Make that Sale!
Once buyers start viewing your property you are on the way to making a sale. The next steps are:
Negotiating and Accepting an Offer
It is the role of your real estate agent to conduct all negotiations. Do not negotiate directly with any prospective buyers, always redirect them to your agent if they contact you.
When an offer is made, the agent will put the offer in writing, signed by the buyer. The agent will then present this offer to you. If you are not pleased by the offer you make a "counter-offer" at a price acceptable to you. Your agent will then take this "counter-offer" to the buyer who will either withdraw their offer or match your asking price.
If you do wish to accept the offer, do this as soon as possible. At any time prior to your acceptance a buyer can withdraw their offer. Upon accepting an offer you will be asked to sign a contract agreeing to the sale.
Top of pageWhen you sell property, it is your responsibility to prepare all necessary contracts. We recommend engaging a solicitor to prepare these contracts, as part of the conveyancing process.
Your solicitor and real estate agent will advise you on all the documentation necessary for a property sale. Make sure you tell them of any special conditions or limitations you want on the sale. Examples of common conditions that are incorporated into contracts are:
- Identity - A provision limiting the buyer’s right to complain if there is a mistake in the description of the property, other than one of a very serious nature.
- Planning - A condition stating that the property is sold subject to all relevant planning regulations.
- Auction - If you sell at auction there will be specific conditions which will need to be put into the contract, including that the highest bidder sign the contract immediately and that the auctioneer has the right to resolve any disputes between bidders.
- Other - This may include a list of chattels you wish to remove from the property as well as a suitable settlement date.
The contract becomes legally binding once signed by both parties, i.e. you and the buyer. A holding deposit may also be paid to you at this stage. There is no legal requirement to pay such a deposit, but it has become an accepted act of good faith by the buyer.
The settlement date is the day you hand over possession of the property. In legal terms, settlement is the completion of the transaction. On settlement day the balance of the purchase price is paid to you, and the title deeds (legal documents stating property ownership) and keys are handed over.
Soon it will be time to move. Don't wait until the last minute to get organised! Click here for handy tips on moving.
 Agent |
|||||||||||||
|
|||||||||||||
 |
 |
 |
|||||||||||
 Property Overview |
||||||||||||||||||||
|
||||||||||||||||||||
|
|
|
|
||||||||||||||||||
| Mortgage Calculator |
||
|
|
||
|
|
|
|
