A Step-By-Step Guide to Selling Your Home
Nov 19, 2023
Selling your home can be a daunting task, especially if it’s your first time. There are many steps involved, and it can be overwhelming to know where to start. In this guide, we will break down the process into easy-to-follow steps to help you successfully sell your home.
1. Prepare for the Sale
This step may take some time and require some effort. Prepare your house and make it look as good as possible for potential buyers. Declutter, clear out, get the garden ready and take care of any maintenance issues. Take some time to research recent sales to get an idea of selling prices in your area.
Read more: How to Prepare Your Property for a Sale
2. Find an Agent
Choose a real estate agent you would want to buy from. Ask potential agents questions about prices, their knowledge of the local market and customer service and see how they respond. Leave your contact details and see who gets back to you. Research their credentials and read customer testimonials and reviews.
You can pretend to be a buyer by visiting the properties they are already selling to get a firsthand experience of their selling process.
Make sure the agent you choose has a valid licence and thorough knowledge of the area.
3. Decide How You Want to Sell
You can sell either by auction or through a private treaty. Both have their advantages and limitations. Most real estate transactions in Western Australia are done through a private treaty, though auctions are also a popular way to sell a house.
Your estate agent should be able to tell you what would work best in your area and the current market conditions.
4. Decide On a Selling Price
Work with your agent to ensure the selling price isn’t overpriced or under-valued. Research the statistics of recently sold properties to get an idea of the selling price you can set.
Be prepared that you won’t necessarily get the desired price as markets fluctuate. If you are interested in making a faster sale, price your house competitively.
5. Vendor Statement
You’ll need to prepare a vendor’s statement or section 32. Usually, a conveyancer or a legal practitioner prepares this statement that covers everything buyers should know before they buy a property.
The document will explain whether there’s a mortgage on the property, any covenants that would restrict what the owner can do with it, any easements the land is subject to (drainage, rights of way, or power lines, for example), council zoning and associated declarations.
6. Marketing the Property
Discuss with your agent how to best showcase your home. Considering your audience is key.
One of the best ways to market your property is through the internet, so ensure to upload high-quality photos on the most effective selling platforms.
Ensure your home is presented like a showroom. Again, your agent should give recommendations on presentation to your specific target audience. Discuss which methods you can afford and should invest in to maximise exposure to your property.
Read more: Gary’s Top Tips to Get a Sale
7. Accepting an Offer
Once you receive an offer from a buyer, your agent will negotiate with them on your behalf to get the best outcome. It is crucial to carefully consider any conditions attached to the offer, such as financing, building inspections, and the sale of their own property.
Once you have accepted an offer, the buyer will usually pay a deposit and sign a contract of sale. It is recommended to have a legal professional review the contract to ensure everything is in order.
8. Finalising the Sale
Before finalising the sale, ensure that a conveyancer is engaged to make the sales contract official and that the final funds are received.
Complete any necessary paperwork, such as transfer of title and arrange for your belongings to be moved out of the property before settlement day.
On settlement day, the buyer will pay the rest of the purchase price to your conveyancer, and you will hand over the keys to the new owner.
At Home 2 Home, we offer a fast, risk-free and transparent property selling service. We will help you get a fair price for your property and make the process as smooth as possible. If you’re looking for a smooth and hassle-free way to sell your home, contact us for a consultation.