Selling a home or a land? The Ultimate Private Seller checklist

The first step is about determining what the asking price will be for your property and what your minimum price is. There is a choice to display or not display a price. You may wish to have 'Expressions of Interest' or in fact have a price range i.e. $620,000 - $660,000 (keep your price range between a 10% margin). There are several ways to find out a fair asking price for your property, including a comparable sales and market report (which we can help with - get in touch to get your appraisal!). A price that's too high will reduce interest in your property, but one that's too low will cost you that extra money.

• Research your local area and look for similar properties to yours.

  Other comparable properties selling at the same time as yours are your competition.

• Inspect other homes that have an Open Inspection

  Look closely at the condition of the home and how it has been presented. Make a mental note of the things you like. If you can, see how buyers are responding.

• Know what makes your home 'Stand-out'

  Knowing the benefits (especially compared to other homes) will give you confidence for your price-setting. However, don't fall into the trap of 'thinking' your home is better, as your impression may be different to others'.

• Calculate your costs

  There are many costs associated with a property: original price + stamp duty you paid + any renovation costs + any recent repairs + your advertising costs + any legal work. Once calculated, you will have a better idea of the minimum you will accept.

• Set Your Price

  Now that you have added up all the costs, compared your property to others on the market, and you know the benefits of your property, this helps towards setting the right price for you to sell within a reasonable time.

It is strongly recommended that you engage a solicitor or conveyancer to handle the legal documentation required. In most states, there are two key legal documents required in the selling of a property.

• A Vendor Statement

  The Vendor Statement contains information relevant to the property and must be provided to the buyer before the contract is signed. It includes info on the vendor, title, recent building permits, mortgages, planning and zoning, outgoings, access, and services. A legal representative will be able to prepare this completely and accurately, so you don't need to.

• The Contract of Sale

  The contract of sale is signed by both parties, and is a legally binding document with information on both parties, the sale price, any conditions of the contract, the settlement date, etc.

• Offer & Acceptance Form - applicable in some states

  This is a simple form detailing the two parties' details - The Owner/Vendor and the Buyer. It will have a date for the accepted settlement, the amount offered and the amount for a deposit. This form is NOT to be signed by the owner, just the buyer, and you then take this form to your solicitor or conveyancer and they will handle it from there.

First impressions count, so when prospective buyers visit your property, what they see first will leave a lasting impression. If you don't have the time, then hire a handy/maintenance person. Follow these steps to ensure your home is 'inspection-ready'.

• Clear away and clean up the front yard

  Clear away all clutter, rubbish, children's toys, garden hoses, etc. that may be visible when entering the property. Make sure rubbish bins are empty and clean and there are no bad smells. Pressure clean any concrete or driveways.

• De-clutter and remove any personal items, family pictures, etc.

  Less is better when presenting a home. Clear away any clutter that may be on benchtops, tabletops, bookcases, etc. Put away remote controls, cables, etc. Ensure there are no clothes on the floor, rubbish in bins, or anything that gives the appearance of clutter. Put away clocks, books, etc. on bedside tables, desks, benches. Tidy up bookcases, cd racks, etc.

• Trim, tidy and beautify the garden

  Lawns, gardens, trees, shrubs should be trimmed and tidy. Plant simple colourful flowers that are in season; this really brightens up the outside of your home giving it a pleasant appeal. Tie up the dog.

• Ensure everything is in good working order

  Gates, fences, taps, switches, lightbulbs, toilet flushes, ducted heating covers, etc. should be in good repair. No dripping taps, squeaky hinges, or loose palings and bricks. Guttering and down-pipes should all be clear and in good repair. It may be raining on the day of an inspection!

• Consider the exterior and entrance of the residence

  Have the outside of the house cleaned or painted, if needed. Even though this is a cost, it will pay dividends with potential buyers. Also, every window should sparkle! Replace your welcome mat or remove it. Remember, first impressions count!

• Remember the Garage

  A clean and tidy garage looks much bigger.

• Remove or replace excess Furniture

  You may need to buy new furniture, or alternatively hire it for photos and open inspection times. Alternatively, cover very old furniture with a nice 'throw' and/or cushions. Cushions can be expensive so go to a second hand/op-shop store to buy some, then put on new covers.

• Utilise Storage areas

  Take this opportunity to clear away unwanted items. Stack and tidy any remaining items.

• Don't forget the kitchen

  The kitchen is one of the most important aspects of the home, so you should ensure all cords are put away, appliances and benchtops are spotless and clutter-free. Floors and windows should shine.

• Get everything professionally cleaned

  It is recommended that you have your carpet, drapes and furnishings steamed cleaned by a professional. Having your property spotless and tidy will allow potential buyers to focus on the positives and not be distracted by things that may well reduce the value.

• Remember to make it feel homely

  On the day of an inspection, remember pleasant smells evoke positive emotions, so ensure that your home has the aroma of warmth. Maybe brew coffee, put out fresh flowers, and open windows to let fresh air and sunshine in.

Now that your price is right and your home is ready to be viewed, your home is at its best, so now is the time to start preparing your Marketing Campaign.

• Take Photos

  The quality of your photos is paramount to entice people to want to see your home. Even a mobile phone can take good shots, but hiring a professional will always improve your chances and the cost is minimal in the scale of things. If you do decide to take your own photos, always take 'landscape' (horizontal) shots.

• Create a brochure

  Brochures are handed out to anyone who inspects your home - it is a reminder of your home compared to others they may be looking at. You can also put up a brochure in the local store window or do a mail drop. A brochure should have a few photos, main features and your contact details. Ask us about out brochures! Most of our packages include them.

• Create a Story

  Preparing a good description of your home and its setting is designed to entice people to want to inspect and find out more, so don't make it too long so the buyer thinks they've heard everything and doesn't enquire further. Try to remember why you bought or built your home in the first place. Often the things you liked are what others like.

• Have a Sign

  When selling your home, it should not be a secret and you should re-think if you don't want the neighbours to know! Often neighbours know someone looking to buy. Buyers also drive around a neighbourhood they're interested in, as well as driving around when inspecting other nearby properties. A sign can also help people find you when attending an inspection.

• Tell your friends

  Nowadays it is much easier to spread the word about your property sale, especially if you have Facebook. With a simple 'post' about your property sale, your friends and their friends will instantly know. Alternatively, old fashioned word of mouth still travels. Again, selling your home should not be a secret.

• Open your House (Open Inspection)

  No Agent Property login allows you to post times that will then flow through to all the sites you are listed on. Check open times for nearby properties, and schedule yours before or after, so you don't 'clash' with them, and can capitalise on buyers for other properties near you. Show your property is open with open inspection signs (available from No Agent Property).

• Disclose any Necessary Forms

  A contract of sale and a vendor statement (usually prepared by a conveyancer or a solicitor) is best to be displayed in a central area (this is a hard copy, so you can use it for 'display only') and offer to email a soft copy (this is a good way to get the buyer's email). NOTE: Some states have other compulsory forms, for example a Due Diligence form (Victoria Only).

Even if you are with an agent, Open Inspections take preparation. No Agent Property makes it easy for you to add times to your ads on all websites it's advertised on, as well as providing you with signs to advertise when your property is open, making things a bit easier for you. It is recommended that two people conduct an open. One person at the door and the other inside. Don't fret if you are on your own, just ensure you stand at the door and, just like an agent, you ask their name and phone number and even email address. You are also within your rights to also ask for ID (driver's license). Serious buyers won't mind.

• Refer to "Preparing your home"

  Much of the preparations for an open home are included in that earlier section. Particularly, the information on cleaning and clearing away items.

• Inspection Mode

  Get used to a quick preparation time before people come to your open home. It's handy to have spare covers/throws and cushions sitting in each of the rooms in a wardrobe. Come inspection time, each family member should know what to do. General areas like kitchens and family rooms should be clear of clutter and ready to be shown.

• Soft Music

  Pleasant background music will sub-consciously put people at ease as they enter your home.

• Nice Smells

  Coffee is a big winner or, if not, very subtle incense (but be careful not to overdo it). If you have pets, be careful that odours are not 'hanging around'.

• Lights on and open Curtains/Blinds

  No matter how bright it is in your home, always turn on all lights, especially bathrooms and smaller rooms. Lamps should be on as well. Opening window dressings creates as much natural light as possible.

• Put away personal or valuable items

  As well as cleaning up, putting away valuables goes without saying. This includes jewellery, loose change, etc.

• Documents/Brochures

  Display any documents - i.e. contract of sale (it is wise to have one for DISPLAY ONLY, and offer to send a soft copy to their email).

• Set Up Signs

  Put out your open inspection signs 5 minutes before opening. Leave the one outside of your house last. Buyers looking in a particular location look out for them, especially on a Saturday morning.

• Take People's Details

  Have a lined sheet (preferably on a clipboard). Greet Buyers as they enter and write down their details (name, phone number, email address). Have your brochures in hand if you don't have them displayed.

• Leave Buyers Alone!

  Your home will do what it needs to do. Hanging over people or talking too much does not allow them to inspect.

• Ask buyers if they have any questions

  Allow them to freely move around the property and ask buyers if they have any questions.

• Don't take anything personally

  If a prospective buyer makes a comment about something they don't like, do not take this personally. Remember the things you like may not be to their liking. Showing your home should not be taken personally.

• Pleasantries

  See potential buyers as your guests and make them feel welcome.

• Follow-up

  If they leave an email address, you can follow up thanking them for their time and touching base with them about any further questions they may have or whether they'd like to make an offer. Ask if they would like a 'soft' copy of your Contract of Sale.

It's not just about agreeing on a price when buying or selling a property. The conditions of the offer are very important. They help protect both the buyer and the seller. You may only have one offer or you may have several. In each case, you need to evaluate them. Remember they are buying YOUR home, so work to meet YOUR goals. If a first offer is not to your satisfaction, you can counter offer or let them know that the offer is not quite what you were expecting and welcome them to make another offer. This is the same if you have several offers. Don't be shy in saying "thank you for your offer. At this stage, your offer will not be accepted and if you'd like to provide another offer I/we will consider it".

• Qualify

  Confirm whether the buyer has the financial means to purchase your home or it is 'subject to finance'. Other contingencies could be 'subject to the sale of their property'. The ideal contract is an 'Unconditional' Offer.

• Offers Subject to Finance

  The most common offer. If the buyer does not obtain finance approval, then the sale will not go through. Many buyers should have been pre-qualified from their financier/bank prior, but not always. If you take this offer, ensure the approval is by a certain date (i.e. 7 days). If they can't get approval, you can either extend (especially if you don't have other offers), or cancel.

• Subject to the sale of the Buyer's Property

  This means the buyer's offer will depend on them selling their own home. Again, there needs to be a date documented. Usually this is 2-3 months. The problem is that, in most cases, you cannot accept any other offer in the meantime, as the buyer would have paid a deposit and the contract is binding. The second problem is that 3 months is a long time to wait!

• Both Subject to Finance and Subject to the sale of the Buyer's Home

  This means there are two conditions. Subject to Finance and Subject to the sale of the buyer's home. Arguably, not the best of contracts! But still an option if you're happy to wait.

• Subject to a Building Inspection

  Buyers themselves may have conditions: 'subject to a building inspection'. This means an independent and qualified builder or company can inspect your house for any potential problems (termites, structural problems, electrical or general wear). If the report identifies anything major, then you may offer to fix/repair or the buyer can pull the offer.

• Subject to Valuation

  It could also be 'subject to a valuation', which means the buyer wants a written valuation from a professional valuer. In this instance, there is nothing you can do once the valuation is done, so it's the buyer's choice whether to withdraw or proceed with the offer.

• Unconditional

  This means there are no conditions - the best types of offers!

• Cooling Off

  Whether there are conditions or not, in most cases/states of Australia, there is still time to wait until the contract is complete. Each state has different terms for cooling off, but it's often around 3-5 days with a possible termination fee - ask your solicitor/conveyancer for your state's exact requirements. When the period has lapsed, the contract is binding.

There are a few more formalities that should be noted for the period in between the offer and the handover of the property.

• Insurances

  When selling OR buying, it is vital you understand who is responsible for any damage whilst under contract, and it's a good idea to have insurance. There are standards for each state, but these can vary between contracts. A standard contract of sale will detail when the risk of damage to the property passes over to the buyer, but check this with your conveyancer.

• Early Release of Deposit

  A release of deposit clause allows a vendor of a property to have 'early access' to the 10% deposit prior to settlement. It is best to seek the advice of your solicitor/conveyancer. Some states have specific forms, such as a Form 27. It can benefit the seller if they're buying another property or for tax purposes, but can be risky for the buyer, so proceed with caution.

• Unconditional Contract

  There is often a certain date specified in the contract when it goes unconditional. At this point, there is almost no way for either part to back out - it's binding. It can sometimes be the same date as settlement, is often earlier, and for sales by auction, it's immediate. The property is marked as "sold" online at this date.

• Settlement

  Property settlement is a legal process that is facilitated by your legal and financial representatives and those of the buyer. It's when ownership passes from the seller to buyer. The seller sets the settlement date in the contract of sale. Generally, property settlement periods are usually 30 to 90 days, but can be negotiated.

• Final Inspection

  The seller must hand over the property in the same condition as when it was sold. It is a buyer's right and usually done a few days before settlement. They may wish to check appliances, hot water system, heating and cooling, etc. are in working order, and walls, fittings, floors are in the same condition as the first inspection.

• On the Day of Settlement

  Your conveyancer or solicitor would have already been in contact with the buyer, or buyer's legal office. On settlement day, at an agreed time and place, your settlement agent, solicitor or conveyancer meets with your lender and the seller's representatives to exchange documents. They organise for the balance of the purchase price to be paid to the seller.