Considerations for a Sudden Property Sale.

Life is unpredictable. One moment, everything is perfect, then the next, you may be facing a major upheaval that requires you to sell your property, here are some considerations and tips for a sudden property sale.

1. Set a fair price

The key to a quick sale is not overpricing. Buyers will often disregard an overpriced property even if you drop the price later, while properties priced realistically are more likely to generate multiple offers. And once the offers roll in, so too does buyer emotion, which can often drive the price up.

2. Choose the right sale type

Sale type is one of the most important aspects of a fast property transfer. Options vary from tender to auctions to private sales, but the goal remains the same: to get the right price at the right time.

3. Market, market, market

The more eyes on your property, the more buyer interest will be generated. If you want the best buyer and the best price, you must cover all your bases and make sure you have a complete marketing strategy to reach as many buyers as possible.

4. Be available

Selling fast requires a lot of commitment. The key is to be available and ensure the property is always kept in a presentable state.

5. Consider providing property inspection reports

Property inspection reports are usually carried out before a property sale is finalised or contracts are exchanged. To help speed things up you could consider investing in building, pest or strata pre-purchase inspection reports by licensed professionals.

6. Consider all offers

While lowball offers may be considered offensive, they should not be instantly dismissed. Buyers may try their luck with a low offer but have the means to go much higher. Instead of ignoring these offers, respond with a reasonable counter-offer.

7. Prioritise cash-only buyers

Loan approvals can slow down the buying and selling process, as they are typically subject to conditions. A cash offer means that the buyer has the cash to purchase the property outright without needing approval for a loan, therefore making cash-only offers very appealing for a quick sale.

8. Stipulate a short settlement period

Property settlement is a legal process in which ownership passes from the seller to the buyer. A good idea to stipulate your ideal settlement period in the contract for sale, while also being prepared to negotiate if necessary. 

9. Get professional support

Selling a property can be a complicated and drawn-out process. But it doesn’t have to be. If you’re thinking about putting your property on the market in hopes of a quick sale, the best strategy you can put in place is to enlist a seasoned real estate professional.

A good agent will have an array of marketing tools in their belt, an up-to-date understanding of current market conditions, and a network of contacts to help get as many eyes on your property as soon as possible. What’s more, they will keep a level head and be by your side throughout the negotiation process.

Carolyn Wheatley is a skilled negotiator with thorough knowledge of the local market and is committed to achieving the best outcome for you at every step of the journey. Contact Carolyn on 0407 120 483 or [email protected]

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