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What to look out for when selling property

Selling property can be a daunting experience. There are so many bases to cover and decision to be made to ensure that you sell promptly and for the right price.

1. Spring sale

So when is the best time of year to sell? Switzer regular John McGrath, CEO of McGrath Real Estate Agents believes spring is the best season to sell property.

In my 28 years in property, I still believe spring is the best time to put your home on the market. While better weather won’t make a buyer decide to buy, it does make them more inclined to spend their Saturday mornings checking out homes for sale, and the more buyers at your opens, the more interested parties you will have by auction day.”

McGrath says spring is an “exceptionally” good time of year for suburbs along the coastline.

“Buyers know that if they buy their dream beachside home in September or October, they’ll be moved in and settled come the hotter summer months when they can really enjoy your property with their families and friends. If you have a home like this, make sure you highlight its best features by opening all the blinds and windows to let that warm air and brilliant light through on inspection days.” 

2. Clean and tidy

This goes for selling any property – its presentation is important. Before opening your house for inspection, make sure it is clean and tidy. If it has a nice garden, ensure it looks presentable (cut the grass, do a bit of weeding and so on). If it needs painting here and there, do so.

3. Data watch

Also keep an eye on the Reserve Bank cash rate movements. The Reserve Bank Board meets on the first Tuesday of the month (except January) and generally announces the decision on the cash rate at 2:30pm. Mark these days in your diary. Also watch the monthly data to make an assessment about when to sell your property.

4. Selling privately or through an agent?

There are advantages and disadvantages to selling your property privately or through an agent, including whether you should use an auction process. Ensure you weigh up the pros and cons before deciding.

5. McGrath’s top five questions

McGrath’s top five questions to ask when considering an agent to manage the sale of your home are:

  1. What do you think my property is worth? How have you come up with that figure?
  2. How does my house present? What can I do to maximise the sale price?
  3. What marketing strategy do you suggest? Why?
  4. Why should I hire you?
  5. Do you have a list of recent vendors I can speak to?

Make sure you are happy with the agent before you proceed. You need to be confident that they are doing the best they can for your property.

Always remember to do the research when selling property.

For advice you can trust book a complimentary first appointment with Switzer Financial Services today.

Important information: This content has been prepared without taking account of the objectives, financial situation or needs of any particular individual. It does not constitute formal advice. For this reason, any individual should, before acting, consider the appropriateness of the information, having regard to the individual’s objectives, financial situation and needs and, if necessary, seek appropriate professional advice.

Published on: Wednesday, August 11, 2010

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