Selling Tips

Selling a property can be exciting and at the same time terrifying too. It isn't quite as simple as sticking up a 'for sale' sign and waiting for the buyers to come to you. Here is a quick overview of the various steps involved in selling a property

  • Decision to Sell: Consider the market, best for your particular situation. Decide if you are better off buying a new home before or after you sell your current home
  • Choice of Agent: Your agent will be advertising, showing and completing the legal requirements of selling your property, so choose carefully. Popular and successful agents can be great but can be too busy serving too many clients and their attention and focus on your property might be split. You must better off choosing a boutique style agency similar to Waratah Estate Agents to handle the process
  • Sale Methods:  
                Private Treaty

                         The Seller sets the asking price
                         Buyers are aware through advertising that the home is in their buyer range
                         Buyers can place offers and begin negotiation immediately once the property is advertised
                         Market feedback is ongoing with Agent reports.
                         The Seller can adjust the price at anytime through the campaign
                         Most simple and flexible method

 

    Public Auction is when the amount you want for the property is not revealed to potential buyers attending the auction and biding for the property against other potential buyers. It can fetch a good price for the property due to urgency and competition amongst buyers
    • Expression of interest is where agents list desired price and request offers from prospective buyers. Agents invite prospective buyers to formally submit their best offers, within a specific date and time. The process is less intimidating and easier to understand but can take longer as there is no sense of urgency among buyers
    • Expression of interest is where agents list desired price and request offers from prospective buyers. Agents invite prospective buyers to formally submit their best offers, within a specific date and time. The process is less intimidating and easier to understand but can take longer as there is no sense of urgency among buyers

However the prospect of Sale method can also put buyers off. So it is important to discuss with your local Waratah Estate Agents regarding the best way to sell your property

  • Presentation: Presentation of your property is a critical factor in achieving the highest possible price. The emotional appeal required to stir the spirit of the buyers is unlikely to be generated by a poorly presented property. Obtain a building and pest inspection report. This allows you to have necessary repair work done prior to sale. A 100% clear report can be used as a selling feature for buyers.  Get tips from a property styler for the open inspection
  • Sale and negotiation: Your agent will mediate between you and buyers to reach a mutually acceptable price. The buyer will then pay a deposit to secure the property. Both seller and buyer’s lawyers and banks will work out the details of the sale to ensure both parties meet all legal and financial requirements.
  • Settlement: Make a note of all the inclusions in the purchase price including all the fittings and fixtures like light fittings, floor coverings, curtains and blinds however these can also be excluded if you prefer as long as they are noted in the contract for sale. You’ll relinquish the keys and legal rights to your property in exchange for the balance of payment from the buyer or their bank.