When selling your property it is important that you understand the steps involved. Our knowledge and expertise along with the tips provided below will help you achieve a great result.
To sell or not to sell? Often the decision to sell is based on lifestyle changes such relocating for work, growing family or downsizing. Whatever your circumstances are the timing for your sale may not coincide with strong market conditions therefore researching what is happening in the overall economy can generally reflect the state of the real estate market and can help you assess what is best for your situation. It is important to consider your own personal factors such as, your ability to finance and sustain repayments for a new property, capital gains tax for selling an investment property, and weigh up if you are better off before or after selling your home. If the real estate market is not perfect and achieving lower prices, it is possible you may receive less than you expected for your property, however this generally results in you paying less for the new house you intend on buying. The same goes when prices are high and the market is strong, you should achieve a great price for your house yet possibly pay a higher price for your new property.
Selecting your Agent. The agent provides their professional advise, lists and markets your property for sale, conducts inspections of your home for any potential buyers, negotiates on your behalf and liaises with the conveyancers/solicitors for the legal aspects of your sale. It is important you have a good connection with the agent and feel confident in their ability along with the agency’s resources as this will help contribute towards a successful result. It is a partnership and relies heavily on good communication and feedback.
Price and sale method. Your property will be appraised based on the age, location, size, and features along with the current market trends within the area. Generally, you will have an base figure in mind from researching recent sales or viewing current listings of similar properties on the market however it is important to consider any feedback and advice provided by your agent as they will be able to justify their proposed valuation and best sale method for your property (ie. private sale, auction, price on application, etc.)
Authority. Once you have appointed an agent to sell your property you will be required to sign a sales authority which is a legally binding contract that details any commissions, the estimated sale price, duration of the agreement, advertising costs, sale method plus more.
Vendor’s Statement/Section 32. This is a document prepared by your nominated conveyancer/solicitor and makes up part of the Contract of Sale. It includes details of your property which a prospective buyer will review (details include a copy of the Title, Plan of Subdivision, municipal and water rates notice, any covenants, restrictions, etc.)
Tips on presenting your home for sale
First impressions last! Buyers will be searching through a long list of prospective properties therefore you want your property to stand out above them all. Presentation is important; people will view the photos multiple times, have a drive-by and then decide if they will arrange an inspection. The more desirable, tidy and well maintained your home appears can have a huge impact on the overall sale price.
- Clean the property thoroughly from top to bottom, inside and out.
- Remove any clutter to help open a living area and show the true size of the space.
- Fix and repair any maintenance issues which indicates the home is well looked after and not run down.
- Neutral styling is safe. This doesn’t mean go out and purchase new furniture and decor, simply put away any bold or ‘out there’ pieces that may control a room’s ambience. Remember everyone has different tastes.
- Plants and vases add a homely feel whilst paintings and mirrors help fill blank wall space. You could consider appointing an interior designer to view your property and provide decor tips to ensure your home looks its best when hitting the market. You may want to hire pieces to create a fresh feel and add more visual appeal.
- Don’t forget the garden. Make sure the lawns are mowed and tidy, weeds are pulled, fresh mulch is laid and plants are trimmed. Always clean and tidy up after your pets and try to take them out during inspections.
- Entice the buyers senses by adding fresh flowers in the home, open the windows to allow a nice breeze through, brew some coffee or bake a batch of cookies.
- If it’s cold, light fires, turn on patio heaters and internal heating. Vice versa if it’s hot, turn on fans and cooling systems. Ensure the temperature is comfortable for buyer.