FAQ’S
need a question answered? read on below
What is the role of a real estate agent?
Real Estate Agents are qualified professionals that can help you sell your property. They are experts in the local and wider property market and provide informed property appraisals.
KR Property will help ensure your property is actively promoted and marketed to reach the maximum number of buyers. KR Property will assist in the negotiation of property sales and ensure this is done with the utmost confidentiality.
KR Property work for the property seller and are focused on selling it for the most amount of money.
who will conduct viewings of my property and when will the inspections occur?
KR Property will accompany all prospective buyers to your property during their viewing.
We like to arrive early to ‘set-up’ the property e.g. Open blinds, turn on lights, light a candle and arrange brochures and other goodies for buyers.
We will always provide you with notice of an appointment unless you have requested otherwise (e.g. the property is vacant).
do i need to be present for viewings?
It is worth noting that buyers often feel more relaxed when the owner is not present. Buyers do not wish to intrude on the current owner’s space, so your presence can sometimes act as a deterrent for them to stay longer and continue to consider the property carefully.
KR Property will accompany prospective buyers to all viewings as they will have the access codes and keys for your property and your presence is not required.
do i need to redecorate before putting my property on the market?
It is not essential to redecorate your property before placing it on the market.
However, if an area needs a lick of paint or repairs are needed, I recommend sellers attend to this so that buyers are not focusing on jobs they will need to do if they buy the property.
Presenting your home in its best possible state will increase the appeal to potential buyers.
how much will it cost to sell my property?
The costs involved in selling your property consist of:
Estate Agent Commission
Commission fees are negotiable and usually based on a percentage of the sale price. This becomes payable once settlement has taken place your property.
Marketing Contribution
Your Marketing Contribution as per your advertising schedule becomes payable on issue of invoice.
Legal Fees for The Conveyancing Process
These vary depending on the solicitor you choose.
how will buyers be attracted to my property?
KR Property will prepare a marketing plan for you; this is something that comes from experience. The plan will be the best way to attract potential buyers and may include the following:
- Professional Photography if required
- Professional Floor Plans if required
- Professional rendering and enhancement of photography
- Professional virtual furniture enhancement if required
- Full colour signboard at the property if required
- Upload to major websites as a Premier Listing (realestate.com.au, domain.com.au, krproperty.com.au)
- Social media advertising
- As many Open Homes as required
do i have to pay capital gains tax on the property?
If you are selling a property that is your main home, also known as your principal place of residence, you will not have to pay tax on it if you satisfy certain conditions.
However, if you are selling a property that is not your main home, it is likely you may have to pay Capital Gains Tax. If you are unsure, then I would recommend you speak to your tax advisor or the ATO to clarify the status of the property.
why should i choose a local agent?
For most people, selling a property is a major decision and for many, a once in a lifetime decision.
Properties are often purchased by people you might know, especially in a small country town, which can sometimes be uncomfortable.
An agent can negotiate on your behalf and give you some breathing room to ensure that you make good decisions.
It is always better to use a local agent as they have the buyers for that area, they are familiar with the locality and they know the properties that are in competition.
what is the agent’s role at an open house?
At an open house inspection KR Property listen closely and observe prospective buyers to gauge interest and motivation.
By engaging in conversation, we will learn more about a potential buyer’s specific circumstances and requirements. This helps us create discussions around the aspects of the property relevant to the buyer.
At the same time, buyers may need to view the property without pressure and talk about it with someone they have brought along. A good agent will be aware of this and only engage in conversation at appropriate moments.
why do you need my keys and how will you look after them? Who will have access to them?
We will need keys to access your property to show your home to prospective buyers.
We will always provide you with notice of an appointment unless you have requested otherwise (e.g. the property is vacant).
All keys are allocated a key-tag number and are locked away in a secure cabinet. Your name and address are not tagged to the keys. Ever.
what factors impact the price of my home?
Here are some factors to consider in receiving the highest price for your property…
- Current Market Conditions
- The knowledge and experience of your real estate agent (this will have a larger impact on the sale price than you may think)
- The property itself, such as the size of the land and home, the condition, landscaping, the quality of the interior and floorplan
- Other factors to consider include location, school zones, special amenities and future growth of the area
- Recent sales of comparable houses in the area
- The buyers and vendors level of motivation.
if i accept an offer, will my property still be viewed?
KR Property actively markets a property up until the point contracts are exchanged unconditionally. This means we will conduct viewings on your property. We do this because until a contract is unconditional, the property is not ‘sold’. The buyer could still withdraw from the purchase and so it is in your best interest to continue to market the property.
what are my title deeds?
Your Title Deeds are proof of ownership of your property.
They will be held by your bank or building society if you have a mortgage and your solicitor will obtain the deeds and let the buyer’s solicitor have a copy.
Do I have to pay stamp duty?
The purchaser of a property pays stamp duty and the amount of stamp duty payable will depend on the price of the property and whether the property is for investment purposes or to live in.
You can estimate the amount of stamp duty payable here.
When the property is sold, when do I have to move out?
The date a seller moves out of a home is usually on the completion date, which is the date of settlement. On this date the property legally becomes the possession of the buyer.
In some instances, buyers and sellers negotiate a different date. If you would like to remain in the house after the completion date, this is something you would negotiate with the buyer. KR Property can assist with negotiations if this is something you would like to include in the sale.