Preparing for Auction and Auction Day

So far in our sellers journey, Bianca and Christian have shared why they decided to sell, how the selected the agent and the different options they had to sell their apartment. This week we look at how they prepared for auction, the steps they took and what happened on auction day…

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Getting Ready

Getting a property ready for auction can be a very stressful time, especially when you are busy with work, family and day-to-day issues. However, it is important to find the time to prepare a property before open for inspections. Potential buyers notice the negatives so remove any of these that may exist in order for them to focus purely on the positives of your property. For a small outlay it could be the difference between getting an average price and getting a great price.

With two kids under the age of five and Christian’s 15yo son, who spends the weekends with them, Bianca and Christian decided the best way to prepare for the sale of the property was to move out. ‘We had no chance of preparing a house for regular inspections so the best idea was to get out of there. We did a few fixes and few little things that needed to be done so that the place was well presented,’ said Bianca.

Bianca and Christian decided not to keep their property furnished but many people style their place in the hope of attracting more bidders. At the top end of the styling market, you can engage a professional property stylist that uses furniture, artwork and accessories to maximize the appeal of a property. The expectation is the cost of a stylist will be recouped on the sale.

For the lower to middle end of the property market there is plenty of advise on how to style your own home for sale. Some of this includes removing any clutter and not injecting too much of your own taste as it might alienate potential buyers. A good idea is to get opinions from a variety of friends and family to create a broad appeal.

Pre-Auction Offers

After each inspection Bianca and Christian got a thorough report from their real estate agent detailing how many groups went through and the feedback from the day. ‘We also get an online usage report which outlines how many hits the property has had and who is looking at the pictures. From that, the marketing engagement is determined with plenty of other statistics that come off the back of that,’ said Bianca.

Instead of competing with a room full of bidders some home buyers are putting in pre-auction offers to get ahead of the competition. This can take some of the stress away from the vendor, as they don’t need to go through the auction process and the terms of the contract may be more favorable to the seller. The vendor also needs to consider that they if they accept a pre-auction offer they may miss out on a higher price if the property is auctioned.

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‘We have had a few pre-auction offers but they weren’t close enough so we didn’t accept. Our agent has been providing us with regular information and keeping us updated on local sales so we have a good idea of the market in the lead up to our auction,’ said Bianca.

Auction Day

Auction day arrived and unfortunately there were no bids on the property. ‘We’re not sure why our place didn’t sell. There were a lot of viewings but I just don’t think we had the right buyer or price expectation. We were very disappointed and hoping the process was going to be fairly easy given the current property market conditions. We have found that our price expectations were not where the market was. It was also very frustrating to see other lesser quality properties sell for higher than expected reserve prices due to them being houses.

‘We know our place does suit a certain type of buyer, however the features of location, size and overall appearance was not enough to secure the sale as the negative feature of there not being a lift seemed to be the factor that turned the prospective buyers away,’ said Bianca.

Immediately after the auction Bianca and Christian negotiated with their agent and formulated a new plan. They have now re-assessed and placed the property back for sale with an indicative price and hoping to have a great deal interest generated.

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9 Things To-Do in the First Month of Autumn

Keep the Heat In

Well, here we are – March already! The Christmas and New Year holidays end and before you know it, the sun is going down an hour earlier than you remember and sweatshirts are starting to make their way into regular wearing rotation.

Autumn’s here, and just as you start to put the layers on you and the kids as temperatures fall, your home might need a few more layers too!

That’s why we have the March home checklist. Now that autumn has arrived, what do you need to do for your slice of real estate?

Autumn’s the time when the temperatures start to fall, so we want to keep in all the heat that we can. Just as you would sew up any holes in sweaters or jackets, cover the holes in your home! That means getting a good sealer and going around areas where heat could escape, like doors and windows, and filling in any cracks that arise. Watch out for any older windows as these are the worst offenders for letting in drafts.

Caulk and weather strippers will become your best friends during this process – fill in some time and fill in the gaps!

Check Out Your Roof

It’s probably best to get an expert to help you with this job as it can be dangerous. But getting up and checking that the tiles on the roof are all in good condition and not damaged is an important job to do at least once a year and a good idea before the weather gets nasty.

If you have any broken tiles get them fixed by an expert as leaving them can result in more extensive damage to your property especially if water gets in. Also while you (or someone) is up there, check the seals around vents and chimneys are not worn out and if they are seal them up.

Manage the Moisture

One issue that typically arises in the coming months is the buildup of moisture. As rains fall harder and the temperature drops, it becomes more difficult to keep spaces dry, which can create fertile conditions for mold and other bacteria. One way of tackling this is with a dehumidifier, but keep yours maintained.

It is likely worth giving yours a once-over this autumn, starting with a cleaning and emptying of your water intake, as well as checking the cleanliness of your air grills.

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Itching’ to Clean the Kitchen

One of our favorite things about colder months is the menu – in particular, those hearty weekend roasts where the slow cooking of potatoes and lamb gives the whole living area some fantastic warmth and flavor. Of course, to get a roast going perfectly you will need a clean oven, and this is something that many people can neglect over summer.

Devoting a few hours to properly cleaning out your oven will help it function better, resulting in better meals for you and anyone you live with – not a bad trade-off if you ask us!

Create Some Compost

One of the most iconic images of autumn is the golden leaves falling from trees. Of course, the flip-side of this is that it can create quite the leafy mess across your backyard, or get in the way of your curb appeal! Raking up all of these and preparing them for compost is a great way to turn one of the messiest parts of autumn into a fantastic and productive part of the home.

Leaves are a wonderful source of nutrients, and by gathering them all up you could see a thriving compost heap for your yard – think of it as autumn’s gift to you! Sell properties quickly

Don’t Fuel the Fire

One thing we often don’t do throughout winter is mow the lawns with the regularity we do in summer. After all, if we’re going to be curled up indoors during these months, is there much point?

If you’re someone who puts the lawnmower into hibernation for winter, remember to empty the fuel canisters! This is one for a little later in the seasons we think, but it’s always good to keep in mind. Changing the oil and giving it a thorough clean are also good tasks to keep in mind before you put it away in the garage!

Bring out the Cosy Comforts

Curling up with a movie or good book is much nicer when the weather is foul outside, so why not “Autumn-ise” your family room. Add some warm throws or perhaps change the cushion covers. Having a set of Autumn/Winter cushion covers in warmer colors like taupe, reds and oranges, or heavier winter material can really make your room feel cosy and inviting.

Flowering Plants

Just because the leaves are starting to change color and falling off the trees, it doesn’t mean your garden needs to be void of color. Head to your local flower market and pick up some seasonal flowering plants and either add them to your front entrance area in pots or if you feel really inspired plant them around your garden beds. A bit of brightness when you arrive home will make you feel good even if the weather is changing.

Warm up the Beds

There’s nothing worse than feeling the cold when you are in bed and being too tired to get out of bed to find another blanket. So before that happens, pull out those heavier blankets, quilts and doonas from the cupboards and get them ready for the colder nights that are coming. If you didn’t have them cleaned at the end of winter, make sure you either wash them yourself or take them to the laundry as the musty smell isn’t that pleasant. Why not add a warm toned throw to the end of the bed and perhaps some more throw cushions which will make your bedrooms feel cosy and inviting.

There are tasks you can do all year around to keep your house in fantastic shape, and ideas like these are very handy for general maintenance. It helps you keep facades beautiful, and who knows – if you have one eye on the spring selling season, these acts could entice more buyers to come and check out your property!

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