A guide to selling your home

Are you considering selling your home? Whether you're upsizing, downsizing, or simply relocating, selling a home is a significant financial and emotional decision. If you’re selling your first home, there can be added stress because it’s a process that you’ve not been through before.

To help you navigate the selling process smoothly, let's delve into our guide for selling your home. We’ve covered everything from the preparation to the costs that are involved – plus, the pros and cons of selling before buying, and vice versa.  

Preparing to sell

Once you make the decision to put your property on the market, it’s a good idea to roll up your sleeves and do some work on it. It may seem pointless as you won’t benefit from any improvements you make, but first impressions matter, and that new lick of paint could earn you some extra buyer offers!

Enhance your home's curb appeal by tidying up the exterior, mowing the lawn, weeding, and cleaning the windows. Attend to any necessary repairs and consider minor updates to increase the overall appeal of your home. On the inside, do a deep clean and declutter. Having a clear out can make your home appear more spacious and inviting, and by removing personal items you’ll allow potential buyers to picture themselves living in the space.

The sale process

First up, you’ll need to find a real estate agent (realtor) to work with. Do your research and listen out for recommendations from people who have recently gone through the sales process. Look for an agent who has local market experience and a positive track record of successful sales. A good agent should be able to guide you through the selling process, from pricing your home to negotiating the offers you receive.

Pricing your property correctly is obviously very important. You’ll need to work with your agent to determine the optimal listing price based on local market trends, comparable sales, and the condition of your home. For property insights and sales data, you may find our free property report useful – download one today. And remember, pricing your home competitively will be key for attracting potential buyers but you will also likely have a ‘goal’ sale price in mind, so be sure to discuss that with your agent too.

Your agent will create a marketing strategy to promote your home which will include online listings, signage, and print advertising. Then there will be the home open and viewings, so you’ll need to prepare for them. Hopefully your earlier preparation makes this a breeze, but you should make sure your property is looking its best.

When offers start coming in from potential buyers, your agent will help you evaluate each one. You should not only consider the offer price but also the proposed closing timeline, any conditions and the buyer’s situation before accepting.

Once you do accept an offer, the buyer may conduct inspections and will finalise their financing. It’s at this stage that you should hire a conveyancer (if you haven’t already). A conveyancer will help you complete all the required legal documents including the Contract of Sale and represent you in dealings with the buyer, when necessary. 

Once all the legal and financial requirements are met and you’ve signed all the required documentation the sale will be finalised. All that remains is for you to vacate the property and hand over the keys to the new owner.

The costs involved with selling

When selling your home, you need to be aware of the costs that will be involved throughout the process. Here are just some that you need to bear in mind:

• Realtor commission
• Home repairs and updates
• Marketing and staging costs
• Conveyancer/solicitor fees
• Mortgage discharge fees
• Moving costs.

To sell or to buy first?

Whether you should buy or sell first is a common conundrum – and it usually comes down to your financial situation. There are pros and cons for doing both, take a look:

A bridging home loan can help you move ahead and negotiate a new home purchase before selling your existing property. For short-term home financing, we can help.

Selling a property can be a complex process, but with careful preparation, the right guidance, and the support of knowledgeable professionals, you can successfully navigate the journey and achieve a sale. If you're ready to think about financing your next property purchase, get in touch with our team of home loan specialists. They’re standing by to help you reach your property goals.