Selling a property
What is the process if you wish to sell a property? The basic steps for selling your home or other property are as follows: –
- Firstly, you need to retain a real estate agent of your choice to act on the sale, unless you propose to sell your home without the intervention of an agent (which we do not recommend);
- The agent will advise you as to whether the property should be sold at auction or by private treaty. This will in large part depend on the market at the time the property is listed for sale. Some properties lend themselves to sale by auction more than others.
- On listing the property, the agent will call for a contract to be issued. This requires searches to be obtained and a contract prepared. This is then emailed to the agent for publication to prospective purchasers and requires certain searches to be obtained and annexed to the contract.
- If the property is auctioned, the contract is “exchanged” immediately following the auction. The contract is issued as an “original” and “counterpart”, the purchaser signing the counterpart and the vendor signing the original. They are then “exchanged”.
- All dealings are thereafter undertaken through PEXA or another electronic platform including all dealings with the outgoing and/or incoming financial institutions.