Purchasing or selling real estate is one of the biggest financial decisions an individual can make in their lifetime therefore it needs to be taken very seriously. If you are considering placing your property on the market for sale here are a few things you need to know.
Whether you are buying or selling a property the process can prove to be extremely stressful and exhausting, especially if you are selling on your own. To take some of the burden off your back consider hiring a real estate agent/agency to assist you in getting your property sold. You may be given the option to list with multiple agencies or list exclusively with one agency. If you decide to enter into an exclusive agreement, ensure that you choose the right agents who will minimize worry, maximize results and have your best interest at heart.
Improve your properties curb appeal in order to make a great first impression. Depending on the state of the property, a prospective buyer could lose interest before placing one foot inside the premises. A prospect’s first impression should make them feel impressed and excited to see more.
Consider brightening up your fence or gate with a fresh coat of paint, planting a flower garden, creating a paved walkway, or simply move anything unsightly out of plain sight. Yard maintenance is also highly important. Please note that, particularly if you are selling land, properties that have been overtaken by overgrown grass and shrubs tend to appear smaller than their actual size.
Another way of increasing curb appeal is with the inclusion of outdoor living space, such as a deck, patio, or gazebo. This will not only beautify your property but can also increase its value and selling potential. It is important that your property is in a condition that can present it in the best light which allows it to be purchased at its maximum market value.
Give your property some tender loving care. Start by placing attention on the little things and work on fixing them before they become unmanageable or result in further damage. Prospective buyers, especially those who are determined to find their ‘dream home’, can at times be nit-picky and focus on details that you yourself may not consider an issue.
If you are going to place your property on the market for sale, it is wise to take a walk through the property and try looking at it from a stranger’s point of view. If you find any issue that can easily be rectified at a low cost, consider working on it as soon as you can. Doing this will also give the prospect the impression that the property has been well maintained over the years and give them a greater appreciation for the property.
Come up with a competitive selling price. In order to settle on a formal selling price that will ensure that both you and the buyer are happy you will need to know how much your property is worth. Overpricing is one of many factors that can keep quality real estate from being sold. If you are serious about selling your property, it is far better to have it listed at a reasonable price than to have it sitting on the market for years without attracting any potential buyers because it is overpriced. Remember, your property is not the only one on the market and home buyers almost always shop around.
Before you decide on selling, it is important to note that when selling you will be required to pay Government Transferor’s Fee of 2.5% calculated on the selling price or value of the real estate being sold, whichever is greater.