The preparation you put into getting your property ready for sale can be the difference between getting a standard price and a great price. The best part is, it's not hard, time consuming or expensive. Whatever your motive for selling, the process can either be stress free or tense and disappointing. The good news is that you have the ability to choose.
The time required to sell your property is generally two to six weeks. Prior to placing the property on the market you need to allow two weeks for preparation and marketing.
Buyers for a property can be found all year round however it's not often that a purchaser for your home is out there, just waiting for you to put your home on the market. Timing, presentation and advertising are all required to bring buyers and sellers together for the best result. Spring is often considered to be the best time to sell. It's a time of optimism and with the weather clearing, more potential buyers will be out and about.
It is also a time when more sellers will put their homes on the market so there will be more competition. Winter usually presents fewer buyers, but the buyers are usually more focussed on purchasing and traditionally there will be fewer homes on the market to choose from.
There are many factors that influence the sale of a property, one of which is its presentation.
A tidy home says "Welcome". Your home should be kept neat and tidy during the inspection periods.
While you're cleaning, think about each room and what furniture really needs to be in it. Rooms look smaller when they are crowded. Clear out anything that's not needed to create a feeling of spaciousness.
Make sure that all minor repairs are completed. Sticking doors and windows, loose door knobs, faulty plumbing, or peeling paint may affect your sale. Let plenty of light into your home. Nothing improves atmosphere more than brightness. Fresh flowers or indoor plants always brighten up a home.
Method of Sale
An Auction is a clear and transparent sales method held in the public forum where registered bidders can competitively bid against each other to purchase a property.
When the highest bid is accepted (if the vendors reserve price is met) a sale occurs on the fall of the hammer. The property will be passed in if the vendors reserve isn't met.
Auction campaigns usually run for four weeks to allow enough time for potential purchasers to inspect the property and have enough time to get reports completed.
*Tips for buying at Auction
- Be informed about property prices in the area you are interested in
- Obtain a copy of the contract and get advice from your solicitor or conveyancer
- If you are interested in the property, let the agent know. You may consider making an offer before the auction
- If you are going to bid on a property it may be a good idea to arrange for professional building and pest inspections, surveys, strata searches etc to be undertaken before auction day
- If you are a first time home buyer, it is recommended you attend as many auctions as you can to get used to the auction process.
- If you intend to bid at an auction of a property you are required to register with the selling agent prior to the auction on the day. You must provide identification
- All bidders must display their registration number when making a bid
- If you are making a bid, make a clear and confident bid
- Know your price range and set your absolute limit. With an auction you can become carried away with emotions
- Remember to bring your cheque book! If you are successful you will be required to pay the deposit (usually 10% of the purchase price) after signing the contract on auction day.
This is a sales method where the vendor sets an asking price then invites offers to be submitted and accepted. This is where you will usually see "Offer Over" or "Offers Above".
Sales by private treaty generally allow for greater flexibility for negotiation and the vendor has more opportunity to consider each individual offer that has been presented. Time required to sell a property generally takes between two to six weeks.