The preparation you put into getting your property ready for sale can be the difference between getting a standard price and a great price. The best part is, it's not hard, time consuming or expensive. Whatever your motive for selling, the process can either be stress free or tense and disappointing. The good news is that you have the ability to choose. There are four factors that will influence the outcome of any sale.
Selling a property is a complex procedure. Whether it is your first time, or you are an experienced seller, it is very easy to forget things and to feel overwhelmed. While you should always feel comfortable asking questions, the following 'event roadmap' might help keep you on track.
STEP 1 - PRIOR TO LISTING
Select an agent
Sign a listing agreement with your agent
Arrange a contract of sale through a conveyancer/solicitor
STEP 2 - ON THE MARKET
STEP 2 - ON THE MARKET
Agent receives a copy of your sale contract from conveyancer/ solicitor
Agent prepares marketing campaign and advertising materials
Prepare your house for buyer inspections
Agent conducts buyer inspections
Agent negotiates a sale price to your satisfaction
STEP 3 - ACCEPTING THE OFFER
Offer is accepted
Agent accepts a deposit
Contracts are exchanged
Property is SOLD
STEP 4 - SETTLEMENT
STEP 4 - SETTLEMENT
Settlement period begins
Buyers for a property can be found all year round however it's not often that a purchaser for your home is out there, just waiting for you to put your home on the market. Timing, presentation and advertising are all required to bring buyers and sellers together for the best result. Spring is often considered to be the best time to sell. It's a time of optimism and with the weather clearing, more potential buyers will be out and about. It is also a time when more sellers will put their homes on the market so there will be more competition. Winter usually presents fewer buyers, but the buyers are usually more focussed on purchasing and traditionally there will be fewer homes on the market to choose from. Prior to placing your home on the market, allow an additional two weeks to prepare both the property and the marketing material.
A tidy home says "Welcome". Your home should be kept neat and tidy during the period of inspections. It should not necessarily be a "show place" but appear a comfortable home in which to live. Fresh flowers or indoor plants always brighten up a home. While you’re cleaning, think about each room and what furniture really needs to be in it. Rooms look smaller when they are crowded. Clear out anything that's not needed to create a feeling of spaciousness. Make sure that all minor repairs are completed. Sticking doors and windows, loose door knobs, faulty plumbing, peeling paint or faulty flywire may affect your sale. Let plenty of light into your home. Nothing improves atmosphere more than brightness. And on a dull day switch on some lights prior to arrival of prospective purchasers. A warm comfortable heated home on cold days adds a feeling of cosiness; on a hot day don't forget to turn on the air conditioner or fan (or simply let the breeze flow through). Avoid having too many people present during inspections. Be courteous but don't force conversation with a potential buyer. The prospective purchaser wants to inspect your home - not pay a social call. As a general rule it is advisable to turn off radio and television sets during inspections as they can be very distracting. Keep your pets out of the way (preferably out of the house). Let the buyer and agent talk, free of disturbances. Don't apologise for the appearance or condition of your home (this does nothing but emphasise the faults). Don't discuss the details of the transaction or allow a prospective purchaser to inspect your home without your agent.
If you submit your property for Auction this means that prospective purchasers will bid against one another at a date and time suitable to you. You can set a reserve price, which is the minimum you will accept, and once bidding has passed that level you know you have a sale, as it will be unconditional and a predetermined deposit must be paid on the day. Sale by Private Treaty means that you set a price at which your property is to be marketed to the public through the marketing plan agreed to by you and the agent.