Do you want to sell your home by Christmas? Remax Chinese Real Estate Agent Henry Wong explains the timeline of selling your home, and what you need to do to get it done by the festive season.
“Hi, I’m Henry Wong. You’re looking at getting sold by Christmas. Right now at the time of this recording, we’re in the month of September. We have September, October, November, December.
We work backwards. Now, with regards to Christmas, generally a lot of lawyers and banks put things on hold somewhere around 20-something of December. Some lawyers go away mid-December. We want to be conservative with our calculations. We’ll look around mid-December. So, mid-December over here is when you want to get, I guess, settlement by, when you want to get sold by Christmas. What I mean by sold by Christmas is that you want to get money in the bank and settled by then. Generally, the shortest amount of time this takes is 30 days. Let’s go… When you wind the clock mid-December, up 30 days you will get to mid-November.
Generally with marketing campaigns, obviously most properties you need to have some sort of time on the market in order to get interest, and get a copy on the contract. So, let’s rewind the clock back another 30 days on the market. So, mid-November, back 30 days on the market becomes mid-October. Ideally you want to be on the market by mid-October, but it takes time in order to prepare your home to go to market. You don’t just wake up in the morning, go, “Let’s go to market tomorrow.” Going to need one week, two weeks, three weeks, photos. I would say most people would take a minimum of two weeks to get the home ready. So, we rewind the clock back two weeks. What we’re up to, to prepare your home is early October.
If you’re looking at getting sold by Christmas, meaning that you’re out of the house, or you’re no longer in the property, or own the investment property, you want money in the bank, you need to go to market mid-October, but prepare in early October. That’s if you want to give yourself the timeframe of 30 days campaign. Now, obviously, if you want to give a bit more leeway, a bit more time to be on the market, because you may or may not be able to secure a contract within 30 days and sometimes contracts fall through. Rewind the clock back even further, which takes us up to somewhere in September.
There you have it. If you want to go to market and get sold and settle by Christmas, money in the bank, looking at this timeframe, you want to get ready around early October, go to market mid-October, give yourself 30 days to be on the market to get a contract. Just bear in mind if a contract falls through, it could take longer than 30 days to get another contract. If you want to give yourself a bit more time, you need to go into market somewhere in September, ideally speaking.
So there you have it. This is how you get sold by Christmas. If you have any other questions, feel free to contact me, and all the best.”
