7 Phases of Selling Real Estate in Australia

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7
Phases of Selling Real Estate in Australia
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Everything important you should know about
selling off market
Youve decided that I want to sell my unit off
market. Its a significant decision, but
deciding to sell is just the beginning. If youve
never sold a house before, it can be a lengthy
process. We break down the processes to guarantee
that your sale goes off without a hitch.
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Get ready to sell your unit by yourself
Address any reasonable home maintenance issues
and small upgrades before putting your house on
the market to increase your chances of selling.
It also aids in decluttering and presenting your
home in the best possible light.
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Select a real estate representative
Request suggestions from relatives and friends
when choosing a real estate agent. You can also
go to open houses to meet local real estate
agents and learn about their sales strategies
firsthand. Once youve cut down your options,
conduct interviews with a handful to see who is
the best fit. Ask about their fees and charges
right away, and dont be afraid to
haggle. Before signing with an agent, be sure
they have a legitimate license and a thorough
understanding of your area.
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Choose a sales method and a price
When you decide to sell your home, youll need to
decide on a method of sale. Private treaties and
auctions are two prevalent types of sales
techniques. Your real estate agent can help you
figure out what works best in your neighborhood,
for your property type, and in the present
market. They can also give you advice on how
much your home is worth and assist you in
determining an asking price or a guide price.
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Confidentiality
A private treaty allows you to have a longer
sales campaign and more time to analyze potential
buyer offers on your home. However, if your
asking price is too high, your house may not
sell, and if it is too low, you may miss out on
the best possible price. Auctions create rivalry
among bidders, which can increase the sale price.
They are, however, riskier because you never know
how interested buyers are or how much they think
your home is worth until the day of the auction.
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Make the agency agreement official
The agency agreement governs your relationship
with your real estate agent. It specifies whether
and for how long they have exclusive rights to
sell your unit off market, their fees, and any
other expenditures such as marketing (online
advertising and for sale boards) and
administration fees. Before signing, you can
suggest changes to the agreement as part of the
negotiation process. If you have any doubts
regarding any of the information contained in the
agreement conditions, you should obtain legal
assistance.
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Prepare the vendors statement as well as the
sale contract.
This is a legal document that explains whether
the property has a mortgage, any covenants that
limit what the owner can do with it, and any
easements the land is subject to (such as
drainage, rights of way, or power lines), and
council zoning and related declarations.
Theyll also need to put together a contract of
sale that includes the title paperwork, a
drainage diagram, and a current planning
certificate from the local council. These
documents must also include a list of inclusions
and exclusions. Fittings and fixtures, such as
fixed floor coverings, light fixtures, and window
coverings, are standard includes in property
sales.
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The marketing campaigns
Your real estate agent will oversee the sales
campaign, which includes preparing your home for
showings, having marketing photographs taken, and
organizing open houses. Sales campaigns often run
46 weeks, so make sure your property is in
sellable condition before starting the promotion,
or you could waste time and money. Your
conveyancer or solicitor will handle settlement
six weeks after the contract of sale has been
exchanged. This is when you get the complete sale
price minus the deposit, the amount owed on your
house loan (which is paid to your lender), the
conveyancer or solicitors costs, and the real
estate agents fees. Once the settlement is
done, the transaction is finalized, and you must
evacuate the property immediately.
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