Thinking of selling your property? This time can bring about many emotions from excited, to scared, to nervous and everything in between. The thought of selling your property can be daunting as it comes with numerous decisions and can be complicated to understand in the beginning.
OC'S CHECKLIST ON HOW TO BE PREPARED AT SALE TIME
Here at OC, we understand this stressful process and have come up with a 10 point checklist on what you need to know when selling your property.
1. DECIDING TO SELL
Coming to the decision to sell can vary depending on various factors.
Whether you are looking to downsize or upsize, relocate areas, build your dream home or contemplating investment options, OC can help. With expert knowledge, our agents and staff are well equipped to guide you through the selling process that suits you and your properties individual needs.
HAVE YOUR PROPERTY 'SELLING' READY
Whether its major repairs or a slight clean up, have a look around your property and make sure that all maintenance is complete.
Having a fully prepared property that is buyer ready makes the selling process less stressful. If you are considering renovations, speak to your agent or a property specialist to make sure these changes will increase value and reward.
2. SOURCE A RELIABLE AGENT
Choosing an agent that understands your vision and has a wealth of knowledge in the field is crucial to the success of your sale.
The agent is the face of your property, facilitating advertising, marketing, presentation, and legal paperwork that is key to achieve the results you want.
Here at OC we make sure that every step of this process is precise, from the initial consult to settlement day – our agents and employees are here to support.
Want to know the value of your home? We can help.
3. THE BEST APPROACH TO SELL
Every home and situation are different; consequently, the selling process will vary accordingly.
Your agent will be able to guide you through deciding whether to sell at auction or private treaty in accordance to your area, style of home or current market trends.
Other details such as open home or appointment only, weekday or weekend viewing and price guides will also be a personalised conversation between you and your agent.
4. GATHER YOUR FACTS & FIGURES
Research the current price guides within your area and current trends that are occurring to help decide the desired selling price.
You may also have your property valued by an expert who will be able to assess variables such as location, size, building age and features, in conjunction with the agent to suggest a suitable price. Collecting your facts and figures will help you make a price decision that you are comfortable with.
5. LEGAL DOCUMENTS
Now it's time to fill in the Sales Agency Agreement, which is the contract between you as the seller and your chosen agent, which gives them the authority to represent your property in the marketing and sale of the home.
There is then a document called a Form 1 which will need to be completed, which is a number of questions to do with the property so the necessary searches can be ordered. This document deals with details like if there is lease agreement in place, if something has been built on the property without council approval, if there is something built over an easement, or if there are any orders against the property for example a fire safety or enforcement notice/order.
Finally, a marketing schedule is then filled out as the agreed marketing strategy for the property and payment structure is arranged. After this, your property is ready to hit the market!
6. PERSONALISED MARKETING
Each property is different, with different features, therefore marketing campaigns are tailored to suit the situation.
Marketing can include online or offline, press advertising, photography and drawing up floor plans in accordance to the marketing schedule.
Depending on your situation and strategy, you might want a sales board and brochures or flyers and print advertising. Your agent will be able to help you through this process and decide what is in the best interest of your property.
Learn more about OC's off market sales platform, OC First, here.
7. MARKET TIME FRAMES
Depending on the type of sales campaign, your time on the market will vary.
Speak with your agent about offers close, private treaty and auction campaigns to see which time frame suits your personal wants and what will be best for the success of your sale.
8. ARE YOU BUYING ANOTHER PROPERTY FIRST?
If you're planning on buying another property before selling your current one, it is worth investigate a few other finance options.
Bridging loans are a popular choice, which can help you cover the costs of buying a new property before the sale of your previous one goes through.
Be sure to contact our friends at Fresh Home Loans for a chat about what finance option can work best for you!
9. SIGN, SEALED, DELIVERED
Once an offer has been accepted or alternatively sold at auction, the property will begin the final stages of selling.
This is the stage where you and those purchasing your home will sign a final contract and your conveyancer will begin preparing documents for settlement. Be sure that you are across all the content and finer details of the sale before signing anything, as this is a legally binding document and is important for you to understand all the requirements outlined.
10. I'M (NO LONGER) YOURS
The day has arrived, and your property is about to become settled and handed over to the new owners.
On settlement day, you will need to say goodbye to your property and your conveyancer will finalise the handover of legal rights between parties in exchange for the balance of payment from the purchaser.
This is the final step in the process and your home has officially been sold, congratulations!
MAKE IT HAPPEN™
Alex Ouwens and Nathan Casserly have a genuine passion for real estate and love to help people achieve their goals and dreams through property. Find out more about OC here.
Interested in a career at Ouwens Casserly Real Estate? Check out our opportunities here.