Selling a property

Selling your property can be an emotional experience. For many it signals a big change and, especially if this is your first sale, it can seem confusing. Our agents will keep you fully informed at all times but, if you are uncertain of anything throughout the process we encourage you to contact your agent.

For Sale: the process

This is the most common course of action for properties at the high end of the market. The environment is usually less competitive and your agent will be in regular contact with the rest of the Ballard Property team to find you a qualified buyer, thus increasing your chances of obtaining the very best price for your property.

Inclusions – when you sell your home you must decide which items will be included or excluded from the sale prior to listing your home. This includes, but is not limited to, things such as:

  • Carpets and flooring
  • Curtains and window treatments
  • Fixtures and fittings
  • Garden sheds
  • Clothes hoists
  • Air conditioning and ceiling fans
  • Alarm systems
  • Flyscreens
  • TV antenna
  • Sprinkler system
  • Pool cleaning equipment
  • Fixed appliances

Offers – your agent will inform you of all offers made on your property. Please be aware that once you have accepted an offer this does not become a sale until:

  • Any and all special conditions have been met
  • The offer has been formally documented and signed by all parties through an exchange of contracts

Exchange of contracts – your agent will check all contracts and present them to both the vendor and purchaser for signatures. Once this has been completed your solicitor will begin the process of conveying ownership from your name to that of the purchaser.

Cooling off period – buyers have a cooling off period of 5 working days after contracts have been exchanged during which they can withdraw from a sale. There is no cooling off period for sellers once contracts have been exchanged. Once this time has passed the contract is legally binding and can move to settlement.

Auction: the process

An auction campaign will usually run for about 5-weeks. The tight timescale helps to create a highly competitive environment. With buyers forced to bid on the day, a successful result is most likely.

Inclusions – when you sell your home through auction you must decide which items will be included or excluded from the sale prior to advertising your home. This includes, but is not limited to, things such as:

  • Carpets and flooring
  • Curtains and window treatments
  • Fixtures and fittings
  • Garden sheds
  • Clothes hoists
  • Air conditioning and ceiling fans
  • Alarm systems
  • Flyscreens
  • TV antenna
  • Sprinkler system
  • Pool cleaning equipment
  • Fixed appliances

Reserve price – your agent will work with you to set a reserve price for the home. This is the lowest amount you are willing to accept for the property. Bidders do not know this price and your agent will negotiate bidding on the day to get the highest price possible.

Sold – when the hammer falls, provided the price reached is in line with or higher than the reserve, the property is sold and contracts are exchanged. There is no cooling off period for sales through auction. The buyer pays a deposit (usually 10%) on the day of auction.

For more information about either process please call our sale team on (02) 9327 7404. We would be more than happy to answer any questions you may have.

 

Selling Your Home