Deciding to sell your home can raise many emotions. Once you have decided it’s time to sell, consider this checklist to help with the selling process.
Research your selling price
Timing the market is an important consideration. Different parts of Australia can be in different stages of the property cycle at different times. So if you are selling in an area that is within a downturn then will be buying in an area that is heading to a peal, then you may find that it may not be a great time to move.
Understand the market in your area. Talk to a number or local real estate agents and get a good feel for what is selling around you and for how much. Try to get a feel for the times of year that home sales are strong in your area.
You may even wish to keep your home as an investment and rent it out. Our lending specialists can guide you through the steps to selling your home and buying another one. If you decide to keep your home and rent it out, they can help using the equity you’ve built up in your current home to keep it and buy another one. Simply call our hotline on 03 8560 5000 and speak to one of the team.
Tidy and Declutter your home
By tidying, cleaning and decluttering, you can make a huge difference. This includes outdoor areas too. Remember, you want to win over potential buyers in the first few seconds they enter your property. So even what they see walking up to the front door can have a big effect. First impressions last as the old saying goes.
Put personal items and clutter into storage away from your home. Decluttering can make a home look a lot more spacious so makes it attractive to buyers.
You may even find that there are larger jobs that you can do yourself like sprucing up with a cost of paint. This can have a great effect and can be done with minimal fuss and little cost.
Larger upgrades and renovations that can yield better returns may need that you top up your home loan to renovate your home prior to selling. Talk to us on 03 8560 5000 to see how you can top up your existing loan or refinance it.
Engage the right real estate agent
Make appointments to speak with a number of real estate agents in your local area. And really grill them about their expected selling price. Many will tell you just what you want to hear just to get your listing. You need one who will be honest as you’ll be spending quite a bit of time together in the coming weeks or months. Don’t fall for the trap of looking for the cheapest agent without really considering his/her ability to sell your home. If the agent can’t sell it in a reasonable time frame, then it can cost you more the savings your made on their commissions and fees.
Auction, Private Sale or Sale by Expression of Interest
Your agent will be able to advise on the most appropriate method of sale for your home and your area. They have the expertise and statistics about the area about what works and what doesn’t. Your style of home also may not necessarily suit a particular sales method even though other homes in your neighborhood might. Trust the guidance of your agent and be realistic about price expectations.
Prepare the Contract of Sale
Whether you engage a solicitor or a conveyancer, make sure any special conditions and the settlement period that is acceptable to you is in the contract.
Make sure your real estate agent is aware of the settlement terms and period. A clever agent can use the settlement period to your advantage to get you the best possible offers.
Find your new home
You’ll want to fairly swiftly find your new home; in particular in a buoyant market where your home has the potential of being sold quickly.
You can arrange pre-approval for your new home by calling our lending specialists on 03 8560 5000.
If you find a new home before your home is sold, you can speak to us about arranging bridging finance. A bridging loan allows you to keep your home for a period of time whilst you try to sell it and still be able to buy and move into your new home.