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Selling Property Frequently Asked Questions

Q: How much is my property worth?

A: A Fusion Realty real estate agent would be happy to provide a complimentary market opinion at a time that suits you, please feel free to request an appraisal here now.

Q: When is the best time to place a property on the market?

A: TAnytime if you have a need to move or to reduce debt. However if time is on your side you should consider that property prices do fluctuate up and down like the share market. This is difficult to see on a daily bases, our team live and breathe real estate so are closely attuned to what the market is doing. Most Real Estate values are affected by supply and demand. There are always exceptions to this rule and some seasonal and economic factors that you may want to consider which could work in your favour or work against you for achieving a higher price for your property. Some houses are better suited to certain times of year (for example a great spring garden, a summer time pool or a northerly aspect in winter).

Most franchised Real Estate Agents recommend to sell in spring, which can cause an oversupply of property on the market which can weaken prices. Another important factor is the types of buyers that Fusion Realty can attract to your property. E.g. Overseas investors, interstate transients moving as careers change, investors who are cashed up needing to invest, and qualified buyers from our database who are ready to buy but have not been able to purchase due to a lack of supply in their desired property type.

Q: How long should it take to sell my house?

A: Once your home is placed on the market, the length of time it takes to sell depends on a number of circumstances. Contributing factors may be Price, Location and the current Market. A Fusion real estate agent can give a general estimation on the approximate number time that it will take to sell.
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Q: Why do I need Fusion Realty to sell my property?

A: It is not a legal requirement to use an agent to sell your property - you may elect to undertake the process yourself. However, there are many reasons why people generally engage the services of a professional to ensure the best price.

A property owner may chose to try and save money by not using a real estate agent. Quiet often the reverse is true, it costs the property owner more when they do not use a Real Estate Agent, and the property owners place themselves at increased risk of expensive litigation as there are a few ambulance chasing lawyers who will have no problems seeking damages from a property seller who misrepresents an important fact about the property being sold. Silence is not a defence, if you leave out or do not disclose a crucial piece of information. Mistakes are made with the advertising, mistakes are made when setting an asking price, mistakes are made in negotiating the final price, and mistakes are made by sellers about contract conditions, and end up being sued from a purchaser. Fusion Realty will take the stress out of selling and dealing with buyers and there solicitors.

Fusion Realty will take out a lot of the "hard work" and pressure, which allows you to feel more relaxed and confident with the sale of your home.

Q: Should I sell by auction or private treaty ("for sale")?

A: The Auction method for selling real estate is best suited to persons who have an urgent need to sell where the final selling price is less important than the time available to sell. Auctions are preferred by most real estate agents as it helps promote their business more than it promotes the property, and the owner pays for it all. Other circumstances where the Auction method of selling may suite your property is when your property is unique or is a rare opportunity for a property buyer to purchase your type of property. If there is a legal dispute or a potential legal disputed over the selling proceeds, like a divorce, or a deceased estate then the Auction method is advisable. Otherwise you are better served selling by Private Treaty (For Sale) as it is technically known. To fully comprehend which method is better for you it is best explained in person to find out more talk to one of our experienced agents to work through all the finer points with you.
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Q: Can I sell my property while it is currently leased?

A: Yes you can sell your property while it is currently being leased, but any potential purchaser must be told there is a current lease in place and that the property will not be sold with vacant possession.

The tenant has the right to occupy the residence until the end of the lease term, unless both parties negotiate and agree to terminate the existing agreement.

In some cases, the fact your property has reliable tenants in place may actually be appealing to prospective investors.

Q: What is a contract for the sale of land? (Contract of Sale)

A: A brief description for a contract of sale is that it is a seller's disclosure document containing a copy of the title documents, drainage diagram and the Zoning Certificate issued by the local council. A property owner must disclose to any potential real estate buyers known faults, encumbrances, or any other thing that may affect the property value. Property exclusions must also be included and a statement of the buyer's cooling off rights must be attached. A residential property cannot be advertised for sale until a Contract of Sale has been prepared.

Q: What Type of agency agreement should I consider?

A: There are several different kinds of agency agreements for the sale of residential property. The answer to this question depends on the method of sale chosen. The following is an example of the most common type of agreements.

Exclusive agency agreements

Exclusive agency agreements are commonly used for the sale of residential property when it is being sold by Private Treaty. (The For Sale Method)

Auction agency agreement

This is effectively an exclusive agency agreement where the property is listed for auction, but may have a provision for a reserve price to be set (used when auctioning a property).

Before deciding what method of sale is appropriate for your property we would recommend that you contact us for an obligation free chat. This could make you thousands of extra dollars when you sell, and save you money in advertising resulting in you collecting the most money from the sale.

Q: Pest and Building Inspections

A: When prospective buyers become serious about pursuing the purchase of your property, many will engage professional companies to conduct building and pest inspections. These inspections are not compulsory and are the responsibility of the buyer. The buyer needs to ensure that if they intend to have these inspections conducted; arrangements need to be made prior to signing the contract of sale or bidding at auction Sellers should prepare themselves for visits from such professionals/companies which will usually take place during business hours - sellers will most likely be able to work with their Fusion real estate agent to arrange access to the property.

Important Notice/Disclaimer:
This website and webpage along with the frequently ask questions is for general informational purposes only and is not intended to provide commercial, financial, investment, accounting, tax or legal advice. It is provided to you for your own personal use. The information provided is of a general nature only and has not taken into account your specific objectives, needs and financial situation. The information may not be appropriate to your individual needs and you should seek advice from your financial adviser before making any financial decisions.