1️⃣ Preparation & Initial Steps
- Determine Your Asking Price: Research comparable sales in your area to set a realistic price.
Tip: Use realestate.com.au/sold to compare local sales. - Choose a Real Estate Agent: Select an agent with experience and a good track record.
Look for: 5+ years local experience, proven sales history. - Prepare the Property: Ensure the property is clean, tidy, and well-maintained, addressing any necessary repairs or renovations.
✅ Fix leaks | ✅ Fresh paint | ✅ Deep clean - Get Paperwork in Order: Obtain necessary documents like title searches, zoning certificates, and any relevant easements.
- Appoint a Solicitor/Conveyancer: Engage a legal professional to handle the legal aspects of the sale, such as the contract of sale and transfer of ownership.
2️⃣ Marketing & Negotiation
- Market Your Property: Advertise the property through online channels, real estate websites, and open house inspections.
Must-do: Home staging, professional photos + 3D virtual tour. - Receive and Consider Offers: Review any offers received and negotiate with potential buyers.
Negotiation tip: Counter in writing with expiry dates. - Accept an Offer: Once you agree on a price, accept the offer and take a deposit.
3️⃣ Finalizing the Sale
- Sign the Contract of Sale: Ensure all parties sign the contract of sale.
- Exchange Contracts: Exchange the signed contract of sale with the buyer, officially binding the agreement.
- Cooling-off Period: The buyer has a cooling-off period to reconsider the sale.
QLD rule: 5 business days (waived for auctions). - Settlement: Finalize the sale at settlement, where the property ownership is transferred to the buyer.
Key Seller Tips
- Disclosures: Ensure you disclose any known defects, safety issues, or alterations to the property.
- Warning and Disclosure Statements: Include any required warning and disclosure statements in the contract of sale.
- Transfer Duty: Understand who is responsible for transfer duty (stamp duty) on the sale.
Paid by buyer (except for business sales). - Financial Planning: Consider any outstanding loans or mortgages on the property and plan for settling the sale.
- Legal Advice: Seek legal advice from a solicitor or conveyancer throughout the process to ensure compliance and protect your interests.