How Do I Sell My Current Property and Buy a Better Home?
Deciding to sell your current home or other property is a big decision that should never be taken lightly. To help you prepare your property and prepare to buy a better home, here are a few tips to get you started.
Take care of any maintenance that needs to be done. Buyers appreciate it, and you can also ask for a higher price.
Find a Real Estate Agent
Ask for recommendations for real estate agents. Family and friends are the best resources, and they can give you first-hand experience so you’ll know what to expect.
Set a Price
You have two selling options – private treaty or auction. Your real estate agent will tell you which one is best for your property. Once you’ve decided how you want to proceed, you’re ready to set the price.
Formalise Your Agreement
You and your real estate agent need to formalise your agreement. Doing so lays down the groundwork for who can sell your property, expected fees, and any other costs you should expect.
Secure Your Sale
Each sale method has its own way of securing the sale. You’ll be working with your real estate agent to get this done. It’s important to know that if you sell via private treaty, the buyer has a five-day period where they can change their mind.
A Few Final Thoughts
Your profits might be subject to capital gains tax depending on what your property had been used for before you sold it. If it was your primary residence, then you’ll be exempt, but if it was an investment property, you need to be prepared to pay any associated costs.