No, selling a property isn’t as simple as selling girl scout cookies or fresh lemonades. It is a long and stressful process wherein you will need to have a legal advisor to guide you in your selling process and in coming down to a decision. You should know what documents to prepare and how to sell your property in general. Find out as much information needed before you begin.
Here’s a list of a few things to accomplish before, during and after selling your property:
Hire an agent, legal advisor and/or conveyancer. Some may skip this but if you lack knowledge in selling a property, you’ll need someone to help you with that. An estate agent knows how much you can sell your property, it’s what they do for a living so they have relevant knowledge in regards to selling a property. A legal advisor may guide you in the legal aspects and other necessary actions you should do before directly selling.
Preparation of documents. Such as land titles, selling the contract and other legal and financial requirements. All necessary documents should be ready for review by the purchaser if requested. If you have pending mortgage to be paid off in order to legally sell the property, do so before your target date of selling to make sure everything is ready and accomplished. Go online and look at the laws pertaining to selling a property as you are liable to certain laws in certain states.
Inspect your property. Are there any major repairs needed? Your customer has the right to check if the property is well-maintained. Have your plumbing, appliances and roof and foundation of your house inspected to remain or increase the value of your property. Further repairs or inspection requested by the buyer could be made at their own expense.
Determine your selling price. Your selling price isn’t just a ball point figure. It should be exact and reasonable. Your agent can help you in terms of valuation. With this, they should be in charge of assessing your property’s location, size, age, features and current market trend in order to come down with a price estimate you are favorable with and agree upon.
Think of your marketing strategy. How do you plan on selling it? Are you considering to put it up on auctions? Know when to put up your ads and determine your target market. Do you see it useful for small companies or agencies or for families?
Clean your property. Before you sell your property, make sure it is tidy and clean. You want to impress the buyers and give them the notion that the property is well-maintained thus, increases the value of the property. You would want to show them how much you take care of the property.
Disclose issues. If you have found a potential buyer, be upfront and inform them if there are any property defects rather than you let them find out for themselves after they move in. Do not try to cover things up, it’s unprofessional and you will be liable for impairments. Also, legal actions could be subjected to you.
Promoting. Promote your property on different platforms; traditional promotion (e.g. newspaper, posters, fliers, etc.) and nontraditional (e.g. advertise online, use social media, online real estate sellers, etc.). Schedule an open house or showroom date to be viewed by potential buyers.
Stage your property. Especially when you’re selling a house. You should design your home from a buyer’s perspective; nice and flourished bedroom, dining room and kitchen. Note that the kitchen space is the most look after the area of a house to make it more appealing.
Selling a property is no easy task. So before you come down to this decision, consider your other options first. Prepare yourself for negotiations with the buyer and if they propose a deal unfavorable to you, counteract that by offering a deal in corresponding to theirs that is in your favor. Be wise and pragmatic.
About the author: When she’s not looking over Pinterest searching for Home decoration and design ideas, Chie Suarez regularly writes for PAAL Kit Homes. It is a company that manufactures and supplies steel-framed kit homes that help Australian families build their dream home.
March 28, 2018
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