Buying and selling houses are not small decisions one must make. However, people may find themselves wanting to sell a house for various reasons, such as moving overseas. The Australian real estate market is quite vibrant as it is now in most areas of the country. Everyone wants to sell their house for a profit. However, the amount of money you will make as profit will depend on where your house is located, and on how it is sold. Once you have made up your mind to sell a house, here are several useful tips that might help you:
Prepare the Selling Documents
Before you put up a classified ad for your house, you must have the paperwork for selling ready and in order. You must inform your bank of your intention to sell the house and get an eCOS (Electronic Contract for Sale). Buyers will want to see this documentation before inspecting the site. You can contact a third-party service like GlobalX legal experts to get such paperwork ready.
Inspect and Repair the House
All prospective buyers will carefully inspect the house before making a purchase. Some might even bring along a professional to do the inspection. So if you hope to sell the house, your property should be able to pass the scrutinizing gazes. Order an inspection on your own, and then do repairs if needed. If you have rooms that may look old, a simple paint job can make improvements. Add up all the repair costs, no matter how small, and calculate this cost into your selling price. Do not make major repairs before selling your property. You can shave off some money from the asking price and get the new owners to handle the repairs. It’s more cost effective in this manner.
Hire an Agent and a Lawyer
Most prospective home sellers conduct sales through a real estate agent. You might need one to get a good deal. However, real estate agents can be shady. Therefore, be sure to hire a good one with an impeccable reputation. Sort out the commission prices in advance. You should also hire a solicitor at the same time. The solicitor will be able to review your title deed and other documents, and offer you advice on how to proceed with the sale. A lawyer might also protect you from a predatory agent.
Assess Your Own House
Before potential buyers spot a problem with the property, you should be able to. You must prepare in advance to give good answers to certain expected questions. For example, all buyers will ask you why you are selling the property. Don’t lie; be honest about it. Also, step out of the house and assess it like an outsider. Try to see how an outsider might perceive the neighbourhood, the location, and so on. If you spot a problem, fix it immediately. Your sales pitch will depend on this assessment.
Honesty pays when it comes to home sales. Do not lie or distort the facts with regards to your property. Chances are high that you would be found out. If you do, and the word gets around, no one would want to buy. So, present factual information to prospective buyers, and be transparent in your dealings.
If you follow the above suggestions, your home sale will go off without a hitch.