Understanding the Home Selling Process From Start to Finish

Selling your home is a huge milestone, and definitely not the easiest one. It’s far from simple, although many people think that it’s a fairly easy and quick process. But the thing is, the process is made up of many stages that aren't obvious until you're standing in the middle of them. Luckily, you can survive this process by knowing what happens next, what decisions matter, and which bits need a professional. Once you see the whole path, selling a property in Australia becomes much less mysterious. Here's how it generally unfolds.

Start By Figuring Out What You're Actually Selling

You would think that listing photos or open homes are the first steps in the process of selling. But before you do that, you need to take a proper look at the property. When you live in one place for so long, flaws blend in. You need a fresh pair of eyes if you don’t think that there are flaws, because there’s always something to fix or improve.

This is also where you should work out what you're taking with you. Take those away before you let someone in because if you don’t, it can create confusion if buyers assume that those things are staying. Make a list early, and be methodical. 

Get A Realistic Idea Of Your Price

You probably have a number in your head already. Maybe it's based on what your neighbour sold for or what you paid years ago. Unfortunately, your ideal number may not be the realistic one. Buyers are looking at what similar properties are selling for now, what condition yours is in and what they can get for their money elsewhere.

You can start by looking at recent comparable sales rather than just current listings. A property advertised for $900,000 hasn't necessarily sold for $900,000. This is also a good point to speak with a few agents and ask how they reached their suggested price. If you're in the area and starting to look for guidance, you might consider a real estate agent in Northbridge who knows the local market rather than someone far away who only does virtual tours.

Choose How You Want To Sell The Property

Speaking of agents, now comes the part where you truly decide whether you're going to sell privately or use an agent. Selling privately can give you more control. However, that would also mean that you’d be taking on the advertising, buyer enquiries, inspections, negotiation and a fair amount of messaging.

If you use an agent, be wise about it. Ask how they plan to advertise the property, who will conduct inspections, how they'll communicate offers and what happens if the first campaign doesn't work. You want to understand what you're paying for.

Prepare The House 

Once you've chosen your selling method, prepare the property for photographs and inspections. You have to clean and fix things, and ensure that everything looks good in photos. 

If you don’t know where to start, you can clean windows, fix dripping taps, and replace dead garden plants. Your job is mainly to remove distractions and ensure there’s nothing that could affect the buyer’s decision.

Put The Property On The Market

Your agent or chosen selling method will now turn the property into a listing. This usually means photographs, a written description, floor plans and advertising across relevant property platforms. Read the listing carefully before it goes live. 

Once the listing is live, expect a burst of activity. You may receive questions about things you thought were completely obvious. It would be wise to keep useful information nearby.

Compare Offers Without Getting Distracted By The Big Number

When offers start coming in, don't look only at the amount. You should instead pay attention to settlement timing, finance conditions, and deposit arrangements. Research anything attached to the offer.

This is where having someone experienced explain the paperwork can be useful. Ask questions before signing anything you don't understand. You aren't supposed to know what every clause means.

Get Through The Contract And Settlement

Once you've accepted an offer, the sale isn't necessarily finished that afternoon. There are legal and administrative steps still to come. 

Depending on your circumstances and the state or territory you're in, your conveyancer or solicitor will handle important parts of the transaction, including the contract and settlement process. During this stage, keep paying attention to dates. 

Conclusion

Selling a property for the first time is scary at first. But everything is extra scary if you come unprepared. Once you do your research and promise yourself to think through every step thoroughly, you will likely be on your way to signing an excellent deal.