Step-by-step guides to selling your home
As one of the largest assets a person will typically own, it is important to get the sale of a home right. For first-time sellers, this process can be overwhelming, but it need not be when you have a reliable real estate professional to assist.Before listing the home, Adrian Goslett, Regional Director and CEO of RE/MAX of Southern Africa suggests that first-time sellers take the time to prepare for the various upfront costs that are involved in selling the home, including things like the rates clearance certificate and the cost of acquiring the required compliance certificates (e.g. electric, plumbing, gas, beetle, electric fence). “These amounts can add up to be a significant amount, so it is better to start saving for these expenses long before you accept an offer to purchase,” he advises.
He adds that speaking to a real estate professional can help sellers get an idea of what costs should be budgeted for when putting a home on the market. “You can then also have an honest conversation with your chosen real estate professional to find out how much you can expect to sell the home for,” says Goslett.
Rather than meeting with a real estate professional first, Goslett says that many sellers often decide upon an asking price first and lose the new-to-market appeal by pricing the home incorrectly to start. “In a market like today’s where affordability remains a top concern, setting a fair asking price is key to concluding a timeous sale. A real estate professional can prepare a competitive market analysis and use accurate sales data to arrive at a realistic and achievable asking price,” says Goslett.
The next step in the sales process is to get the home prepared for the listing photoshoot. “Modern buyers begin their house hunting online, which makes it so important to photograph the home in its best possible light. Most real estate professionals will arrange for a professional photographer to take the listing photos. Before the photographer arrives, it is advisable to see to any visible maintenance issues and to clean and stage the home,” Goslett recommends.
Shipshape
Once the listing is uploaded to the property portals, it is also important to keep the home in good condition so that it is viewer-ready whenever a buyer enquires. “It is often better to leave the home when buyers pop over with the agent for a viewing, as this will allow them the freedom to explore and imagine themselves living in the home,” says Goslett.
One of the most exciting steps in the process is receiving your first offer to purchase (OTP). “It is important to understand that this is a legally binding document, so if you are unsure of any of the clauses in the OTP, ask your agent for clarity. It can be a very costly mistake if you agree to something you don’t fully understand,” he notes.
The final piece of the puzzle is when the offer is accepted and the OTP is signed by both the seller and the buyer, which then starts the transfer process. “The transferring attorney is usually selected by the seller, but your agent can share recommendations if you aren’t sure who you would prefer to work through. The transferring attorney then typically takes over and will be in touch to guide you through the lengthy administrative process of transferring the home into the new buyer’s name,” Goslett explains.
While there are many moving parts to coordinate when selling your home, the process can be simplified when you work through a reliable real estate professional. “This is why the real estate profession exists. Apart from matching a buyer to a seller, real estate professionals offer expert guidance and assistance throughout every step of the transaction. If you’re ever feeling uncertain about selling your home, reach out to your nearest RE/MAX Office for assistance,” Goslett concludes.