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Thinking of selling?
The best time to sell Traditionally, spring has been considered the best time of year to sell due to typically warmer weather and gardens looking their best. However, while the warmer months do have their advantages, you may be surprised to learn that there are actually benefits in selling at all times of year. For example, during winter there are generally less properties on the market so if buyer demand is strong this could potentially result in a great price for you!
Choosing an agent All agents at Harcourts Signature hold a valid Property Representative Licence to practice selling real estate in Tasmania. Specific industry training and regular professional development programs are required to maintain this licence. All our agents have access to the full range of industry leading marketing, research and technology tools required to get the best result for your property. If you haven’t yet met one of our team members, give us a call and we can introduce you to one of our local area specialists. TheTipselling process can appear quite daunting but our staff are here to guide you through the process from start to finish. If you’re unsure of anything, don’t hesitate to ask questions!
Your property representative will be the best person to offer you advice on when and how to introduce your property to the market, taking the unique characteristics of your home into account.
Seller Guide 2022
IfTipyouare selling a property that isn’t your primary residence, you may be liable for Capital Gains Tax, so it’s best to seek advice from your Accountant or Financial Advisor.
- Potential penalties for exiting a fixed rate home loan agreement
Private treaty Private treaty is the most common method of sale used in Tasmania. Your home is advertised for sale with an asking price and your agent will then negotiate with prospective buyers on your behalf and present all offers to you in writing. Private treaty allows for greater flexibility for both you and the buyer as certain conditions can be negotiated into the contract at your request or the request of the potential buyer.
Auction
Taking your property to market via auction allows you to set the terms, conditions and deadline. You agree on an undisclosed minimum reserve price, with no pressure to sell if the property fetches a lower than expected bid. There’s also the very real possibility of acquiring a higher price, especially if there is keen buyer interest.
Selling costs
Methods of sale
- Marketing costs such as photography, property styling and online advertising
- The fee paid to your agent for acting on your behalf to sell your property. This is based on the REIT Scale of Fees and typically negotiated between you and the agent as a percentage of the final sale value.
It’s important to be mindful of the various costs associated with selling a home including:
- Home repairs or touch-ups before going to market, such as painting or landscaping
- Moving costs such as removalists, storage and disconnection/connection fees
- Conveyancing or Solicitors fees - Stamp Duty on any new purchase. - Tax on the sale of investment properties
Mow the lawn, prune and mulch the Addgardenapopof colour to your space with some fresh cut flowers
Fixing and repairing
Buyers will do their due diligence when inspecting your property so it is important to fix any defects if you can afford to do so. Take a walk through your home and make a list of jobs you can easily do yourself, and those that you may have to hire a professional for.
Preparation
Checklist
Removing personal items such as family photos or fridge magnets will help potential buyers envisage the space as their own.
Styling While clutter can distract a buyer, a vacant home may give the perception of being cold and un welcoming. A professional stylist will stage your property with furniture and decor so your home is looking its absolute best. Our experience shows the investment is well worth it come settlement day.
Check for loose hinges, trip hazards, broken light bulbs
Tidying and de-cluttering
Utilise outdoor furniture to help show off potential entertaining Removeareas pet bowls and litters before open day
Give house a thorough clean including skirting boards, inside cupboards and wardrobes Ensure storage areas are neat and Considertidy styling beds in simple neutral linen
De-clutter by selling, storing, throwing away or giving items to Touchcharityup any damaged plaster or chipped paint
yourPreparinghome
Marketing review meeting
Weekly marketing report
The price of your home must be right. Too low and you could lose money. Too high and you could lose buyers. That’s where the intimate local mar ket knowledge and expertise from your Harcourts Signature representative comes in. Quite simply, the current property market determines the value of your home. Your agent will conduct research into past sales in the area and provide you with a comparative market analysis to help determine where your property will sit and what price to advertise it at. Buyer interest is greatest for your property within the second and third week of its launch. To max imise this window of opportunity your agent will design a marketing programme that peaks during this prime period. Written marketing plan Following initial consultation and property inspec tion, we will present a comprehensive marketing strategy that identifies where and when all sched uled promotional activities and regular client contact will take place. Open for inspection
We all know the importance of first impressions, so how your home looks, feels and even smells is crucial when it comes to open homes. Open homes are a chance for prospective buyers to view the property and ask questions about it. Your agent may offer you advice on how to style your linen, what items to pack away in storage and how to position your furniture and decor.
Post-inspection feedback Following each inspection, we will keep you up to-date on how your property was perceived, pertinent comments, price relevant issues and prospective ‘hot prospects’.
This is an important tool for assessing market reaction to your property and also to identify those prospective buyers who are showing the most interest. Your agent will make ongoing recommendations which will maximise our targeted marketing efforts.
Seller Guide 2022
Tip Many prospective buyers will want to open cupboards to examine wardrobe or storage space, so have these areas looking tidy with all valuables securely packed away.
It is during the initial few weeks after your property is first introduced to the market that it is most valuable to review the marketing progress to date. A frank and open discussion between client and consultant can often identify new opportu nities and strategies which can build upon the original marketing plan.
All offers presented in writing
Because it is your property, it is solely your deci sion whether to accept or decline a specific offer. For your consideration we will formally present every offer received in writing so that you are better able to make an informed judgment. We are happy to offer advice, but we will always leave the final choice up to you without exerting any undue influence whatsoever.
yourMarketinghome
Pricing your home
• Solicitor’s approval of the contract
Signing a contract
• Sale of another property
Once this process has been completed your agent will check whether any other interested parties are putting in an offer. This system ensures it remains fair to all parties in a multiple offer situation.
As the vendor, you can then accept the offer, reject it or counter sign it. Counter signing usually occurs when you are not satisfied with the price offered and/or conditions included and wish to subsequently alter them. The contract will then be brought back to the purchaser for their consideration. If accept ed, the purchaser will initial your alteration and the property is under offer subject to any conditions that the contract may contain. Alternatively the purchaser also has the right to counter sign. Your sales consul tant will continue negotiations between you and the purchaser until you are both in agreement.
IfTipthesale
• Finance • A builder’s inspection and report
price of your property is $750,000 or higher, you will be required to apply to the Australian Tax Office for a clearance certificate.
Your agent will have the purchaser sign a standard approved contract with their offer and any conditions of sale either you or the purchaser has requested.
• Specialist inspection or approval
When it comes time to sign a contract, it is important to understand the various conditions that may be included and how this may affect your decision as the vendor. Common conditions of sale are subject to:
Accepting an offer
Once an offer has been accepted and all parties have signed the contract, the purchaser will be asked to pay a deposit. This usually equates to 10% of the purchase price. Once paid, this deposit is held in a trust account until settlement. If the contract does not become unconditional the deposit will be repaid to the purchaser.
TipWerecommend moving out a few days before settlement to avoid any last minute stress and inconvenience. It’s often hard to determine the exact time of settlement due to the involvement of so many parties.
Settlement day On settlement the purchaser’s solicitor will exchange the following with your solicitor: • Monies • Transfer documentation • Keys to the property Within a few days of settlement the purchaser’s solicitor or financier will register the necessary documentation and mortgage transfer with the Land Titles Registry. Possession of the property usually takes place on the settlement day although you and the buyer can agree for these dates to be different.
Once an offer is accepted
Settlement generally takes place between you and the purchaser through your legal/financial representatives. Officially, it’s where ownership passes from you to the purchaser, and the bal ance of the sale price is paid to you or your financial institution. As the seller, you would have set the settlement date within the contract of sale.
theCompletingsale
Settlement usually occurs 30-90 days after the contract has been signed, depending on what has been agreed upon. The purchaser is entitled to inspect the property at a reasonable time the week prior to settlement, and as the seller, you must hand the property over in the condition in which it was inspected and sold.
Congratulations! Congratulations! The sale of your property is complete and the keys have been exchanged. All that’s left to do is celebrate and toast to your next chapter, whatever that may be.
Seller Guide 2022
Signature Harcourts Signature Rosny Park 3 Bayfield Street Rosny Park TAS 7018 P (03) 6244 8111 Harcourts Signature New Town 180 New Town Road New Town TAS 7008 P (03) 6228 3000 Harcourts Signature Sorell 12B Gateway Shopping Centre, 29 Cole Street Sorell 7172 P (03) 6265 2005 Harcourts Signature Northern Suburbs 339 Main PTASGlenorchyRoad7010(03)62733500 Sales | Developments | Rentals