So, finally you have decided to sell your home. It is one of the biggest decisions because your emotions are involved in it. If you have never sold any property before in the Australian real estate market, then you need expert guidance and advice.
The process can be quite complex. Make sure you maximise the visibility and attract prospective buyers of your home.
For that, you need to present the property in the best possible manner. Here is a list of important tips that will help you sell a home at the best price.
1. Preparation is Important
You should inspect the property and fix the damages to increase the chances of selling. Clean up the entire house hiring professionals, maintain the interiors as well as exteriors, paint the walls, etc.
Also, research the latest sales in the local market to get a better idea of the selling price that you want to achieve.
2. Hire a Real Estate Agent
You can ask your friends, family and colleagues to find a reliable real estate agent. Once you have a shortlist, line up for an interview and find the best one. They can help you in finding potential buyers for your home in this competitive real estate market.
3. Choose a Sales Method & Set a Price
There are two types of sales methods: Private Treat and auction. You can take guidance from you real estate agent so that you can opt for the most suitable option depending on your needs and current market trends.
They can also help you know the worth of your property and set an asking price or set up a guide price for an auction.
4. Finalise the Agency Agreement
The agency agreement is a written contraction between you and the real estate agent. It will help you know the exclusive rights to sell your home and their fees.
The vendors statement is a legal document which includes the mortgage on property and any covenants that would hinder what the property owner can do with it. You need to hire a solicitor to prepare the contract of sale. This includes the title documents, a current planning certificate, and drainage diagram.
4. Secure a Sale
In a private treaty sale, you and the buyer exchange the signed copies of the contract of sale, and the buyer pays a deposit.
If you are selling by auction, the buyer who bids the highest price will finalise the deal. If bidding doesn’t reach the reserve price, your property is passed in- this means you are option not to sell the property. However, sale may be negotiated and you need to secure it by signing the contract.
These are some great tips that will help you know the right process of selling a house in Australia at the best price. You can do thorough research and invite potential buyers for your property.