Are you preparing to sell your property? At Harcourts Focus we aim to make the process of selling your home as straightforward as possible.
Here you will find resources on understanding the home selling process, selling at auction, and a handy seller’s checklist.
Setting the Right Price
To determine market value, you need to consider both the land and building value. The land value is simple and straightforward, however the value of the house can differ based on many variables.
Here are 5 factors that influence home values:
Location – Quality of local schools, distance to local employment or easy access to main roads and public transport, proximity to local shopping, parks and recreational facilities.
Neighbourhood – First impressions are very important in the real estate industry. Consider how the neighbouring homes are maintained, study the crime rate and security surrounding your home.
Market – If demand exceeds supply in the real estate market, your property price will increase, it is important to adjust the price to the current mark and economic outlook.
Appearance and Condition – How your home is presented can impact its value. Altering your home is beneficial, ensuring the renovations are done correctly. A well-maintained home, decorated and manicure both inside and out can help increase the value of your property.
Features – The number of bedrooms and bathrooms offer flexible lifestyle options, like turning the extra rooms into a guest or games room, study or even a theatre room. Storage has an underrated effect on the value of your home, whether it be extra cupboard space in the bedrooms, bathrooms or kitchen, home with abundant storage space are more valued.
It is important you know what your property is really worth. Researching the current market facts and figures will help determine the value of your home. A Harcourts sales representative will show you comparisons of other homes with similar land and building features in your area. If prices are set in accord with the current market area, the property has a good chance of attracting enthusiastic buyers.
Preparing Your Home for Sale
Declutter – Simple yet effective. Ensuring the house is clean and tidy is obvious, however it is essential to remove the excess clutter from the house that takes up any unnecessary space or prevents the buyer from picturing themselves living there.
Repair – Make any necessary repairs as you can, to make the property look newer, fresh and well-maintained. Touch up the paint on the walls, inside and out. Fill out any holes, scratches or dents in the walls. Ensure the carpets, tiles and/or floorboards are in good clean condition. Trimming and tidying the garden beds, doing any weeding or relaying the grass in the front and back gardens also makes a big difference to appearance of the property.
Styling – Arrange your furniture in a way that makes the rooms look bigger and more spacious, also add curtains and accessories that brighten room and compliment the style of the house. By taking personalised items allows people to walk in and envision themselves owning the house, and making it their home.
Choosing Your Method of Sale
There are four typical methods of sale:
Exclusive Listing – Where the seller has an agent and when the agent finds a suitable buyer, the seller pays the agent commission.
Open Listing – When the seller has multiple agents selling the property, but only has to pay the agent who found the buyer commission. This can also mean the seller has chosen to sell the property themselves.
Auction – when the sale is awarded to the highest bidder.
Tender – When an offer is made by potential buyers in secret in an effort to secure the property, the seller then chooses the offer closest or matching the set price.
Accepting an Offer
At Harcourts, our commitment to you is to present every offer in writing and go through them to help you understand and make an informed decision. We will also give you and the buyer the opportunity to add conditions during the negotiation of sale.
Common conditions of sale are subject to:
Completing the Sale
As the seller, you will have to arrange the settlement date within the Contract of Sale. Settlement usually occurs 30-90 days after the contract has been signed, depending on what has been agreed upon.
Possession of the property usually takes place on the settlement day although you and the buyer can agree for these dates to be different.