As I mentioned in last week’s article, I have been on the open home circuit searching for a property to buy. Having looked at many properties and many Contracts over the past couple of months, here are five tips that people often forget when taking their property to market:
- Illegal/unapproved building work.
Any solicitor who is acting for a purchaser will ask you about any work that you have completed that was not approved by Council. If you know you have done work that was not approved, disclose it in your Contract so a purchaser cannot complain about it. - Be prepared for the pest and building report.
When a buyer buys a property they take it as it is. This means that any negotiations as to the property’s condition happen before the cooling off period expires. The purchaser will get a pest and building report and it will reveal problems. You might consider conducting your own pest and building report so you are aware of what might come up and so you can rectify any issues before your property goes to market. - Cleanliness.
A seller is required to give a purchaser a property at settlement in the same or similar condition as it was when it was first inspected. Despite this I often deal with outraged purchasers who aren’t happy with the state of cleanliness of a property at settlement. To avoid any unnecessary delays at settlement, keep the lawns mowed and the house clean so your buyer has nothing to complain about. - Utilise your agent.
This isn’t so much a legal suggestion but an important one. Agents are critical in the sales process. They are in a unique position to be able to speak to both seller and buyer. Tell your agent you are happy to have a meet and greet with the buyer before settlement to provide them with any copies of any documents you have such as warranties for appliances and share with them any expert knowledge you have about the property for example how to work the air conditioning system or reset the codes for the alarm.
