Buying property can be stressful, but so too can selling it. From the minute our home is listed for sale, we are faced with many challenges. This includes keeping consistency and multiple open showings which are conducted by your real estate agent. Though it can indeed be chaotic, getting yourself prepared for the journey that awaits will help you enjoy the ultimately rewarding experience. Here are some important steps to remember when selling your house:
Expect A Facelift
One of the best tricks when listing a house for sale is making it appealing to potential buyers. When selling your house, expect that a real estate agent will prompt you to give your home a semi makeover in the process. Rather than showing off a used house, create the feel of a new prospect for buyers. Your agent will likely suggest painting and other cosmetic improvements that will lend to a “new house” feel, as well as some potentially big-ticket items that could help your resale and net proceeds.
Expect An Early Sale
Working toward a fast sale should be at the top of your priority list! Selling your house quickly will most likely mean you are receiving the best price. The longer a home sits on the market, the more people will wonder why and questions of overpricing will arise. Be aware that some investors and savvy home buyers will look for new listings to put a quick, slightly below market offer on to see if they can achieve a deal, however, this will allow you space to negotiate without being in such a hurry. Though an early sale is your primary goal, this won’t happen without hard work and dedication from both you and your agent.
Expect Many Home Viewings
Sometimes, keeping your home consistently clean and ready for inspection can be hard and cause inconvenience But, this is to be expected when selling. Though this may cause some stress, remember having lots of viewings is a good thing and it will increase the likelihood your listing will be snapped up by the right buyer.
Expect Price Re-Adjustments And Negotiations
When selling your house, significant research should be done in regards to the price before your home hits the market. However, the property market can fluctuate and your initial price will more often than not be subject to change. Changing your price through your selling journey may not always be a bad thing, sometimes it can be revealed that your home may be priced too low if the offers you are receiving are above your asking price. Your real estate agent will be your best point of contact if changes need to be made. They will help you do this in a timely fashion to ensure a successful result.
Expect And Weigh Tax Implications
While many people will not have to report the sale of their home to the tax office, there are a small few that make up the exception. Generally, if you own the home you live in, or have lived in the residence for more than two years, you won’t be up for capital gains tax. However, this may not be the case if you are selling a holiday house or if the sale exceeds over $250,000 ($500,000 for married couples).
How Can iBuildNew Help?
Building a new home and have a property that you need to sell during this process? iBuildNew recommends Agent Select. They are a property advisory service that organises FREE, no-obligation appraisals of your property, and provide you with a comparison report showing agent price estimates, commission and marketing fees and the best agents in your area. To discuss further options, give us a call on 1800 184 284 or book a call online!
Let us do the legwork for you.
- We’ll ask the right questions to better understand your needs
- We’ll create a recommended shortlist ideally matched to you
- We’ll answer specific questions or concerns related to home building, land purchasing or financing
Breanna Taylor
Breanna Taylor is a third-year journalism and PR student studying at Swinburne University in Hawthorn. She has a strong passion for interior design and a growing interest in property development and renovation.
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