Whether you’re downsizing, upgrading, or simply in need of a change of scenery, there are a number of reasons you might be looking to sell your home.
From starting the sale process to accepting an offer, we help simplify your home-selling journey by connecting you to the right services at the right time.
As a property owner, deciding to sell is the biggest step in the process. Once you've made the decision, there’s plenty of work to be done.
First, take a look at any minor home improvements you could make to increase the value and appeal of your property. A property valuation (a detailed inspection and report of the value of your home) can shed light on potential improvements you can make.
You’ll then need to get to know the local market and investigate the right time to sell. This is something your real estate agent can help with, as well as listing your property for private sale or auction.
Lastly, you’ll need to consider your budget. It’s important to understand the fees and other costs involved in selling your home, such as home repairs or renovations, real estate fees, home staging, photography and advertising, auction fees, conveyancing or legal fees and moving costs. If you’re downsizing, you may also need to factor in costs for decluttering.
When selling your home, be mindful of:
Organising a property valuation before listing your property can help you determine your asking price. During the valuation process, be sure to highlight any previous improvements you've made to your house, as well as any specific items you’d like to keep.
To understand the value of your property you can get a property report estimate, or arrange for a paid property Valuer. A conveyancer will ensure that the final selling conditions are reflected in the contract.
The value of your property is determined by a number of factors including:
Once you've accepted an offer on your property, your real estate agent and conveyancer will help you prepare for the buyer’s building inspection, negotiate the contract and finalise settlement.
This involves negotiating the final sale price and any conditions that need to be included before signing and exchanging the agreed contract with the buyer. Arrange a conveyancer to help with this.
Once the buyer signs the contract (regardless of when you sign it), they’re given 3 clear business days to change their mind.
If the property is bought at auction, or is sold less than 3 full business days before an auction, there’s no cooling off period.
This is usually 30 - 90 days and in some cases, can be negotiated with the buyer. On settlement day, your conveyancer works with the buyer’s representatives to adjust any outgoing property costs (such as rates), before signing the final documents and transferring ownership of the property. At this point, the sale is complete.
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When starting the process of buying a house, it’s best to talk to a bank lender, building society or mortgage broker. These professionals can help you determine how much you can afford to borrow for your home loan.
Once you have an idea of your budget, it’s time to start researching property types and areas that suit your lifestyle or intended purpose for the property. For example, if you’re looking for an investment property to rent out, you might consider purchasing a property in a highly sought-after area that is likely to increase in value over time.
When you’re ready to make an offer, working with a conveyancer to complete settlement and ensure all legal obligations are met will make the property-buying process easier.
While planning, researching and finding the right property for you can take as long as you want it to, the settlement process once an offer has been made can generally take between one to four months. During this time, your conveyancer will help you through signing contracts, transferring ownership of the property and making final payments.
Associated costs include:
Costs will vary depending on the companies you choose to work with during the sale process.
You’re not obligated to seek the services of a conveyancer, but they can help take a lot of the guess work and confusion out of the selling process. A professional conveyancer helps you through the settlement process by handling your contract and the transfer of the property title. They make sure you’re meeting all legal obligations, and ensure any required conditions are included in the contract.
It’s always a good idea to arrange a building and pest inspection before selling a property so you’re aware of any potential problems that could affect your asking price.
While you may not wish to complete any repairs or improvements ahead of sale, existing damage and faults may impact your property valuation and potentially deter buyers from making an offer.
Renovations and home improvements can increase the value and overall appeal of your property, but it’s best to discuss potential home improvements with your real estate agent to determine if the renovations you plan to complete are likely to give you a return on your investment..
The offer is redeemable for conveyancing services related to selling or buying a residential property. It is not redeemable for contract reviews. The offer is redeemable once per conveyancing service and cannot be combined with any other discount. Offer cannot be transferred or redeemed on behalf of any other person. Available to current RACV Members. Online bookings only.
Must quote RACV Membership number at the time of booking and collection. 15% discount applies on daily rental rates at SIXT Australia and New Zealand locations only and cannot be used in conjunction with any other promotion, special offer or coupon. For full auto club terms and conditions please visit https://www.sixt.com.au/auto-clubs/#/. All rentals with SIXT are subject to Rental terms and conditions. https://www.sixt.com.au/terms-conditions/#/
The information provided is general advice only. Before making any decisions please consider your own circumstances and the Product Disclosure Statement and Target Market Determinations. For copies, visit racv.com.au. As distributor, RACV Insurance Services Pty Ltd AFS Licence No. 230039 receives commission for each policy sold or renewed. Product(s) issued by Insurance Manufacturers of Australia Pty Ltd ABN 93 004 208 084 AFS Licence No. 227678.
