You are determined to sell your apartment or house, but not sure where to start? We pointed out 10 important things to have in mind to sell your property successfully and without risk.
Set the price of your real estate properly. Setting a price that is too high or too low can lengthen the selling process, or even leave you without a buyer. Be sure to check prices of similar properties in your area and analyze average price per square meter for a couple of properties, instead of coming up with a rather abstract price of a similar property. If you are unsure of your own assessment, ask an expert for an assessment.
Hire a realtor from a real estate agency with good reputation. An expert will help you set the price, point out the risks, help you close the deal and recommend other professionals – if their help will be needed. Realtor will also give you advice and help on any other question, that might come up during the sale.
Gather together all the relevant documents that are necessary for your type of property. Be well-informed about what documents are needed so that the sale can go as fast and efficiently as possible. List of necessary documents depends on the type of property you are selling. You will probably need excerpts from the land register, energy certificate, floor plans, building permit, use permit, certificate of land use. A complete list of documents for your transaction can be found here.
Clean and tidy up the property. Remove unnecessary items from the interior and yard. These include: shampoos, toothbrushes and other personal hygiene products, family photos, clothing items, children's toys and other personal items that will not be useful to the future owner. Every interior and exterior leaves the best impression if there are no personal items of the owner in it, and the potential buyer sees it in the form in which he can purchase. For some properties, minor redecoration may be considered to make the property more attractive. All additional costs should be objectively assessed so that they will pay off in the long run. You shouldn't make very expensive designer renovations before sale, because the future buyer may have a different taste, and he will ask you to give him a discount for renovation to his taste. Therefore, it is best to stick to the classic style: light walls and ceilings, natural classic tones of the floor and doors. If you are not sure if your property needs a renovation, you can always ask for advice from real estate experts - realtors and appraisers.
Leave the viewing and presentation of the property to potential buyers to the realtor. Realtor is a sales expert, understands people well and will know the best way to present your property. If you decide to show the property on your own, read our article “How to Show Your Apartment or a House to Potential Buyers and Sell It”.
If a realtor will be showing your property to potential buyers, then entrust him with the final price negotiation process as well. Realtor is a professional who represents your interests and will not yield under the "pressure" of the buyer. This is especially important when potential property buyers are your acquaintances. If you are selling your property yourself, read “How to Sell an Apartment or House for the Best Price”.
If you are offered to "formally" sign an agreement with unfavorable conditions for you, while getting promises that you will receive everything you agreed on, referring to personal problems or other reasons why you should deviate from the legal procedure for conducting a real estate sale or receiving/transferring money, it is very likely that you have fallen for scammers. Refuse such a deal, no matter what attractive conditions are promised to you. Typically, scammers offer to pay more than the market price of your property, but they ask you to do something that is not part of the standard legal procedure for buying real estate. Do not be led by emotions, they are used by scammers to trick you.
Do not sign documents without reading and understanding them in detail. Check all parts of the contract. Check that the contract contains all the conditions for receiving payment, the amount of payment, at what moment and on what conditions you will receive it, whether these conditions depend only on you or not, what is the procedure for terminating the contract if you do not receive payment and what obligations will lie on you, in case the transaction does not take place. If the sale involves cash transactions, ensure that the notes are genuine, and that the handover process is in accordance with the law. The security of the process can be ensured by a realtor and a notary, but in any case, remember that the obligations under the contract fall primarily on you, so read it carefully.
Be sure to complete the closing deal with the active participation of a realtor and a notary, preferably through a bank account. With a lot of experience in such transactions, and without an emotional approach, they can save you from a number of risks.
Save the contact details of the realtor with whom you have successfully completed the sale. You may need his services again. The new deal will be easier if you work with someone you trust. He will also help you if you have any questions about your current deal.
These 10 tips seem very simple, but statistically, it is because of them that the process of selling real estate is delayed or even problems arise.
Even if you entrust the process of selling your property to professionals, follow these tips. We wish you a successful sale!
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