8 Steps for selling your home
1. Decide to do it
The first step is always making a firm decision to sell your home to buy another better suited to your financial, geographic and/or lifestyle needs.
Sometimes this takes years of contemplation. Sometimes a decision to sell is made soon after a life-changing event.
2. Make a budget
It is important to have a clear view of your financial position. What’s your house worth? How much money do you need to buy your next home?
Work out a detailed budget ahead of your next property transaction. Break down the costs of selling your house, as well as buying costs. Make a funding plan showing you can afford it.
3. Get your home prepared
Buyers often decide if they are interested in a property within minutes of first sighting. Make sure your home’s first impression is positive by getting it looking its best before it goes to market.
For detail on how to do this, go to 5 steps for getting your home ready for sale.
4. Engage an agent
Choosing a real estate agent to promote and sell your home is one of a vendor’s biggest decisions. A hard-working agent may produce a stronger sale result.
You may consider asking a number of different agents to appraise your home before appointing your representative. It could for instance be worthwhile looking into each agent’s recent sale results, reputation, marketing plan, proposed method of sale and if your personalities are compatible.
5. Engage a legal representative
Selling your home is a legally binding transaction. Most vendors engage a legal representative with experience in property conveyancing to work on their behalf. This person may provide assistance in reviewing the sale contract and reviewing buyers’ written offers.
6. Get building/pest inspections and valuations
If you are selling your home at auction, it is an unconditional method of sale, therefore prospective buyers may bid with greater confidence if they can review building and/or pest inspection reports ahead of the auction.
Independent valuation reports to support your home’s advertised price may also boost buyer demand.
7. Tell the world
The more people who know your home is for sale, the better its chance of finding a new owner. It’s time to launch your promotional campaign with gusto.
Popular real estate media include portal video links and print advertisements, street billboards and agency window signage.
8. Negotiate a sale
Your home has found its market. Your agent presents a written offer on the contract at or above your desired sale price. If you have already bought your next home you may seek a short settlement period so you can move as quickly as possible. If you plan to buy after selling, you may opt to negotiate a longer, 90-day-plus settlement period. Not what you're looking for? Preparing your home for sale Agents and advertising Methods of sale Conveyancing and settlement Typical costs Bridging finance Prospective buyers may bid with greater confidence if they can review building and/or pest inspection reports ahead
5 Steps for getting your home ready for sale
1. Pretend you are a buyer
You may want to go stand outside your property and ask yourself: if you were inspecting your home for the first time, what does it really look like on first sighting?
What words spring to mind? Does it make you feel proud, inspired or uninspired?
Be honest. This self-feedback will help you decide where to spend time and money preparing your home for sale. If you doubt your own objectivity, invite a trusted friend over to help with the assessment.
2. Tidy up the exterior
Some home buyers decide whether to keep driving or stop and inspect based on what they see from the street.
Before listing, sellers may want to spend some time getting their front facades and gardens in tip-top condition. Pruning, planting flowers, mowing, painting and/or cleaning the fence can help any home look its best.
Minor repairs can make a difference too - ensure gutters and window trims are clean and paint is not peeling. Check gates are securely attached, painted and latches and locks work.
It’s amazing how a cared-for space could push up your property value in a buyer’s mind.
3. Make sure the interior sparkles
A home that is squeaky clean, well maintained and obviously cared for by its owner, is one that is ready to be sold.
Lots of homes are bought based on a buyer’s first emotional reaction so it could pay to invest in some serious elbow grease before going to market.
Pay extra attention to bathrooms, kitchens, other wet areas and appliances. Cupboard doors, knobs and light fittings need a clean too. You may consider getting carpets and window dressings cleaned or replaced and touching up paint where necessary.
4. Review furniture and decor
One of the golden rules of selling houses is that light and space rule. The good news is you can make your home – no matter its actual dimensions – appear bigger and brighter with select furniture, decor and lighting.
Simply removing some of your own possessions can create instant space. De-clutter wherever possible. Your framed family photos make you smile, but they’re likely just noise to a buyer. Store away all personal items including photos and keepsakes ahead of open house inspections.
If your budget allows, you may want to consider hiring quality neutral furniture and decor to help your home appeal to the widest possible market of buyers, or you might even employ professional stagers.
5. Chase up the body corporate
If your home is an apartment, a townhouse or unit you’ll want to make sure the property’s common areas - including entrance gates, gardens, pathways and driveways - are tidy and in good repair.
Ask your body corporate manager for permission to tidy shared outdoor areas if necessary.