Thinking about Selling?
If you are thinking of selling, we have simplified the steps of selling your home below. Remember, there is always someone to talk you through the jargon and legal requirements. No question is ever a silly one. One Agency Country to Coast are here to facilitate your real estate experience.
Be Organised
After making the decision to sell, spend some time de-cluttering, tidying up the garden and get your property as close to “open home ready” as possible.
Choose an Agent
Rapport is fundamental in choosing an agent. It’s a personal relationship, so go with an agent you like, you can trust and believe has the skills to get the best result for you.
This agent is most likely not the most expensive, nor flashy, but honest and humble. Trust your gut. Pick the agent you trust and with the best commission.
Selling Price
You and your agent will work out a plan for listing, showing, and selling your property.
To set a price, vendors should do their research on local sales. With so many websites offering recent sales prices, your agent’s knowledge of the current market and your expectations, a realistic price can be set.
The best way is to look at comparable properties in and around streets near your home.
Agent Authority
Read the authority agreement being offered by the agent and be prepared to ask questions.
The main points of discussion are around if the agreement is exclusive or not, the length of the agreement, the selling fee, and any other fees, such as marketing costs.
The agreement also stipulates the agent’s estimated selling price.
Vendor’s Statement (Section 32)
Now you must prepare the Vendor’s Statement (section 32) for your property. This document explains to buyers the things they should know before buying the property. They are prepared by a legal practitioner or conveyancer.
Marketing
To ensure you are getting the best result, you must advertise in several areas – the number one is through the internet. You need the best photos and great presentation.
When showing your property, it should be presented at it’s best. Talk to your agent about presentation and recommendations about how to showcase your home.
Sell
When it comes to selling and negotiating price, vendors should trust their agent. A great agent will negotiate for the best price for you, the Vendor.
Under contract
At auction, if the reserve price is met, the highest bidder is the purchaser of the property, unconditionally. Some other agents like to auction a property as it puts you, the Vendor under pressure. Make sure you take your time with any negotiations regarding your selling price. A good agent will never have to pressure a Vendor.
With a private sale, the purchaser has a three-day cooling off period. There may also be conditions in which the property has been purchased, the most common; finance clause, or the purchaser wishing to conduct a building and/or pest inspection.
The agent will prepare a contract of sale and you can have your solicitor or conveyancer look over this.
Settlement
“Settlement” is the final stage of the sale when the purchaser completes the payment of the contract price to the vendor and takes legal possession of the property.