Sellers
Sellers
If you choose to use an agent they will typically recommend a method of sale based on the type and location of your property, market conditions and your timeframe and personal preference.
Through your agent you will be presented with offers from potential buyers of your property. You can reject or counter on the offers you are presented with. When you counter you enter into a negotiation with a buyer to agree on a sale price.
The contract of sale can be conditional. With your approval, the buyer can make the sale subject to obtaining a loan, a satisfactory building inspection report, pest inspection or other conditions. The law does not require contracts of sale to have a cooling-off period in Western Australia.
Price is determined by competitive bidding between the prospective buyers present.
The lowest price at which you are prepared to sell your property.
The agent’s commission is generally the same whether the property is sold by private sale or at auction.
The marketing campaign is paid for by the seller and undertaken by the agent. It aims to attract prospective buyers usually through signage on the property, brochures, flyers, home opens, online listings and can include advertising and direct notification.
Buyers
Some costs to consider when buying a property are legal and conveyancing fees, loan establishment fees, government charges, building and pest inspection fees, moving costs, and foreign buyers duty (if applicable).
A building inspection can identify repairs and maintenance requirements, and estimate some unforeseen costs.
If building work has been carried out on the property within the past 10 years, check if these works had council approval.
You can ask the selling agent (and get their response in writing) or by contacting the local council.
Consider maintenance, property rates & taxes, as well as building and contents insurance.
You may be eligible for first home owners grants (buyers of new homes), and for the home buyers assistance account.