Selling a property is not a cakewalk as it needs proper planning and impeccable execution. Whether you are going to be selling for the first time or you have been in the market before, there are few critical factors you need to consider before listing your house for sale.
HERE ARE SOME TIPS TO ENSURE A SMOOTH SALE
Get Prepared
Address any home maintenance and have a clear-out to boost your odds of selling.
Research the local real estate market to get an idea of the ongoing sale price you might want to obtain or better still get an appraisal form your local real estate agent.
Vetting And Engaging The Right Real Estate Agent
To choose a real estate agent, ask friends and family for references or attend open homes to get a first-hand outlook of their sales approach.
Here are few practical tips for picking a qualified real estate agent:
- Look at their track record
- Check their qualifications
- Ask for a marketing/sales plan
- Get a feel of their knowledge of the local market
- Ask about their fee structure
Pick A Sales Method And Set A Price
There are three primary ways to sell a house in Australia:
- Private Treaty
- Expression Of Interest (EOI)
- Auction
Deciding which strategy is best depends on your requirements as a vendor, location, market, how quickly you want your property to sell and a multitude of other factors you will need to analyse with the guidance of your real estate agent.
Validate The Agency Agreement
It is the contract between you and your real estate representative. It includes their fees, whether they have exclusive rights to sell your property, any extra costs such as administration and marketing fees.
Discharging Your Home Loan
If you have a loan on the property, you have to provide your lender completed discharged of the loan. The process can take a month or more. Hence it is vital to consult with your lender and make arrangements shortly after exchanging the contract of sale.
There are also specific costs involved in discharging a loan, so you may discuss with your lender before you put up the house for sale.
Settlement
Once the contract of sale is exchanged, settlement typically takes six weeks. Your solicitor or conveyancer oversees the process. When you get the total sale price – deduct the amount owing on your loan (paid to your lender), the deposit, real estate agent and solicitor’s fees.
Once the settlement is done, the sale of your property is concluded, and you will need to move out immediately.
Before Going To The Market
Rick Nieuwenhoven, Chief Executive Officer at the Nieuvision Group & Professionals Modbury, says property owners must weigh up several factors to achieve the desired value.
You can submit your inquiry online or call us at (08) 8263-4009.
