In an effort to take away some of the hassles you may go through, we have created a checklist of what you need to consider when getting ready to sell your home.
Decide to Sell your Property
You can be prompted to sell for many reasons – from needing to move to a new environment to having to upsize, downsize, get relief from financial woes, or modifying your investment strategy. Some months are hotter for sales than others, but there is no season or time of year that we can call the:”right” time to sell.
Evaluate the current trends and happenings in the broader market and determine the smartest thing to do for your particular situation. For example, if you’re an owner resident you have to make a decision over whether it is smarter to buy a new home before or after you sell your existing home.
Get your Home Ready
Undertake a major clean up and wrap up any maintenance and repair jobs that are unfinished. Ensure your home looks good from inside and out. You may just need to do some cleaning and de-cluttering. However, it is best to ask a property expert before undertaking any major improvements so that you can actually profit from the sale.
Pick the Right Agent
You have to make sure you pick the right real estate agent because this person will handle the marketing, advertising and showing of the property and finalising of the legal requirements of the sale transaction for you.
What normally happens is that the prospective real estate agent will evaluate your property and present a comparative market analysis (CMA). Set up an interview with a few agents who have knowledge of the local area before taking your pick. Don’t let personal relationships make the decision for you – the sale of a house should be strictly business.
When all details have been concluded, you will sign an official agreement with your real estate agent that will contain several terms and conditions such as commissions, duration of the agreement, advertising costs, the estimated sale price, and more. You may opt to consult a lawyer to make sure you fully know the stipulations in the contract.
Choose Which Sale Process to Follow
You have to pick the right sale process for your home, whether auction or private treaty. You can learn about the current market and area trends through your real estate agent.
Work with your agent on drawing up a plan for listing and selling your home. For example, do you prefer a week or weekend open homes or by appointments only? Are leaning heavily towards auction, provide a price range, or invite offers?
Have the Value of your Home Assessed
You can determine the selling price for your property with the help of an expert, who will evaluate its size, age, location and other features. Your real estate agent can point you through similar sales in the neighbourhood and market conditions.
Get the Contract of Sale Ready
The contract of sale will be prepared by your lawyer or conveyancer. This will contain all the relevant information for the prospective buyers, including owner details, title, settlement dates, the terms of the sale and what is inside the property (carpet, furnishings, etc.), along with sewer diagrams and zoning certificate.
Promoting your Property
There are many ways to advertise your property, including online and offline promotion and marketing. The things you need to do include taking pictures of the home, creating floor plans and a video and deciding on a marketing schedule. There is a range of online ads you can use to increase enquiries and spread of word. Offline promotions include print ads, a sales board outside the house, flyers, and postcards dropped into letter boxes.
Listing your Property
Potential buyers will schedule with your real estate agent times to look at your house, or go to open homes at a schedule you have arranged with your agent. An auction campaign usually takes four weeks, while sales campaigns can take longer.
Accept an Offer or Sell at Auction
Your real estate agent will help you negotiate for a price with any buyer until a mutually acceptable price is reached. After the home has been sold through auction or private treaty, your conveyancer will ready the final contract documents and the purchaser will hand in the deposit.
Prior to settlement, the lawyers and banks of both seller and buyer will draw up the details of the transaction to make sure the two parties are in compliance with all legal and financial requirements.
The Day to Settle
If all goes well according to plan, you will hand over the keys and legal rights to your home on settlement day. You, in turn, will receive the balance of payment from the buyer of their bank. You have now officially sold your home.
Your real estate agent, Annette Pinkerton, is the person who enables you to turn the key to where you want to be! Call her today - 0418 447 856