From marketing expenses and contract preparation to renovations to add value, there’s lots to consider when selling your home.

Here are some of the main ones to consider:

Legal costs

When selling a property, you do really want to ensure all the paperwork is in order. The main legal requirements include:

• Contract preparation

Prepared by a solicitor or conveyancer, the contract of sale for the property includes details such as settlement dates, all conditions of the sale and what is included in it (for example, carpet, furnishings).

• Vendors statement

Also known as section 32 – this statement is a document containing all the information about the property that is required by law that the seller must provide to the buyer. This includes information such as easements, zoning and out going expenses such as rates. As the seller is legally responsible for the vendor’s statement, and the statement must be factually accurate and complete, many people pay for legal adviser to prepare it.

Marketing your property

Ensuring your property is seen by as many people in the target audience as possible, and it is shown in its best light is essential to getting the best price.

The main marketing costs to budget for include professional photography, creating floor plans, a brochure for open inspections, a signboard so people know the property is for sale, and enhanced internet listings.

Optional extras in the marketing budget could include paying for drone photography, videography, styling and possibly advertising in print media.

Agent costs

Agents structure their fees in different ways. For instance, a salesperson maybe on paid wage with a percentage bonus for selling your property, or they may be on commission only.

We believe fees and contracts should be discussed openly and honestly – that way there is no misunderstanding, and everyone knows exactly what to expect should circumstances unexpectedly change. Read our blog on what to consider when selecting an agent.

Other costs to consider

• Renovation costs

While it’s not essential to do any renovation to the property, in our experience, generally, a well-maintained property will attract higher offers; if there are some quick and easy, low-cost renovations which will add value to the property, factor these into your budget.

• Auctioneer fees

Not every property is right for auction. If this is a route you do decide to go down, you will need to factor in paying for a licenced auctioneer. Craig Andriessen, Director of Andriessen Property, is a licensed auctioneer and can talk you through the pros and cons of selling at auction, and can advise whether this type of sale could attract a better price for your property.

• Pest and building report

This isn’t an essential requirement by law, but you may decide to get a professional report completed before you hit the market.

• Mortgage Lender exit fees

If you still have a mortgage on the property you are selling, you may need to the lender a discharge or early exit fee. Contact your lender to find out how much this is, and talk to your financial advisor to see if there are any other costs associated with your mortgage.

The exit fee will be found in the terms and conditions of your mortgage. We are not financial specialists, so it is imperative you speak to a mortgage advisor and/or a financial specialist to clarify how much you’ll need to budget for.

• Removalists

Whether they are moving a short distance in Newcastle or heading interstate, around half of sellers use professional movers. Removal costs vary depending on what your requirements are. For instance, do you want them to pack the whole house for you, or are you going to do all the packing yourself, so all they have to do is load up boxes and furniture?

Obviously, the further a company has to transport your belongings, the higher the bill will be.

Make sure you get three quotes, and factor in paying insurance should anything get broken in the move.

If you’re thinking of selling, or would just like to know what your house could get in today’s market, contact us for a free, independent and non-obligatory quote. Our experienced team will also give you tips and ideas so you can get the best from your property.

We’d love to see you in our Cardiff office or you can give us a call on 02 4954 8833. Or send us an email to: mail@apnewcastle.com.au.

If you’re looking for more handy tips on selling your property, or what to look for when buying or selling a property check out our Facebook page.