Are you thinking of selling?
With Stage 4 Lockdown the real estate industry is in partial “hibernation”, but as we wrote last week, for Vendors, this is a time to prepare your house and aim to be amongst the first online in Spring when the market “opens”.
It’s the view of agents we work with that the build-up of demand is likely to follow the New Zealand experience post stage four where median house prices saw a solid increase.
Here’s a typical Vendor timeline, why you should start now and not sit on your hands over the next month;
- Appoint an Agent – 1 – 2 weeks
- Secure tradespeople (hard to get) and book in the work – 1 week
- Get the jobs done – 1 week
- Photos/Staging 1-2 weeks
- Auction/Private Sale Campaign 1 month
- Settlement 1 – 2 months (maybe longer)
- TOTAL: 4 months!
Some of these can be worked on simultaneously, but if you do nothing during the lockdown you may not receive the proceeds of your sale until 2021! We can show you how to minimise the timeline, and as your Vendor Advocate, there is no charge to you!
Are you thinking of buying?
While you cant look inside houses, thanks to Dr Google there is still a lot of preparation you can do:
- Pick your area – drive around if in the lockdown 5klm limit.
- Research the suburbs you prefer on the real estate portals.
- Secure your finance in writing, ready to go. Why? – well, when the market opens, and there is competition, vendors will generally prefer an unconditional contract. The shortage of good stock will, in our view, continue.
- Research past sales and anything that may be listed now for price guides.
- Study the floor-plan and land size online
- Research public transport – does it fit your needs?
Call us at ela Property Advocates via Zoom and discuss how we can assist you in achieving a successful sale or purchase in today’s market. Guy Angwin 0412 022 998 E: guyjohn@iinet.net.au or Geoff Briscoe 0419 740 351 E: geoffbriscoe@tpg.com.au
