Once homeowners have made a decision to sell their home, they generally want the selling process to happen reasonably quickly with no significant issues and importantly they want to achieve a selling price that matches their expectation. It sounds easy but before going to the next stage you need to consider the following:
Contact an experienced local agent who knows your suburb to appraise your property and give you a realistic marketing price.
You must feel comfortable with the Agent you select. You need to assess their knowledge of the market, their experience and have confidence in their ability to successfully and professionally manage the marketing of your home.
In the process of setting a marketing price Agents should present full particulars of all similar properties that have sold in your suburb in the last 3-6 months and a current, detailed analysis of the market.
Presentation of your property is extremely important its presentation could mean the difference of thousands of dollars in the offer you receive.
Do a critical analysis of your property inside and out and make a list of the things you can do to enhance its presentation. You don’t need to spend thousands of dollars on a new kitchen or bathrooms because if you are selling in the short term generally you won’t get your money back. But a coat of paint can add extra value at minimal cost.
Be brutal, it’s an ideal time to get rid of clutter. Why not have a garage sale? Mulch the garden and do those repair jobs you may have been putting off.
Consider each room and what furniture really needs to be in there. Rooms look smaller when they are crowded. Clear out nonessential items to create a feeling of spaciousness.
When the first prospective buyer walks into your home it should present as bright, sparkling and welcoming.
Buyers Would Rather See How Great Your Home Really Looks,
Than To Hear How Great It Could Look
“With A Little Work”
All improvements/extensions to the property should be approved by your local council. A phone call to the Council Planning Department will confirm if any structures are not endorsed on the plans. Irrespective of whether improvements were carried out during your ownership or before it is best to go through the process with the council to have unauthorised structures acknowledged.
The most effective way to market your home is the internet (surprise! surprise!). Statistics reveal 80% of prospective buyers search the internet and short list properties to view.
Therefore it is essential that quality professional photographs are taken of your property. They will also become a key element of your marketing program.
There is an expectation from home buyers that your home will be open for inspection this has become custom and practise over many years. Saturday or Sunday afternoons are generally most popular with a home open lasting 45 minutes to an hour.
After the Home Open your Agent should give you feedback regarding what viewers thought of your home. Whether this feedback is negative or positive – you need to know.
All offers from buyers will be in writing. Your Agent will formally present all offers to you in person. The offer (contract) will include the following: price, whether subject to cash or finance or the sale of another property.
There may also be conditions attached to the offer such as a timber pest inspection, building inspection etc.
Once the offer is formally presented a seller has three options (a) reject the offer (b) accept the offer or (c) cross out the price on the offer and enter a higher price, known as the counter offer. A counter offer effectively creates a new offer. Whatever the decision, your Agent must communicate the outcome back to the buyer. If a counter offer was made, then with assistance of your Agent further negotiation will take place to try and agree on a selling price. If no agreement is reached the offer can be either withdrawn by the buyer or rejected by the seller. All alterations on the offer need to be initialled by all parties.
If finance approval is required then this process can take 21-28 days. Once finance is approved the settlement process will generally take a further 21 days.
Prior to settlement the buyers are entitled to inspect the property to ensure that it is in the same condition as when they last inspected it and that all electrical, gas and plumbing items are in good working order.