Preparing the contract of sale.
Preparing the contract of sale.
Engage a lawyer or conveyancer to prepare a contract of sale for the property. This will include all of the particulars that prospective purchasers will need including details of the owners, title, settlement dates, all conditions of the sale, inclusions (such as furnishings, light-fittings and appliances), zoning certificates and sewer diagrams.
Preparing your property to look its best.
Preparing your property to look its best.
There are many things large and small that you can do to enhance the appeal of your home and improve the sale price. Rule 1 is always de-clutter as much as possible. Also make sure you complete any outstanding maintenance and repairs which will be immediately obvious to potential buyers. Have your gardens looking their best – bring in a professional if need be. Before undertaking any major renovations consult your agent who will advise if they are necessary or if you’re simply over-capitalising – buyers will often prefer to make changes to their own taste. Your agent will also advise if they believe a professional stylist is necessary.
Choosing the best sales method.
Choosing the best sales method.
Your agent will advise you on what method of sale they believe will maximise the sale price of your property. Auction and private treaty sales are the most common methods, with tender and expressions of interest sometimes used for extremely high-end sales. Each method has its own pros and cons. Your agent will look at the particulars of the property, current market conditions, previous sales and competing listings when advising on the method they believe is best.
Effectively marketing your property.
Effectively marketing your property.
Effective marketing of your property is essential in order to reach the broadest spectrum of buyers. Marketing needs to be targeted, cost-effective and a perfect showcase of your property, with professional photos, copy and design. It may include internet marketing, local and daily press advertising, signage, window displays and editorial in real estate publications.
Determine your selling price or reserve.
Determine your selling price or reserve.
If selling by private treaty you may opt to sell for a prescribed amount or ‘offers from’. This price is based on previous sales, current market conditions, interest rates and present buyer demand. If selling at auction your agent will advise buyers of a likely price range. The reserve price – i.e. the minimum price that you will accept for the property at auction – does not have to be divulged to bidders and can be set on the day, based on buyer interest. Your agent will provide insightful guidance on price however the ultimate decision rests with you as the vendor.