Selling by tender is often used when you’re selling very high value or unique property. It’s a less common method of sale but that doesn’t mean you shouldn’t consider it if your property fits the bill. It doesn’t attract extra costs like auctioning your property does but it is dependent on a highly effective marketing campaign. We’d normally recommend budgeting 1% of your expected final sale price for marketing, but if selling by tender, you might want to consider spending more.
We’ve written a more in-depth guide about selling by tender to explain how it works, what it costs and whether or not it’s right for you.
Selling your property yourself might seem tempting – after all, you won’t be spending anything on agents. Not everyone is suited to selling their own property and there are a lot of factors to take into account. We’ve got a guide on how to sell your property without an agent, including how much it will likely cost and the pros and cons. We’ve also got a guide which looks at the best ‘for sale by owner’ websites in Australia.
An ATO Clearance certificate is needed if the property you’re selling is worth over $750,000, which covers over half of all property sales in Australia.
It proves to the property buyer and the Australian government that the vendor is not a foreign resident and that as such, they don’t have to pay a foreign resident capital gains tax.
Getting a certificate is free and you can do it all online, a process we’ve outlined in our guide to the ATO clearance certificate, as well as including more info on who needs one and when they should apply.