It's All in the Details - Tips for Home Sellers
Category Advice
If you're planning to sell your home, you're most likely clued up on the basics... but have you thought about the details? We're going to take you through some of the responsibilities of a home seller that aren't so obvious.
Plan enough time for the deposit transfer
Keep in mind that if your buyer is paying a cash deposit, it is very likely that they will need enough notice to release the funds from their investment account. Although the buyer might have the funds available, it can take between 3 to 30 days (depending on the account) to make the payment. Discuss these details with your buyer beforehand, so that there's a clear understanding about when the deposit will need to be paid.
In the case of a full cash sale, it could even best suit you to make the payment of the deposit a suspensive condition - in other words, the payment has to be made before the agreement is valid. This will allow you to keep your property on the market until the sale is definite.
Agree on an occupational rental amount
Even though it's common for the occupation date to be the date of the transfer registration, it may occur that your buyer will want to move into your property before their transfer has gone through. This is why it's a good idea to agree on an occupational rental amount with your buyer in the Offer to Purchase. This will make later negotiations easier, if either the buyer or seller wants to change the occupation date.
Be transparent with your buyer
As much as it is the buyer's responsibility to inspect the condition of the property before committing to it, you as the home seller have a duty to disclose any known defects that aren't obvious to potential purchasers. Although there is no law stating that home sellers have to disclose clear issues with the house, it is ethical practice to be transparent with buyers.
Selling your home is complicated and can be stressful to plan on your own. Get in touch with SAproperty.com so we can work through it with you. Or, get the balling rolling by requesting a free evaluation on our website.
Author: SAproperty.com
