There is no ‘right time’ to sell your property, it really comes down to your individual circumstances. Other factors such as economic and market conditions will also always play an important role in timing your sale. Opportunities exist in all markets, provided your agent knows how to position your property effectively.
With hundreds of properties listed on the market, how do you make your listing stand out in the crowd and grab the attention of every possible buyer.
Putting a value on your property can sometimes be difficult when emotions and past expenditure come into play. This is why a professional agent’s opinion is so important.
Auctions are popular in the market at the moment and we suggest you familiarise yourself with the auction process. A standard residential property transaction is known as a Private Treaty sale. This is when you set the price you’d like your house to sell for, and your real estate agent negotiates individually with prospective buyers to achieve a sale as close to this price as possible.
Selling a tenanted property often makes financial sense for investors. Not only do you need to sell at the time that’s right for you in terms of the highest possible sale price, but continuing to receive rental income right up until the property sells can make a huge difference to your bottom line and ensure that you stay on top of investment loan repayments. It’s also appealing to potential investors if a property already has tenants in it.
Don’t know your LMI from your LVR? Can’t quite remember what caveat emptor means but you’re pretty sure Robin Williams banged on about it in Dead Poets Society? Never fear: help is at hand. Without further ado, here is an A to Z of some of the most baffling real estate terminology.