1. Thinking while Selling Property
• Planning while Selling Property
You should take some time to talk and think before you proceed towards the process to start for selling the property & you should think about the next step.
Summary you should know:
► You should have an idea of the value of the current market of your home before you start planning for sell. By researching online, you can get the idea, for the valuation of your property or by getting in touch with Property portals to advertise your property.
► You should always think about getting the best return on your property investment and get the best selling price.
► You should plan whether you gonna buy and sell the home at some time or selling the home and then waiting to buy the new property. You should understand the advantages and risks both.
► Examine how would you want to sell the property and when to decide the time constrains into the account.
► If your property is a part of the deceased estate, we should recommend you to talk to your lawyer.
• Think for finance when selling Property
When you start planning for selling your property you will always need a budget with the number of costs, mostly if you are planning to buy any other property at the same time.
Summary you should know:
► You always bridge some finance which would be helpful if you planning to buy a new home before selling your property which you have now, likewise you should be always aware of the risk and costs.
► You need to pay the real estate agent’s commission from the deposit amount of purchase which buyer pays, the time you sign the purchase and sale agreement.
► On settlement day, the remaining amount is paid, it should be paid to the lawyer or the person who arranges the settlement.
► You should always check for if there is any tac should be pay while selling your property.
► While selling a property there are many costs which are added such as advertising, legal fees or moving expenses.
• Build a Support Team while Selling Property
Process of selling property is very complicated. Because of which it is very important to have a good professional team for support while selling.
Summary you should know:
► Talking with the bank or the lender can be a good idea, there can be the implication to your lending if the property is sold.
► Before you decide to start selling your property, finding a lawyer or a legal advisor could be the best option. You can quickly sell your property if you have you the lawyer who can help you to understand the process and legal documents.
► Always find a property advertiser or the real estate agents who know the local market and property market locally.
2. Preparing to Sell Property
• Preparing the property for selling
For making your home ready for sale, an Internet search will show you up the things which can help you. There are certain tips which we have collected for you.
Summary you should know:
► Thinking carefully for the major renovations. If you modernise the bathroom or kitchen, you may not get money back by tackling such big jobs. You should decide on a proper budget if you wish to go ahead.
► Majorly of the experts say there are many low costing activities like cleaning, touch-ups, repairs, etc. which can make a bigger difference when you make your present value for the sale of your home.
► Appealing streets is more important. You should make sure about the section whether it is inviting and tidy.
► You should understand everyone’s right and responsibilities, likewise, open communication is also required while selling a property.
• Understand Property Selling Method
There are several methods of property selling. You should always understand the process of selling your property.
Summary you should know:
► Property Advertising on property portal, price negotiation, direct selling, are some of the most common selling methods. These can of offer sales method would be commonly returning on purchase or sales agreement.
► Your lawyer or the advisor will talk to you about advertising property and getting leads. There are different agreements for property advertisement.
► In the method of property advertisement on the property portal. Buyer may get in touch with the seller directly and make many offers for purchase and sales agreement. You buyer can get the deal done.
► After the property advertisement, the buyer gets in touch with. And you tell the price of the property and the buyer will negotiate it. And after what you complete the sale.
• Decide to sell property privately or by the agent.
Real Estate Agents always work for you, they know the neighbourhood very well and they know how to negotiate. Selling the property privately always save your commission, likewise, you should know what you do and about the risk factor.
Summary you should know:
► For selling a house, real estate agents are trained and have experienced. Real estate agents know the property market locally, and they know how to communicate and negotiate with the best possible price for the property.
► Each real estate agent has a professional license. Agents always work for you, the seller, and you have to pay a certain amount of commission which is a percentage based on the sales price.
► In case you want to sell your property privately. You need to list your property on the property portal, for which you don’t need to pay the commission.
► When a buyer gets in touch with you after seeing your property on the property portal, you have to show them property privately and always be in touch with them.
► You should always get the legal advice whether to sell the property with an agent or with a property portal.
• Sell property after a natural disaster
You should understand the rights and obligations about selling the property after Natural Disaster.
Summary you should know:
► You should get legal advice and more clarification from the insurance provider before signing because there might be some conditions that could impact the sale.
► You should disclose all the important information about the property to the buyers.
► After completing the repairs., if there is an earthquake, then you should claim the EQC insurance to the buyer if possible.
► Repair the property, whichever part has been damaged under the insurance.
