The information presented in this page is of a general nature only. It does not take into account your individual circumstances.
- Present the property to the best of its ability and make it appealing to prospective purchasers.
- Maximise natural light within the property. Placing mirrors at strategic locations can help.
- Mow the lawn and make it look tidy.
- Place a few plants in the garden to make the property look lively and pleasant to the eye.
- Keep the house in a clean and tidy condition.
- Eliminate offensive and other strong odours by opening windows and letting fresh air in. You could also use air freshener spray or other means.
- If necessary, apply a fresh coat of paint to interior and exterior walls.
- Discuss and communicate your reserve price (for auctions) or asking price (for private sale) to your estate agent.
- If your marketing budget allows, you can engage the services of a home stylist to make your property look more appealing. They can provide furniture, bedding, artwork and accessories for hire for the duration of the marketing campaign.
- Engage a professional photographer so that the property can be presented in an optimum fashion and therefore enhancing its appeal with prospect purchasers.
- Advertise your property at popular real estate portals and various mediums to gain exposure.
- The team at iProperty Melbourne can coordinate with the photographer, interior stylist and tradespeople to make your sale a success.
- Having a real estate agent with extensive database contacts is handy.
- Store valuables in a safe place prior to any open for inspections.
- Engage the services of a solicitor or conveyancer to prepare the contract of sale and vendor’s disclosure statement (section 32) documents.
- Give clear written instructions to the estate agent listing items not included in the sale.
Property sales methods
- Private treaty. Prospect purchasers are invited to make offers to the vendor. The purchaser then negotiates price and terms with the vendor through the estate agent as facilitator. It is hoped a mutually agreed sale price and terms can be achieved. When a prospective purchaser makes a written offer, they will be asked to place a deposit or a partial amount, with the remainder to be paid at a date set out in the contract of sale. The deposit amount is usually 10% of the purchase price and it will be held in the trust account of the vendor’s solicitor/conveyancer. If the vendor accepts the offer then the deposit will form part of the payment to the vendor on the settlement date. If the vendor rejects the purchaser’s initial offer, the vendor can present a counter offer to the purchaser. If the vendor and purchaser fail to reach agreement on price and terms and do not wish to negotiate further, the deposit will be returned to the purchaser.
- Auction. Several purchasers will attend on auction day and place competing bids to secure the property. The property will be offered to the highest bidder, at the seller’s discretion. If a property is sold at an auction the buyer cannot place conditions on that particular sale.
- Please note: there is no legally binding contract until both buyer and seller have signed the contract of sale.
- Settlement is the event when ownership of a property passes from the vendor to the purchaser and the balance of the purchase price is paid to the vendor. This meeting is usually attended by solicitors/conveyancers from the purchaser and vendor and (if applicable) a representative from the lender or bank if there is a mortgage involved in the transaction.
Please contact any of the iProperty Melbourne team member to discuss further.
The information presented here has been sourced and adapted from Consumer Affairs Victoria website.