You’ve decide to sell your home so I guess you should just pop up a For Sale sign and wait for a buyer? Ha! In reality the sale process involves a little more than that, however if you take the time to understand the steps involved,the selling process can be relatively straightforward, stress-free and dare I say?…..enjoyable!
Here at Reliance we have created a step by step guide to effectively and efficiently sell your home without forgoing your sanity!
One: Have a plan
Think about the end result. When you do sell, where are you going to move? Are you buying before selling? Will you rent? Go on a holiday? What will you do once the new buyer signs the dotted line? It’s important for you to think beyond the sales process to ensure you remain cool, calm and collected once the deal is done.
Two: It’s Agent time
Selecting the right agent will be one of the more important decisions you have to make so make sure you put in some time to research. Check out your local agents, look at their results, meet with them and work out who you think will help present your property in its best light.
Three: How do you want to sell and how much for?
Alongside your agent you will work out the best way to list, show and sell your home. You will also need to determine the price. Now I’m all for Big Hairy Audacious Goals but it is important in this step to maintain a sense of reality. Look around at your market and set a price that is realistic for your home and location. Your agent’s local knowledge will be instrumental here so make sure you let them work their magic and trust their judgement when it comes to price setting.
Four: Enter the Legal Eagles
It’s time to sign your life away….no, not really, just an agreement with your chosen agent! You will also at this stage need to meet with a lawyer or conveyancer to prepare a vendor statement. A vendor statement contains information about the property that buyers need to know before signing a contract to purchase.
Five: It’s show time
Advertising, ads, pictures and showings are the next phase of the sales process. This is when you need to step upthe plate and make your house sparkle. Today many sales agents recommend the use of a stylist to maximise the impact your home has on prospective buyers.
Six: Negotiate, negotiate and negotiate again
We are one step closer to that For Sale sign going up. Your Agent will play an integral part here in mediating between you and the prospective buyer to determine a sales price. Once an amount is agreed to, a deposit will be paid.
Seven: Officially under contract
You’ve agreed to a price, the deposit has been paid so now is the time to call in the lawyers and the banks to ensure all t’s are crossed and I’s dotted.
Eight: Settlement day!
This is it, pop the champers and stick the giant SOLD sticker up. Sale complete! ‘gone’ are any legal rights to the property and ‘in’ is a healthy new bank balance as the final payment is made.