Selling Property 101 The Need to Know

Selling homes in the ACT NSW

Selling property can be a stressful and trying time. However, there are some things you can do to make the process easier for you and your family.

General Tips when Selling a Property
Build your Dream Team – Selling your property takes a team and ensuring that you have the right people working together to get you the best outcome is key.  Find a real estate agent that knows the area and can provide you with current and realistic advice on the market in your area. Use a lawyer or conveyancer that communicates effectively throughout the process so you never feel out of the loop.

Look at the different ways to sell – Property can be sold via private treaty, auction or expressions of interest. Discuss the options with your agent and find the method that is best suited for your type of property and market conditions.

Know the value of your property – It is important to know the value of your property, whether you are selling by auction or putting the property on the market for a set price. Research recent sales in the area and attend auctions to see what similar properties are being sold for.

Consider additional costs If you are selling your main residence, you will most likely be looking to buy a new home at the same time. When considering your required minimum sale price, make sure you consider the additional costs. Agent commission, marketing costs, removalists, as well as stamp duty on your new property should be factored in.

Know when to accept an offer – It can be difficult to know when to accept an offer. Consider the feedback from prospective buyers and adjust your expectations if it doesn’t align with the market. Discuss offers with your agent – they will advise you if it is too low based on the feedback. Remember, an offer is open to negotiation – don’t dismiss it straight away.  Understanding the process of selling a property and engaging the right people to assist you will make the selling experience less stressful and much more enjoyable.

Give us a call or send an email, as we would be happy to discuss any of the above matters with you.

For more information contact the Property Team:

Archie Tsirimokos      Chair                                      Property
(02) 6279 4304           Archie.Tsirimokos@mvlawyers.com.au

Janukshi Jamonts    Senior Associate                    Property
(02) 6279 4315           Janukshi.Jamonts@mvlawyers.com.au

Kim Cosgrove           Manager                                 Residential Conveyancing
(02) 6279 5305           Kim.Cosgrove@mvlawyers.com.au