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Things to Consider when Selling Property in Australia

Submitted on: Tue, 28 Jan 2014 05:18:33Views: 211
When someone decides to sell a property, setting the price too high can put off potential buyers and one should be realistic about the expectations. Before determining the price, it is important to consider the current market trends. One should consider what the demand for the property like yours could be in the market. This can be achieved by conducting own research. The following are some ways by which this can be achieved:

• One should look at the prices of similar properties in similar localities. One should check the median house prices.
• One can also hire an independent valuer to determine the value of the property
• One engages a real estate agent to provide an estimated price or price range

Any kind of misinterpretation of the property prices is illegal to the potential buyers. This will include marketing the property at an appropriate selling price that is lower than the agent’s estimated price or the lowest amount that will be accepted by the seller.

What is there included in the sale?

When selling the development property Darwin one will need to decide what will be included in the property when it is sold. These are known as chattels. The appliances that are hardwired in the property- eg: dishwasher, curtains and blinds are all included in the sale. Before putting the property in the market, one should consider what furniture, appliances or personal effects would not be included. The items will be detailed in the contract of sale and excluded from the sale of the property.

Advertising and marketing the property

An indispensable part of the selling process, the advertisement procedure will affect the number of prospects becoming aware of it and being interested in buying it. The information included in the advertising must not be misleading or deceptive. All information passed on orally is best mentioned. If the details are inaccurate, the buyer has the right to withdraw from the contract based on misinterpreted information and take legal action. If you are thinking about advertising the property, few things should be considered:

• Where and costing of the advertisement, for example, online or newspapers?
• Taking proper photos and video footage
• Printing flyers and brochures depicting the property details

If you have hired a real estate agent, it is imperative that one asks them to explain the marketing strategy and to show the sample for this. One needs to be prepared for bearing the upfront costs involved in marketing the property. There are agents that receive a discount when advertising multiple properties all together, and one is within the rights to negotiate with the agent to receive the adjoining benefits from these discounts.

Presenting the property

As with all other things, first impressions always count. Therefore, before taking the images for advertising, or holding open houses, it is a good idea to consider the methods by which one would like to present the property.

It is important to understand that what appears interesting to one may not be the same for others. It is best to have a clear idea about the prospect buyers, like for properties near school will be perfect for those with families. It is important that no other potential buyers are excluded. Few other suggestions to ensure that property is adept for the selling process:

• Finish all the small jobs
• Consider giving the property a fresh coat of paint, preferably light and neutral colors.
• Consider the appearance of the property
• All personal mementos and other clutter should be removed
• Paintings, rugs, flowers and potted plants add a sense of freshness
• Brighten the interiors and exteriors with proper lighting
• The property should be cleaned and tidied
• The weeds should be pruned and the lawn mowed

Open Inspections

The potential buyers need an opportunity to look at the property before making a deal. There are personal items that people don’t appreciate. All valuables should be locked away. Pets should also be taken away.

Usually the hired real estate agent conducts all the open inspections. One can ask them to condition the inspection according to the needs. This will secure the property from theft but not also put off buyers.

Author bio:
To sell a development property Darwin, one needs to hire a real estate agent. Sometimes the prospect seller can hire the services of a lawyer to ensure all documentations are made accurately.

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