| Selling Tips |
| Buying Tips |
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SELLING YOUR HOME
Selling your home can be a nail biting experience. it's a move most of us only make once or twice in a lifetime and your home is your most valuable asset, so it pays to do your homework and consider all your marketing and sales options.
Most Important is choosing your real estate agent - in order to do this you need to ask the right questions, for example:
- How long has the agent been in the area?
- How many properties have they sold?
- How familiar is the agent with your area?
- How did the agent arrive at the selling price for your property? A sound and realistic strategy in setting your price can increase the odds of obtaining your asking price and getting it sooner.
- What method of sale does the agent propose?
- Can the agent supply you with contacts for testimonials from past clients?
- Does the agent have a marketing plan for your property?
Once you have selected an agent, you will sign an agency agreement. The agreement is a binding contract and should set out:
- The duration of the contract, and how it can be terminated by either party.
- The commission rate and any fees associated with the marketing and sale of the property. It is your right to negotiate the form and length of the agency agreement as well as the fees.
- The estimate of the sale price and the commission rate expressed in dollars.
A residential property cannot be advertised for sale until a Contact of Sale as been prepared. The draft contract should be available for inspection at the agent's office. It is important that you consult your solicitor or conveyancer about preparing the contract to make sure that everything is in order.
Ask your Sapphire Blue agent for presentation tips for the home. For example, the home that is neat and tidy for inspection is more welcoming; and repairs for loose door knobs, peeling paint or faulty fly wire can make a big difference.
Exchange of contracts will take place upon the acceptance of an offer successfully negotiated for you by your agent. Buyers usually have a cooling off period of five working days following the exchange of the contracts during which they can withdraw from the sale - there is no cooling off period for sellers, neither is there when purchasing at auction.
For further details contact The Dept. of Fair Trading on free call 1800 500 330, or visit their web site at http://www.fairtrading.nsw.gov.au.
This information must not be relied on as legal advice. For facts relating to this topic, please refer to the appropriate legislation on the above web site, or contact your solicitor.
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