When it comes to Buying or Selling Property there is no such thing as a silly question. 

Haven't answered your question? Drop us a line or call - We're happy to help!

• Can I come to the building and pest inspection?
• Can I just use my own photos?
• Can I make a verbal offer?
• Can I sell my house by myself?
• Can I sell my property while it is currently leased?
• Do I have to have open homes?
• How long should it take to sell my house?
• How much deposit do I need to pay?
• Once I have a contract how long do I have to move out?
• What if I change my mind?
• What is an exclusive listing?
• What is the agent’s role at an open house?
• Why do I need a solicitor?
• Why is it important to declutter?
• Why should I be out during an open house?

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  Can I come to the building and pest inspection?

• Yes you can, in fact we recommend it.

  You will be able to appoint an independent inspector of your choice, they will be able to point out any matters around the property to pay attention to while doing routine maintenance or which may need future attention.

  It’s always better to see those items with your own eyes so you can take the best care of your property well into the future.

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  Can I just use my own photos?

• In this age of high tech digital marketing you have little more than a couple of seconds to engage the buyer before they move on to the next listing.

  Dark, grainy, cluttered or poorly composed photos are the quickest way to cause people to click right past you. But don’t worry Professional Photography is not an additional cost for you.

  We know that it is such a critical part of the marketing we include 10 professional images in our professional marketing package – it’s all included when you list with us!

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  Can I make a verbal offer?

• Agents are obliged to convey all offers to a seller, but verbal offers tend to carry very little weight as they are not perceived as a genuine intention to purchase the property.  

  Most sellers want to see the offer in writing including the amount of deposit, terms and conditions such as finance and building and pest inspection, settlement date or any other special conditions.  Agents have a legal obligation to convey all offers to their seller, but a verbal offer may be brushed off as not being a genuine intention to purchase the property.

  Your offer is not referred to as a contract until the sale price, deposit and all terms and conditions have been agreed to by all parties and the contract has been signed and returned to you.  

  A seller may accept a better offer right up to the point where the signed document has been completed and a copy sent to you or your solicitor.

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  Can I sell my house by myself?

• You can choose to sell the property without engaging a real estate agent. However, it makes sense to appoint an expert in their field, especially when it comes to wanting the best possible outcome when selling your property.

  An experienced agent will bring their expertise in not only the marketing of your property, but also in negotiating and ultimately selling it.

  You’ll find that most buyers prefer not to deal with the owner of a property directly and if they do, they will expect to see a price reduction, knowing that you are not paying for an agent.

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  Can I sell my property while it is currently leased?

• Yes, you can. There are, however, protocols to follow in these circumstances.

  Any potential purchasers must be told there is a current lease on the property. This can, in some instances actually be appealing to potential investors, knowing they have a solid lease in place.

  The tenant has the right to occupy the premises until the end of the lease term, unless both parties are able to come to an agreement to terminate early.

  The tenant also needs to be advised of every inspection with 24 hours written notice.

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  Do I have to have open homes?

• That’s entirely up to you.

  It can be a great time management tool so that you are able to have the house looking it’s best just once rather than being at the beck and call of the buyers. A well attended open home also lets potential buyers know that they are in competition and if they want to buy your property they will need to make a decision and make a quality offer.

  Many buyers today like to attend multiple open homes in one sitting rather than having to make individual appointments. However they don’t suit all properties or all sellers. It’s your decision.

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  How long should it take to sell my house?

• Once your home is placed on the market, the length of time to sell your property depends on a number of factors.

  Price, location, demand, the quality of the marketing, current financial affairs nationally and locally to name a few. A good agent will assess these circumstances and give you an informed estimate tailored to each individual property.

  A good indication is knowing the approximate number of days of properties similar to yours have taken to sell.

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  How much deposit do I need to pay?

• Many buyers are concerned that they need the deposit in their bank account to have the finance approved, and are reticent to offer it as a deposit on the contract.  

  Your lender will take into account the difference between your contract price and the deposit you have paid. As a minimum most agents will expect you to pay the equivalent of the penalty for withdrawing from a contract during the cooling off period which is .25% of the purchase price.

  As a show of ‘good faith’ offer at least that amount at the time of signing the contract with a balance of 5% upon becoming unconditional. This will show your seller you are serious, and if for any reason the contract is unsuccessful your deposit will be refunded.

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  Once I have a contract how long do I have to move out?

• Generally speaking it takes 14 – 21 days for most contracts to become unconditional – settlement is usually a further 14-21 days unless agreed otherwise by both parties.

  The most common conditions imposed in a contract are being subject to a satisfactory building and pest inspection and to finance approval.

  Other common conditions are conducting satisfactory council searches for all building approvals or the settlement of another property sale. Speak to your solicitor about what conditions they may recommend to suit your circumstances.

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  What if I change my mind?

• A buyer can withdraw for a contract within 5 working days of having received their signed copy of the contract without giving any reason.

  This is called exercising the cooling off period. Cancelling a contract under these terms attracts a penalty of .25% of the purchase price.

  If your contract is unsuccessful because of an unsatisfactory building and pest inspection, a failed finance application or failure to meet any other special condition your deposit will be refunded in full.

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  What is an exclusive listing?

• An exclusive agency agreement means you only give one agent the rights to list and sell your property.

  If the property is sold during the fixed term agreement, the agent is still entitled to a commission, even if you or another agent is responsible for the sale.

  It is common practice to sign an exclusive agency agreement, ensuring a more personalised service and dedication from the agent. Most agents are happy to ‘conjunct’ or split the commission with another agent who may have a buyer for your property

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  What is the agent’s role at an open house?

• Opening a property for inspection at a specified time gives the agent the opportunity to listen closely and observe the potential buyers giving them a chance to determine if the purchasers are likely to proceed or not.

  It also allows buyers to inspect the property at their own leisure, without pressure to talk about it. A good agent will be sensitive as to how the people are engaging, enabling them to create conversation at appropriate moments.

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  Why do I need a solicitor?

• A solicitor or conveyancer will see to all of the necessary paperwork and processes required to transfer the property from the current to the new owner's names.

  While you are allowed to do your own conveyancing, it is not only confusing but potentially costly to handle this yourself unless you have a great deal of experience with handling legal matters. Some legal firms specialise in conveyancing and offer cost effective solutions.

  Some of the maters they attend to are:

  Contract preparation and review

  Title / Ownership Searches

  Easement and Council Approvals

  Reviewing special conditions such as finance and building and pest inspections

  Delivering / receiving settlement cheques

  Calculating stamp duties

  Distributing funds for settlement from their Trust Account

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  Why is it important to declutter?

• First impressions count.

  By decluttering, it not only creates more space, making the home appear larger and lighter it also allows the buyer to imagine their own belongings in the property, giving them a sense of belonging.

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  Why should I be out during an open house?

• It is important for potential buyers to picture themselves at home.

  This would be made difficult if the owner was to be in attendance as people may feel as though they are intruding. It also gives them freedom to chat amongst themselves while onsite.

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