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Selling a Property

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Selling a Property

Selling Property | Income Properties for Sale

Selling property can be challenging and rewarding all at the same time especially when you are doing it for the first time.

You have to commit yourself to the process once you do decide to sell and follow through with the plan. The first and sometimes second month are the most critical. As a seller, you have to be prepared to make the property available for viewing whenever a potential buyer would like to see it. Of course not 24 hours 7 days but within reasonable times.

The process doesn’t have to be stressful if you continue with the plan. it should follow a fairly predictable process that any reputable agent should be able to explain, to put your mind at ease. The very best agents are transparent about the process from the beginning and guide sellers every step of the way taking much of the guesswork and nasty surprises out of it.

Step One: The perfect time to sell is when you’re ready to sell

Many novice sellers are unsure if they are actually ready to sell, or if it is the right time, and these first-time jitters are normal. The most important thing to realize is that you’re ready to sell when you are, and that moment when you are ready is the right time. Speak to a real estate agency, even if you are unsure. Reputable agents will make themselves available to offer advice and won’t pressure you into selling. Learning what the market trends are key to listing your property.

Step Two: Choose your house hunter wisely.

The seller’s relationship with the agent is critical throughout the entire sales transaction. The agent is the first point of contact for the seller and should be a wellspring of advice and information on how to get the best result from the sale. This includes giving you a clear idea of market trends are and what costs are involved. It is also important to know when and what documents you’ll need to provide.

Transferring the property to the new owner can take 60 days or more, depending on the attorney or closing company’s capacity and expertise. Make sure you choose an experienced attorney or agent that knows what they are doing.

Sellers should do their homework before they choose an agency, and select one that is trustworthy, communicative and responsive. Visiting the social media pages of agencies, and reading what other clients thought of the service they offered is a good way to gauge what to expect.

Step Three: Fix material defects, but do not spend unnecessarily

There may be some things about your home that you, as the owner, may have tolerated that you worry might put off potential buyers. It could be anything, from chipped, peeling paint to the quality of some of the finishing. Doing nothing about these things would be a mistake, as would doing a complete renovation without knowing whether it adds value.

Sellers should rely on the experience and knowledge of their agents to decide what on the property is a material defect and should be fixed, what additional renovation may add value, and what isn’t worth touching.

Step Four: Do not be your property’s ambassador

Many buyers decide to make an offer based on the personal connection they make with the property, this is why it is important for sellers NOT to show the property themselves. As the seller, you have personal feelings about the property and the buyers may have their own ideas or plans for the property. For example; it doesn’t matter that your great grandfather built the chimney by hand. Please no disrespect intended, be assured that the buyers are walking in with their own idea and plans. If you want to sell please don’t try and convince them otherwise.

Step Five: Its not over until the transfer is completed

So you’ve accepted an offer to purchase, the buyer’s bond has been approved and the transaction is now with the conveyancing attorneys, but it’s not over yet. The property and all the responsibilities that come with it remain yours until the transfer is complete. This includes keeping the property insured, in good condition and ready to be handed over to the buyer on transfer day.

Transferring the property to the new owner can take 60 days or more, depending on the attorney’s capacity and expertise, so make sure you choose an experienced attorney or title company. You want to make sure that the seller can actually sell the property. And that’s how we will help you..