Simple property sales tips
Category Advice
When it comes to selling a property, it pays to be organised, transparent and to work with the professional.
"Buying tends to be viewed as a 'bigger deal' than selling, but in reality it can be equally daunting, which is why it helps to be informed and prepared for the process," says Brenda Lange, Franchisee at Leapfrog Kempton Park.
The price must be right
A property needs to be priced just right in order to sell quickly and for the desired price. "Price it too high and it's likely to stand still on the market, while pricing it too low could mean making a loss, which may mean an inability to cover sales-related expenses like the bond settlement," Lange explains.
It's a good idea to consult a trusted property advisor for a valuation, which will help to determine a reasonable, market-related price for the property.
No secrets
"The advice is simple, never try to hide property defects either by concealing them or keeping quiet about it, because it almost always eventually comes out to haunt you," Lange says candidly. This means being transparent about any defects or problems with the property and highlighting current and potential issues in writing and adding it as an addendum to the sale agreement.
Most sale agreements include the "voetstoots" clause stipulating that the property is sold "as is" but Lange says it's the courteous thing to do, and helps to prevent legal or similar action being taken by the buyer against the seller.
Speak to your bank about bond cancellation
Most banks require 90 days' notice of the intention to cancel a bond, and failing to do so could incur penalties.
Lange adds that it may also result in delays with the property transfer and registration, which is likely to frustrate both buyer and seller.
Work with a trusted property advisor
Selling a property can be a complex, time-consuming process that comes with plenty of legal requirements, financial risks and emotional stress.
The right property advisor works with the seller to save them time, make them more money, navigate the legal landscape and offer you peace of mind. "The job of a property advisor, in this case, is to sell the property as fast as possible for the highest price possible, which is alway the goal for the seller too," Lange says.
First impressions count on show days
Make the most of show days by ensuring the place looks and feels inviting. Simple things like making sure it's clean, any clutter is out of sight and that the curtains are open. "The potential buyer needs to be able to imagine themselves living in the property so it helps and making sure the overall looks, feel and scent is pleasant can go a long way in helping with that," Lange shares. Purchasing property can be a very emotional process, which is why it's important to target the positive feelings!
Author: Leapfrog Property Group
