THE PROCESS OF BUYING AND SELLING A HOUSE
We have simplified understanding the process of buying and selling a house by breaking it into five manageable steps. This makes it much easier to know what due diligence you'll need to do for every step in the process.
The chart below centralises the most reputable property Government and non-Government bodies' resources in one place. It covers advice about property valuations, when to use a lawyer, tax, building inspections, real estate commission and much more.
The collation of this important inter-agency information will mean you are better prepared than most, enabling you to achieve the best possible real estate experience and result.
If you need to sell your house quickly during Covid-19 or want advice first, call 0800 789 532, we're happy to help and it's all a free service.
STEPS TO SELLING AND BUYING A HOUSE
There are only five steps, each comprising a number of actions required on your part and each of these are linked to the best resources available in New Zealand. They include:
- Preparing to sell a house, how much it will cost and how to reach a prime sale price
- Making properly informed decisions including how to compare and choose the best real estate agent
- Marketing, sale and purchase agreements and real estate agent negotiations
- Understanding and signing all the legal documents required
- The process of buying a house includes buying different property types and relevant industry resources for each
THE BUYING & SELLING PROCESS FLOW CHART ONE STEP AT A TIME
Many people rush into the process of selling or buying a house with minimum preparation. This can result in having a signed sale and purchase agreement fall over just when you think it's a done deal.
This Buying and Selling chart carefully guides you through the whole process of selling a house one step at a time.
Also, this free downloadable Get Info Pack on this website is also a good place to get some great insights about:
- Preparing yourself to sell your house
- What helps to sell a house quickly and how you can influence this
- How to get the optimum sale price and how you can influence this
1) Repairs and Maintenance - Make a list of any unfinished work, or repairs and maintenance, and get these jobs done so they don't get found by a buyer's property inspection. Inspections are often a condition of sale.
2) Improve or Remove - Stand at the doorway of every room in your house with a buyer in mind. What would you improve or remove? Enhance the best features and upstyle every room, because it's very effective, and costs you nothing other than time. Send us some images if that helps.
FIND A GOOD REAL ESTATE AGENT & REQUEST APPRAISALS
3) Find an Agent - Finding the right real estate agent for you and your particular property - to get the optimum real estate experience - is like finding a needle in a haystack but we can help you with this very important part of the overall process.
We specialise in vetting and short listing competent agents who have proven to be right for you, your property type, value and location. You can review these, without pressure, before meeting them.
4) Interview Agents - Find out more about interviewing estate agents using our Agent Questionnaire. It will help you to compare apples with apples and make properly informed decisions.
5) Get an Appraisal - The real estate agents will provide you with a property appraisal in writing. This is a legal requirement.
6) Compare Appraisals - You can then compare the market appraisals that will include how they propose to achieve the best sale price for you, describe the different methods of sale, and include a marketing proposal to sell your house plus more. Take your time to consider these.
7) Sign an Agency Agreement - Once you have decided on an agent, you can sign an Agency Agreement and the Commission Clause. The agreement is with the company, not the agent. Check the commission fees and the term of contract. Both are negotiable.
THE PROCESS OF MARKETING YOUR PROPERTY
8) Marketing and Advertising - Your real estate agent will provide you with an itemised marketing and advertising plan and all the costs associated with this. Any subsequent amendments to this should be agreed and signed by you. Make sure you discuss open homes or private viewings.
9) Photography - Once you have decluttered or up-styled and your house is ready to show buyers, the agent will organise a professional photographer for you. These images are what will attract potential buyers to come and view your house.
10) Website Content - Your agent will enter details, features and benefits of your house into each website agreed in your marketing plan. They must enter a sale price range into these websites so be clear about what this is.
11) Open Homes or Private Viewings - Discuss your preference with your chosen agent. These can be at agreed intervals.
12) Agent Communication - Your agent should provide you with regular updates and/or reports regarding inquiries received.
SOLD, AND MOVING ON
13) Getting a Sale - The agent will present buyers' offers to you on a Sale and Purchase Agreement.
14) Get Moving - Changing your address for all your utilities like phone, power, gas and any other Government services like Inland Revenue is now very streamlined and online. When you're ready, we can send you the link. It's very easy.
15) Buying Your Next Property - If you are buying another property, we can provide you with a guide and checklist. These are designed to protect you.
Get In Touch or call 0800 789 532 anytime
Article Update July 2020 | About