This refers to the initial step where a professional evaluates the worth of your property. It’s crucial to determine a competitive price for the market.
Before listing the property, it’s documented in detail. Measurements ensure accuracy in listings, photographs showcase the property, and the write-up provides potential buyers with a description.
The deeds prove ownership and are necessary for the legal transfer of property. Having them ready speeds up the process.
You should gather all relevant documents, including certificates of compliance which certify the property meets certain standards, and any exemption certificates if applicable.
This step involves advertising your property to potential buyers. It might be listed on websites, in estate agent windows, or in newspapers.
Potential buyers will want to see the property in person. Viewings will be arranged at times that are convenient for you to ensure minimal disruption.
Bids can be made online any time of the day, all year round. This system allows for a wide range of potential buyers from different locations to participate.
This refers to a set time frame during which bids can be placed on your property. Once the clock runs out, no more bids can be placed.
Once bids are in or an offer is made, the seller has the right to accept or decline. If terms are agreed upon by both parties, the sale is then “agreed.”
This is a deposit paid by the buyer to secure the property. It shows their intent to follow through with the purchase.
After the booking deposit is received, formal contracts are drawn up and issued. These detail the terms of sale and the legal obligations of both parties.
Sometimes, an initial smaller deposit is taken when the sale is agreed, followed by a larger deposit upon contract exchange. The steps might vary based on the specific agreement.
About 3 to 5 weeks after agreeing on the sale, buyers sign the contracts and pay a non-refundable deposit. Once the vendor (seller) counter-signs, the sale is legally binding.
This is the date when the property officially changes ownership. Payments are finalized, and keys are handed over.
Not always. While a date is agreed upon, various factors can cause changes. It’s noted that these dates are not set in stone.