Selling privately? Here's what you need to know...

Oct 11th, 2017 | Louis Metson

Selling the family home or an investment property brings a unique set of challenges for a vendor.

Along with death, debt & divorce, selling your home (your biggest asset) is one of the most stressful events that will occur during one’s life.

Understanding current sales trends, which method of sale to use, how to effectively advertise your property to the market place and negotiating the absolute premium price are a skill-set that a trained, polished real estate professional will have.

I would always advise using a professional.

However, if you feel qualified to sell your biggest asset yourself, here are 5 steps you need to take before bringing your home to market privately.

1. Consult your solicitor

Before doing anything, the first appointment you need to make is with your solicitor. They will advise around the legality of selling a home as well as drafting a legal sale and purchase agreement and approving the property’s title.

2. Order a Builders & Lim report before coming to market

To give you the best chance of achieving a sale privately, I would highly recommend ordering a ‘LIM’ & Builders report. If all information (good and bad) is not disclosed, this will be reflective in the price a buyer offers. Fully informed buyers pay more.

What’s a LIM? See here:

https://wellington.govt.nz/services/rates-and property/property/reports/lim

3. Professional photography

Unless you’re a gun with a camera, use a professional. Bad photos will not attract as many potential buyers meaning reduced enquiry

4. Sign Board

Have a visible signboard at the front of the property. You can’t sell a secret.

5. Dress to impress

Professional staging appeals to buyers. Consult a professional stager to maximise your property’s market appeal and sale price.