Property Appraisal and Listing Presentation
To help you make an informed decision about selling your property, the first step is to meet for an 'appraisal.' This is essentially a meeting, usually in your home, where we discuss the following together:
- The present market condition and the recent sales in your area
- The estimated worth of your property and an appropriate price point
- Which marketing strategy will best suit you and your home, including method of sale, advertising options and aschedule for inspections and open homes
- Property presentation advice and professional photography options
- Commission or fee of service and legal requirements to move forward
Engaging your agent and listing the home
Once you have decided to entrust us with the sale of your property, we will ask you to formally sign an agreement between you, the home owner and New Wave Property, giving us the authority to represent you.
This agreement is a standard REINSW form which will have all the points we have discussed signed off on, for example the term of agreement, the advertised sales price, a marketing schedule and the commission.
We will then contact your Solicitor, on your behalf, to arrange for them to prepare a contract for sale. It can sometimes take a week or two for them to get documents they need from council that are required by law to include in the contract. We cannot commence marketing your property until we have received the contract from the solicitor. However while we are waiting, there are still things to do to prepare the property for market..
Presenting the home and going to market
It is important to present the home at its best (refer to our article 'Presenting the Home' for some advice on how to do this).
When you feel you and your home are ready for advertising, we will then book the professional photographer. They will take a large number of photographs, some by drone if it is appropriate, and will also prepare the floorplan. From these images, we will help you select the ones that present the property in the best way to be included in the marketing campaign.
We will prepare the text for the marketing material and the Internet advertising which, if you wish, you can proofread and approve prior to going to market. Some vendors like to arrange a building and pest inspection at this stage to provide to prospective purchasers. This is not a legal requirement, but it can help to give buyers confidence and removes one step in the buyers’ progress towards exchange of contracts.
As soon as we have received the sales contract from your Solicitor we will:
- Contact all prospective buyers in our database to advise them of the opportunity
- Have the signboard installed (if required)
- Set your property to go live on the internet websites
- Print all brochures and any marketing material
- Prepare your home for scheduled appointments or open homes, as discussed
Completion of the sale
When we have negotiated an agreeable price with the right buyer and you accept that offer, your property is now considered 'Under Offer' and we are then on track to completing your sale. The steps to completion are:
- Sales instructions will be issued to your solicitor. This document includes the sale price and the terms agreed upon. Solicitors can then commence preparations towards an exchange of contracts
- The sales instructions will also be sent to the purchaser’s financial contact so they can commence their work towards securing final finance for the purchasers
- The purchasers’ bank may require a valuation, which we will arrange
- We will also arrange a building and pest inspection, if required
- The agreed deposit will be held in the solicitor’s trust account until settlement
This may sound like a lot but we will organise it all for you, keep it moving as quickly as we can and will keep you informed every step of the way as we go through the process. Once the finance has been unconditionally approved and the contracts have been signed by both parties, the solicitors will execute the Exchange of Contracts. The property sale is now under a binding contract of sale. This is where you can enjoy the fun part of putting up the sold sticker and celebrating!
Settlement of Sale
At Exchange of Contracts your solicitor will let you know when the settlement date will be. Please make sure you securely provide your solicitor with your correct bank details prior to settlement.
The buyer can book a pre-settlement inspection on the morning of settlement, where they can check that the home has been left clean and tidy, that goods listed on the contract are still there and that appliances still work. Please leave the home in a clean and tidy condition, just as you would expect if you were moving in, and make sure that we have any remaining keys and remotes. Once the buyer is satisfied they will instruct their solicitor to complete the settlement.
The solicitor will inform us once the settlement is finalised then we can hand the buyer the key and remotes. Your solicitor will arrange for your settlement funds to be released into your nominated bank account.
Throughtout the whole sales process, you can rest assured that we will be there for you every step of the way and you will feel informed and supported throughout the journey.