The loft seller's guide
Seven steps to selling your loft for top dollar, written for Ontario loft owners.
1. Start with your own building
Buyers and their agents will compare your loft with the last few sales in your building, then with the buildings they see as its rivals. Know those numbers before you pick a price: the sold price, the size, the floor and exposure, and whether the suite came with parking and a locker. Our free loft evaluation pulls them together for you.
2. Order the status certificate early
Almost every offer on a loft will be conditional on the buyer's lawyer reviewing the status certificate. Ordering it before you list means you can hand it over the same day, and it gives you time to deal with anything unexpected in it, such as an upcoming fee increase or a special assessment.
3. Stage the space, not just the furniture
A loft sells on volume and light. Clear the sightlines to the windows, define each zone of an open plan so buyers can see where the bed, the desk and the dining table go, and let the brick, timber or concrete do the talking. Then book a photographer who knows how to shoot tall rooms.
4. Price it to the market
Ceiling height, exposure, original features, a real bedroom door, outdoor space, parking and the monthly fee all move the number. A loft priced in line with recent sales in the building gets showings in the first week, which is when the strongest offers arrive.
5. Plan the showings
If you live in the loft, keep it show-ready and be flexible on times. If it is tenanted, the tenant must be given at least 24 hours' written notice before each showing, so plan your schedule around that and keep them on side.
6. Compare offers on more than price
Look at the deposit, the closing date and the conditions. A slightly lower offer with a short status certificate condition and firm financing can be the better one.
7. Close
Your lawyer handles the transfer, pays out your mortgage and settles adjustments for property taxes and maintenance fees. You hand over the keys, the fobs and the garage remote on closing day.
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