If you are thinking of selling your home, whether it is the first time or seventh time there is probably alot of questions you have around the process.
Here is a list of frequently asked questions (FAQs) for people looking to sell their home:
Why should I use a real estate agent to sell my home?
A real estate agent can provide expert advice, market your home effectively, negotiate on your behalf, and handle the complex paperwork and legal dealings involved in the selling process.
How do I choose the best agents?
Making sure you appoint the right agent to assist in the marketing and sale of your home is a crucial decision that will affect your experience and the end result. A good idea is to go through open for inspections before you’re ready to sell to see how agents present a home, and how they interact with you as someone they think is a potential buyer. See what questions they ask and, importantly, if they follow you up after the open home.
What should I do to prepare my home for sale?
It is a good idea to take the time to prepare your home before marketing it for sale, put yourself in the buyers shoes and do walk around your property. Now is the time to finish off all those little jobs around the home to ensure your property is presented in its best light. A thorough clean and de-clutter is a great way to start along with tidying up any overdue maintenance jobs. A key area to focus is the entrance to your home, first impressions really do matter. You can consider staging for vacant properties to improve presentation and appeal to more buyers. We can provide advice and recommendations on any specialised trades to assist with this process.
What is the cost of selling a house?
The costs of selling and buying a property can vary depending on numerous factors, such as the location of the property, the type of property, the method of sale, and the fees charged by professionals. In most instances you will have the marketing costs, real estate fees and conveyancers’ costs to consider. Other fees may include moving fees and cleaning costs. For more info head to our blog costs of buying and selling property
Do I buy before I sell or sell before I buy?
If you are making a move in most instances you will need to buy elsewhere. There are pros and cons to either selling or buying first.
Selling first allows you to set a cleat budget for the next home, if you sell for more this gives you opportunity to spend this on the next property and puts you in a stronger position as a buyer.
Buying first allows certainty on where you are moving to but may mean that you have some added time pressure to get your property on the market and sold. It is certainly worth looking at both options to consider what will work best for your circumstances.
What is the best sales method to sell my home in Tasmania?
Most homes in Tasmania are sold via private treaty, this is where a property is advertised with a price, or expressions of interest and buyers can make confidential offers on the property. Auction can also still be a good consideration for the right property where people bid at a public auction, where there is good competition, this can produce great results. Your agent will assist further in guiding you regarding the best sale method for your property.
When is the best time to sell my home?
The best time to sell your home depends on personal and financial readiness, and market conditions.
How do you determine the listing price of my home?
We conduct a comparative market analysis (CMA) that considers recent sales of similar homes in your area, current market conditions, and the unique features of your home along with your expectations on price.
What happens if my home is priced too high or too low?
Pricing too high can lead to your home sitting on the market for too long, while pricing too low may result in receiving less than its value. Accurate pricing is crucial for a successful sales campaign.
How will you market my home?
We use a MIX of online listings, social media, professional photography, video, and traditional marketing methods to reach a wide audience and showcase your homes story.
Do I need to be present during inspections/open homes?
If you have appointed an agent to act on your behalf It is best if homeowners are not present during showings, as it allows potential buyers to feel more comfortable and open when viewing the property.
How will buyers make offers?
All offers should be received in writing from buyers outlining the price and any conditions of their offer. Once you receive an acceptable offer your property is now under contract. Most contracts will commonly have around 14-28 days for confirmation of special clauses, common clauses include building inspection and finance clauses.
How do you handle offers and negotiations?
We will present all offers to you in detail (in person meetings are best for this when possible), we will be able to provide advice on how to respond, and negotiate on your behalf to achieve the best possible terms.
How do you handle the legal aspects of the sale?
Your real estate agent can prepare the contract of sale on your behalf, as well as coordinate with solicitors/conveyancers, and ensure compliance with all local, state, and federal regulations.
What does the contract process like?
Once you have accepted an offer on your property your home is under offer.
The contract process involves finalising the sale contract conditions. You will need to appoint a conveyancer/solicitor to act on your behalf to coordinate and we will communicate directly with them on your behalf.
How long does it take to sell a home?
The timeline varies based on market conditions, the home's condition, pricing, and buyer financing, but typically it can take anywhere from a few weeks to several months. Information on the average days on market in your area will assist in giving you a guideline for the selling time in your neighbourhood.
Can I sell my home if it’s currently rented out?
Yes, you can sell with a tenant in place. You will need to consider the terms of the lease and we can communicate with your tenants about showings and the sale process.
What are the tax implications of selling my home?
If you are selling your principal place of residence there will be no tax implications.
If the property is an investment property the tax implications can vary, you may need to pay capital gains tax depending on your profit and how long you’ve owned the home. Consult with a tax professional for specific advice.
Can I sell my home myself?
Yes, you can sell your home without an agent, known as For Sale By Owner (FSBO), but it involves handling all aspects of the sale process yourself, which can be quite complex and time-consuming.
If you have any further questions regarding the sale of your property reach out to our friendly and experienced team today for an obligation free chat.
