The Selling Process

Selling your home can be overwhelming but here you will find good information about the selling process.
Remember, we’re here to help you with each step.

STEP ONE  Choosing a sales consultant
Your home is one of your most valuable assets so take your time and do your homework to ensure the salesperson you choose to work with is qualified and knowledgeable.  It’s about your relationship with the salesperson.  Do you feel comfortable and confident in their ability to sell your home?

Ask questions!  Are you confident that they can sell your property quickly for the best possible price.

  •  Is your salesperson qualified and experienced?
  • Are they focussed on you?  

STEP TWO  Prepping your home for sale

  • Declutter Be ruthless!  Remove all clutter.  A potential buyer will be trying to visualise themselves living in the home.
  • Clean It is important that your home is clean and tidy before inspection.  Buyers do look in cupboards so wipe out the pantry, tidy up the linen cupboard and wardrobes.
  • Repair Ensure aesthetic repairs are done well before inspection ie chipped wall corners – make sure they’re sanded and touched up as small details like this can detract from the overall “feel” of the home.
  • Stage We encourage you to consider employing a home stylist to stage your home.  You will be blown away by the difference.
  • Photographs Professional photography is a must!  Quality photographs with correct lighting is an important component of selling your property.

STEP THREE  Pricing your home
Study the current real estate market.  One of our Sheridan Real Estate sales consultants will arrange a time to go through your property with you.  They will research the market and prepare a Current Market Appraisal which will show comparisons of other properties similar to yours in your area ie properties that have sold, and those which are currently on the market. Our sales consultant will provide you with a price range they believe you could achieve for your property.  You may have other ideas around price and our consultant will happily market the property for the price you want on the understanding that if, after a couple of weeks of open homes and private viewings the market is saying something different, you will take heed.  It is the market that determines the value of your home.

STEP FOUR  Choosing the best selling method
There are five typical methods of sale that you can choose to sell your home.  Your sales consultant will recommend within their Current Market Appraisal the method they believe would suit your property to achieve the best outcome.  The sales methods are:

- Auction
- Tender
- Sale by Deadline
- Private Treaty
- By Offer

STEP FIVE  Accepting an offer
You have chosen your preferred method of sale, the property has been marketed and you now have a written offer in front of you.  Sheridan Real Estate commits to bringing you formal written offers.  We consider a purchaser ‘serious’ if they are prepared to go through this process.  Here are some of the common conditions of sale.  An offer may be subject to:

  • Finance
  • Builders Report
  • Sale of another property
  • Solicitors approval
  • Specialist inspection e.g. drug testing or moisture report

Once you have accepted an offer and all parties have signed the contract, the purchaser will be asked to pay a deposit, this is usually 10% of the purchase price.   The deposit will be placed in the Public Trust under the Real Estate Trust’s account for 10 working days.  The deposit will be released on the approval of both parties’ lawyers. Once this is done your property sale becomes “unconditional”.  

STEP SIX  Completing the sale – Settlement 
Settlement takes place between you and the purchaser and your respective legal and financial representatives.  At the time of signing the Sale & Purchase Agreement you would have set the settlement date.  Depending what has been agreed on, settlement usually takes place 30-90 days after the contract has been signed.   Possession of the property usually takes place on the same day however both parties can agree to different dates.