Real Estate

Quality Real Estate Investment Tips

Three things to Remember When Selling Your Home

Your house is likely the most valuable thing you own – not just in an emotional sense, but a financial one. That’s why you need to make sure you take the correct legal steps when you decide it’s time to sell. Here’s a handy checklist to help you through the process.

Three things to Remember When Selling Your Home

Here are some tips to stay on top of your home saleGet Your Paper in Order

Your house is likely the most valuable thing you own – not just in an emotional sense, but a financial one. That’s why you need to make sure you take the correct legal steps when you decide it’s time to sell. Here’s a handy checklist to help you through the process.

When you organise the sale contracts, make sure to include up to date certificates for drainage, zoning and any adverse affectation that can apply to your property. You have to give an accurate representation of your home to buyers, and this documentation will put them at ease about making the investment and moving in. If you don’t meet your Vendor Disclosure Requirements, a sale might not be completed – which can be awkward if you’ve already taken steps to purchase your next property.

Remember to have the contract for sale drawn up before you put your house on the market, by the way – failing to do this is breaking the law in some areas, including New South Wales.

Don’t Jump the Gun

It’s crucial to recognise the cooling off period when you make an agreement to sell the house. Buyers can often be hotheaded and make a decision they regret in a couple of days. Before you pop the champagne, wait for this period to end and for the deal to settle. Settlement can take up to six weeks, but the cooling off period is usually only about a week – it varies from state to state, however. The buyer will also forfeit some of their deposit if they withdraw in the cooling off period – usually about 0.25 per cent of the deposit.

Get the Gist of GST

Depending on the use of the property, you may have to pay GST upon its sale. This usually does not apply if the structure is being used for residential purposes, but a commercial building can incur the goods and services tax. Check with an expert to see what taxes will need to be paid when you sell.

There are many legal obligations to be aware of when you sell a home, but contacting an expert can help you work through this smoothly. Once you have your paperwork in order, buyers will feel at ease and be more than willing to take your home off your hands!

What to Look for in a Neighborhood

Before you embark on your house search it’s essential that you take the time to consider where you want to live. Why? Because your home is a big investment and location can make all the difference between finding a dream home that will give you years of enjoyment or a lemon. Here are some key considerations to help you determine the right neighborhood for you:

What to Look for in a Neighbourhood

Buying a home is a significant investment, so it’s important you find the right location.

Working out What you Want

So you’ve decided that low interest rates make it the perfect time to purchase your first home or upgrade to something a little bigger.

Before you embark on your house search it’s essential that you take the time to consider where you want to live. Why? Because your home is a big investment and location can make all the difference between finding a dream home that will give you years of enjoyment or a lemon.

Here are some key considerations to help you determine the right neighbourhood for you.

Pace of Life

If you’re young and looking for proximity to entertainment you may want to choose inner city. If the quieter life is more your cup of tea, look for city fringe suburbs or find out where some quieter pockets can be found in the city. Don’t be tempted into believing an acre block or inner city apartment will work for you if you know it does not suit the lifestyle you lead.

Family Plans

If you’ve got family, or are expecting to soon, it’s important to think about proximity to schools, child care and sporting facilities as well as transportation.

Employment

Find out what job opportunities exist in different locations and be sure to choose a location where the economy is growing and employment won’t be a problem. If you’re currently in work, make sure the commute in each day is not too draining or time consuming.

To Stay or to Sell

If you’re buying with intentions of settling in be sure to choose an area you really like that fits your lifestyle for the here and now but will also cater in the years ahead as your circumstances change. If on the other hand capital growth and re-sell are part of your plan you may be better off going head over heart and choosing a location that offers strong growth potential.

Remember, no neighborhood selection should come without a lot of research. Look into crime rates and be sure to find out if any big developments are in the pipeline in your area.

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