Property finance for sellers
If you plan to buy a new property before selling your home, you may need to arrange a loan to cover the cost.
You may face a financial gap if you plan to use proceeds from the sale of your home to pay for the new property, and settlement for your new property is before settlement of your home. A bridging loan can cover this financial gap.
If possible, negotiate the settlement dates to ensure you have the proceeds from your home to pay for your new property, rather than get bridging finance. Bridging finance is often much more expensive than an ordinary home loan.
The Australian Securities and Investments Commission's consumer website, MoneySmart, has tools to help you work out your budget and investigate home loans and finance.
Presenting your property for sale
It is natural to want to present your property in the best possible light. First impressions count, so it is a good idea to mow the lawn, place a few plants in the garden, keep the house clean and tidy, and add a lick of paint.
While it is acceptable to present a property in a good light, it is not acceptable to cover up, misrepresent or in any way mislead a buyer about its true condition.
Open for inspection/open houses
If there is anything you do not want the public to see, hide it from view. Lock your valuables away.
Your agent may ask anyone entering the property for proof of identity and contact details. This is a security measure. It also can provide the agent with a database of potential buyers.
It is not a legal requirement for people to leave their details with an agent at an open house, but you can make this a condition of entry to your property.
Selling an owner-built house
There are specific legal requirements for selling a property you built yourself or managed contractor to build on your behalf.
For more information, view our Owner builders page.
- When you give your estate agent a price at which you are willing to sell your home, the agent cannot advertise it at less than this price.
- If you choose not to provide your estate agent with a selling price, then your agent must make an estimate of the property’s likely selling price, using their experience and knowledge of the market.
- The estimated selling price an agent gives you cannot misrepresent the price at which they believe the property may sell.
- The agent should seek your written approval:
- of the price or range at which your home is to be advertised
- that you will consider offers at that price or for all prices within that range.