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Frequently Asked Questions with Alan Zhang

By Marguerita Black

Frequently Asked Questions with Alan Zhang:

Our wonderful agent Alan Zhang sat down with our Marketing Team to go over the most frequently asked questions and concerns that go hand in hand with selling a property.

1) When is the best time to sell my home?
The best time to sell your home is when you’re ready.
Selling your home is a very personal decision and should not be dependant on seasonal factors.

2) What steps should I take to prepare my home for sale?
This can be very dependant on each property and the individuality of your current situation. Basic steps to prepare your home for sale can include decluttering and starting to prepare yourself for your moving date, putting some thought into temporary storage solutions for big pieces of furniture or other cumbersome items that may get in the way of staging your home for presentation and putting some research into other solutions such as eliminating odours (from animals, smoking etc), putting a fresh touch to fixtures, fittings and/or hardware and perhaps hiring a company to stage your home for photos and open homes.

3) What is a settlement period?
Settlement period is time between the day the property sells and the day the ownership changes. Settlement periods in most cases range between 30 and 120 days. Vendors will communicate their preferred settlement period to their Agent, who will communicate this with prospective buyers. Any variation to the terms needs to be agreed to by both vendor and purchaser before the contract is signed and exchanged.

4) How much does all of this cost ? 
Selling your property is one of the most exciting and critical decisions you will make.
In Victoria, there isn’t a set scale for commission, therefore selling fees are negotiated between the agent and the seller.  Fees are based on a number of factors that differentiate between each and every sales campaign.
The Ray White Group always provide a competitive selling initiative and will always ensure that the price is negotiated based on what the clients needs are and what needs to be met.

5) How do you determine how much my property is worth ?
Every home is different and unique, therefore, your house will be valued based on a variety of different factors. Primarily however, your agent will examine the latest comparable sales within your area to come up with a likely selling range.

6) Why is marketing important ?
Marketing is an intrinsic component to any property campaign as it enables Ray White Glen Waverley to ensure your property reaches the largest audience. The wider the target market, the greater opportunity we have to create competition. It is only through competition that the premium price can be achieved for your property.
As a team, we have the ability to accommodate and adjust each campaign to suit the needs of the vendor. With tight-knit relationships across the board with media, print and digital platforms, there is every opportunity to provide you with the campaign you’ve dreamed of at the most competitive price

7) Is there a cooling off period after an auction ?
There is no cooling off period after an auction. Private sales have a cooling off period of three clear business days from when a Purchaser signs a Contract of Sale to purchase a property. Your agent will be able to provide you with in depth information on more regarding auction rules and regulations.

8) What type of legal advice should I seek prior to selling my home ?
Your selected agent can provide you with a recommended solicitor/conveyancer that will be able to provide you with all the supportive documents required to prepare the relevant selling documents.

9) What’s a reserve price and how do I set one ?
The reserve price is the minimised price you authorise the agent to sell your home for. Your reserve price is communicated with the agent on auction day and will generally take into account a number of factors including recent sales in your area and offers received for the property. For a private sale, you communicate your reserve price at the time of listing and this forms your asking price.

10) What happens after I sell ?
Once you have sold, we will forward the contract of sale to solicitor/conveyancer for both yourself and the purchaser. From there they will communicate to coordinate the settlement day. Your Ray White agent will keep in contact during the settlement period and in the week prior to settlement, the agent will bring the buyer for a final inspection.

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