Steps in the Home Sale Process- Part 2
DETERMINING THE PRICE
Here’s the deal: setting your advertising price isn’t just based on the appraisal. You want to make sure you allow some room for negotiation and keep in mind other factors that affect a home’s value.
Your realtor should help you in determining the selling price based on the neighbourhood and property market. You will sign a sales agency agreement showing that you agree to the listing price. This agreement includes an estimated selling price as well as the minimum advertising price, allowing for the negotiations with potential buyers down the road.
ADVERTISING YOUR PROPERTY
You realtor should handle the marketing of your house and cover all associated costs, and the exact terms will be covered in the sales agency agreement. Make sure to look over any printed materials your agent designs, including brochures or flyers, to ensure accuracy.
Now, when it comes to advertising the price of your home, be aware that there are legal guidelines in place to prevent underquoting, also known as ‘bait advertising’. You cannot list a price significantly lower than you are willing to accept, and you must also avoid certain verbiage like ‘offers above’. The price alone or a price range can be advertised, and of course not including a price at all in your advertisements is also allowed.
Once your agent is marketing your home, you will need to consent to open inspections. This can be intimidating—no one likes the idea of dozens of strangers in their home whilst they aren’t there—but it is essential to selling your home.
Your realtor should collect contact information for everyone who comes to the open inspection, so that they can follow up.
ACCEPT AN OFFER
When a buyer is ready to make an offer, they must submit it in writing to your agent. Together, you and your realtor will consider the offer or offers, and if you accept one, you must confirm it with the buyers in writing. A contract of sale is then prepared. Once that is done, the offer becomes legally binding.
The time it takes to arrange financing, organise a conveyancer and finalise all the paperwork is usually a month to six weeks, although it is possible to extend the timeframe. Sometimes this is necessary if you sell your house before buying a new one. The settlement date is agreed upon in the contract and is binding, so be sure to be pragmatic about the amount of time you give yourself to move house.
Of course, if you choose Two Men and a Truck to handle your move, you will have nothing to get stressed out about. Our guys are pros and can handle even the most difficult jobs. If you’re looking for removalists in Sydney, Melbourne, Brisbane, Perth, Canberra, Gold Coast or Newcastle, call Two Men and a Truck today!