The Selling Process
+ Step 1: Market Appraisal
The first thing you need to do when selling your property is to get a Current Market Appraisal (CMA). Appraisals take anything from 20 minutes to an hour depending on the size of your property.
Visit the Market Appraisal page to find our more and request your FREE Market Appraisal.
+ Step 2: Listing Your Property
If you decide to go ahead and list your property for sale, Helen will put together a marketing strategy tailored to your individual property. You will need to complete and sign an ‘Agency Agreement’. This is an agreement between you as the Vendor and Helen Hystek Properties. This gives Helen the authority to market and sell your property.
A copy of the agency agreement is then sent to your chosen Solicitor/Conveyancer to prepare the contract. The contract can take up to 10 days although more often it’s a week to prepare. Once we have the contract, we can start marketing your property for sale.
+ Step 3: Marketing
Visit the Marketing page to read more about how we market your property.
+ Step 4: Open Homes and Private Inspections
The marketing of your property will generate enquiries which will come direct to Helen – my mobile and email is on all advertising material so enquiries will come straight to me. I will qualify Buyers before they inspect your property.
Conducting Open Homes is totally up to you. I recommend them but if you decide you would rather have private inspections at times that suit you to be away from your property, then we will do this. Open Homes normally run for half an hour on a Saturday. We hand potential Buyers a brochure of your property when they arrive. Usually on a Saturday afternoon (depending on the interest we have) or on a Monday morning, we follow up with all the Buyers that came to your property. We then give you the feedback, and hopefully an offer! Often negotiations take place over a weekend. Private Inspections are arranged at a time that suits the Buyer, the Agent and you.
+ Step 5: Offer
An Offer is what a Buyer would like to pay for the property.
Normally an offer starts lower than you would like, however it is an Agent’s job to negotiate between the buyer and the vendor to get to a price where you are both happy, this is called ‘Offer of Acceptance’. The negotiating may also include conditions, inclusions and exclusions.
It is commonly known that some of the first offers are often the best offers.
+ Step 6: Offer of Acceptance / Under Contract
Once you have negotiated and agreed to a sale price called ‘Offer of Acceptance’, a ‘Sales Advice’ will be sent to the Buyers and your solicitors informing them an ‘Offer of Acceptance’ has taken place.
An ‘Under Contract’ notification will be put on the advertising of your property to let other potential Buyers know it is still on the market but under contract.
The Buyer normally has around ten days to get their finance sorted, and their building and pest inspections done. Their bank will need to do their own valuation of your property. If the bank valuation matches the sale price or thereabouts, and the Buyers are happy with the building and pest reports, then everyone can proceed to exchange.
Until exchange takes place your property is still on the market and will still be advertised and marketed for sale.
+ Step 7: Exchange
Exchange is when you and the Buyers are happy and ready to proceed with the sale. Both parties sign the contract then the solicitors exchange the contracts and the deposit is paid. A SOLD sign will be put on the advertising. From here you go to settlement.
+ Step 8: Pre-Settlement Inspection
The Buyer can do a “Pre-Settlement Inspection” prior to the settlement of the property. It is usually a quick inspection to see if everything is the same as it was when they inspected the property last time. It is often done the morning of settlement.
+ Step 9: Settlement
Standard settlement timeframes are normally around 42 days from the date of exchange. Before settlement takes place, your solicitors will liaise with the Buyer’s solicitors, organise the change of title and set a settlement time when they will receive the Buyer’s money for your property. This is when the keys are handed to the Buyers. Happy days!