Gearing Up to Sell
There’s a process that one goes through when thinking of selling and this can be both mental and physical. Breaking with the old and moving into the unknown can be very stressful, and then there’s the question of what to keep, and how to present your property. You can relieve a lot of that mental anguish by choosing an agent you trust, that you can rely on, and that you feel comfortable with.
Our first tip is to talk to locals, establish who is active and successful in the area.
Look at recent sales results.
Is there an agent consistently getting higher prices for comparable properties than their competitors?
Do they communicate well?
Are they marketing their agency, or your property?
How and where will they market your property?
Enlist the Services of A Conveyancer
Once you’re confident that you’ve selected the right agent for your needs, you must instruct a solicitor or conveyancer to prepare a contract for sale. You don’t have to use anyone in particular, but it always makes sense to confirm that the practice specialises in conveyancing.
Present your Property for Sale
Stylist or no stylist? A good agent will guide you to decide.
Whether you live at the home or have moved out, investing in a professional stylist is almost always the way to go to ensure you achieve the highest sales price.
If the home to be sold is in need of work, styling can look like an attempt to hide flaws or faults and this can sometimes work against you. Rather than throw good money down the drain, consult with your agent, the paid professional and seek their recommendations and advice.
Preparation of Marketing, Photography and Floor Plan
One-off promotion generally includes prominent/highlighted internet listings, a signboard, prestige brochures (with floorplan and detailed property information), window display and letterbox marketing to local properties.
On The Market – Inspections
Your agent will discuss with you the best time to show your property – that would be a combination of the time of day when your property presents itself best, as well as the time of day most prospective buyers are out and about inspecting available properties. To get the best sales result, your home needs as many eyes on it and people through it, as possible. This means the temporary inconvenience of a Saturday morning open for inspection as well as a mid-week open and possible other inspections, strictly by appointment.
If you are selling by Auction, rather than Private Treaty, the day of the auction is generally around 24 days after the first advertisement appeared on the internet. Your agent should provide you with a detailed brief of what it to be expected on the day and will introduce you to the auctioneer.
The time to settle will have been agreed in the contract. It’s usually six weeks, though longer and shorter settlements are not uncommon. This time can then only be changed by mutual agreement of both parties. The Purchaser’s solicitor (or conveyancer) obtains all necessary searches whilst the Vendor’s solicitor (or conveyancer) arranges for any mortgage to be discharged.
Services such as electricity, gas, phone and mail redirection need to be organised before settlement. At settlement, the Vendor is paid out the balance of the purchase monies after deduction of any loan and adjustment for rates, etc. The agent is paid the commission and costs, often from the deposit they are holding on behalf of the parties.
The property must be vacated by the time of settlement and all keys handed over. It is normal for the purchaser to carry out a final (pre-settlement) inspection prior to settlement.