“To sell my house fast at the right price” is every seller’s objective, but how exactly do you speed up the sale of your home?
Our tutorial on how to sell a property in South Africa is an overview of the selling process, but the following advice and tips will ensure you sell your property as fast as possible:
How to Find a Buyer Quickly
- Get the maximum advertising exposure
Make sure your property is marketed on all 4 of SA’s major property portals viz. Property24, Private Property, Gumtree and IOLProperty, to improve your chances of getting viewings.
- Use a decent estate agency rather than sell privately
The right estate agency will give you good advice and wide marketing exposure, and help you avoid the stigma of a private sale which discourages some potential buyers from making offers.
- Price your property attractively
With the wealth of property information now available online, buyers have an extremely good idea of what your property is worth. When a property is first listed on the portals, an alert is sent to all the potential buyers who have already expressed an interest in your area. If your price is not market-related, all this initial buzz will come to nothing … and you will never get it back! You cannot sell your property quickly if the initial price is too high.
- Choose the correct time of year to begin marketing
In South Africa there is typically much more demand for properties in the warmer months of the year, apart from December and early January when everyone is in holiday mode. Winter is associated with rain in the Western Cape (making viewings difficult to arrange) and brown lawns in Gauteng (making properties with gardens less attractive), quite apart from the fact that the days are shorter (meaning fewer viewing hours available). Buyers seem to prefer to take major decisions about moving house at the end of the school year or when a new year starts.Therefore, to sell faster, don’t start marketing your property in mid-winter (although you will have less competition).
- Use high-quality photos to create the right impression
This is the single best investment in time (if you do it yourself) or money (if you pay a photographer) you can make to increase the number of viewing requests. More viewers means more buyers.
- Make sure your property looks good on the outside and on the inside
We have a tutorial on this aspect here: Home Staging Secrets to Sell a House.If you do have things that need fixing, rather sort those out yourself before the property is marketed. It is far easier to sell a home fast if it is in good shape and the buyers can just move in. Otherwise, the buyers have to estimate what the repairs will cost and this creates uncertainty – which either means the buyers will take longer to make a decision, walk away completely, or offer a discounted price to account for the risks associated with the repairs.
How to Make the Post-sale Process Fast
The post-sale period runs from the date you accept an offer from a buyer to the date the property is transferred into the buyer’s name (which is when you get the proceeds from the sale into your bank account). This legal process is managed by a conveyancer (a specialised property lawyer).
- Conditional versus Cash Offers
One way to shorten the post-sale period is to only accept cash (unconditional) offers from buyers. This would mean that you won’t have to wait to hear about your buyer’s bond application (the most common condition in an offer) before the process can continue. In this way, you could save a week or three in the conveyancing process.On the flipside, if you restrict yourself to cash-only offers then you may have to wait longer to receive such an offer than if you accept a conditional offer e.g. one that is subject to bond approval.
- Choice of conveyancer
The other aspect of the post-sale process that is within your control is the choice of conveyancer to manage the legal process. As the seller, you can choose your conveyancer – even though the buyer pays the conveyancing costs – so choose wisely. If the conveyancer is not on the ball or has poor communication skills then the process will not only drag on unnecessarily but will also be far more stressful than it should be.
We have mentioned various tips that can help you to sell a house fast. If you need advice, contact us. We have a proven track record of selling quickly in South Africa!