Tips when Selling your Property

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Selling your home can be a stressful and complex matter. There are always too many things to remember to do.

Below is a list of handy tips to help you through this busy time.

Ask yourself:

  • Am I a motivated Vendor? Am I genuinely committed to selling or am I simply testing the market?
  • Keep your sale price expectations realistic and be guided by the expert
  • Remember it is a very expensive way of finding out the value of your property by putting it on the market;
  • Prepare a budget, selling your property is a commercial decision. With all commercial decisions there is a cost;
  • Do not cut corners or take short cuts. You want the sale and conveyancing of the property to be as smoothanded and hassle-free as possible; and
  • If there are specific exclusions please tell us about them immediately.


Think Like a Purchaser
 

  • On sale of a property, a bit of lateral thinking goes a long way: think like a purchaser;
  • What can you do to help the property sell faster at a higher price? This may include:
    • Obtain a Pre-Vendor (Housesafe) Inspection. The purpose of this inspection is to ensure the property can become a viable sale;
    • Obtain a current survey report and building certificate; and
  • When Choosing an Agent:
    • Don't necessarily run with the agent that gives the highest market appraisal, or offers the cheapest commission;
    • Key qualities of a real estate agent should include:
      • Service - Honesty - Keen for referral
      • Trust - Dedication - Professionalism
  • Remember that in the final analysis, you get what you pay for. Thoroughly check the agent’s advertising arrangements and carefully check the Agreement the agent asks you to sign. (Make sure it is specific for your situation).

Preparing your property for sale

  • Keep the property in good, clean condition;
  • Clear out the clutter, the less furniture you have in the property the more roomier the house looks.
  • Consider the immediate impact of the property having a neat and tidy appearance, inside and out;
  • Let in the natural light;
  • During inspections arranging flowers, brewed coffee or freshly baked goodies add to the impact;
  • Soft music helps dampen external noise;
  • Purchasers are usually more relaxed if the vendor is not present during the inspection; and
  • If you require the cooling off period to be waived, please consult us.

During the sale

  • Once you have engaged an Agent make sure they have a full set of keys and the rest of your keys are handed over on settlement day including window locks etc; and
  • Remember to keep paying your insurances, rates, levies, and most importantly your mortgage. You could be in default if you stop paying the mortgage during the sale process.

Relationships

  • Try and stay on good terms with all of the people involved in your sale; and
  • Be flexible and maintain a sense of humour.

Release of deposit

  • If you are buying another property and your purchaser does not agree to releasing the deposit to you, ask us about the availability of a deposit guarantee bond.

Close to settlement

  • Remember to leave behind all of the inclusions provided in the contract;
  • Contact the relevant authorities to read meters such as electricity, gas and water;
  • Contact Optus or Telstra regarding your telephone service and possible redirection of your phone number;
  • Contact your local post office to arrange a re-direction of your mail.
  • Arrange for your building and contents insurance to be transferred to your new address;
  • We attend the settlement for you on the appointed day.

Packing

  • Plan your furniture removal early - don’t leave this decision to the end!
  • Label boxes to allow easy unpacking at your new address.

Vacant Possession

  • Vacant possession means that on settlement you must remove all of your items excluding fixtures from the property, and leave the property in a clean and tidy condition - as you would expect to find it;
  • As a vendor you must be able to hand over possession of the property from the moment settlement has taken place - not the evening or the day after;
  • You have to book your removalist for the proposed settlement date and be prepared to move on that day (not that evening or day after);
  • Remove all rubbish and other items which are not included in the Contract (this ensures that settlement will not be delayed due to queries raised by the purchaser);
  • The purchasers are entitled to a final inspection and this usually happens on the day of settlement or sometimes the day before.

For further information and professional assistance, please call Martin Bullock Lawyers on 9687 9322.