Sell My House
There is no denying it, selling a house is not always an easy task. It takes time, it takes effort, and begrudgingly of all, it takes money. When you are selling your own house, it is important to not only attain the highest selling price possible, but complete the sale in a legal and efficient way. Here some steps you should follow to help achieve this.
Decide how you want to sell
It is possible to sell your house without spending thousands hiring a real estate agent. Legally, you are free to do this irregardless of what state or territory in Australia you live in, however, there are different criteria and requirements.
Most states and territories require a private seller to complete a number of legal demands prior to the listing of the house. Victoria differs from the others by allowing private sellers to use professional conveyancing services to meet these pre-requisites as opposed to agents. This means that you can get assistance, without having to hire anyone. These pre-requisites include having your house and property valued, getting the residence structurally inspected, and completing a vendor’s statement. Getting your house valued will give you a good idea of what your listing price or price range should be. Having the building inspected and completing a vendor’s statement will assure prospective buyers they are not purchasing a property that will need an abundance of work to be done before they can move in. In Tasmania, the vendor’s statement is soon to be a compulsory document. South Australia is very similar, but requires the statement to be completed by a solicitor or conveyancer. If you are selling in the ACT, you will need to create a draft contract of sale before your home is listed, and this too must be prepared by a legal practitioner.
Prepare your home and take photographs and video
While you may already be focused on how you are going to paint and furnish your new home, you should spend some time preparing your home for your listing photographs and video. This list includes – but is not limited to: cleaning, painting, gardening, and installing modern appliances and legal requirements such as air-conditioning and smoke detectors. It is also important to organise the furniture. Remember, the prospective buyer will want the house to be bare enough so they can picture their own items in there, but not too bare that they cannot imagine it as a warm and inviting home.
It is extremely rare – or even non-existent – for a house to sell without advertising. If you are selling your house by yourself, this step will be more difficult, as established companies have contacts in place with high-traffic listing websites. However, you can still upload your listing (sometimes a fee will apply), distribute fliers, and erect a ‘for sale’ sign on your front lawn. As the owner of the house, you will have a much better idea of what aspects of the house to emphasise, and prospective buyers will be drawn to this.
Similar to the last point in the above step, when conducting a walk-through, you will need to select key selling points in your house that you want to emphasise. This can change depending on the viewer – for example a pool or large backyard for a family. Be as professional as possible, and consider having brochures printed-up to distribute.
It is widely recommended for all offers and counter-offers to be written down. Don’t be afraid to negotiate with buyers. Don’t be in too much of a rush to unload your property, but keep in mind how the housing market is at the time. When you agree on the purchase price, the buyer will then deliver a deposit.
Usually the buyer and seller’s lawyers work with the banks at this point, however you can also do it yourself. Consult closely with your bank, and make sure that all parties have met their legal and financial requirements. If in doubt, discuss this with a professional. Queensland also differs from other states here, and requires a warning statement to be signed and attached to the front page of your contract of sale.
If everything checks out, you can now hand-over the keys, and exchange the property for the outstanding balance.
Sometimes things will not go according to plan, so it is best to have someone you can turn to for advice. You can still decide to conduct the sale by yourself, and could very well end up saving yourself thousands of dollars.