Frequently Asked Questions (Selling)

How much will it cost to sell my property?

The major costs involved in selling your property consist of:

  • Costs associated with preparing your property for sale (cleaning, repairs, styling etc)
  • Legal fees for the conveyancing/kegal process
  • Marketing and advertising costs
  • Real Estate Agent professional fee

Give your Elevate agent a call for more succinct answers to these questions as they vary depending on individual circumstances. Or if you prefer, read this article which may clarify a few points for you: click here

Do I need to redecorate or renovate before I put my property on the market?

It is not essential to redecorate your property before placing it on the market, however, if an area is in need of a touch- up of paint or any other cosmetic improvement this will appeal to potential buyers. Presentation in photographs and in person is what will Elevate your sale price. All buyer ‘senses’ need to be stimulated and especially the visual aspect will enhance their opinion on your property.

Who will conduct open for inspections on my property and when will they occur?

Your Elevate estate agent will attend all viewings during their opening hours. They may offer longer opening hours to maximise viewing potential where required. Don’t go for an agent with too many listings on their books otherwise you will ultimately end up having their assistants handling your sale. A good idea is to attend agents viewings and review their professionalism in real life when talking to buyers.

Do I need to be present for viewings?

Your Elevate estate agent will be attending all viewings and they will ensure with you that they have access codes, keys and remotes for your property and your presence is not required.

It is worth noting that buyers often feel more relaxed when the owner is not present and they speak more openly about the properties and its many different attributes.

If I accept an offer will my property still be viewed?

This depends on the conditions of the offer and what your preferences are. Once Contracts are exchanged the property is considered SOLD. Elevaterecommends showing your property right up until exchange has taken place.

What are the different methods of selling a property?

The two main methods are:

  • Auction – whereby buyers compete at a specific time and date for your property. This is a preferred method in a boom market or for a keenly sought after location.
  • Private treaty – where the price is negotiated with potential buyers. Usually the method preferred when comparable sales are readily available.

Do I have to pay Stamp Duty?

No, the buyer is responsible for paying Stamp Duty.

When do I have to move out?

On the completion date, which is mutually agreed by yourself and the buyer. A typical completion date is 6 weeks from the date of Contracts were exchanged, however depending on your circumstances and negotiation, this may vary.

Do I have to pay Capital Gains Tax on the property?

If you are selling a property that is your principal place of residence, you may be exempt from capital gains tax. However, if you are selling a property that is not your principal place of residence,  you may be liable for capital gains tax.

It is recommended you get specific advice from your Accountant. (see ATO website for further information)