Step 4) Listing your property for sale
In order to list your property for sale, legal documentation will come into play.
The most important is the listing agreement, which is the contract between you and my brokerage firm, RE/MAX associates.
The second major form will be the MLS Data Input form for entering information about your property onto the Multiple Listing Service (Realtor.ca).
MLS Data Input Form
The MLS Data Input form is used to accurately describes your property (including lot size, building size, style and materials, floor areas, heating/cooling systems, room sizes, and description).
- Details what is, and what is not, included in the sale (as a general rule, fixtures are included; chattels (things that are movable, are not), list what stays and what goes under inclusions and exclusions.
- Provides information about annual property taxes, and notes any easements, right of way, or encroachments against the property.
The Fintrac Forms are identification forms that are required by federal law to be completed by every seller and buyer in a real estate transaction.
Fintrac stands for Financial Transaction and Report Analysis Centre of Canada.
It is an independent agency reporting to the Minister of Finance and Fintrac's mandate is to facilitate the detection, prevention, and deterrence of money laundering and terrorist activity financing while ensuring the protection of personal information.
Receipt of Funds Form
This form is required by the Proceeds of Crime (Money Laundering) and Terrorist Financing Act for every amount of funds received in the course of a single real estate transaction.
In addition to those two forms, there are other forms so that your preferences about showings, offer dates, and the like are spelled out in writing.
These documents are binding for both of us, so we'll go over them carefully before you sign anything. And of course, you will receive copies of all signed documents for your records.