What Not to Forget When Selling Your Home

  • Posted 16 Jul

What Not to Forget When Selling Your Home

Getting your house ready to sell involves a long list of tasks. In addition to marketing the property, you’ll have to be making needed repairs, repainting if finishes look tired, and thoroughly cleaning inside and out. You want your home to look its best to entice potential buyers, and these steps can help your property sell more quickly. But there are a few additional steps that you shouldn’t overlook:

Make sure you have the best possible agent

Many people choose their agent based on recommendations from friends or co-workers, and while word of mouth is effective you still want to do some background research. For instance, check your agent’s references and contact a few clients other than your friend to find out about their experience working with the agent.

Also, research property values independently to get an idea of the current state of the market in your neighbourhood. Obviously you are not the expert, but if you check around and your numbers match what the agent is saying, you’ll know she did her due diligence.

If something doesn’t seem right, ask for an explanation. Of course you want to trust your agent, but she should make you feel comfortable and keep you informed every step of the way.

Know the history of your home

If you suspect that your home may be in a heritage zone or have a heritage listing, this could be a selling point if you take advantage of it. If you have an older home you should definitely look into its history and see if you find anything significant. A little time spent research might pay off in an increased sales price.

Reclaim all keys

If your sister or neighbour or the dog walker has a house key, don’t forget to collect them all. You may have a spare hidden key in the yard or an extra that you loan out to houseguests. As part of preparing to sell, make a list of any extra keys and start collecting them.

Understand tenants rights

If your property is being rented by tenants, you’ll need to research the tenancy regulations that govern how much notice you need to give, what their options will be, and so on. Even if you are selling to another property investor and the tenants will stay, you still have obligations to them. Tenancy acts vary by state, and your agent should be able to help you comply with your local regulations.

Create your backup plan

It’s tempting to think that in Australia’s hot real estate market, your home will sell immediately without any problems. But realistically that’s not always the case, and you should be prepared.

Before the auction or sales listing, discuss with your family what your alternative plan will be should the sale be more difficult than expected. You may decide to look into property refinance and try to sell at a later date, or take out a mortgage for a new property while renting out your current home. While no one wants to think about a worst-case scenario, having a backup plan brings peace of mind.

If your family is planning a move or you want to understand your refinance options, Australian Credit and Finance can help. Contact us and we’ll help you get a home financing deal tailored to your needs.

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