Ray White Highlands Real Estate Agents

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There are a number of options to choose from and your agent should advise you on this.

Private Treaty Sale

The property is offered for sale with a fixed price and marketed until sold. This can limit the maximum potential price or you can run the risk of asking too much and the wrong buyers see the property.

Auction

there is no price advertised. The agent's feedback allows you to set yoyr reserve for the auction day. Buyers are able to bidtheir price to or above your reserve. Once you have agreement the deposit is paid and contracts are exchanged on the day.

Exclusive Agency by Private Treaty or Auction

Means the agent has full responsibilty for your property therefore more commitment and more focus.

Open agency

Listed with more than one agent, therefore NO commitment ("the others will do it"), lack of responsibility by sales consultant and agency with you.

In the state of New South Wales before residential property can be advertised for sale in any way, whether you are selling privately or using an agent, you are required under the Conveyancing Act 1919 to have a contract for the sale of land prepared and ready for any prospective buyers to inspect. This is usually prepared by a solicitor or a conveyancer.

Included in the contract will be

• Title Search - ownership & property details
• Deposited Plan - identifying the property showing easements for services etc.
• Details of the conditions of the sale and any inclusions/exclusions
• Sewer Diagram
• Council 149 Certificate showing the Zoning - a way of classifying land and limits the range of uses or activities that may be permitted to be carried out on that land
• Vendor disclosures & warranties

Once you have found the buyer for the property that are provided with a copy of this document with any extra special conditions included. Both parties sign their copy, the buyer pays the agreed deposit, contracts are dated and exchanged in preparation for settlement of the sale to take place.

Before the sign goes up you need to have a plan as how you are going to market the property. hee are a number of factors that require discussion and understanding before this takes place.

• How are you going to let the most number of prospective buyers know your property is for sale!
• What media promotion is required.
• Where will the enquiry come from.
• Is the internet sufficient to promote the property.
• What exactly does it mean and how will it effect the value of your property if the agent says he will do the advertising.
• What advertising schedule will you implement.
• What marketing strategy will you put in place.

It is vital in the current real estate market, to adopt every method available to make your property stand out from all the others currently for sale.

 

Most vendors know they must smarten up their property when it's time to sell.

The first thing that must go is the clutter, buyers must be able to see what they are being offered, so they can visualise living comfortably in that space.

Little things such as leaking taps, cracked windows, door hinges, faulty doors and screens, broken guttering are all items that indicate to buyers whether the home has been well maintained. You don't need buyers to start deducting thousands of dollars for repairs you could have easily have done yourself. Your idea of the cost to repair something and a buyers are poles apart when it comes to negotiating a sale.

A well lived in look may give a house character, but to a prospective buyer who is looking for something pristine your home needs to be squeaky clean.

When a property has been on the market for a number of months we can get a little fed up with having it ready for inspection, going that extra step. Don't fall into the trap of the, "it will do, they are not going to buy it anyway," attitude.

Remember that when a buyer is coming to inspect the property for the first time, then is your best opportunity to impress them.

Walk around your home and look at the interior walls. Do they need a wash or a fresh lick of paint? Stains, especially those left by water leaks or grubby hands certainly detract from the appearance and presentation of your home. If you've giving a fresh coat of paint to a room, remember that small rooms appear bigger if you use lighter colours.

Gardens are beautiful at the moment, pick some flowers and put them inside because you can enjoy them too.

This can be a most exciting, often rewarding & a life changing experience. It is often one of the most important financial decisions you will ever make.

Questions you can answer that will save you heartache & time before you start looking for your dream home.

• Do you have a deposit? How much?
• Do you have a property to sell first?
• Do you already have a mortgage, bankcard debt, personal loan?
• Do you have a good credit rating?
• How much can you borrow?
• Have you spoken to your bank or mortgage broker since the interest rates have adjusted downwards?
• What repayments will you be comfortable with? Be sure not to over extend yourself, it may be more appropriate to pay extra repayments off the loan than committing to a bigger mortgage.

Once you have answered the above questions and also take into consideration legal & government charges you will know what the price range is for you to buy you home.

Auction is a three stage marketing program maximising the exposure of your property through an extensive marketing strategy.

You are able to sell your property at any one of these stages: 1, 2 or 3

You are in control and the price you accept is entirely your decision.

Exchange of Contracts on Auction Day confirms your sale without any cooling off period.

Buyers must have their finance in place and have done all the necessary searches.

You know within 4-6 weeks what the market is prepared to pay for your property thereby helping you to make an informed decision.

If you have owned the home for a long period of time, with or without any borrowings or you have paid extra of your loan each month, your equity may be more than you think!

You could use this equity to help refinanace for an investment property or sell your current home to upgrade.

While prices in the current property market are more resonable, remember you are selling and buying in the same market.

Interest rates are attractive so what better time to make the move.

With many buyers nor making enquiries on property via the internet, people are purchasing property without stepping into a realestate office, hence agents often don't get to speak to them until they meet at an inspection.

Open Homes are often the first opportunity your agent has to directly sell your property to potential buyers, gauge the level of interest in your property and to negotiate with potential buyers. Remember, the easier you make it for buyers to see your home and the more times they view it, the more likely they are to buy it!

Even if only two groups of people attend your open home, that is two more groups than you would have if you left your agent sitting in the office waiting for someone to walk in and enquire about your property.

The general consensus among agents is that half an hour is the optimum time to conduct an open home. This ensures that you are likely to have more than one group of buyers there at a time. This promotes competition and action as viewers realise that others could also be interested in the property.

Emotional decisions are based on sight, sound, and smell. Your house must look attractive, the sounds should be unobtrusive and odours should be inoffensive.
- Tidy lawns, create an instant garden with flowering plants
- Kitchen & bathrooms should sparkle - wash the dishes & remove mould
- Brighten the living areas with some flowers, open the curtains, remove any personal clutter.
- Use subtle not overpowering deodorises or oil burners.
Turn off the television and play some quiet instrumental music.
Remove pets & their dishes for inspections.

It can be nice to brew a pot of coffee & if inclined some cups/saucers ready for the buyers.

Emotional decisions are based on sight, sound, and smell. Your house must look attractive, the sounds should be unobtrusive and odours should be inoffensive.
- Tidy lawns, create an instant garden with flowering plants
- Kitchen & bathrooms should sparkle - wash the dishes & remove mould
- Brighten the living areas with some flowers, open the curtains, remove any personal clutter.
- Use subtle not overpowering deodorises or oil burners.
Turn off the television and play some quiet instrumental music.
Remove pets & their dishes for inspections.

It can be nice to brew a pot of coffee & if inclined some cups/saucers ready for the buyers.

Have you checked your roof recently, often broken tiles go unnoticed as well as cracked/damaged ridge capping - these need to be repaired. A good clean or repaint/restoration of tiles will change the outside appearance of the house (there are a list of qualified and insured tradespeople in local phone directory to do the job).

The falling autumn leaves create a wonderful mulch in your gutters when they decompose. Weeds and seedlings growing in the gutters always attract comments - make sure gutters are cleaned regularly as water can run back under the tiles and eaves creating extensive water damage.

ATTENTION BUYERS... don't make the mistake of dismissing a home from a drive by inspection, you could miss out on a great property. If the location is where you want to be, inspect the home, it could be just what you are looking for, it may be bigger or smaller than it appears. It is amazing how often a property changes hands and the new owners do a few changes to the appearance, such as doing a make over of the garden, give it a paint, some even spend a little on bagging or rendering, giving the home a whole new look.

Beautiful sunny days we are currently having are still a little chilli when there is a breeze around. Make sure your home is a pleasant temperature around 20 degrees if you have central heating, or controlled heating it is more welcoming to buyers as against walking into a cold home. A wood-fire or a gas log fire also create an atmosphere, so have them burning away if you have one. Buyers have been roaming around in the cold and when they walk into a warm home that welcoming feeling stays with them while they are inspecting and when they go home and talk about your property.

If you have a pleasant outlook from any of the rooms in your home, open the window coverings so buyers can appreciate the aspect even if it is over your lovely garden.

Yes the coffee brewing, a cake in the oven adds to the ambience, a little soft music in the background.

Vendors can tell if they have pitched their asking price just right by the amount of purchaser interest. There will be lots of inspections, positive feedback and early offers.

The right asking price should make purchasers feel they need to move quickly and not miss out to someone else. The resulting climate of competition in the first weeks of marketing is usually the best opportunity to sell the property for the highest possible price.

If the asking price is way above the current market it creates the attitude with buyers that the "negotiation factor" is too big therefore no incentive to make an offer. It makes them think the seller is unlikely to accept a reasonable offer and offers are unlikely to be forthcoming.

Some simple home maintenance to carry out over these winter months. Remember keep your home in good repair as it is a valuable asset.

Remove moss &algae from your outdoor area's including paving, timber decks & steps.

Replace any rotting timber, facia boards, loose deck boards & steps. Clean downpipes & guttering, repair damaged sections.Remove oils stains from concrete.

Check home for condensation, if area's are wet or mould is appearing increase ventilation. Have your home checked for termites.

Dripping taps waste water & increase your water charges.

What better time than a wintery day to have a clean out of those cupboards, if it has not been used in the last 1-2years it probably won't be again so give it to someone who can use it.

Market Appraisal - an estimate of a property's fair market value on today's market

Agency Agreement - a written agreement between the vendor and real estate agent to allow the agent to sell the property.

Vendor - the property owner

Certificate of Title - identifies the ownership of land. It will also show if there are any mortgages against the property & if there are any other restrictions.

Contract of sale - a written, legally enforceable agreement outlining the terms & conditions for purchase or sale of a property. In NSW this must be available for a buyer to inspect when the property is first put on the market for sale.

Converyance - the legal process of the transferring of ownership of a property from the sellers name to the buyers name.

Commission - a fee for service payable to an agent at an agreed amount at settlement.

Deposit - Normally 10% of the purchase price (unless agreed otherwise) is paid by the buyer at the time of exchange of contracts.

Discharge of Mortgage - a document signed by the lender & given to the borrower when the loan has been repaid in full.

Transfer - a document registered with the Land titles Office that confirms the change of ownership.

Stamp Duty - State Government Tax assessed on the selling price of the property

Settlement date - a date which the new owner finalises payment & assumes possession of the property

Valuation - the act of determining the value of property taking inot consideration the land & its improvements.

Auction is a three stage marketing program maximising the exposure of your property through an extensive marketing strategy.

Your are able to sell your property at any one of these stages: 1,2 or 3

You are in control and the price you accept is entirely your decision.

Exchange of Contracts on Auction Day confirms your sale without any cooling off period.

Buyers must have their finance in place and have done all the necessary searches.

You know within 4-6 weeks what the market is prepared to pay for your property thereby helping you to make an informed decision.

Be Sure you:

• Register to bid before the auction, this can be done prior or on the day. You must have identification to register i.e. drivers licence or passport are ideal.
• Check with your agent.
• Are certain that the property and its locality is right for you.
• Have had your loan formally approved and are able to pay the 10% in an agreed manner, by bank or personal bank cheque or deposit bond (where acceptable).
• Set your upper price limit and rigidly stick to it. If necessary, get someone else to bid for you. Remember, you are bidding for the property not to win against another bidder. There is always another property.
• Have had any necessary building or pest inspections carried out.
• Know exactly what is and is not for sale with the property and whether any immediate renovations are required.
• Discuss the contract beforehand with your legal adviser and accept the terms and conditions

You Must Have a Contract of Sale to market and sell your Residential Property

Once you decide to sell your home, whether you choose an agent or market the property yourself you must comply with the Property Stock and Business Agents Act 2002. One extremely relevant section of this act is that as marketing commences you the seller must have available for a prospective buyers perusal a copy of the contract for sale. Your solicitor or conveyancer will organise the contract for you

This document, which must contain all the documents required by law for the sale of real estate in NSW, is the one which is an agreement to sell. It is signed by both the buyer and seller then duly exchanged and is accompanied by the appropriate deposit, usually 10% of the sale price.

The contract contains: Council 149 certificate, Certificate of Title, Sewer Diagram, Plan of Sub-division, Special conditions of the Sale, inclusions with the property.

Now is a good time to start having a clean out. Don't leave it until you have sold and the removalist truck is booked.

Give a feeling of space by disposing of excess furniture and all those items you have not used for years, it will make more room in the house. Start your spring cleaning early because once the warmer weather comes there will be lots to do outside.

Be ruthless, if you have not used something for a couple of years it is time to go to someone who can use it. Unwanted books, old paperwork, ornaments (keep the collectables) clothes that don't fit, you will be amazed at how much space it will create.

Have a garage sale, the neighbours might be interested in sharing/helping and it is a great way to make a few dollars. Remember "one persons trash is another person's treasure"

Don't lose your enthusiasm with your presentation, remember this is the first time the buyer sees your home and first impressions count.
Kitchen should sparkle, wipe down benches and cupboard doors, wash sink with some vinegar or bleach.
Put away any clutter, vacuum the floors
Make sure the bathroom and toilet are clean.
Condensation often causes mould on window sills and walls, remove with a solution of bleach
It is important to have the house warm not too hot. Open the curtains on sunny days
Some fresh flowers are nice, have the aroma of the coffee pot brewing.
Now your ready for the buyers and your house work is done so you can relax with a coffee & the crossword puzzle.