Checklist for vendors: 5 important things to remember when selling your house
- Talk to your property lawyer. A good property lawyer will give you a list of all the different disclosures you are legally required to give to the buyer. If you are not sure how to answer a potential buyer’s question, make a note of it and check with your lawyer first. You don’t want to be misrepresenting anything to the buyer.
- Check with your accountant if you will be liable for any capital gains taxes. As at 1 October 2015, if you bought a property and sold it within 2 years, you may be liable to pay tax on any gains.
- Choose a real estate agent who specialises in your area. It’s a good idea to ask the agent for testimonials. The real estate agent should be realistic and optimistic and work to get you the best price. The agent will help you set a realistic marketing price and advise on whether to sell using an auction, tender or private treaty.
- If you plan to sell your house through an auction, if possible arrange it onsite at your home. Though I can’t prove it, from experience, auctions held onsite create a better atmosphere and are likely to go for a higher price than those in the real estate agent’s office.
- Don’t forget that first impressions count. Keep the home exterior and garden tidy. The bathrooms and kitchens are the most noticeable. Consider homestaging. It can add thousands of dollars to the selling price by creating a welcome feel to potential buyers.
BONUS TIP: Before your open home, lock all your valuables away or take them with you. Keep precious items out of sight. Trust me, it’s better safe than sorry.
Selling your home can be very emotional. There can be a tendency to expect a price which is way above the market value. A good agent will help guide you into forming a realistic value of your property.