There is more to selling your property than just putting up “For Sale” signs to attract buyers; it requires a great deal of thought. Much like selling a car, a property sale is all about negotiating and ironing out the details with the buyer.
To take away the guesswork of selling your property, Laing + Simmons provides this step-by-step guide:
1. Get updates on the current market trends and find out how these may affect your potential for a sale. For example, low market prices might provide a window of opportunity to purchase a new house before or after your property sale.
2. Create a marketing plan. Decide with your agent on the best strategies that apply to your property sale.
3. Make a property assessment. This will help you determine your property’s market value.
4. Sign a listing agreement with your agent. It should cover your agent’s commission, a complete specification of your agent’s duties, and the right to sell your property. The agreement’s expiration date and method of settling disputes during transactions are important clauses in the paperwork, as well.
5. Use different methods to advertise your property. Take photographs and prepare floor plans of your property. This will give buyers an idea of your property’s layout.
6. Disclose your property details. List down the things your buyers need to know about your property, such as minor repairs and inspections. Prepare your Vendor’s Statement and Contract of Sale.
7. Show your property. Your agent will take care of contacting the buyers, while your job is to prepare the house for inspection.
8. Negotiate the price. With your agent as mediator, agree on a base price with the buyer. Settle the details for paying the deposit.
9. Work out all legal and financial details. Real estate attorneys and banks will carefully inspect the details of the sale.
10. Once the buyer completes payment and all details are finalised, turn over your keys and the legal rights of your home.
Making the right choices and developing your selling plan is the key to a good property sale. With a solid sale plan, you’ll have no problem finding prospects and getting a good deal.