Selling Tips

Selling your Property

Do you want to sell your real estate property? If so, then you have got to be aware of a few steps that you will need to take, in order to make a smooth sale of your property. And if you are a first-time seller of any home, you will probably need a guide to help you out. Fortunately for you, this article can help you out in selling your home. It would be much easier to sell your home, on a platform such as Magicbricks, if you knew just what kinds of steps that you would need to take.

Budget for the sale

The sale of your home would need to be budgeted for. There are a lot of expenses that you can incur when you want to sell your home. For example, you may have to pay extra for the renovations that you have got to do if you want to sell your home. There are also fees that you will have to pay the bank, such as your mortgage discharge fee.

1. Calculate the costs for hiring a real estate agent, if you are planning to hire one. This is because when you hire a real estate agent, they will usually charge a approx. 2.2% percent commission on the total sale price of your house. So if for example, you sell your home for several hundred Australian dollars, they will take around to 2.2%-3% percent of that total sale price as their commission.

2. You will also need to budget for the costs of miscellaneous expenses as well. For example, you will need to hire a solicitor when you sell your house. And there are also costs such as paying the mortgage discharge and your advertising costs for your home sale as well. Be sure to budget these costs when you are selling your home, so that you can price your house accordingly.

Overall, the total costs for extra expenses when you are selling your home can easily reach up to several thousands of Australian dollars. So if you are someone that is selling their home, you have got to stay committed to going through with the sale, since there are a lot of costs involved.

Analyze your market price

Next, you will also need to price your house accordingly too. If you actually want to sell it to someone, then you will need to set the price at a reasonable amount.

Do a bit of research on the property values of the houses around your area. One quick way that you could do that is to just go online and see what the average prices of the houses around you are. It is important that you try and get a good idea of what the kinds of prices of the properties around you are, so that you can also get a good amount of money when you sell your own house.

Setting the price of your real estate property does not only involve knowing the prices of the home around you, it would also involve the current state of your home. If your home is in a good condition, and if it has got specific amenities, such as a pool, then you can also increase the price of your home as well. So you may want to do some renovations to increase the value of your home.

Remember, property prices can vary depending on demand and the supply of housing. There could also be other factors that can affect the price of your home, such as in the condition it is in. If you fear that your property is not going to sell for much because it is in a bad condition, you could always renovate it to increase its sale price.

Find the services you need

In order to sell your home, you would actually need to do a bit of work first. The work that you need to do could be doing paperwork or even fixing up parts of your home. And this is why you will need to hire extra services if you would actually want to sell your home.

When you sell your home, you will always need to hire a solicitor/conveyancer. They will help you handle all of the legal paperwork that is involved with selling your home, such as the transfer of ownership, etc.

There are other miscellaneous services that you will need to hire as well. For example, if your home is in bad shape, then you will want to hire a renovator or even repairmen if you want your house to have better value on the market unless you do it yourself.

Finally, you should also consider hiring the services of real estate agent. It may seem like it would be costly to hire them because of their commission rate, but there are many services like Magicbricks who charge less and flat fee to sell your property. Hiring agents who are transparent is always worth because they charge flat fee with not extra cost and everything is included in their price i.e. Magicbricks and they may also sell your property much faster too because they have good knowledge of local market. It is always a smart idea to look for the services that cost less in commission of a professional Magicbricks real estate agent. If you save $15000 by selling a house worth $800,000 then you may take your whole family for a month of holiday. Be smart to save in commission.

These are just some of the services that you will need to hire if you are planning to sell your property. Take a good look at your home, and try to think about what kinds of extra services that you will need to hire, if you want to sell your property. Hiring these people and services could be an investment in order to up the value of your property.

Prepare your home

Preparing your home for the actual sale is really important too. This is because if your home is messy or seems like it is in bad repair, then no one will want to buy it. You should also take the time to prepare and clean your home if you would actually want to sell it for a high value.

Try to clean around your house a bit. For example, if you have got a garage you may want to empty it out. And the same goes true for any clutter that you have in your home. Removing clutter from your home can make it appear larger. And you can actually entice more people to buy your property if you take the time to clean it up beforehand. And cleaning up your home does not only involve the interior but the exterior as well. Try to fix up the landscaping a bit or apply a new coat of paint.

Cleaning up your home is just one step that you will need to take, there are other things that you would also need to do if you want to sell your home for a good price. You will also need to fix any damages that are in your home if you want to sell it for a good price. You will probably need to hire a repairman if you do not know how to fix these damages yourself. Holes in your roof, wiring trouble, leaky pipes and broken tiles are just some examples of the damages that you will need to fix if you want to sell your home.

You have got to prepare your home before you plan on selling it. A clean and well-maintained property will always fetch a higher price. And more people are inclined to buy a property that is well-maintained and clean too.

Advertise and promote

Selling your house takes more than just putting one ad in the newspaper. And you cannot just sell your home if you just tell people about it. You will need to actively promote and advertise the sale of your property if you actually want someone to buy it. And the way that you advertise your home, is going to affect the interest of people in it. Your Magicbricks Agent can do this for you and save you thousands in commission.

Magicbricks will hire a professional photographer. The pictures that they would take of the interior of your property are going to look gorgeous. And the house photographer could also take pictures of the exterior of your home as well; you could use the picture that they have taken to showcase your house in the ads that you post.

Advertising your home on the internet is a must. You can use the photos that you have gotten from the house photographer to advertise your home. There are also a lot of websites that allow you to post advertisements of your property for sale. Be sure to include a good and thorough description of your property when you post an ad about it. You may include details such as the number of rooms and the size of your home.

It is also a good idea to physically send out advertisements of your property as well. You could print brochures, which feature the for sale property. This is a great way to get more people interested in your property. You could leave these brochures in commercial areas. And you may even create flyers or posters that you could stick up in public places as well.

Open your home for tours and inspection

If you actually want a buyer to purchase your home, you have got to open it up for inspections and tours. Opening it up can allow the buyer to inspect the property for themselves, and it may push them to buy it too.

Arrange and decorate the home before the open house tour starts. You have got to ensure that your home is presentable if you actually want people to buy it. So clean it up again before the house tour starts, you do not want a bunch of dirty dishes sitting in the sink, when a buyer comes to inspect your home.

Leave brochures and flyers of your home for the people to take. If you hire a real estate agent, then they will probably be the ones that are handling the house tour. But it can still be a good idea to leave a few flyers and brochures around. The interested buyers may pick up these brochures and it may help them make a decision to purchase your home in the end.

Negotiate a price

When a person has expressed interest in your home, they will make further inquiries about the price. Now it is time to deal with the buyers personally. They will usually negotiate a price with you.

Your agent will normally do this for you. You will need to employ a few negotiation strategies if you would like to successfully negotiate a good price for your property. So it may be a good idea to read guides on negotiation tactics.

Remember that in negotiation it is a give and take. So depending on how much the buyer actually wants your property, you will need to also give some leeway on your part. In a lot of cases, you will not even have to lower your sale price, just the terms of the sale itself.

Receive a deposit and settlement payment

If the negotiations with the interested buyer were successful, then it is time to receive the payment from them. However, when it involves property sales, this step is not always very straightforward.

The buyer will pay around 10 percent of the total price of the property, and it will not be given to you, but it is to be held in the trust account of the agent/solicitor that you hired.

The final time for the deposit to be made will depend on you and the buyer. So you may want to talk further with the buyer, in order to set an actual date for the deposit to be given.

Before making the final sale to the buyer, double check that you have completed everything that you will need to do in order to actually sell your home.

Once, all of this is complete, and then the solicitor that you have hired will execute the final sale of your property.

Congratulations!

After following all of these steps, you have finally finished selling your first home! If you have not yet sold your property, then it can be a great idea to follow through with this entire guide. This is because there are a lot of things that you will need to remember in the sale of your property. And if you would actually want the sale to go smoothly, you need the help of this guide. If you have successfully sold your property though, congratulations on making a great sale!