Looking to Sell

If you are planning to sell your property, your first step should be to establish an estimated selling price - and the best way to do this is to seek the assistnace of a trusted real estate agent.

There are a number of things that can affect the price of a home, including location, the type of property, demand in your local area and marketing conditions. The preparation you put into getting your property ready for sale can be the difference between getting a market price and getting a great price.

The process of presenting your property for sale is an important one to master. Whatever your motive for selling, the process can either be stress free and lucrative or tense and disappointing.

Presentation

Presentation of your property is a critical factor in achieving the highest possible price. This is similar to detailing a car before you sell it. A neglected building sends out 'warning signals' to prospective buyers.

So it is important to do whatever is possible to have your property looking its absolute best on inspection day. Some of the turn offs for buyers include:

• Animal odours in the house
• Evidence of damp or moisture in the walls
• Strong food or smoking odours
• Doors, windows or gates that stick
• Too much furniture or personal belongings cluttering the space
• Stained carpet

To improve the presentation, seek a professional opinion, as many of these problems can be fixed over a weekend for little expense. For vacant properties, we wouldrecommend the use of decorator furniture for the period of marketing. The average cost to furnish a two to four bedroom apartment/house for six weeks is in the range of $3,000-$7,000 and we strongly believe this is an excellent investment in maximising the sale price of your property.

Method of Sale

When it comes to selling your property, there are three popular methods to choose from:

• Private Treaty (Sale)
• Public Auction
• Public Tender

Each has its own advantages and it is advisable to speak to your agent about the benefits of each method.

Sale Preparation Checklist

• Is the property presented well?Should you engage a property stylist to improve the appeal of your property by enhancing its appearance
• Obtain a building and pest inspection report - This allows you to have necessary repair work done prior to sale
• The Contract for Sale should be prepared by your solicitor or conveyancer with all the essential terms and conditions. In NSW the law requires that a contract be available for inspection prior to the property being offered for sale
• A certificate of compliance should be obtained from the Local Council if you have recently undertaken major building works
• If there is a current lease, check the expiry date and termination requirements and advise your solicitor
• Make a note of all the inclusions. Standard items include light fittings, floor coverings, curtains/blinds and stove etc. These can also be excluded if you prefer but it should be noted in the contract for sale.