{"id":4262,"date":"2021-11-25T11:42:23","date_gmt":"2021-11-25T09:42:23","guid":{"rendered":"https:\/\/dotnewsconnect.co.za\/law\/?p=4262"},"modified":"2021-11-25T11:43:04","modified_gmt":"2021-11-25T09:43:04","slug":"selling-your-home-how-to-be-lucky-this-holiday-season","status":"publish","type":"post","link":"https:\/\/dotnewsconnect.co.za\/law\/2021\/selling-your-home-how-to-be-lucky-this-holiday-season\/","title":{"rendered":"Selling Your Home: How to be Lucky this Holiday Season"},"content":{"rendered":"\n

\u201cLuck is what happens when preparation meets opportunity\u201d (Lucius Annaeus Seneca the Younger, Roman philosopher)<\/p><\/blockquote>\n\n\n\n

History has not recorded whether Seneca himself was \u201clucky\u201d in the property market of his time (Rome\u2019s land registration records from two millennia ago have unfortunately not survived the ravages of time and Imperial collapse) but his wise words are as true today as they were then.<\/p>\n\n\n\n

The two key elements of a \u201clucky\u201d sale<\/h6>\n\n\n\n

To be \u201clucky\u201d in finding the right buyer at the right price you need two key elements \u2013<\/p>\n\n\n\n

  1. Opportunity:<\/strong>\u00a0Our Holiday Season is always a prime time to find the perfect buyer, and with our current low interest rates, local and international travel opening up again, and reports of house prices soaring globally, December promises to provide plenty of opportunity to sellers; and<\/li>
  2. Preparation:<\/strong>\u00a0We have some useful tips for you here, both from a legal standpoint and from a practical one\u2026<\/li><\/ol>\n\n\n\n
    How to prepare for a \u201clucky\u201d house sale in 12 steps<\/h6>\n\n\n\n

    First prize is of course a quick sale at a good price, followed by a smooth transfer process. Here are some thoughts on how to achieve exactly that \u2013<\/p>\n\n\n\n

    1. The sale agreement – avoiding the legal pitfalls:\u00a0<\/strong>Your house is probably one of your most important assets, so be aware of and prepare for the many legal pitfalls which may await you. Falling into any one of them could instantly convert your \u201clucky\u201d sale into a disaster!Note firstly that as seller you have the right to choose your own conveyancing attorney. Do not fall into the trap of giving that right up! Pick someone you trust to carry out the transfer (the formal registration in the Deeds Office of the property into the buyer\u2019s name) quickly and professionally.You will be bound by all the terms and conditions in the sale agreement you sign, and there are far too many potential pitfalls here to list in one article. So have your own attorney prepare the offer\/sale agreement for you, and if you happen to be presented with an offer on someone else\u2019s offer form, at least have your attorney check it for you\u00a0before<\/strong>\u00a0you sign anything.Every term and every condition, no matter how \u201cstandard\u201d it may seem, must be scrutinised to confirm that it suits your particular sale and your particular needs. Common things to go wrong include badly worded \u201cvoetstoots\u201d and \u201cbond clauses\u201d, uncertainty over payment provisions, confusion over the authority of company directors and trustees of trusts to sign agreements and so on.<\/li>
    2. Well in advance\u2026\u00a0<\/strong>Pick your attorney\u2019s brain on a few preliminary (but deeply important) aspects like which estate agent\/s to use, what sale prices are being achieved in your area and who is buying, and so on. Ask also for a list of what your costs are going to be, when you are likely to get paid the purchase price etc so you can prepare a cash flow forecast. Get a start with all your compliance certificates and provide for the cost of any remedial work needed (normally on the electrical and plumbing side). You may also have to give up to 90 days\u2019 notice of cancellation of your home loan to your bondholder to avoid an early termination fee \u2013 check with your bank.<\/li>
    3. Time it right:<\/strong>\u00a0If you are selling a house \u2013 \u201choliday home\u201d or not \u2013 in a traditional \u201choliday\u201d area, the Festive Season will likely be your prime selling time. Sunny weather, everyone relaxed and in the holiday spirit, an influx of holiday makers from other cities \u2013 they all set the scene for you to show off your home to best advantage and to the best audience. Which brings us to\u2026<\/li>
    4. Describe and target your \u201cperfect buyer\u201d:\u00a0<\/strong>Sit down with your family\/friends\/professional advisors and brainstorm who your \u201cperfect buyer\u201d is. Who will want your house the most? Who is going to pay you the most for it? Perhaps for example you come up with a spec like \u201cOur perfect buyer is a young upwardly-mobile family looking for work-from-home-space, good schools in the area, and a separate flatlet for Granny.\u201d Use that spec to inform your \u201cmarket targeting\u201d \u2013 how you plan to reach that target market, how you will tell it just how perfect your home is for them, and so on.<\/li>
    5. Set the right asking price!<\/strong>\u00a0A very common mistake, and an easy one to make, is over-pricing. Maximise buyer interest and engagement by asking for a reasonable, market-related price. With of course a margin for negotiation. Get good independent advice here \u2013 we tend to be very emotionally invested in our own \u201chome-sweet-home\u201d and it\u2019s not easy to be objective about its attractiveness and value to outsiders.<\/li>
    6. Advertising:\u00a0<\/strong>Your first challenge is to get \u201cfeet through the front door\u201d so unless you are very confident indeed of your own ability to find the right marketing channels and formats, professional advice and guidance is essential here! Remember that \u201ca picture paints a thousand words\u201d so bringing in a professional photographer is a no-brainer. You could seriously damage your home\u2019s image in the public mind if you take a chance and get any of this wrong at the start.You want to highlight your property\u2019s strengths, particularly those likely to appeal directly to your target market (identified above), so think of all the easily-overlooked things like borehole water, irrigation systems, solar power, inverters, fibre, special security features, herb garden space \u2013 the list is endless.<\/li>
    7. Prioritise kerb appeal:<\/strong>\u00a0If you get the above steps right, sooner or later your perfect buyer will be arriving at your street address. Critical here is kerb appeal – the \u201cattractiveness of a property and its surroundings when viewed from the street\u201d. Don\u2019t drop the ball on this one! \u201cYou never get a second chance to make a good first impression\u201d said Will Rogers, and the same holds for your house. Ask some friends to drive down your street with a fresh pair of eyes \u2013 what jumps out to them as appealing? What could put a potential buyer off?<\/li>
    8. Now comes \u201cfront door appeal\u201d:<\/strong>\u00a0So your perfect buyer now stops the car, decides to give your property a look-over, and parks \u2013 great going! Into your front garden we go \u2013 is the lawn cut and lush, trees and shrubs tidy, flower beds bursting with colour? Is the house exterior attractive, the paint job and roof in good condition? Does your entrance\/front door shout \u201ccome on in\u201d?<\/li>
    9. Light, clean and airy sets the scene:<\/strong>\u00a0We\u2019re inside, now what\u2019s the first thing your potential buyer will see? A bright, spacious, airy feel could seal the deal right there and then, whilst even the slightest trace of dim, musty airlessness could kill it stone dead. Whatever issues you identify, there is a treasure trove of advice on the internet about how to address them \u2013 lighter wall paint and curtains, more natural light from outside (a big seller!), sparkling windows, more interior lighting, a few mirrors to give a feeling of light and space, de-cluttering, re-arranging the furniture \u2013 your own house\u2019s strong and weak points will be unique to it. Finish off with a really deep clean, calling in the professionals particularly if the house is old, if you have pets or have just got rid of old dust-gathering clutter.<\/li>
    10. Deal maker kitchens and bathrooms:<\/strong>\u00a0Your kitchen and bathrooms could be deal-makers, or they could be deal-breakers. More than perhaps any other area of your house, they are worth spending money on if they haven\u2019t got immediate appeal already.<\/li>
    11. Work-from-home office space:<\/strong>\u00a0Depending on who you have identified as your \u201cperfect buyer\u201d in step 2 above, this could be critical. If you don\u2019t have an office\/study already set up, identify a space for one and be ready to answer questions like \u201cdo you have fast fibre?\u201d and \u201chow noisy are your neighbours?\u201d\u00a0<\/li>
    12. The DIY factor:\u00a0<\/strong>Unless your plan is to sell a \u201cfixer-upper with huge potential and in need of a little TLC\u201d, have a good look around for all the \u201clittle things\u201d that need fixing (we\u2019re outside as well as inside the house now) \u2013 cracked tiles, broken fittings, leaking taps, a grubby swimming pool – anything really that a prospective buyer might notice and think \u201cI wonder what else is wrong here?\u201d<\/li><\/ol>\n\n\n\n

      Bottom line \u2013 make your own luck!<\/p>\n\n\n\n

      Disclaimer:<\/strong> The information provided herein should not be used or relied on as professional advice. No liability can be accepted for any errors or omissions nor for any loss or damage arising from reliance upon any information herein. Always contact your professional adviser for specific and detailed advice.<\/p>\n\n\n\n

      \u00a9 LawDotNews<\/p>\n","protected":false},"excerpt":{"rendered":"

      \u201cLuck is what happens when preparation meets opportunity\u201d (Lucius Annaeus Seneca the Younger, Roman philosopher) History has not recorded whether Seneca himself was \u201clucky\u201d in the property market of his time (Rome\u2019s land registration records from two millennia ago have unfortunately not survived the ravages of time and Imperial collapse) but his wise words are […]<\/p>\n","protected":false},"author":101014,"featured_media":4263,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[6],"tags":[],"class_list":["post-4262","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-property"],"yoast_head":"\nSelling Your Home: How to be Lucky this Holiday Season • LawDotNews<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, 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