Selling your home? Here are the first steps to take
There is 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 to ensure the process runs as smoothly as possible.
Choose a quality agent
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, explains an MFAA accredited finance broker. “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,” she says.
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 together all the documents required is a tedious yet necessary part of the process. Before a property can be marketed for sale, your agent requires a copy of the Contract from your legal representative, explains the broker. From a disclosure document to a home loan pre-approval, ensure all the paperwork is prepared in time to ensure it all runs smoothly.
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.
Your property won’t sell itself
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.
“Engage in a thorough marketing campaign and invest in presenting your property in its best light,” advises the finance broker. “Trusting your agent’s strategy can help secure the best financial result.”
Speak to your broker
If you are making a decision to sell, speak to your finance broker to ensure that your plans after selling – whether they are buying a similar property, upgrading or building – are actually feasible.
“I always advise clients to speak to their broker first to make sure their plans for post-settlement are realistic,” says the finance broker. “There is nothing worse than selling your home and then not being able to achieve what you had set out to do.”
Surround yourself with a good team
When all of the people in your network, including your broker, conveyancer and agent, communicate effectively, you should be blissfully unaware of any minor issues that pop up during the course of the sale, explains the finance broker.
If you'd like help with your overall financial plan, speak to us on (08) 9315 4788
Source: MFAA https://www.mortgageandfinancehelp.com.au/investing/selling-your-home-first-steps/
Reproduced with the permission of the Mortgage and Finance Association of Australia (MFAA)
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