Whether you need to pay stamp duty on a property transferred as a gift depends on the laws of the specific jurisdiction where the property is located. Generally, many regions impose stamp duty on property transfers, including gifts, typically calculated based on the property’s market value.  Despite any applicable exemptions, you may still need to complete and submit relevant documentation to the tax authorities.

Whereas historically there were two periods of time in the calendar year where the real estate market was most active, in recent years this mentality has changed. Now, the best time to sell is when it suits you, based on your own needs and aspirations. At Jellis Craig, our agents are experienced at selling properties and getting the best price for you all year round. If you have a preference, or if your home suits a particular time of year better, your agent will work with you on this.

It is highly advisable to use a real estate agent when selling your home. A good agent has expert local market knowledge and negotiating skills, access to extensive marketing resources and buyer networks, and a sound understanding of the legal process, which all help to maximise price and minimise stress.

Many factors influence how long it will take to sell your home, and these include everything from your listing price and the condition of your home to local market conditions. Your agent can help you understand the current selling climate and how this will impact timelines.

There are unavoidable costs associated with selling a home. These include Stamp Duty, discharge of mortgage and potentially Capital Gains Tax; if you are selling a property that is not your primary place of residence. Conveyancer or solicitor’s fees, as well as marketing costs to ensure your property is shown in its best light to the right people. Because every home is different, agent commission and marketing costs will vary and your agent will discuss this with you.

First impressions count, so making your property as appealing as possible will ultimately have a positive impact on potential buyers. Clear away clutter, carry out minor repairs and boost your kerb appeal by tidying the garden. Your agent can provide guidance and also provide interior design services, full home styling and maintenance services where required.

Your agent can step you through the benefits and limitations of all sales campaigns, the most common sales methods in Melbourne are auctions, private sales and expressions of interest. Each are used in different scenarios, and based on your preferences. In lifestyle areas, Central Victoria and Sorrento private sales are the most commonly used sales method.

Auctions are conducted at a pre-arranged date, time and place, run by a licensed real estate agent. There is usually a 4 week advertising campaign run in the lead up to the event. When the auction begins, prospective buyers make competitive bids against each other until only one bidder remains. By bidding, prospective buyers are agreeing to the terms of contract, which they view before the auction. It’s also important to note there is no cooling-off period with auctions. Contracts will be signed and exchanged immediately after the auction and a 10% deposit paid. The ‘auction conditions’ begin 3 business days before an auction date, and lapse 3 business days after the auction. Any offer submitted in that time period will be treated as an unconditional offer.