Selling your home? Here are the first steps to take
There's more to selling your home than putting up a ‘For Sale’ sign on your front lawn.
Here are the first things you should check off your list to help you get a favourable result from your investment and ensure the selling process runs as smoothly as possible.
Speak to your broker
If you’re considering selling your home, speak to your finance broker to ensure that your plans after selling – whether it’s buying a similar property, upgrading or building – are actually feasible, you don’t want to sell your home only to discover you can’t achieve what you had in mind afterwards.
Choose a quality agent
A website and promotional material will always highlight the agent in the best possible way, but word of mouth and past client reviews will show their true colours.
Asking family and friends who have purchased or sold a property about their experience is a great way to ensure the agent you’ve enlisted will provide quality service.
Make sure the agent specialises in your area and is someone you feel comfortable around as they don’t just negotiate prices on your behalf, they also act as a mediator and represent you as a vendor.
Prepare the paperwork
Getting all the documents required together is a tedious yet necessary part of the property selling process.
From a disclosure document to a home loan pre-approval, ensure all the paperwork is prepared in time to ensure it all runs smoothly. For example, before a property can be marketed for sale, your agent will require a copy of the contract of sale from your legal representative.
Don’t take things personally
Remember this is a business transaction; don’t feel insulted if you receive feedback on the property that doesn’t match how you feel about your home. To ensure you come out with the best deal, remove all emotion and think of your house as a commodity.
Present your property well
Thinking that your home will sell itself can be a costly mistake. Despite how much you like the way you have it set up, furniture, flooring and painting changes can make a big difference to the property’s wider appeal, and marketing it widely can increase the competition and, therefore, the price.
Trust your agent's strategy, engage in a thorough marketing campaign and invest in presenting your property in its best light to help secure the best financial result.
Surround yourself with a good team
Having a good team – including your broker, conveyancer and agent – that communicates well will ensure any issues that arise during the sale can be quickly and easily dealt with.
Contact us if you have any questions.
Source: MFAA
Reproduced with the permission of the Mortgage and Finance Association of Australia (MFAA)
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