• Start the journey to sell your house

    Whether you’re downsizing, upgrading, or simply in need of a change of scenery, there are a number of reasons you might be looking to sell your home.

    From starting the sale process to accepting an offer, we help simplify your home-selling journey by connecting you to the right services at the right time.

Preparing for sale

Couple sit on the couch while drinking tea
  • Understand the costs involved and the right time to sell

    As a property owner, deciding to sell is the biggest step in the process. Once you've made the decision, there’s plenty of work to be done.

    First, take a look at any minor home improvements you could make to increase the value and appeal of your property. A property valuation (a detailed inspection and report of the value of your home) can shed light on potential improvements you can make, which RACV Trades can assist with.

    You’ll then need to get to know the local market and investigate the right time to sell. This is something your real estate agent can help with, as well as listing your property for private sale or auction.

    Lastly, you’ll need to consider your budget. It’s important to understand the fees and other costs involved in selling your home, such as home repairs or renovations, real estate fees, home staging, photography and advertising, auction fees, conveyancing or legal fees, and moving costs.

  • Research checklist

    When selling your home, be mindful of:

    • The time of year
    • Your preferred sale method
    • How to prepare your property for sale
    • The cost of selling
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Valuing your property

  • How to find out the value of your house

    Organising a property valuation before listing your property can help you determine your asking price. During the valuation process, be sure to highlight any previous improvements you've made to your house, as well as any specific items you’d like to keep. A conveyancer can help you negotiate these details.

  • What impacts property value?

    The value of your property is determined by a number of factors including:

    • Market conditions
    • Property type
    • Prices of similar properties in your area

Exchange and settlement

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  • The journey doesn't end when you accept an offer

    Once you've accepted an offer on your property, your real estate agent and conveyancer will help you prepare for the buyer’s building inspection, negotiate the contract and finalise settlement.

    If you’re also looking to buy a new property, check out our recommendations to Buy a House to help you through the process.

  • Completing the property transaction

    After accepting an offer, the next three stages are the:

    • Exchange of contracts
    • Cooling off period
    • Settlement period
  1. 1

    The exchange of contracts

    This stage of the home selling process involves negotiating the final sale price and any conditions that need to be included before signing and exchanging the agreed contract with the buyer. Arrange a conveyancer to help with this.

  2. 2

    The cooling off period

    Once the buyer signs the contract (regardless of when you sign it), they’re given three business days as per Victorian legislation to change their mind, provided the property is being sold privately and was not sold less than three clear business days before auction.

    If the property is purchased at auction, there is no cooling off period.

  3. 3

    The settlement period

    This part of the process is where a conveyancer can help you with the bulk of the work. Settlement is usually between 30 to 90 days and in some instances, can be negotiated with the buyer. On settlement day, your conveyancer works with the buyer’s representatives to adjust any outgoing property costs (such as rates), before signing the final sale documents and transferring ownership of the property to the buyer. At this point, keys are handed over and the sale of your property is complete.

 

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Frequently asked questions

How do I go about selling a house in Australia?

  1. Research. Look at what other properties in your area are selling for and get to know your local market. Engaging a real estate agent can guide you on the right time to sell, along with current market trends and other information.
  2. Obtain a property valuation. This can highlight minor home improvements or repairs that could help increase the value of your property, as well as make it more aesthetically appealing to potential buyers.
  3. Calculate the costs associated with selling your house and work with your agent to get the property photographed and listed for private sale or auction. When it comes time to accept an offer, arranging a conveyancer will simplify the settlement process and get you closer to completing the sale.

How long does it take to sell a house?

When your property is listed for sale, the time it takes for you to start receiving offers depends on a number of factors, including:

  • Whether you opted for private sale or auction
  • The current state of the property market
  • Your asking price
  • And more.

After an offer has been accepted, the settlement process generally takes one to four months.

What costs are associated with selling a house?

Associated costs include:

  • Home repairs or renovations
  • Real estate fees
  • Home staging
  • Photography and advertising
  • Auction fees
  • Conveyancing or legal fees
  • Moving costs.

Costs will vary depending on the companies you choose to work with during the sale process.

What is a conveyancer and do I need one to sell my house?

You’re not obligated to seek the services of a conveyancer, but they can help take a lot of the guess work and confusion out of the selling process. A professional conveyancer helps you through the settlement process by handling your contract and the transfer of the property title. They make sure you’re meeting all legal obligations, and ensure any required conditions are included in the contract.

Do I need a building inspection prior to sale?

It’s always a good idea to arrange a building and pest inspection before selling a property so you’re aware of any potential problems that could affect your asking price.

While you may not wish to complete any repairs or improvements ahead of sale, existing damage and faults may impact your property valuation and potentially deter buyers from making an offer.

Should I renovate before I sell?

Renovations and home improvements can increase the value and overall appeal of your property, but it’s best to discuss potential home improvements with your real estate agent to determine if the renovations you plan to complete are likely to give you a return on your investment.

*The offer is redeemable for conveyancing services related to selling or buying a residential property. It is not redeemable for contract reviews. The offer is redeemable once per conveyancing service and cannot be combined with any other discount.

RACV Home Insurance is issued by Insurance Manufacturers of Australia Pty Limited ABN 93 004 208 084 AFS Licence No. 227678. The information on this website is general advice only so before making any decisions, please consider your own circumstances and the Product Disclosure Statement.