You’ve made the decision to sell your house, but are you ready for the journey ahead? When it comes to real estate and property law, treading carefully and being informed is the only way to go. After all, everyone wants to make the right decision at the right time, especially when it comes to selling a house.
Here at HomeLegal, we’ve helped a good number of first-time sellers to know exactly what they should be preparing for. Everyone could use a bit of help and advice from the outset before seeking legal advice, which is why we’ve put together this list of things to consider when getting ready to sell your house.
1. Consider obtaining a LIM report.
You may consider obtaining a LIM report to ascertain whether all building consents and code compliance certificates have been obtained from the local authority where any work or renovations have been undertaken at the property since the time it was built. It is better to be aware of any issues that are recorded in the LIM report and address those issues prior to placing your property on the market for sale.
You may perhaps also wish to obtain a builder’s report on the property. If your builder records that there are any issues that require attention, these can be undertaken prior to the property being placed on the market for sale.
2. Obtain a registered market valuation.
Obtaining a registered market valuation on your property to ascertain its current market value can be useful. You should not disclose this figure to anyone but it does give you a benchmark figure as to what you can expect to receive on the sale of your property.
3. Choose your real estate agency.
Consider which real estate agency and which agent you wish to engage to sell your property. A real estate agent is your representative and can help attract buyers to your property, so make sure you choose an agent or agency that will put in the right amount of time and care to sell your house.
Discuss with your real estate agent the different methods available to sell your property and which method is best for you based on the location of your property and the current market – by negotiation, tender or by auction.
4. Don’t forget any chattels.
If there are any chattels (personal possessions) that you do not wish to sell with your property, remove them from the property before the property is placed on the market or make it very clear to the real estate agent that those chattels will not be remaining post settlement. Ensure that those chattels are excluded from the sale and purchase agreement.
If you are selling the property as an executor of an estate, ensure that your liability is limited and liaise with your lawyer to ensure that certain warranties included in the agreement are deleted.
Getting qualified legal advice
Selling property can be a complicated and time-consuming process, which is why it’s important to have a good team of qualified professionals to support you along the way. Finding a lawyer or conveyancer that will help you deal with the relevant legal documents will also help you and the buyer fully understand the sale and purchase agreements.
Here at HomeLegal, we’ve helped people like you go through the entire selling process. Our experienced property lawyers and property conveyancing experts not only advise you on the current transaction but will also provide strategic advice about potential future risks before you make a large financial and legal commitment.
Contact Us today at 04 891 2188 and let us support you!