Selling

10 Steps To Successfully Sell Your Home

If you are thinking about selling your home then you need to read this article on the ten steps to know to successfully sell your home.

We believe that selling doesn’t need to be daunting and can be exciting when you have the right knowledge. A good starting point is to understand what is involved in the selling process. We’ve put together the following 10 steps to selling a property so you feel comfortable knowing what is involved.

Step 1 Research your local market

The first step is to understand your local area. Each community has quirks and pricing changes. Your street compared to two streets over can changes hundreds of thousands. The next step will help with this more.

Step 2 getting a professional opinion

Knowing how much your property could yield market today is the most valuable information. Your molenaar + mcneice agent is hyper-local which means is sensitive to the immediate area and beyond. Understanding the trends in the street or suburb and also your specific features to be able to asses your position in the market. Breaking down all the data to provide you with a free a assessment of potential value

Step 3 Choose a method of sale

The most common methods to sell a home in Australia is; private treaty/private sale, auction, tender/expression of interest. The molenaar + mcneice agents also have a number of variations that have been tried and tested also. Each of these methods suit different properties and different markets and there is never one size fits all. You will need to consider the following elements before recommending the best method of sale:
• Property type
• Buyer interest levels
• How quick properties are selling
• Timing – how quickly you want to sell
• Personal preferences

Step 4 Prepare your property for sale

Research indicated correct styling and presentation ads 5% -10% to the final sale price. Not all homes need styling and/or presentation tips however the more time spent in this area the more people are attracted to the property. This has a direct impact on the the speed of the sale and final sale price.

Step 5 Engage a conveyancer or lawyer to draw up the Contract of Sale

Selling a property is a legal process and while you are not required to have a conveyancer or lawyer manage the settlement, managing the documentation and settlement of your property’s sale can be complicated. Your molenaar+mcneice agent can recommend the right team of experts familiar with the legal documents and legislation. This will provide you peace of mind and ensure the process runs smoothly.

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Step 6 Marketing of your property

Every property has a target audience. A marketing plan is designed to flush out as many potential buyers as possible in the shortest time frame. Different properties deserve different campaigns and your molenaar+mcneice agent can design the correct one for your property. A strong marketing campaign should be focused on reaching all possible local and active buyers, as well as pinpointing potential passive and out of area buyers. A strong marketing plan could include a mix of print, digital, local area marketing and database marketing based on who your target audience may be.

Step 7 Offers received or the property goes to auction

If you are selling by private treaty/private sale, interested buyers will make an offer to your agent who will in-turn present them to you for consideration. The agent will then negotiate on your behalf until you are happy with the price. This area is not to be taken lightly and the negotiation when handled correctly can pivot your sale in your favour. The agents at molenaar+mcneice are acutely aware of the importance of this step and highly skilled in this art form.

If selling by auction your property will be presented for public sale and if the hammer falls and the price is on or over the reserve, the property will be sold to the highest bidder. If you are selling via expression of interest/tender, buyers will submit their best offers by a particular time and date and your agent will negotiate with them to achieve an outcome both of you are happy with.

Step 8 Contract signed by both parties and deposit paid

Once the buyer and seller have agreed to sell the property or it has been sold by auction, the first step to legalise the sale is to sign and exchange the Contract of Sale. There will be two copies of the Contract of Sale, one for you and one for the buyer. You each sign one copy before they are swapped or as it’s called in some states ‘exchanged’. This process can be facilitated by your real estate agent, your solicitor or conveyancer. At the time of the exchange, the buyer will be required to pay a deposit, which is normally 10% of the purchase price, and this will be held in trust by the real estate agent or your conveyancer.

Step 9 Property settles

As settlement day approaches, your conveyancer or lawyer will work with the buyer’s settlement team to ensure all the legal obligations of the contract have been fulfilled. They will make all payments and lodge the correct documents with the relevant land registration office. Assuming all goes to plan, final payment will be made to you and the keys will be handed over to the new buyer.

Step 10 Celebrate!

This allows you to move on with the next step of your lives but not before you…celebrate!

Molenaar x McNeice
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