FREQUENTLY ASKED SALES QUESTIONS
Selling a home in the Dandenong Ranges is quite different to selling in the suburbs. We have quirky things that are common up here and completely foreign downtown.
Included in the FAQ are other topics that are relevant wherever you sell such as Stamp Duty.
Marketing is all the things we use to attract buyers from as broad an area as we can to come and see your home. If we don’t ‘market’ your home then we aren’t attracting the broadest possible audience. It’s like only asking one or two people if they want to buy your home. One may say yes, the other may say no which leaves us with one person to negotiate with. This leaves that one buyer with lots of power and reduces our negotiation capacity.
Staging means that we ‘stage’ your home. We make your home appealing to buyers as stagers use fresh, clean, contemporary furniture and bits and bobs. Your furniture might be great, it might be expensive but it may not be what we need to sell the story of your home to the buyers.
These are strange numbers that real estate agents float around when they are talking to you. They are all sections of the Sale of Land Act, legislation that revolves around – you guessed it – the Sale of Land.
Section 32 is a disclosure document that you must have prepared when you are selling a home and that you must read before you buy a home. It outlines rates, restrictions, covenants, caveats, easements, etc.
Section 27 refers to the Release of Deposit. All deposits go into a Trust Account, either the real estate agencies or solicitors/conveyancers. Usually, the deposit is released/paid out to the Seller once the home has ‘Settled’. However, the Section 27 allows the deposit to be released earlier than Settlement.
Section 31 refers to ‘Cooling Off’ in Victoria (each State and Territory are different). When you buy a home at Auction you don’t get to ‘Cool Off’. When you buy through Private Treaty you have 3 clear business days to change your mind about your purchase. If you do, be prepared to lose part (0.2%) of your deposit to the home seller. Sellers do not get to ‘Cool Off’.
How long will it take to sell your home? It will depend on the current real estate market (buyers, sellers, balanced), the price you put on your home, sometimes your presentation and maintenance. There is no one safe answer to this.
Presentation is a huge factor these days. It’s why agents emphasise decluttering, cleanliness and home staging. Buyers are now used to homes that sparkle. If you home appears dirty (and we all have different housecleaning standards) then buyers wonder how keen you are to sell and possibly, what else have you neglected to fix/repair/maintain if you haven’t even cleaned or decluttered your home before putting it on the market.
Think about it this way. If you came home after an inspection and your cat/dog/ferret was missing how would you feel? If you tell the agent not to let them out and they get out? The agent is not there to cat/dog/ferret sit. They are there to show your home to buyers. Be kind to your animals and take them with you. They will be bewildered by the strangers coming onto their territory and it’s cruel.
When you Settle, the Title of your home is transferred to another person – it’s why they pay you all the money. They are not paying for your stuff that you leave behind. Unless agreed earlier, your stuff is your stuff. Take it with you, throw it out, it cannot be left there once Settlement has happened. You cannot go back and pick it up either. Check your roof space, check under the house, the tops of wardrobes, the shed etc. Your old building materials, paint tins etc are yours. Dispose of them properly, don’t hide them under the house.
The costs of selling a home are generally and not limited to: the agents fees, the marketing, legal document preparation and consultation, removalists, bank costs.
Real estate agents, Solicitors/Conveyancers, building and pest inspectors, removalists, banks/lending institutions, mortgage brokers, insurers, home stylists, gardeners, builders, local council (not an exhaustive list)