Preparing to sell

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If you like a property agent to survey your home and get a better idea about how much your property is worth, call 

JM Chase First National at 8877 6688! We'd love you help you in anyway we can! 

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11 KEY STEPS TO SELLING A PROPERTY

1. What is happening in the broader market? What is best for your particular situation? Are you better off buying a new home before or after you sell your current home.
2. Choosing an agent. Your agent will be in charge of advertising, showing and completing the legal requirements of selling your property, so choose carefully. Find out more about choosing an agent here.
3. How do you want to sell? You and your agent will work out a plan for listing, showing and selling your property.
   
4. Determining your selling price and property inclusions comes next. Your property’s location, size, age and features will be assessed, as will the current market and area trends. Click here to get your free suburb report. You may not want to sell now but wouldn't it be a good idea to know what your property is valued in the market today? its potential in the future? Maybe a few changes need to be made to enhance the value of your property.. 
   
5. You'll sign an agreement with your agent. This legally binding contract will detail any commissions, the estimated sale price, duration of the agreement, advertising costs, process and much much more.
    
6. Now you must prepare the Vendor’s Statement (or Section 32) for your property and the Contract of Sale through your solicitor or conveyancer. These will include all of the details prospective purchasers will need. 
7. Advertising and showing your property. The fun part!! This generally involves photographing your property, drawing up floor plans and writing your online ads. For help with presenting your property, check out our presentation section here, or download our presentation checklist. Think about the lighting, setting the mood, what you want to portray to your potential target customers
8. Going on the market. Prospective buyers will contact your agent and arrange times to view your property, or attend your open homes. Marketing keeps going till sale is over - so keep it neat, tidy, clean, bright and fresh.
   
9. Sale and negotiation. Your agent will auction your property or mediate between you and buyers to reach a mutually acceptable price. The buyer will then pay a deposit.
   
10. Under contract. 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.
    
11. Settlement day. All going to plan, you’ll relinquish the keys and legal rights to your property in exchange for the balance of payment from the buyer or their bank. Congratulations, you have sold your home!
    

AUCTION OR SET DATE SALE OR ASKING PRICE (PRIVATE SALE)??

Auction: 

You set a reserve price with your agent (the minimum price you will sell your property for) and the agent conducts the auction on the specified date. If bids don't reach your reserve price, your agent may negotiate with the highest bidder on your behalf.

Auctions can result in a higher price for your property as there can be a sense of urgency and competition amongst buyers, however the prospect of an auction can also put buyers off. It's important to discuss with your agent what the best way to sell your property is for you. For auction day tips, check out the on auction day section. 

Set Date Sale: 

You and your real estate agent work out a price range for your property, prior to it being advertised and shown. The agent invites prospective buyers to formally submit their best offer, which must be received by a specific date and time. After the set date, your agent will collect and present the offers to you. You can choose to accept the highest offer, enter negotiations or re-list the property if your desired price is not reached. Set Date Sales are popular in a slower market.

Asking Price / Private Sale: 

Listing an asking price or requesting offers or expressions of interest can be more appealing to buyers, as the process is less intimidating and easier to understand. Buyers will usually try to negotiate below the asking price, so it is important to discuss your expectations with your agent. Private sales are attractive to buyers but can take longer as there is not the same sense of urgency compared to an Auction or Set Date Sale.