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Seller’s Toolkit

Bailey Devine Seller’s Toolkit

If you are thinking about selling your property, there are many questions that you may need answered, especially if it is the first time you have sold a home. Bailey Devine have created a sellers’ toolkit that includes a range of frequently asked questions and answers that may help you in this very important decision making process.

If you need more detailed information and assistance, please contact the team at Bailey Devine and we will be more than happy to have a chat and help you out.

Seller’s Toolkit

Mortgage Calculator

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Purchase price
Please enter here the amount you expect to pay for a home.
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Down payment
Down payment is cash that you pay upfront for your home.
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Term in years
Number of years you have to pay.
years
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Interest rate (per year)
The percentage of interest that you will pay on your mortgage for a specific term.
%
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Property tax
Enter your property tax here if you know it.
per year
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Home insurance
Most lenders require home insurance. Enter its price here.
per year
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PMI
PMI is Private Mortgage Insurance which is usually required to pay if your Down payment less than 20%.
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Principal & Interest
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Stamp Duty Calculator

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Calculator coming soon.

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Seller’s FAQ

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  • QWhat about pricing my property?
    A

    Many factors determine a properties price including; supply and demand, market sentiment, population growth, our mining sector, interest rates, just to name a few. The overall combination of these factors determine at any one time how the property market is performing.

    Using sound judgement, research and experience, your agent will be able to determine the right price for your home.

    An experienced agent will be able to provide competent and reliable advise to ensure you make the best possible decision when selling your home. Who you appoint to represent you when selling your home is absolutely critical to ensure the best outcome can be achieved.

  • QWhat do I have to do myself?
    A

    The most important thing for the owners to do is to ensure that the presentation of the house is as best as it can be, both inside and out.

    Buyers first impressions are crucial to securing the best outcome, so ensuring the house is presenting to its best capacity is crucial. When people visit the home it’s imperative the outside is welcoming with lawns cut, garden beds weeded and mulched.

    The inside of the house needs to be de-cluttered and cleaned and any maintenance issues attended to eg. painting, carpets professionally cleaned, if needed leaking taps attended to, loose fittings repaired etc.

    Your real estate agent should advise you what needs to be done and if necessary help you find a suitable contractor should you need one. Great presentation will assist in achieving the best price, so take your time to ensure everything is the best it can be!!

  • QWhat happens when everything is ready?
    A

    When the house is ready for sale your marketing plan is implemented. Your agent will work through your marketing plan with you in order to ensure your home is marketed correctly, within your budget and to a professional, welcoming standard.

    An effective, strategic marketing plan is critical to ensure your target market is reached, which will enable every potential buyer, access to your home. More buyers, more offers, more money for you!!

  • QWhat is an open for inspection?
    A

    Open for inspections are usually for a 30 to 40-minute duration during the weekend which enables all prospective purchasers to attend at the one time frame.

    Sometimes buyers are unable to attend an open for inspection and therefore a private viewing can be arranged. A competent agent will ask the prospective buyer questions regarding their borrowing position, time frame to purchase and keys features they are looking for when purchasing a property. This will ensure a genuine, qualified buyer will be viewing your home during this appointment.

  • QWhat happens if there is an offer made for my property?
    A

    Your agent meets with the prospective purchaser to write up an offer and acceptance and any special conditions which may form part of the contract. These conditions could be a finance clause, structural report, items that remain with the property following settlement etc. The agent will then commence negotiation on price. They should negotiate the best possible offer from the buyer. This will likely involve some ‘back and forth” between the agent and the owners and the agent and the buyers until such time the best purchase price is reached.
    If the owners are happy with the final offer, then all parties sign and initial the offer and acceptance document. Once the purchaser has been informed their offer has been accepted the document becomes a legally binding contract.

  • QWhat happens after the offer has been accepted?
    A

    The agent will assist both the owners and the purchasers to ensure all conditions are met. If the offer is subject to finance, the purchaser will need to lodge all necessary paperwork with their broker or bank to allow them to assess the application to borrow the money to buy the house. During this period the property is officially under offer and generally another offer cannot be accepted, and the house is no longer on the market. An “under offer” sticker is placed on the signboard. It is a t this time that a settlement agent needs to be engaged by the sellers. The agent should be able to assist in recommending one for you. Once the finance has been approved the house is sold and moves to the settlement period.

  • QWhat’s the next step once finance has been approved?
    A

    Once finance is approved a “sold” sticker is placed on the signboard, (generally a happy time), and the owners can then prepare to move. Other conditions may need to be satisfied, such as a building inspection or pest control inspection. Once these have been completed the next step is the pre-settlement inspection. This is when the buyers, sellers and agent meet at the house and check that all those things that should be working, are working. This includes such things as lights, air conditioning, oven, hotplates, reticulation, hot water system to name just a few. If there any items that require fixing as part of the contract conditions, then it is the owners responsibility to have them rectified prior to settlement.

  • QWhat’s the last part of the selling process involve?
    A

    As the owner, it is time to prepare the big move. You may need to engage a removalist to assist so book them early. Make sure that you still look after the home and ensure that is cleaned properly prior to you vacating. Inform the utility services that you are moving eg. gas, electric, telephone, internet provider etc.
    Your settlement agent will also be doing their job in preparation for settlement.
    Once the property has settled the buyer can have access to the house as long as you have moved out. You are permitted to be in property until the latest, 12pm the day following settlement. This allows you to move and clean that day if necessary. Its now time to start celebrating!

  • QWhere do I start with the selling process?
    A

    Appointing a highly skilled, competent Real Estate Agent with a successful selling history, is crucial to ensure the best outcome can be achieved for your home. The agent who you employ to represent you is such an important decision for a seller as agents abilities can vary substantially. Focusing on the information provided, actual role and case studies demonstrated by the agent ensures a seller has all the necessary information to make an informed decision around appointing an agent.

    The team at Bailey Devine Real Estate welcome the opportunity to come to your home and provide you with a professional, complimentary evaluation.

  • QWhat happens after we decide to start the selling process?
    A

    Once you have decided on the best agent and agency to represent you to sell your property a Selling Agency Agreement must be signed by all parties on the title.
    This is a legally binding document that will allow the agency to act on your behalf. The selling agency agreement will outline the costs associated with selling the property, including the selling fee and marketing costs payable.
    The selling fee is generally a percentage of the eventual selling price of the home and the marketing is a real cost associated with all the advertising components when the property hits the market.
    The marketing costs include professional photography, sign board and the placement of the property on the major real estate portals realestate.com, reiwa.com and domain.com

  • QWhat does a conveyancing / settlement agent do?
    A

    Your conveyancer / settlement agent is in charge of the legal process of transferring the ownership of the property and money. They make sure that everything is legally correct as the property transfers from one owner to another.

  • QWhat does settlement mean?
    A

    Settlement refers to the actual date ownership is transferred from the previous owner to the purchaser.

    This is generally the day that you provide vacant possession of the property and the keys are provided to the buyer of your property. However, if this was your primary place of residence, you are entitled to remain in the property until the following day at 12:00. This is the day to start celebrating and pop the champagne!

  • QIf my property is leased can I sell it?
    A

    You are well within your rights to sell the property whilst it is currently leased, however it is crucial that any potential buyer is advised that there is currently a lease in place. This must be included as a special condition to any offer & acceptance. The buyer must be fully aware that the property will not be sold with vacant possession.
    The tenant has the right to continue to occupy the property until the end of the lease agreement. However if all parties negotiate and agree they may terminate the existing lease agreement. Having tenants in a property that take great care, and are reliable may appeal to prospective investors.

  • QWhat does an exclusive listing agreement mean?
    A

    An exclusive listing is where you have provided only the one agency the rights to sell your property. If the property is sold during the fixed timeframe of the agreement the agent is then entitled to be paid a commission. Exclusive listings are most commonly used when selling residential properties.

  • QWhen is the best time to sell?
    A

    Real Estate sales is an all year round business. People buy and sell houses for all different reasons, they might get married, divorced, deceased, have babies, wanting to move closer to the school, workplace transfer or moving from overstate. No matter what time of the year, people are in the Real Estate market as dictated by their personal circumstances. A well presented home looks good no matter what season we are in. As everyone’s personal and financial situation is different we say, the best time to sell your property is when it suits you. Don’t worry about the small factors or seasons, there are always buyers ready to buy.

Seller’s Tips

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Making the decision to place your home on the market to sell can be a very emotional and stressful decision. When the decision to sell your home is made, price and presentation are critical in attracting interest, creating competition, and therefore ensuring the best price can be achieved. A buyer is looking for a home, not a house, so dress up your home for success and make it the most appealing on the market. The condition of your home will have a huge impact on how fast it sells, and its eventual selling price.

You only have one chance to make an enticing first impression, so the street appeal of your home is crucial!

It’s the little things that make the BIG difference

By following these fix up tips, you can do a lot to increase the perceived value of your home and attract potential buyers.

Indoors

  • Clean the entire home thoroughly – shampoo carpets, wash walls, clean window sills, screens and blinds. Clean light fixtures, dust shelving
  • Make cupboards look bigger by making them neat and well organised
  • Patch any nail and screw holes in the walls
  • Ensure your home is cool in summer and warm in winter
  • Store away your personal effects and clear the clutter from day to day living to present a minimalist and welcoming feel
  • Ensure that all light globes and fittings are in working order
  • Keep curtains and blinds open as a rule. You want your home to be very light and bright. Find ways to screen any unappealing views
  • Make your kitchen shine. Remove clutter from counter tops and cabinets and store it. Keep your sink clean and clear of any dishes
  • Remove unnecessary clutter from fridge door, such as fridge magnets
  • Clean your oven, de-grease it and keep it looking as good as possible
  • Bright and clean bathrooms are a huge selling key. Clean mirrors and bench tops, coordinate towels and mats
  • Cigarette smoke, animal and food smells and other unpleasant odours will remain in the buyer’s memory well after the inspection. Make sure the house smells pleasant
  • Keep walkways clear and tidy for safety reasons

Indoors

  • An inviting exterior ensures inspection of the interior
  • Clean up all around the house. Remove any debris piles such as wood, bikes and toys
  • Put some colour by the entrance or front door with pots full of bright and attractive plants. The pots can move with you to your new home. Keep them watered and healthy
  • Keep walkways clear, clean and in good repair. This includes your driveway and any parking areas
  • Keep all outdoor furniture clean and in good condition
  • Remove any spider webs
  • Trim all hedges, bushes and shrubs away from the house
  • Mulch your garden beds – it’s amazing the difference this can make
  • Keep your lawn and areas clean and in good health. A green lawn makes a home look great. Keep your lawn edged and free from weeds
  • Repair any broken windows, screens, shutters and awnings
  • Clean the garage area. Remove clutter and make it look as organised and spacious as possible
  • While we love our pets, many buyers may not feel comfortable around animals, so keep pets safe and out of the way during home opens and inspections, if possible

Step back and look at your home. Pretend to be a potential buyer. What do you want to see? What do you not want to see? Perhaps you might consider a garage sale before you sell.

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