A home sale is likely to be the largest financial transaction you will undertake in your personal capacity. With so much at stake, selling your home is understandably intimidating and stressful.
Our 'How To' guide will relieve some of the stress by providing you with all the useful tips and hints that you'll need.
At the outset, it is important for you to identify why you are selling and what you want to achieve from the sale. Is it to upgrade, downscale or for financial reasons? This will help you understand your time frames and how negotiable you are.
In order for you to sell your home quickly and for the best price possible, follow these steps.
1. Determine the correct selling price for your property
Pricing your home correctly is crucial when putting your home on the market. A home that is badly priced will take longer to sell than one that offers fair market value. You need to do your research and get to know the local market inside out. Use our exclusive evaluation service, which is offered in partnership with Lightstone, to get an instant 'Comparative Market Report'. This report is compiled by pulling data from various third party sources and includes:
- A guide price for your home
- Suburb trends
- A breakdown of recent properties sold nearby
- Recommendations to help you get to a final figure
Once you have all the information that you need, set your asking price.
2. Get your home ready for sale
Once you’ve decided that you want to sell, you should try to get your home in tip-top shape. A well-maintained home will stand out from other properties for sale and create a better impression on buyers. Tend to any repairs and maintenance issues like leaky taps, faulty switches, and broken windows. These obvious flaws will put buyers off or encourage them to try to negotiate on the price.
Home staging is the art of dressing up your home to improve your chances of a sale. In essence, you 'dress up' your home to highlight its best characteristics. This could involve minor tweaks, from rearranging the furniture and decluttering to repainting and renovating. Homes that are well presented and well maintained typically sell faster than those that are not.
3. Advertise your home
Studies show that over 80% of property searches today begin online, so a good property website should be a key part of your property marketing strategy. Simply Online is the only property platform offering private sellers the opportunity to promote their home on all the major property portals in South Africa, such as Private Property, Property24, and Gumtree.
Photos really do speak a thousand words. Whilst we want you to save as much as possible selling your home with Simply Online, you will have an opportunity to book a professional photographer*. This service is available once you've completed your listing.
*Note this does have a fee associated to be paid separately.
4. Choose a conveyancer
As the seller, you need to choose a solicitor or conveyancer to handle the legal work to transfer ownership of the property. Simply Online will put you in touch with trusted conveyancing attorneys in your area to help with your sale.
You should decide which firm you want to use before you agree to the sale of your home. They will be able to supply you with the relevant paperwork like an offer to purchase, and with any legal advice that you may require.
5. Conduct viewings of your home
Interested buyers will be in touch to view your home. Remember, with Simply Online only vetted buyers are allowed to contact you.
6. Finalise the house sale
By now you will have started receiving offers on your home. A buyer who wants to purchase your home will have to sign an offer to purchase. Once the document is signed by both yourself and the buyer it becomes a legally binding sales agreement.
Your conveyancing attorney will be able to provide you with the offer to purchase document and will be able to advise you on the legalities of the process. The offer to purchase document should include the property description, the purchase price, occupational rent amount and occupation date, special conditions, as well as any other relevant information.
Once the sales agreement has been signed and completed, it is submitted to the conveyancing attorney who will handle all the paperwork from there. The attorney will complete various tasks and liaise with various people in order to get the property transferred from your name to the buyers.
The process of transferring property can take up to 3 months. At the end of the process, the property is registered in the buyer’s name and the conveyancing attorney ensures you receive the proceeds of the sale.