You’re ready to settle down with your family in a small plot of land in a master-planned community. You have enough savings to cover the deposit and your mortgage have already been processed. For all intents and purposes, you are ready to move into your forever home.
One big question remains, though: What happens to your previous property? If you’ve decided to sell, these people help you with a smooth ownership transition:
The bulk of the selling process can be handled by yourself personally or by a team of estate agents who are more adept in everything related to the real estate market in Townsville. There are pros and cons to listing your property through an agency and to selling it privately. It all comes down to whether you have the time to commit to the selling. For those who would rather spend time getting their affairs in order and settling into their new house, it’s a matter of convenience and they will choose to get help.
Those who have a freer schedule and who would like to keep all the profit from the sale will forgo an agent and sell the property on their own. Should you choose to do this, prepare an ad listing showing the property in the best light and take pictures of each room so that prospective clients will not be left wanting. You will also need to brush up on real estate terms so you can list your house properly. If it is not showing up in the right categories because you did not set up everything properly, not all potential clients will see it.
It may take days in a busy place such as Townsville to sell a house. It could also take months depending on the desirability of your property and on whether you have decided to renovate it before selling. After the long wait and the laborious scheduling, you’re ready to turn over the property to the new owners. That means you need conveyancing lawyers to draw up the papers, transferring ownership of the property. This is something that benefits both parties to complete as soon as possible, especially if the sale was paid for in cash.
A property that is tied to your name will affect your tax payments as well as your loan applications. To clear yourself off these burdens, have a reputable team of lawyers ready with the legal documents as soon as the sale is finalised. For transactions to be granted through a lien or mortgage, lawyers still need to be involved to check the validity of documents. You will need everything written down clearly in case anyone violates the provisions you have agreed upon. A verbal agreement will be hard to prove, but when you have the legal documents signed, you are protected from certain encumbrances.
Moving from one property to another seems easy enough if you just have to deal with transferring your stuff from one place to the next. When ownership of property is added to the mix, that’s when you need to be more meticulous.