Selling your home is not an easy task as it involves more than sticking a “for sale” sign and waiting for buyers to contact you. There are steps you need to follow before you can sell your property.
Here are the 11 steps involved in selling a house:
1. Make a decision to sell. Study the latest trends in the general market and determine the best course for your particular circumstance. In addition, resolve if it would be more advantageous to purchase a new home before or after you sell you present home.
2. Selecting an agent. Choose wisely as your agent will handle marketing, showing and negotiations while selling your house. And believe that not all agents are the same or will do the same job!
3. Choosing which method to sell. You and your agent will work together to come up with a plan for listing, marketing and selling your house. There are different types of sale that you can consider. Generally, they are Private Treaty (normal sale), Auction and Tender!
4. Finalising your selling price and property inclusions/exclusions. Especially if the market has changed between when your appraisal was first done to when you actually get to the market. The market may have changed!
5. Signing an agreement with your agent. The agreement you will sign is legally binding and will specify any commissions, the appraised price range, duration of the agreement, marketing expenses, process, and more.
6. Preparing the Vendor’s Statement for your property and Contract of Sale by your solicitor or conveyancer. This will specify all the information potential buyers will need.
7. Marketing and opening your house for viewing. This is probably the most important step because if your home is not marketed correctly then it won’t matter how well you’ve presented it. No potential buyers = no sale. The more buyers your marketing attracts the better chance you have of selling for a premium price.
8. Putting it on the market. Potential buyers will get in touch with your agent and schedule times to inspect your house or show up at open homes.
9. Sale and negotiation. It is your agent who will conduct the auction for your house or negotiate with the buyers on your behalf to reach a mutually agreed upon price. A deposit will then be paid by the buyer.
10. Signing the contract. The lawyers and the banks for both the seller and the buyer will set up the particulars of the sale to make sure all legal and financial conditions have been met by the two parties.
11. Settlement day. When all things go according to plan, you’ll surrender the keys and legal rights to your house and your buyer or their bank will give the balance of the payment.
After this last step, your property is considered officially sold!
If you’d like more details of each step or an appraisal on your home call Annette Pinkerton on 0418447856 today.