Market conditions can change from month to month, let alone from season to season, but Spring and Autumn are the most popular times to sell. Bear in mind though, more available buyers will probably encourage more stock to the market at those times; increasing your competition. Many factors play a significant role in determining when people choose to buy and sell, so this means that it is possible to sell a property at ANY TIME of year if necessary.

Private sale

The property is either advertised with a price range or to contact the agent and interested buyers can make an offer by signing the contract of sale. The seller and buyer negotiate on a price – usually through an estate agent – and the contract can be conditional, subject to a building inspection report or obtaining a loan. For residential and rural properties less than 20 hectares, there is a cooling off period of three business days. 

Auction

A public sale held at a specific place, time and date after a marketing campaign over several weeks. An estate agent acting as an auctioneer conducts the auction, which is governed by strict rules. Buyers call out bids to the auctioneer, who can also make vendor bids to move the auction along. The auctioneer will announce the property is “selling” or “on the market” when it reaches vendor’s reserve and knock it down to the highest bidder after calling it three times. If the bid fall short of the reserve, the property is passed in to the highest bidder, who has exclusive rights to negotiate with the vendor. 

Expression of interest/Tender 

This sales method can vary from agency to agency and may not be as rigid as what some property websites say. Prospective buyers are invited to make offers by a specific time and date over a marketing campaign spanning several weeks, but the buyer and seller can reach an agreement before then. Serious buyers put forward their best and final offer in writing, which can include terms and conditions such as settlement dates and finance conditions. If no acceptable offers are received by the EOI closing date, the property could go back onto the market for private sale. 

Bathrooms and kitchens are sure to give the biggest bang for your buck in terms of dollars spent and buyer satisfaction, but keep it simple and of good quality; I have seen brand new kitchens in skips the day after settlement,

In-ground pools can add value but are not everyone’s choice due to their running and maintenance costs.

A COVERED outdoor area is important and can be a worthy investment.

Always remember to keep to a neutral palette of tones and colours and avoid any quirky or eccentric choices – not everyone will appreciate those purple kitchen cupboards the way that you do!