Ideally, when you sell your home, you will do so with time on your side. However, sometimes you need to sell, now.
This is certainly the case for expat property owners who find themselves faced with the need to sell before June 30, 2020 so they don’t have to pay massive capital gains tax.
Read more about capital gains tax changes for expats here.
So how do you set yourself up for a fast property sale? Here are five quick steps.
Call in reinforcements
Ring your mortgage broker and reach out to your accountant and financial planner to discuss what you want to achieve and when.
These professionals will be able to jump into action and let you know what’s possible when it comes to accessing capital and/or financing another loan.
Of course, you also need to speak to your real estate agent as soon as possible. Be clear on your hopes for a sell-by date and talk to them about a realistic price range given the current market and your need to sell quickly.
Your agent could explain that you may have to be a little flexible on price in order to secure a fast sale result, however they will have more than one trick up their sleeve to help you achieve top dollar.
If you want price comparisons, invite a maximum of three agents to view your home. This will help save time deciding who you want to represent you.
Get prepped
If you need to sell your home quickly, now is not the time to agonise over your belongings or hesitate over multiple quotes from tradespeople.
Call in the declutterers, the cleaners and the handyman to get as many people as you can working on your home simultaneously. Better yet, get your agent to make a recommendation. They will know the service providers who are reliable and who will take your desire for a quick home sale seriously.
If you don’t have time to fix everything up that needs doing, opt for a fresh coat of paint and a pressure wash of the front of the house. This will maximise the first impression and make your place that little bit more appealing.
If you can quickly move a few things into storage and get a stylist to deliver some key contemporary pieces of furniture to make your home look modern and inviting, all the better.
Set your price
As mentioned, to benefit from a fast sale, you may need to compromise slightly on price. Have clear conversations with your agent about your absolute minimum so they will know which offers to present to you.
An unreasonably high price won’t result in a fast sale, however the good news is property buyers are very motivated right now. You may find there are buyers who are willing to put in a top offer early so they don’t miss out.
Call the contacts
Ideally, your real estate agent will have an extensive list of buyers who have recently missed out on properties in the Mosman area.
If you don’t have time for a big marketing campaign, several open homes and a massive auction, selling off-market could be a safer option. In these circumstances, your agent will call up a few parties they know would be interested and let them know the house is available. They will schedule a private viewing and begin taking offers.
Your agent should also reach out to their overseas contacts. Often these investors have no problems accessing the cash they need to make a confident bid.
Be open to early offers
The good news when it comes to seeking a quick home sale, and a lesson many sellers learn the hard way, is that often the very first couple of offers you receive are the best ones you will get.
Many home sellers kick themselves for not taking the first offer when they realise a better one isn’t coming along.
Keep in touch with your agent when these offers come in and seek their opinion. If they think the offer is a good one and you know they have a great deal of experience in your local area, listen to their advice. They can’t make up your mind for you but they can present data-based evidence which will help you come to the right conclusion.
Many properties in Mosman are selling within eight weeks of being listed. If you’re after a fast sale, contact your local real estate agent today.
