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Things for vendors to consider before selling their property

Posted by Tiffany on 18/06/2020
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Selling your estate isn’t a piece of cake. There are several items you’ll need to do to get your home ready for a sale. It can be a stressful time for you, from making the decision to sell until the sold sticker is put on the sign. Selling your home at the best of times can be an exhausting and frustrating process, but if you need to sell quickly or your property has a few issues, let’s say, then this process can be even more difficult.

Selling a property in difficult circumstances often leads sellers to ask, ‘What do I need to reveal when selling a house? ‘After all, you want a quick sale at the best price, and disclosing problems with the buyer before they have a chance to fall in love with your home’s unique selling points can potentially hamper the chances of this happening. We have built a checklist of what you would need to do before selling to make things a little simpler and less stressful.

  • Appointing a Real estate agent is very crucial

Throughout the selling process a real estate agent will be a key person. They can assist with ads, locate prospective buyers, show buyers the property and manage the related legalities. The real estate agent will have a good knowledge of the surrounding area, because they will have a great insight into what sort of customers will be interested and the price range at which they will sell.

If you’ve selected a real estate agent, you’ll sign a contract detailing all of the rates, bonuses, approximate selling price etc. Make sure you carefully read the document or contract before you sign it.

  • Fixing the appropriate price
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Vendors can work out a price with their agent. The role of the agent in setting a price is to do their homework and understand the local market, provide CMA report (Comparable market analysis) as well as understand the needs of the sellers, find a best price, with a willing seller and a willing buyer.

  • Executing proper marketing strategies

The Real estate agent will come handy in this part by recommending a marketing campaign that could include a board from the front of the house, listing on realestate.com.au, Domain.com.au, Crestonrealestate.com.au, listing photography, creating a floor plan, writing copies and printing advertisements. Each listing is unique, and the campaigns are adjusted depending on budget.

  • Proper documentation

Do not let your sale go through in vain because there isn’t all the paperwork in order. Take time before you go onto the market to ensure that you are up to date with any certifications required from local council and other relevant authorities.

  • Complying sale with legal side

Your solicitor or conveyancer, forwarding agent would have to execute a land selling contract. Some of the information that needs to be included must include: owners’ identification, title, dates of settlement, all terms of sale and what’s included in it (e.g., carpet, furnishings), as well as a zoning certification, special conditions.

  • Choosing the method of selling

Vendors should coordinate with their Real estate agent to decide which strategy is best for the property – either private contract or auction. Both methods have both advantages and disadvantages and many factors influence the decision, including current trends in the market and area. Analysing which brings lots of advantages and profits the vendors should opt for the appropriate method.

  • Making proper arrangements for the property

It’s the perfect time to make any repairs before you sell. Sellers should look “long, hard” inside and outside their property to work out how to make it as attractive as possible. So that it would make it easy for vendors to sell their property swiftly without any delays.

  • Processing the final settlement

“Settlement” is the final stage of the sale when the purchaser completes the contract price payment to the vendor and takes legal possession of the property. Upon completion of the settlement the purchaser owns the property. However before settlement purchaser much do the the final inspection of the property. All keys for the buyer to collect should be left to the selling real estate agent. The property should be left in compliance with the selling contract, that is to say: to leave behind what was included in the deal. Vendors should disconnect electricity , water, gas, telephone , internet and any other connections before leaving, cancel any deliveries and redirect their mail to their new property.

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