How TO SELL A HOME in NZ - ALL YOU NEED TO KNOW
A STEP BY STEP guide to SELL A HoME in NEW ZEALAND
Selling a house is one among the large decision you’ll absorb in your life. It’s important for you to understand why you would really like to sell a home before jumping into this complicated home selling process.
Step 1. Do your homework
Are you thinking of selling a house? then, first of all ask just one question to yourself. Why you’re looking to sell a house? The possible answers you’ll find are up-sizing, downsizing, relocation, moving overseas, moving to retirement home, selling an investment property or any other personal reason.
Once you bought your answer and you’re 100% sure that you simply want to sell your house then think about how to sell a home at maximum price? Now, it’s a time to search for the factors like real estate market, interest rates, rental prices etc. which will help to form up your mind to sell your home then start executing the procedure ‘how to sell a home’ ?
Step 2: Talk to your trusted real estate agent
Once you’re sure you would like to sell your house then search for the trusted land agent in your area. It’s easy you’ll read my article the way to choose a true realtor here. Your land agent can guide you about the market value of your home, buyers expectation within the market or in your local area, your house appraisal, your home worth etc.
The quickest method to know your home worth anywhere in NZ is to send submit your query here to us and that we will send you the market report of our home and the area.
It is always useful to collect the maximum amount of information possible about the market before selling home. Land agent can assist you providing the useful insights in your area or if you’re internet savvy then do your own research from Trademe insights or homes.co.nz. You can access all this information for FREE.
Once you’re satisfied with the market conditions and know your current home worth then subsequent step is to think about the external factors which will impact the worth of your beautiful property.
STEP 3. Know ABOUT THE external factors that can impact your house price
Even though the market is sweet but there are other factors which will really impact your property price so in my opinion, you want to know:
Who is your competition? Your neighbor are your biggest competitors in anywhere within this industry. Past recent sales set the benchmark in your area, but the question is how are you getting to unlock the costs of the homes sold in your area? The solution is basically simple. you’ll contact real estate agent or send us the property appraisal request, we’ll send you the market price of your home, recent sales in your area and current listings in your area.
Are there any buyers within the market? Buyers who are looking the homes in your area are your target buyers. don’t ignore your buyers research before selling home. Ask some inquiries to the important realtor like how many buyers showed up within the open homes, what percentage properties sold in your area by auction, tender or by negotiation. what’s the buyer’s response etc.
If you ask these inquiries to your local agent then these sorts of questions will assist you to work out the agent knowledge in your area also.
STEP 4. WHICH METHOD OF SALE WILL BEST WORK FOR YOUR HOME TO SELL?
After deciding the realtor, you’ll got to decide which method of sale to use. Most preferable method of sales are Auction, Tender, fixed price and negotiation. Auction, tender, deadline sales are time bound methods. If time isn’t a problem for you then agent can suggest negotiation or fixed price method.
Auction is that the recommended way of selling the property.
STEP 5. IS YOUR HOUSE BEAUTIFULLY PRESENTED?
Once you’re through with the research and satisfied with the market conditions and other factors then it’s the time to seem for the simplest options to present your home to the buyers. Beautifully presented homes can really offer you more dollars. Do again your research on the web or ask your friends or relatives who have sold their house in past 3 – 6 months, they’re the simplest ones who can share their experience with the whole sales process.
Minor Repairs – a number of the minor repairs like holes within the walls, leaking taps, bad wall colors can cost you the buyers interest especially first home buyers.
Make your home more appealing – you would like to think how your house can appeal more to the customer s but don’t overcapitalize you’ll not recover these costs from the buyer.
STEP 6. The way to MARKET YOUR HOME?
Marketing is that the most vital factor to urge the proper price for your property. Confirm your house is marketed properly by your land agent. For your information trademe.co.nz and realestate.co.nz are the leading websites to market your home. More you market your property a greater number of buyers will show up within the open homes.
Promote your home at the right place and to the right audience to secure the simplest offers for your biggest asset
STEP 7. The way to PREPARE YOUR HOME FOR OPEN HOMES?
Before you begin the selling home process, it’s an honest idea to believe the space in your house and the way you’ll make the foremost of it.
You may have the best space within the world, but clutter and uncleanliness are only getting to obscure it and make the rooms look smaller. Your land agent can guide you ways you’ll make most out of the space.
Hire a storage for 2-3 months before selling home and dump the items over there.
Clean everything – from skirting boards to walls, taps and behind fridges
Get your carpet professionally cleaned.
Step 8. What to do when your home is in market?
Once your house is in the market, then you ought to not restrict yourself open homes only. Be able to attract the buyers from private viewings. ask your agent who can tell you – how many homes they need sold from the private viewings. Some serious buyers within the market like private viewings only instead of open homes. it’s not harmful to search for all the available options within the market.
STEP 9. the way to ACCEPT A OFFER
Again here you would like to understand more about the types of offers. what sort of offers you will get? It depends on your method of sale. Practically you’ll receive these two offers:
1) Conditional offer – As the name suggests, am offer with conditions. It means buyer will add certain conditions within the offer. In New Zealand, the foremost popular conditions are LIM report, finance condition and building inspection. When these conditions are met then the offer becomes unconditional
2) Unconditional offer – they’re going to straightaway put the offer without the conditions. As an owner you’ll accept or decline the offer.
Offers in Auction are the unconditional offers.
Step 10. HOw much DEPOSIT you'll GET FROM BUYER?
Generally, it is 5% – 10% of the property value.
11. What's settlement
Settlement day is that the date on which the balance for the property is paid. On the settlement date buyer will get the possession and keys are going to be handed over to the buyer.
Once the offer goes unconditional then it proceeds towards the settlement. Usually, it’s 21-28 days from the unconditional date. Owner will move from the property during this period, rectify any defects if acknowledged by the customer within the property before putting a condition or unconditional offer and obtain the house ready for the new owner.
Don’t wait for the settlement day. complete the pending work 2-3 days before the settlement day.
I hope you enjoyed the 10 mins of 10 east read. If you’d wish to know more about the way to sell a home quickly at the high price. Write the comments in the comments section.
Blog: Written By Amit Tuteja – Licensed Real Estate Salesperson