Seller FAQ's

Pre-qualification is just an estimate of what you might afford, usually based on self-reported income and debt. Pre-approval is more serious. A lender reviews your credit, income, and documents. In Inner-City Calgary, pre-approval is crucial because homes often attract multiple offers, and sellers see pre-approved buyers as stronger candidates.

Pricing depends on comparable sales, current market trends, and the unique features of your home. For example, a renovated Scarboro character home will be priced differently than a brand-new Altadore infill. Your REALTOR® will prepare a comparative market analysis (CMA) to help you set a competitive price that attracts buyers and maximizes your return.

Yes. Buyers connect emotionally with staged homes and often view them as better maintained. In Inner-City Calgary, staged condos in Beltline or duplexes in Killarney tend to sell faster and for more than homes that are not staged.

Absolutely. Most buyers first see your home online, and high-quality photos are what make them want to view it in person. For inner-city listings, drone shots can highlight proximity to downtown, parks, or river pathways. Poor photos can make even a beautiful home sit on the market longer than it should.

A CMA is a detailed report prepared by your REALTOR® that compares your property to similar homes in terms of size, year built, number of bedrooms, and bathrooms. It includes homes that have sold, are active, or expired in your area. For example, if you’re selling in West Hillhurst, your CMA will focus on other infills there and possibly in surrounding neighborhoods to determine a realistic price.

Minor fixes such as paint, lighting, baseboards, and flooring almost always help. Bigger-ticket items depend on the market. In a strong seller’s market, buyers may overlook them, though it’s still smart to address as much as you can. In a slower market, updated homes stand out. Inner-city buyers prefer move-in ready homes, so fixing obvious issues usually pays off.

The largest cost is REALTOR® commission, usually 7% on the first $100,000 and 3% on the balance, split between buyer and seller agents. Legal fees are typically $1,500 to $2,500. You should also budget for moving expenses and possibly mortgage payout penalties if you’re breaking your term early.

Most real estate lawyers in Calgary charge between $1,000 and $2,500 for sellers. This covers reviewing documents, handling the title transfer, and making sure funds are transferred securely.

If the property is your primary residence, you don’t pay capital gains tax in Canada. If it’s a rental or investment property, you may owe tax on the profit. Many inner-city investors with condos or suited infills should consult an accountant before listing.

A conditional offer means the buyer has conditions to meet, such as financing or inspection. A firm offer means all conditions are waived and the sale is final. In multiple-offer situations, firm offers are usually stronger for sellers.

Your REALTOR® will review each offer with you, looking at more than just price. Deposit size, possession date, conditions, and buyer flexibility all matter. In popular inner-city neighborhoods like Altadore, South Calgary, Richmond, Bridgeland, or Crescent Heights, multiple offers are common. The right strategy ensures you accept the offer that best fits your goals.

A lawyer manages the legal side of the sale. They review contracts, confirm mortgage payouts, transfer the title, and ensure you receive the funds safely. They also coordinate the details of closing on possession day.

On possession day, your lawyer confirms the funds have been received, then releases the keys to the buyer’s REALTOR®. Sellers are expected to have moved out, leaving the property in broom-swept condition.

If the offer was still conditional, the buyer can walk away and your home goes back on the market. If the deal was firm, the buyer could lose their deposit, and you may have the right to pursue legal action. While rare, this is why deposits and pre-approvals are important.

It depends on your goals and the offer itself. Sometimes the first offer is the strongest, especially in competitive neighborhoods, but you should review all terms, not just the price, and consult with your REALTOR® before deciding.

Your REALTOR® will compare it against your CMA, the level of activity in your neighborhood, and how long you’ve been listed. In many cases, there’s room to negotiate. Lowball offers are common, but they don’t necessarily mean the buyer isn’t serious.

A buyer’s condition is something they must satisfy before the deal is firm, such as financing approval, inspection, or condo document review. Until those conditions are waived, your property isn’t officially sold, though most sellers won’t accept another offer in the meantime.

A holdback is when a portion of the funds are held in trust by the lawyer until a condition is met, such as a repair being completed or seasonal work like landscaping. They are less common but sometimes necessary. It’s generally best to avoid holdbacks if possible.

Yes. Most sellers still have a mortgage when they sell. Your lawyer will pay it off using the sale proceeds before releasing your funds. If you’re breaking your mortgage early, you may face penalties. If you have a favorable interest rate, you may be able to port your mortgage, depending on the lender and terms.

A seller’s market happens when there are more buyers than homes available, often leading to bidding wars. A buyer’s market is when inventory exceeds demand, giving buyers more negotiating power. Recently, Inner-City Calgary has been leaning toward a seller’s market due to high demand and low supply, but conditions are shifting toward a more balanced market

Higher rates reduce buyer affordability, which can limit the pool of buyers. Lower rates expand affordability. Even with high interest rates, inner-city homes tend to stay in demand because of their desirable locations.

It depends on your financial goals. Renting can provide cash flow and long-term equity growth, especially in areas like Beltline, Lower Mount Royal, East Village, or Mission where rental demand is strong. Selling might be the better option if you want to access equity or move up into another property.