Thinking of selling- be prepared

Tuesday 21 Jan 2020

It’s the start of a new year and you may well be on the move. If you are thinking of selling, then make sure you are fully prepared. There are several factors you must make sure you have considered. Finance and equity, agent, marketing, maintenance, home and garden presentation, legal, and accommodation.

Good preparation will maximise your price and minimise your stress, there is more to selling than jumping in the week before you put the property on the market. Start by working out why you are selling, what financial help you will need, and what is the equity you have in your existing home. If you are trading up, speak to your banker or broker to find out how much you can borrow, and add to the equity in your home. If you are trading down find out how much you will have to spend on your new home and how you will invest the balance. If you are selling an investment, make sure you can payout the mortgage and you know your tax position. Make sure you consider all expenses.

Select an Agent. Don’t do this by choosing the agent that gives the highest appraisal or the cheapest marketing/ commission package. Remember you mostly get what you pay for. Discuss the marketing and make sure you cover all bases. Talk about the best method of sale for your needs. Choose an agent you are comfortable communicating with and choose how you would like to communicate during the process.

Make sure you have done the little maintenance tasks. It always impresses buyers when there is nothing to be done, it’s a good feel for them and shows that they are looking at a home that has been loved. It also eliminates negatives in the negotiation process.

Now the big one, presentation! This is an absolute must, as good presentation has proven time and time again to positively influence the interest and price achieved for a home. Start early with the garden. Prune what needs to be pruned months in advance so by the time you are selling there is new fresh growth. Make sure it is mulched and growing well. Street appeal is essential so concentrate on the front of the home and the front garden. Inside a quick lick of paint always lifts a home, declutter and decorate.

Finally, organise your legal adviser and plan what you are doing next. Are you moving, will you be renting and what are you doing with the money in the meantime?

Remember a failure to plan is a plan to fail. If you would like to discuss these thoughts in detail, please give me a call you only get one go at selling so make sure its properly done.

First National Real Estate has a FREE Home Sellers Guide. Click here for a copy. 

 

David Forrest - Managing Director

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