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Selling

The Selling Process

Selling Your Home

Selling your home is one of the biggest financial decisions you will make and without the help of the right people it can be quite stressful. Our team will make the process as stress free as possible – offering you the best expert advice and helping guide you through to a successful sale.

Below you will find a helpful guide through all the stages of selling.

To find out why you should sell with us click here.

 

Thinking of Selling

 

So, you’re thinking of selling your home – get a free market appraisal! This will let you know the current market value of your home. You will get given a CMA (Comparable Market Analysis) which includes information such as; your property information, recent sales in your area, and properties in your area currently for sale. This will help determine what the current market value of your home will be.  

 

Will you sell before you buy?

If you sell before you buy you will be able to free up your equity. You will know exactly how much money you can spend on your new property. You will also be a cash buyer meaning you have a competitive advantage when making an offer.

Will you buy before you sell?

If you find your new home first you can look at adding a house of sale clause to the sale and purchase agreement or look at bridging finance.

 

Decide on the best way to sell your home.

These are the main methods of sale

  • Auction
  • Priced
  • Priced by negotiation

Each method has different pros and cons and we will advise on the best method for your property in your CMA.

 

Preparing to Sell

 

Think carefully about doing any major renovations work before selling – as you may not get your money back. We recommend these four cost effective ways of preparing your home for sale: Declutter, Deep Clean, Touch Ups and Street Appeal.

 

Declutter:

Declutter and put in storage any excess furniture and belongings that aren’t needed. This will make your home feel more spacious and appealing. Don’t forget storage and cupboards as buyers often check these too. Depersonalize. You want the buyer to be able to picture themselves living in the property. If your furniture is dated or tired why not look at some professional staging.

 

Deep Clean:

Get rid of cobwebs and clean all surfaces, this will also make it less work when you move out and is easier to keep clean before each open home. This will let buyers know that the home is well looked after.

 

Touch Ups:

Buyers notice when there are small things that need fixing and it can put them off by thinking there may be bigger problems. Small touch ups include fixing broken latches, dripping taps and any holes in the wall or even giving tired paint a fresh new coat.

 

Street Appeal:

First impressions count! Somethings to consider are;

  • making sure your letterbox looks tidy and not missing numbers,
  • your lawns and gardens are kept tidy,
  • trees are trimmed,
  • the fences aren’t broken
  • Guttering is clear

And a fresh lick of paint or a good waterblast can do wonders to make your property stand out.

 

Selling your Property

 

Choosing the right agent/s are so important. There are several things you should consider; how well you get along, do they work for the right agency, their reputation, their accolades, and what they can do for you to make your property stand out. We think we’re the best and we would love to be work for you. Check out more about selling with Sol here.

 

Agency Agreement Guides

An agency agreement guide is a legal document between the vendor and the agent/agency. It gives the agent the legal right to sell your home and it sets out the terms and conditions for doing that. It sets a written estimate of the sale price, the length of the contract (usually 90 days), sale method, chattels details, and marketing expenses and the agent fee (commission).

Legal Obligations.

You and your agent are legally obliged to share all relevant information of your property to buyers. This could include;

  • Weathertightness,
  • Boundary Issues
  • Unconsented alterations
  • Impact of proposed developments
  • Methamphetamine contamination
  • Natural hazard damage.

(If you knowingly fail to disclose any relevant information you may be in breach of your agreement with your buyer. This could cause a contract to fall or in some circumstances court action)

Marketing

It is important to invest in marketing your property as it will attract my buyers, leading to an offer or multiple offers. Professional photos really are key, as it will make your home shine in its best light – and you use these photos in all the other advertising. Some marketing will be provided free by the company/agent and some advertising you will have to pay for. Talk to us about what advertising options would work best for marketing your property.

 

Sale and Purchase Agreements

 

This process differs depending on the method of sale and are always in writing. It is important that you read and understand the agreement that you are signing – one of our agents can help explain it to you or you can get it checked over by your solicitor. Things included in a sale and purchase agreement are:

  • The legal vendors name/s (as set out on the title)
  • The title and property details,
  • The price, deposit and settlement details,
  • A list of chattels,
  • The contract conditions and days.

When you are presented with an offer you can: Accept, Reject or Negotiate.

One of our agents will carefully explain to you the offer you are being presented with all conditions carefully explained. You can accept all the terms and conditions the contract, it will be signed and dated and then it is a legal binding contract. You can reject the offer completely or you can negotiate the price and conditions to make the offer more acceptable. Our team has strong negotiation skills and will work hard to get you the fairest deal possible.

Once an offer is accepted and is signed and dated then the contract is sent the solicitors and the purchases will work towards satisfying the conditions. Once all conditions are satisfied the contract will go unconditional – and the SOLD sticker goes up!

The deposit gets paid to the real estate companies trust where the agreed commission is taken out and the rest held for 10days and then released to your solicitor.

 

Settlement and moving day

 

Pre-settlement inspection

One week or a few days prior to settlement a pre-settlement inspection is completed with the purchasers and their agent. This is just to check the property and chattels are in the same condition as they were when the contract was signed.

 

Finance

Make sure all charges on the property are fully paid – rates, electricity and gas, and that there is no money owing on any chattels. If the property is rented and the tenant is staying on under the new owner, you must notify the tenant and arrange to have the bond transferred. You are responsible for insurance until settlement day in which the new purchaser’s insurance will take over.  

 

Once you solicitor has received the final payment from the purchaser’s solicitor they will announce that settlement can take place and the new purchasers can collect the keys from yours or their agent’s office.