Getting Your Home Ready to Sell: A Coquitlam Seller's Checklist

The work you do before your home goes on the market shapes how buyers see it, how quickly it sells and, often, what it sells for. Here is the checklist I go through with sellers in Coquitlam and across the Tri-Cities, from paperwork and repairs to pricing, costs and the tax rules worth knowing in BC.

The short version

1. Gather your paperwork

• Your mortgage. Ask your lender for a payout statement and an estimate of any prepayment penalty. For a fixed-rate mortgage, the penalty is often the greater of three months' interest or the interest rate differential, and it can be significant.
• Your home's history. Receipts and warranties for upgrades like a roof, furnace, hot water tank or windows, plus any building permits for renovations. Buyers like to see them, and they help support your price.
• Strata documents. If you are selling a condo or townhouse, buyers will ask for the Form B, minutes, financial statements, depreciation report and bylaws. The strata has 7 days to provide a Form B, so request the documents early.
• Utility costs. A year of hydro and gas bills answers a question buyers often ask.

2. Understand your disclosure obligations

Many BC sellers complete a Property Disclosure Statement, a form that answers common questions about a home's condition and history. It is not required by law, and BCREA recently updated the form and introduced a Property No-Disclosure Statement for sellers who choose not to complete one. Either way, you are expected to disclose known latent defects, meaning hidden problems a buyer could not spot on a reasonable inspection that make the home dangerous or unfit to live in, and anything you do tell buyers must be accurate. If you are unsure about something, we will talk it through, and a lawyer can advise you where needed.

3. Fix, repair and refresh

Buyers notice the small things, and so will their inspector. Before you list:

• Handle the easy repairs. Dripping taps, burnt-out bulbs, sticky doors, worn caulking and scuffed paint.
• Consider a pre-listing inspection. A licensed home inspector can flag issues now, so you can fix them or price them in rather than negotiate them later.
• Think twice about big renovations. Fresh neutral paint and good lighting often do more for your price than a rushed renovation. Talk to me before you start a major project.
• Look after the first impression. Tidy the garden, clean the entry, and make sure the front door, outdoor lights and house numbers look their best. For a condo, the entry and balcony count.

4. Declutter, clean and stage

Your listing photos are the first showing, so the home should be ready before the photographer arrives.

• Declutter. Clear the counters, thin out closets and put away personal items, so buyers can picture their own things in the space.
• Deep clean. Windows, floors, grout, appliances and baseboards. A clean home reads as a well-cared-for home.
• Make room for light. Remove extra furniture, open the blinds and give every room a clear purpose.
• Plan for showings. Decide where pets will go during showings and keep the home show-ready while it is on the market.

5. Price it with evidence

The right price comes from what buyers are paying now, not from your BC Assessment or an online estimate. I explain the difference in BC Assessment vs market value. To price your home, I build a comparative market analysis from recent sales of similar homes nearby, the active listings buyers will compare yours with, and the listings that did not sell. A home priced in line with that evidence tends to draw the most interest in its first weeks on the market. You can request a free home evaluation, or check recent market activity in my market snapshot.

6. Know your costs

Property transfer tax is paid by the buyer, not the seller.

7. Check the tax rules

• Principal residence. If the home was your principal residence for every year you owned it, the gain is usually tax-free, but you still have to report the sale on your tax return, on Schedule 3 and Form T2091(IND). Missing it can mean a penalty of up to $8,000.
• The federal property flipping rule. If you sell a home you have owned for less than 365 days, the profit is generally taxed as business income, with no principal residence exemption, unless an exception applies, such as a separation, a death in the family, a work relocation or a serious illness.
• BC's home flipping tax. Since January 1, 2025, BC taxes profits on homes owned for less than 730 days: 20% if sold within the first year, falling to zero at two years. There are exemptions for life events, plus a deduction of up to $20,000 for a principal residence in some cases. In most cases you must file a return within 90 days of the sale, even if no tax is owed.

Tax rules have details that matter, so talk to your accountant before you list if any of these could apply to you.

Questions sellers often ask me

Do I have to fill out a Property Disclosure Statement in BC?

No. It is not required by law, and some sellers choose not to complete one. Either way, you must disclose known latent defects that make the home dangerous or unfit to live in, and anything you tell buyers must be accurate.

Who pays the property transfer tax, the buyer or the seller?

The buyer pays it when the purchase is registered.

Do I have to report the sale of my home if it was my principal residence?

Yes. Even when the gain is fully covered by the principal residence exemption, you need to report the sale on your tax return, on Schedule 3 and Form T2091(IND).

Does BC's home flipping tax apply if I have owned my home for more than two years?

No. It applies only to residential property sold within 730 days of buying it.

Should I renovate before I sell?

Usually not in a big way. Small repairs, fresh paint, a deep clean and good staging tend to give the best return. If you are considering a larger project, ask for a market evaluation first so you can weigh the cost against the likely price.

If you are buying your next home at the same time, get pre-approved early so you can plan both moves with confidence. You can also read more about how I help sellers.

This article is general information, not legal or tax advice. For the official rules, see the Province of BC's page on the BC home flipping tax.