Selling
Investor
Where do I start if I want to sell my home?
10-May-2021
Once you have decided you want to sell your home, you’ve already taken the biggest step in the selling process. So what comes next?
If you’ve never sold a property before, it’s important to understand how the selling process works so you’ll know the order of events.
There are a number of decisions to make, including when to sell, which method works best for your property, which real estate agent to select to represent you, and the best way to prepare your property for sale.
How quickly you’ll need to proceed depends on your personal circumstances, especially whether you’ve already purchased your next home.
How does the selling process work?
Selling a house may seem daunting, but dividing it into key stages makes it easier to understand the steps that need to be taken.
1. Research – Once you have decided it is time to sell, you’ll need to do some research. Start with an online search of your local area to see which homes are for sale and which properties have sold near you to give you an idea of what your property is worth.
2. Valuation – To get an accurate idea of what price your property can achieve, consider reaching out for an objective valuation. Valuers will offer you a realistic estimate based on comparable sales and the size, type and condition of your home.
3. Real estate agents – An agent is your representative when selling your home, and is the one who negotiates the sale with potential buyers. Real estate agents can give you an indication of the current market trends and provide advice to help increase the outcome of your sale. This may involve minor renovations, de-cluttering, garden maintenance and staging, all designed to increase the appeal of your property. They will advise you on whether it is preferable to put a price on the property, put it up for auction or for expressions of interest, plus the advantages and disadvantages of each method.
4. Marketing – Online and print advertising, as well as brochures and signboards, will be used to help sell your home. Great photography and video will be the key, as well as a compelling description of the features of the property.
5. Open homes and auction – Once you and the agent have agreed on your strategy and timings, and the house is ready for inspection, you can put it on the market. Inspections are normally held on Saturdays and sometimes weeknights, and potential buyers will submit offers to your agent, who is best equipped to advise you whether to accept or not. If your property is to be sold at auction, this normally happens after the property has been on the market for four weeks.
6. Exchange and settlement – When you decide to accept an offer, you can negotiate terms and timings to suit both you and the buyer. After a settlement period, which is normally six weeks, your house is officially sold.
Although this can be a stressful time, the process will hopefully lead to a successful sale so you can move on to the next stage of your life.
SOURCE: Domain
If you’ve never sold a property before, it’s important to understand how the selling process works so you’ll know the order of events.
There are a number of decisions to make, including when to sell, which method works best for your property, which real estate agent to select to represent you, and the best way to prepare your property for sale.
How quickly you’ll need to proceed depends on your personal circumstances, especially whether you’ve already purchased your next home.
How does the selling process work?
Selling a house may seem daunting, but dividing it into key stages makes it easier to understand the steps that need to be taken.
1. Research – Once you have decided it is time to sell, you’ll need to do some research. Start with an online search of your local area to see which homes are for sale and which properties have sold near you to give you an idea of what your property is worth.
2. Valuation – To get an accurate idea of what price your property can achieve, consider reaching out for an objective valuation. Valuers will offer you a realistic estimate based on comparable sales and the size, type and condition of your home.
3. Real estate agents – An agent is your representative when selling your home, and is the one who negotiates the sale with potential buyers. Real estate agents can give you an indication of the current market trends and provide advice to help increase the outcome of your sale. This may involve minor renovations, de-cluttering, garden maintenance and staging, all designed to increase the appeal of your property. They will advise you on whether it is preferable to put a price on the property, put it up for auction or for expressions of interest, plus the advantages and disadvantages of each method.
4. Marketing – Online and print advertising, as well as brochures and signboards, will be used to help sell your home. Great photography and video will be the key, as well as a compelling description of the features of the property.
5. Open homes and auction – Once you and the agent have agreed on your strategy and timings, and the house is ready for inspection, you can put it on the market. Inspections are normally held on Saturdays and sometimes weeknights, and potential buyers will submit offers to your agent, who is best equipped to advise you whether to accept or not. If your property is to be sold at auction, this normally happens after the property has been on the market for four weeks.
6. Exchange and settlement – When you decide to accept an offer, you can negotiate terms and timings to suit both you and the buyer. After a settlement period, which is normally six weeks, your house is officially sold.
Although this can be a stressful time, the process will hopefully lead to a successful sale so you can move on to the next stage of your life.
SOURCE: Domain