDS) AKA Seller’s Declaration

This document discloses any existing issues with the property that the seller is aware of. It includes information on structural damage, plumbing, electrical systems, and any other relevant details. It’s crucial for protecting the seller from future legal disputes.

2. Agreement of Purchase and Sale AKA Promise to Purchase

This is the formal contract between the buyer and seller outlining the terms and conditions of the sale. It should include:

• The purchase price
• Closing date
• Deposit amount
• All the other Conditions (e.g., financing, home inspection)

3. The Deed

• You need to have your deed of sale that proves you are the owner of the property. If you have lost it, you can contact the notary who previously issued you this document. They can issue a new one for you at an additional cost.

4. Mortgage Documents

If you have an existing mortgage on the property, you’ll need to provide documentation related to it and send it to your notary. This includes the mortgage balance and any discharge fees that need to be paid upon selling the property.

5.Certificate of Location

The Certificate of Location is a document prepared by a land surveyor that demonstrates the current state of your property. It cannot be older than 10 years. Additionally, if you have made significant changes to your property, you will need to order a new certificate. The notary will not allow the sale of your property without a current Certificate of Location.

6. Utility Bills and Tax Receipts

Providing recent utility bills and property tax receipts can help the buyer estimate the ongoing costs associated with the property.

7. Proof of Identity

Both parties involved in the transaction will need to provide proof of identity to prevent fraud.

Steps to Selling a House Without a Realtor

1. Determine the Market Value

Conduct a comparative market analysis (CMA) to determine the fair market value of your property. You can use online tools, public records, and information on recent sales in your area.

2. Prepare Your Home

Make necessary repairs and improvements to enhance the property’s appeal. Consider staging the home to make it more attractive to potential buyers.

3. Market Your Property

If you decide to sell your property without a realtor, you cannot list your property on MLS, which is directly synchronized with dozens of real estate websites. This means you may have less exposure and, consequently, less buyer interest than usual. Instead, list your property on free real estate websites, social media, and local classifieds. Ensure your listing includes high-quality photos, a detailed description, and your contact information.

4. Host Open Houses and Showings

Schedule and host open houses and private showings. Be prepared to answer questions and provide information to potential buyers.

5. Negotiate Offers

Review and negotiate offers from potential buyers. Be clear about your terms and willing to compromise where necessary.

6. Complete a Title Search

Hire a title company or real estate lawyer to conduct a title search and provide a title certificate.

7. Close the Sale

On the closing date, you will meet with the buyer to sign all necessary documents. Ensure all conditions in the Agreement of Purchase and Sale are met. You will exchange the keys, and the lawyer or notary will transfer the sale proceeds to you within a few business days. Keep in mind that if you have a mortgage balance, the lawyer or notary will pay your bank first and transfer the remaining amount to you

Selling a house without a realtor in Canada requires careful planning and attention to detail, especially regarding paperwork. By understanding the necessary documents and following the outlined steps, you can successfully navigate the process and complete your sale.