There are often several lists of items to factor in when the time comes to sell your home and they could range from repairs to finding the right agent, to presentation and where to move to next.
While these are all important factors, five additional areas to consider prior to or during the sale would include, understanding the market, building trust in your agent, checking in on your tenants as well as the property history and access details for future owners.
Research the current market
If you are a keen property enthusiast, you may already have your finger on the pulse of the property market and have a fine knowledge of what recent properties have sold for and where your home could sit on the ladder.
Or, like many, you rely on the experts to advise you on the price and recent sales. To give you a head start, investigate through the real estate portals what properties in your suburb are listed or sold for so that you have an idea before engaging an agent to sell. This will assist you in coming to an agreement on the eventual list price.
Build a relationship with your agent
Your sales agent is going to talk you through one of the biggest transactions of your lifetime and it is important to build trust in that agent so that you feel comfortable with the process and are happy with the final sale.
If you don’t feel that they have the experience or you have questions, don’t be shy to ask as many as you need to understand the process and how they will assist you through the sale.
Check on the owner and tenant obligations
If you are selling a property with a tenant, ask your property manager to advise you of the obligations that you have as an owner throughout the sale. This may include access to the property for inspections and notice periods that may be required once the property sells.
You may choose to sell the property tenanted or provide the tenant with notice prior to selling, especially in cases where work may need to be done.
Your sales agent and solicitor will need to know of any details like lease terms and tenancy details prior to the sale as this may impact the type of buyer that is interested and the terms relating to the exchange of contract.
Find the keys and access details
Often if you have been living in the property for some time or there have been several tenancies, there may be an abundance of keys to the property, some that don’t fit locks or even missing.
Carry out a stocktake on keys and other access devices like remotes for garages and alarms prior to settlement so that these can all be handed over once the property has changed hands.
Check the property history and requirements
Are there requirements or caveats that are listed over the property that may impact the sale or attract a different kind of buyer? Older properties may be heritage listed or depending on neighbourhoods and councils, there may be restrictions over potential DA’s or work being carried out.
It is important to be transparent with this information prior to the sale so that it can be communicated with potential purchasers and not have a chance to impact the sale.