Process of Real Estate Sale

STEP 1

PROSPECTIVE SELLER

Inquiry to Broker

When making an inquiry, please provide details such as a summary of the property and your desired sales price.

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STEP 2

REAL ESTATE BROKER

Property Valuation

Broker will calculate a realistic sales price based on the state of the property and other factors such as local market trends.

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STEP 3

PROSPECTIVE SELLER

Sale Request

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.

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STEP 4

REAL ESTATE BROKER

Marketing Property

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.

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STEP 5

PROSPECTIVE BUYER

Inquiries from Buyers

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.

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STEP 6

PROSPECTIVE SELLER and
​REAL ESTATE BROKER

Offer Review

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.

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STEP 7

PROSPECTIVE BUYER

Contract

Closing of the contract.  Receive 10% as deposit, pay stamp duty and 1/2 of agency fee at contract.

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STEP 8

SELLER AND BUYER

Closing

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.

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STEP 9

SELLER

Tax Payment

Arrangement of a tax accountant if necessary.

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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.