So, you’ve found a great real estate agent, they’ve listed your property on the market as effectively as possible, and now you’re receiving buyer interest – you’ve almost sold your home! However, this is potentially the most important stage of your sales process, as this is the time for you to make decisions that will achieve the best results. Thankfully, your real estate agent will be able to guide you through this process so you can move forward with peace of mind.
This final stage may include…
- Regular open days – as well as buyer-specific inspections, open days can help to trigger further buyer interest and introduce the property to a wider market pool. As the homeowner, this is your chance to make sure your property is looking its best in preparation for these scheduled open homes.
- Receiving interest from buyers – your real estate agent will use their knowledge and experience to cement interest from potential buyers and engage them in further conversations, encouraging their interest as they move towards making an offer.
- Receiving an offer – you may receive one or multiple offers on the property at the same time. This is your chance to push hard for the sales results you’d like to see achieved. Communication with your agent, who will be best positioned to negotiate hard with buyers on your behalf, enables this process to continue smoothly, even when emotions come into play as offers sit on the table. Your agent will work to increase this offer from the buyer and look towards achieving a result that both parties are happy about.
- The final decision – has an offer come in that you feel ready to go ahead with? This is your final opportunity to make sure you’re comfortable with the potential results you’re about to accept, and it may also be time to begin saying goodbye to your home in preparation for the sale to close.
- Confirmation of sale – sales contracts can have different stipulations within them, so depending on the contract terms, there may be a window following signature by both parties that needs to expire before the contract is final. Should the property be offered for sale via private treaty, the buyer pays an initial 0.25% deposit amount of the sale price, which takes the property into a standard 5-day cooling-off period which gives buyers the time they need to carry out building/pest inspections and organise finances. Before the cooling-off expires, the remaining balance of the deposit (an agreed deposit amount amongst both parties, which is most commonly 10%) must be paid in order for the sale to become unconditional. Once those two stages are complete, the sale is now complete and both parties are now awaiting settlement on your property.
By this time, you’ll be ready to pop open the champagne and give yourself a well-earned pat on the back for stepping through the sales process and achieving a strong result. Your real estate agent will have been with you through every step of the journey, ensuring a positive outcome. Perhaps you’ll find that your relationship doesn’t end there – you may use their services to pick up your next family home! Wherever your next stage takes you, understanding the sales process from beginning to end will empower you to make decisions for your family that lead to a happy, healthy and enjoyable home environment.
Andrew Diadyk is a Licensed Real Estate Agent covering Ingleburn and Macarthur’s real estate markets. Passionate about building strong long-term relationships and achieving outstanding results for his clients, Andrew is the partner you need when embarking on the sale of your home.