What happens when I sell my house? Real Estate tips for first time seller from McGrath Group Image: Tunisia-2682 - I'm Leaving Home by Dennis Jarvis via Flickr What happens when I sell my house is an important question to ask because selling your home for the first time (or for the first time in a long time) is often an exciting and emotional experience.

But it doesn’t have to be a scary one.

At McGrath Real Estate we set our newbie vendors at ease by demystifying the whole sale process—even though it’s a first for you, you can be confident in our decades of experience in property sales.

What happens when I sell my house?

Once your agent has negotiated the sale of your home, there are some more important steps in the sale process.

You may not be aware that, after they sign the contract of sale, the purchaser is entitled to a cooling-off period of two business days, after which their deposit is due for payment.

Apart from your real estate agent, the other key professional you will need to appoint to finalise the sale of your home is a conveyancer—their advice will be invaluable.

Conveyancing summary for first-time sellers

Conveyancing is ‘the branch of legal practice concerned with the transfer of property rights’ (Macquarie Dictionary).

Your conveyancer will handle all the searches and documentation to ensure that your property is legally transferred to its new owner on settlement and that all financial transactions are carried out promptly and securely.

Settlement generally occurs between 11 am and 12 noon (your conveyancer will confirm the exact time) at the Lands Titles Office, by which time you must have cleaned and vacated your property.

Vendor’s Checklist

  • Start sorting and packing!
  • Book a removalist as soon as possible to secure your desired date (ask us for the contact details of a highly regarded firm).
  • If you have unwanted furniture, clothing or other household items, consider arranging for a local charity to call and collect it.
  • Notify the appropriate people and organisations of your new address and phone number (we’ve compiled a thorough list to help you with this task; and don’t forget us!) and organise a mail redirection with Australia Post, if required.
  • Leave the instruction booklets and guarantees for fixed appliances and equipment for the new owner and a note of the rubbish collection day.
  • Give your home a thorough clean—this is a courtesy to the new owner and aids a smooth transition (don’t forget the oven and inside cupboards).
  • Check with your selling agent or conveyancer regarding the handover of keys (at least two keys for every lock on the property) on completion of the sale.
  • Arrange for final readings for your electricity and gas, and transfer or disconnection of your landline and internet service.
  • Say your fond farewells to your old home and look forward to the future in your new one.

Don’t be daunted by the list of tasks to be accomplished; it’s all manageable if you adopt a methodical approach and adhere to the advice of your selling agent and conveyancer.

Your McGrath Real Estate agent has overseen the transfer of many, many properties and will be with you all the way to ensure that your sale and transition to your new home goes smoothly, with minimal stress.

 

Image: Tunisia-2682 – I’m Leaving Home by Dennis Jarvis via Flickr. CC BY-SA 2.0