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Property Sales

PROPERTY SALES

Buyer’s Guide

If you have considered purchasing a property off the plan, our guide below covers great tips to ensure a smooth purchase.
For more details, please check the ‘off the plan buyer’s guide’

1. Expression of Interest (EOI)

  • $5k Holding deposit to the HOME789 trust account with either a bank cheque or Electronic Funds Transfer (EFT).
  • This deposit only secures you a position in the queue for the launch sale or the issue of a contract to your solicitor for a normal sale.
  • The deposit is fully refundable if the sale does not proceed to contract exchange.

2. Contract Exchanged

  • Meeting your solicitor
  • Contract signing
  • Amendments agreed
  • Contract exchange with cooling off period or without (66w certificate)
  • 10% deposit paid

3. Waiting Period

  • An off-the-plan project usually takes 1-2 years to complete. Please wait until 3 months before the property settlement, and then start the next step. During this period, HOME789 will provide you with quarterly construction updates.
  • An existing property normally takes 42 days to settlement.

4. Prepare Settlement

  • Speak to a banker about your finances
  • Valuation inspection to be arranged by a banker
  • Settlement are booked through your solicitor and banker
  • Pre-settlement inspection will be arranged by HOME789

5. Settlement

  • Once the property is settled, both the vendor’s solicitor and your solicitor will issue a settlement confirmation to HOME789
  • Pick up the settlement package (including keys, manuals etc.) from vendor’s solicitor or HOME789

6. Registering Services

  • Council rates & Water rates: Your solicitor will register for you
  • Strata levy: Contact strata manager/ owner corporation for details
  • Electricity: Please set up your account with your preferred electricity provider. If the property is managed by HOME789, normally our property manager will have tenants set up once a lease is in place
  • Gas: Please set up your account with your preferred gas provider. If the property is managed by HOME789, our property manager will have tenants set up once a lease is in place

Seller’s Guide

Selling a home isn’t quite as simple as sticking up a ‘for sale’ sign and waiting for the buyers to come to you. If you sell it, they may not come. Our selling guide helps you navigate the selling process, on preparing to sell, advertising to generate the most interest, and presenting your property for buyers.

I. Make a decision to sell

Lifestyle changes are often the reason behind our decision to sell. Your decision to sell your property may not coincide with the perfect market conditions. Therefore it is important to know what is happening in the broader market and what is best for your particular situation. Also decide if you are better off buying a new home before or after you sell your current home. Additionally, you should consider your own personal objectives, your ability to finance a new property and meet ongoing repayments and capital gains tax implications for selling an investment property.

II. Choose an agent

Choosing an agent is one of the most important steps towards a successful sale. Your agent will be in charge of advertising, showing and negotiating sales and taking care of the legal aspects.

There are lots of things to consider when choosing a real estate agent to sell your property:

  • Can they display their professional knowledge?
  • Do they listen to your concerns and answer your questions?
  • Can they detail exactly how they will approach selling your property?
  • Will they clearly outline the activities and marketing they will undertake and offer a guarantee of service? 
  • Do they have any comparable previous sales they can show?

III. Property Appraisals

Property appraisal is an estimate of a property’s value. Property value is based on such factors as location, amenities, structural condition and recent sales of similar local properties.

Your agent appraiser conducts the process. The appraiser will do a walk-through of the property, noting anything that can alter the home’s value. For example, if the house has a swimming pool, but swimming pools aren’t popular in the area, it might not add much value to the property-the pool might even detract from it.

IV. Method of sale and selling price

There are three main ways that real estate can be bought and sold, auction, private treaty and sale by tender.

The real estate agent will recommend a method of sale based on the type and location of the property, nature of the market and the seller’s time frame and personal preference. Before deciding on the method of sale, the seller should understand each process and the costs involved. If there is anything you do not understand, ask for clarification or seek legal advice.

V. Agency agreements

You’ll sign an agreement with your agent. This legally binding contract will detail any commissions, the estimated sale price, duration of the agreement, advertising costs, process and in some states a contract for sale should be prepared at this point.

VI. Advertising and showing your property

This generally involves photographing your property, drawing up floor plans and writing your online ads. Prospective buyers will contact your agent and arrange times to view your property, or attend your open homes. 

VII. Sale and negotiation

Your agent will auction your property or mediate between you and buyers to reach a mutually acceptable price. The buyer will then pay a deposit.

VIII. Under contract

Both seller and buyer’s lawyers and banks will work out the details of the sale to ensure both parties meet all legal and financial requirements.

IX. Settlement day

All going to plan, you’ll relinquish the keys and legal rights to your property in exchange for the balance of payment from the buyer or their bank.

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