The Top 5 Residential Property Selling Mistakes and How to Steer Clear of Them

Talking to your lawyer too late

Just like buying a house, make sure you understand the agreement you are signing before you sign it. Once it has been signed, and subject to any conditions, you are legally bound to sell your property.

Tenants

If the purchaser wants the property to be vacant at settlement, you will need to provide your tenants with 90 days’ notice for them to vacate the property. Please contact us to discuss your options in relation to any tenants at your property.

Back-up offers

Make sure you talk to your lawyer before entering into a back-up agreement. If this is not done correctly, you may end up unintentionally selling your property to two different purchasers. Please contact us to discuss how you can do this properly.

Selling and buying

Thinking about moving somewhere new? Timing for selling and buying is everything. To avoid a stressful situation e.g. you’ve entered into an unconditional agreement to sell your current house but have not entered into an unconditional agreement for your next purchase, please contact us to ensure you have the necessary conditions to protect you during this process. Selling and buying at the same time is very common, and with the right expertise your experience can be made a smooth one. If you do not line everything up correctly, you may need to arrange for bridging finance or pay default interest because you are unable to purchase or sell your property.  

Selling without having another property to live in

If you are planning on cashing up and then moving somewhere else, it is best to consider all your options and understand that once you are out of the market it can be difficult to jump back in. The last three years have shown us that the market can move quickly and unpredictably.

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