Selling the family home
Our consistent advice is to commence the process of selling the family home early – at least 12 months before you expect to sell.
The first step is to get a no obligation valuation of the home plus advice on what repairs and other steps may be required to maximize the sale experience – a fast sale at a responsible price.
The valuation and advice establish a path to prepare the home; you have time to discuss and implement plans.
You will need;
- Title deeds to the property
- A solicitor to develop the contract and conveyancing
- Access to bank accounts to transact money
- Funds to pay for repairs and services
- Agreement with the seller on the decision to sell
- Enduring Power of Attorney to act on behalf of the seller if required
- Preferably, approval by the family to act on their behalf
The typical timeframe to sell a home is:
- Obtain a valuation implement a preparation plan – allow 3-6 months
- Appoint a solicitor and prepare contracts – allow 2 weeks
- Select and appoint a real estate agent – allow up to 4 weeks
- Final preparation of the house for sale – allow 4 weeks
- Sale process – allow up to 10 weeks...Funds available – allow 6 to 8 weeks from sale
Once the sale has been made, you will need to notify:
- Australian Electoral Commission
- Australia Post (redirection of mail)
- Centrelink (if you receive social security benefits)
- Australian Taxation Office
- Electoral Roll
- Roads and Maritime Services (driving licence and car registration)
- Local Council (rates)
- Local library (memberships)
- Private health insurance
- General Practitioner
- Family and friends
- Clubs, social groups, supported charities
- Facebook etc.
- Banks, Credit unions
- Insurance (car, home etc.)
- Finance (accountant, financial adviser)
- Superannuation memberships
- Tolls, E- tags
- Store memberships and loyalty programs
and don't forget :
The valuation and advice establish a path to prepare the home, you have time to discuss and implement plans.
Ray White Chairman