Our selling guide helps you navigate the selling process, on preparing to sell, advertising to generate the most interest, and presenting your property for buyers.
Selling a home isn’t quite as simple as sticking up a ‘for sale’ sign and waiting for the buyers to come to you. If you sell it, they may not come.
Lifestyle changes are often the reason behind our decision to sell.
Your decision to sell your property may not coincide with the perfect market conditions. Therefore it is important to know what is happening in the broader market and what is best for your particular situation. Also decide if you are better off buying a new home before or after you sell your current home. Additionally, you should consider your own personal objectives, your ability to finance a new property and meet ongoing repayments and capital gains tax implications for selling an investment property.
Choosing an agent is one of the most important steps towards a successful sale. Your agent will be in charge of advertising, showing and negotiating sales and taking care of the legal aspects.
There are lots of things to consider when choosing a real estate agent to sell your property:
Property appraisal is an estimate of a property’s value. Property value is based on such factors as location, amenities, structural condition and recent sales of similar local properties.
Your agent appraiser conducts the process. The appraiser will do a walk-through of the property, noting anything that can alter the home’s value. For example, if the house has a swimming pool, but swimming pools aren’t popular in the area, it might not add much value to the property—the pool might even detract from it.
There are three main ways that real estate can be bought and sold, auction, private treaty and sale by tender.
The real estate agent will recommend a method of sale based on the type and location of the property, nature of the market and the seller’s time frame and personal preference. Before deciding on the method of sale, the seller should understand each process and the costs involved. If there is anything you do not understand, ask for clarification or seek legal advice.
You’ll sign an agreement with your agent. This legally binding contract will detail any commissions, the estimated sale price, duration of the agreement, advertising costs, process and in some states a contract for sale should be prepared at this point.
This generally involves photographing your property, drawing up floor plans and writing your online ads. Prospective buyers will contact your agent and arrange times to view your property, or attend your open homes.
Your agent will auction your property or mediate between you and buyers to reach a mutually acceptable price. The buyer will then pay a deposit.
Both seller and buyer’s lawyers and banks will work out the details of the sale to ensure both parties meet all legal and financial requirements.
All going to plan, you’ll relinquish the keys and legal rights to your property in exchange for the balance of payment from the buyer or their bank.