After nearly 20 years as a licensed real Estate Agent, Mark has some handy Selling Tipsto share with you:
Stages of Selling your house
Deciding to sell - consider what is happening in the broader market and what is best for your situation.
Choosing an agent - Your agent will oversee advertising, showing and completing the legal requirements of selling your property, so choose carefully. Prospective agents will usually appraise your property.
Next you’ll decide how you want to sell - You and your agent will work out a plan for listing and selling your property – whether you want to have weekend open homes or by appointment only, whether you will go to auction or ask for offers.
Determining your selling price and property inclusions comes next - You may have your property appraised by an agent, who will advise you on the current market and area trends .Setting the correct price at the outset is crucial to the end sale price and number of days on the market.
Buyer interest is typically at its strongest in the first few weeks on the market - the longer your home is on the market, urgency from buyers decreases and generally results in a lower sale price.
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, the process in case the property is passed in at auction and much more. You may wish to seek independent legal advice to ensure you understand the terms and conditions of the agreement.
Prepare the contract of sale and Section 32 for your property - These will include all the details prospective purchasers will need including details of the owners, title, all conditions of the sale and what is included in it (for example carpet, furnishings), as well as zoning certificate and sewer diagrams. Your solicitor or conveyancer will prepare this for you.
Advertising your property - This could involve photographing your property, drawing up floor plans and agreeing your marketing schedule. You can choose from a range of online ads to help drive more enquiries and a higher sale price.
Going on the market - Prospective buyers will contact your agent and arrange times to view your property, or attend the open homes at the times you have agreed with your agent.
Sale and negotiation - Your agent will mediate between you and the buyer to reach a mutually acceptable price. Once you have accepted an offer or sold at auction, your conveyancer will begin preparing the final contract documents and the buyer will pay a deposit.
Under contract - Before settlement, 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.
Settlement day - 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 through the solicitors. You will have then sold your home.
Property Sales checklist
A Shining Home Attracts Buyers - Presentation is paramount. When preparing your property for sale, presentation is the key to attracting buyers.
The First Impression - A well-presented home stands out from the crowd, encourages more inspections and ensures a higher sale price.
Appearance is No 1 - Create street appeal with weed free gardens, trimmed shrubs, edges and lawns cut. Mulch garden beds and a high pressure wash can freshen up the outside, roof and driveways.
Property Checkup - Go for a walk around the block and look at other properties for sale and then come back to your place and say “How does our property compare?” You need potential buyers to be impressed from the street view.
Spring Clean - Thoroughly clean and de-clutter. Less is more! Remove the sort of things that hinder you from moving freely about and through the place. The purchase of some key items (such as new towels for the bathroom) and keep them just for inspection day. Fresh flowers are always a winner.
Personal Items - Pack away personal items and family heirlooms. You want buyers to say “I can see myself living here!” Make it easy for them to see themselves living there too!
Does The Sun Shine In - Make sure there is as much natural light as possible coming into the home. Ensure your windows are clean. Open all the curtains and blinds. Natural light creates another dimension and buyers love it.
Weather Conditions - Have your home comfortable for inspections regardless of the season. When it’s a cold day, put the heater on. If it’s hot, open windows and doors to capture fresh air and cool breezes.
Repairs - Leaking taps, squeaky doors, loose door knobs, broken windows, roll a door – fix them all! A splash of paint will freshen scuffs and scrapes on walls and woodwork. Ensure buyers can find no faults. Why let small things jeopardize a potential sale?
Pets - Pets should be removed when inspections occur. Remove pet food, clean and freshen up their area eliminating odours. Clean up dog litter!
What You Should Do On Inspection Day - Organise to go out. Purchasers prefer to wander through a home without the feeling of being watched over by owners. You want them to feel comfortable and spend as much time as required in your home exploring its many features.
Offers - A common mistake for owners is to turn down the first offer. In selling, there is a saying that ‘the first offer is often the best offer’. You will get most inspections in the first couple of weeks. Try and negotiate with the first buyer, you never know how long it will be until the next buyer arrives.
Negotiation - Negotiating the selling price is a tricky process. Vendors and Purchasers who think they can deliver a price ultimatum rarely achieve their wishful thinking. Don't burn your bridges, always leave the door open for negotiation on a sale.
Contact with this special form to have a personal appraisal of your property for selling.