Selling

If you are considering selling, Pinnacle Sales & Management can assist you with everything you need to achieve your desired outcome.

We recognise that each property is unique with individual characteristics and that each Seller is different. We abhor the ‘one size fits all’ approach to real estate marketing and pride ourselves on offering tailored strategic marketing strategies to our clients to maximise the return on the sale of their property.

It is our aim that by the time a prospective buyer views the property that they are armed with all the relevant information to assist them in making a swift but informed decision to buy.

Our sales team values the importance of trust and honestly in our relationships with our clients and you can be assured that we will always act in your best interests.

Selling Tips

Getting your property ready for sale in the right way can be the difference between achieving an ‘ok’ price to achieving a great price. Pinnacle Sales & Management can assist you by providing a number of selling tips in order to achieve a great price for the sale of your property.

Presentation Selling Tips

Presentation of your property is a critical factor in achieving the highest possible price. The following is a list of attributes that will turn buyers away:

  • Animal odours in the house (Tip: a good carpet clean should remove a lot of these odours)
  • Evidence of damp or moisture in the walls
  • Cigarette or strong food odours
  • Doors, windows or gates that stick (Tip: lubricate hinges to get rid of any squeaks)
  • Cracked glass (Tip: all cracked glass should be removed)
  • Too much furniture or personal belongings cluttering the space (Tip: de-clutter the entire house by moving awkward pieces of furniture, toys and other belongings
  • Stained carpet (Tip: a good carpet clean should assist in removing stains)

If your property has any of the above attributes we would suggest that you consider obtaining quotes to rectify the items. Often the cost of rectification of these items will be small and will not be time consuming.

We can put you in contact with relevant tradespeople and / or a property stylist if you require further assistance in this regard.

If the subject property is vacant at the time of sale, it would be our recommendation to furnish the property for the duration of the sale campaign if at all possible. Statistically a property that is furnished at the time of viewing will attract a higher market price.

Timing

You should consider recent sales in your area when considering what price you are prepared to accept for your home. We will of course assist you in this regard also by presenting you with a detailed property appraisal.

An accurately priced property should usually sell within 2 – 6 weeks. Time should be allowed prior to this to prepare the property for sale and effectively market the property.

Method of Sale 

When it comes to selling your property, there are three popular methods to choose from:

  • Private Treaty (Sale)
  • Public Auction
  • Public Tender

Each has its own advantages and we can assist you in making an informed decision in your choosing the most appropriate method of sale.  We will do this by:

  • Analysing your property
  • Considering your individual requirements
  • Current market conditions

Auctions: 

  • Build energy and excitement within a defined period of time (usually 4 weeks)
  • Nominated inspection times
  • Buyers bid on auction day
  • Even 2 motivated buyers at auction can drive the price high when they enter into a ‘bidding war’
  • Suitable where there is at least one qualified buyer in the market place

Private Sale 

  • Suits sellers who are flexible with inspection times and do not want intensity of the auction campaign
  • Property is sold when a buyer offers to pay the seller’s desired price

Sale Process

If you are not selling your property at public auction you will need to have an idea of a selling price for your property in order that you will be able to negotiate with prospective purchasers.

Please note that sales that have been ‘passed in’ at auction may also result in further negotiations in certain situations.

The following information can be used by you as a general guide to the selling process.

Price

Usually when a buyer is ready to present an offer to purchase your property they will contact us to discuss the matter.

In our experience, most buyers and sellers want to achieve outcomes that are mutually beneficial. This is where negotiation comes into play and this is where our staff are professionally trained to use skills and techniques to achieve good results for all parties involved.

  1. A great starting point for successful negotiations is to start with a fair price and a fair offer. Experience tells us that significantly over pricing your home will turn away genuine buyers. Similarly, a buyer who makes an offer that is lower than the listed asking price will almost always push away the sellers. The asking and offering prices should largely be based on recent comparable sales in the same area.
  2. Consider the other parties’ motivations. Ascertaining what is of most importance to the person with whom you are negotiating can assist you in assessing how far to push negotiations. For example, a seller who stands firm on his or her sale price may be willing to make certain repairs to the property is requested. Or, a buyer who has to move into a property urgently might be willing to contribute towards transaction costs or will more than likely forgo certain repairs.
  3. Compromise. There will ultimately be some level of compromise on one or both party’s behalf. It is rare that the buyer and seller both get everything that they want from their negotiations. Keep you main focus and ultimate goal in mind during negotiations.

 

The Contract of Sale

Once the terms of the deal have been agreed a Contract of Sale will be prepared.

In addition to the standard terms, the Contract of Sale will document all matters relating to the transaction including, but not limited to, price, deposit, date of settlement, the inclusions and exclusions and other special conditions such as ‘subject to finance’ or ‘subject to the sale of another property’.

Once agreement has been reached, it is normal for the agent to take a deposit.

Please note that there are strict legislative requirements with respect to the preparation and presentation of the Contract of Sale and these vary from state to state.

Following execution of the Contract of Sale to settlement

It is likely that the buyer and the seller will both engage a solicitor or conveyancer to handle the transaction following execution of the contract to the date of settlement.

The solicitors will liaise with one another in relation to important dates and special conditions and will prepare the matter for settlement. If lenders are involved the solicitors will also liaise with them to make the appropriate arrangements for settlement.

Your solicitor will attend settlement and, if you have a financier, they will also attend settlement. At settlement, the balance purchase price will be paid by the buyer to the seller (after adjustments for items such as rates, water and body corporate levies) in return for documents allowing title to pass and for the property to be registered in the buyer’s name.

Please note that there are strict legislative requirements with respect to the preparation and presentation of the Contract of Sale and these vary from state to state.

Buying

Pinnacle Sales & Management can provide you with comprehensive information and professional advice regarding the properties we have for sale with us.

Simply give us a call to discuss your buying options today. Alternatively, you may register your buying needs here and we can contact you when suitable properties that match your search criteria become available.

Buying Tips

  1. Prepare a short list of the areas that you prefer to live in, keeping in mind affordability and your other requirements, eg. public transport, shopping centres, etc.
  2. Speak with your financier or home loan specialist to arrange the best loan to suit your needs and to determine your buying power. We can assist you in locating a broker or financier.
  3. Research recent sales in your preferred areas to obtain a feel for the market. Attend auctions and open for inspections in these areas.
  4. Register your needs with Pinnacle Sales & Management in order that we may contact you when suitable properties that match your search criteria become available.
  5. When you do find a property that you like, ask your selling agent to send a copy of the sale contract to your solicitor.
  6. We recommend you arrange a building and pest inspection on the property you prose to purchase. This report should reveal any defects and/or pest concerns associated with the property.
  7. If you are intending to bid at auction, we would suggest that you read the relevant Office of Fair Trading here.

Your solicitor will assist you with the conveyancing process and will advise you of relevant matters such as searches and preparation for settlement. We are happy to answer any questions you may have regarding the conveyancing process also.

Buying Process

Congratulations! If you are reading this you have made a successful bid at auction or have had an offer accepted on a home and have executed the relevant contracts.

Insurance

In most cases the property will now be at your risk and it is therefore very important that you arrange appropriate insurance cover immediately. When you are choosing insurance you should carefully compare policies and conduct research. Ideally insurance cover research would have been done prior to the execution of the contract however this is not always practical for buyers as the market can move quickly.

Buying process

You will most likely engage a solicitor or conveyancer to handle the transaction following execution of the contract to the date of settlement.

Your solicitor will liaise with the seller’s solicitor and your financier (if applicable) in relation to important dates and special conditions and will make appropriate arrangements for settlement.

You should discuss various search options with your solicitor and find out from your bank exactly what is required in order to effect settlement on the settlement date.

You should conduct a pre-settlement inspection of the property to ascertain that the property is in the same state that it was when you previously inspected it and that no damage has occurred, and that all inclusions listed in the contract are still present.

Your solicitor will attend settlement and, if you have a financier, they will also attend settlement. At settlement, the balance purchase price will be paid by you to the seller (after adjustments for items such as rates, water and body corporate levies) in return for documents allowing title to pass and for the property to be registered in the your name.

Home Moving Checklist

6 – 8 weeks weeks prior to moving you should :

  • Obtain moving supplies eg boxes, sticky tape, permanent markers, scissors, a Stanley knife, newspaper, blankets, plastic storage bins, moving pads, rope and boxes.
  • Have a garage sale or donate to charity any unwanted items.

2 weeks prior to moving you should:

  • Make removalist arrangements. You should always choose a reputable removalist company. If you want to move yourself arrange a hire vehicle for the appropriate day. It is always a good idea to obtain a few quotes and compare prices. We can assist you will referrals if you need.
  • contact your telephone and internet provider, electricity, pay tv, waste removal services, cleaning, security and water companies to set up a specific date when services will be discontinued.
  • arrange start dates for the above services at your new property.
  • If you are moving a long distance from where you currently reside, it is a good idea to contact people such as doctors, dentists, lawyers and accountants to request the transfer of your records.
  • Check on your insurance coverage

On moving day you should:

  • Have tools handy for dissembling furniture.
  • Move valuables (such as jewellery, legal documents, family photos and collectables) yourself – don’t send them with the moving company.
  • Make sure you have a complete home inventory of all possessions.
  • Give every room a once over. Don’t forget to check the backyard, attic, garage and wardrobes.