8 Things You Must Do Before Selling Your Property

February 28, 2020
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Selling your property can be surprisingly time-consuming and emotionally challenging especially if you’ve never done it before.

With no experience and a complex, emotional transaction on your hands, it’s easy for you to make lots of mistakes. That is why we have compiled for you this list of things to consider and do to place your properties within the reach of property seekers that
actually buy them at the highest prices possible within reasonable timeframe – without losing your mind. ​These are:

  • Research your local property market
  • Consider your selling cost
  • Set a reasonable “asking” price
  • Eliminate potential surprises
  • Improve your properties curb appeal
  • Understand the legal side of the sale
  • Gather important documents
  • Leverage the expertise of a trusted realtor or estate agency

Research your local property market

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Whether you’re selling your property yourself or using a trusted real estate agency, it is always a good idea to do some homework and research property market trends in your area. Find out how many of your property types are currently on the market in your area and the average number of days they have been listed.

This will give you a general idea of what the competition looks like. For example, if you’re selling a home, analysis of a comparable home will come in handy. A comparable home has similar features and is usually located within a close proximity to your home. Examining the number of bedrooms, bathrooms, lot size, and other features are important when seeking out comparable properties.

If you really want to go the extra mile in reviewing comparable properties, visit open houses and search real estate websites that publish on the Multiple Listing Service (MLS).

With our website you can search for houses based on the aforementioned criteria and compare two or more of them at the same time. We also provide you with exclusive local property market information with utmost ease.

Consider your selling cost

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Selling a property can get expensive, especially if you don’t end up selling for less than you’d hoped. ​So, examining every cost you’ll incur upfront is a failproof way to sell your property and make substantial profit from the sale.

Marketing cost, insurance, repairs, maintenance costs, service charges, association fees, property taxes – you should consider these and have the budget to handle all of them if they are relevant to your sale.

Using a good estate agency will save you some cost such as marketing cost as they handle this efficiently at their expense.

Set a reasonable “asking” price

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After researching your local property market and considering your selling costs, pricing your property correctly is another important step, one you should take correctly from the beginning. Avoid making emotional decisions or anchoring your listing price to the property’s previous value (in case you’re selling a previously owned property).

Set a reasonable “asking price” with regards to your property’s local market trend. Asking price is the price at which something is offered for sale. According to the result of a survey carried out by US National Association of Realtors, buyers typically purchased their homes for 98% of the asking price

If your property is in an area where there is high demand, there are more buyers than sellers and prices are likely being driven up by that demand. You can often price your house more aggressively as long as you stick within reasonable price limits.

In an area with low demand however, buyers tend to be more selective and pricing usually needs to be at market value to attract an offer.

A good real estate agency will be more than helpful in pricing your property as they fully understand the local market trend and can evaluate your property’s worth adequately.

Eliminate potential surprises

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Buyers don’t appreciate surprises or unexpected delays. So, it is worth paying for a building and pest inspection, especially if you have an older property. Having this information beforehand will help you identify problems you may need to address.

It’s advisable to fix any known issues prior to listing your property for sale as an unfavourable building can turn off a potential buyer, have them second guessing the purchase of your property or worse withdrawing their offer.

Make sure you also find out if there is anything you will need to either address or disclose in your contract for sale too. Do you need a pool safety compliance certificate or pet’s clearance certificate? ​ These and more questions are which you need answers for before listing your property for sale.

Improve your properties curb appeal

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When it comes to buying a property, first impressions have a significant impact. So, it helps to avoid anything that could hinder potential buyers of your property from having positive first impression.

Declutter living areas, consider staging, a fresh coat of paint for a previously owned property, fix broken appliances and furnitures, touch up any scuff mark, depersonalize the space – these are the things you should consider doing if you want to close a property sale fast with the help of a good curb appeal.

Understand the legal side of the sale

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Your sale will involve a contract – a legal document. You may want to speak with an attorney specializing in real estate, who can answer your questions, help you come to a better understanding of the legal side of the transaction, and help insulate you from any problems that could arise after the sale.

Often, if you have chosen to work with a real estate agency, they can help with legal works of selling your property.

Gather important documents

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Before you sell a property, you’ll need to get some relevant documents such as the title, survey documents, property tax receipts, and mortgage statements etc. You’ll also want to get ready up to 3 months worth of utility bills and any other related information – it’s best to be above-board and get these ready where applicable as soon as possible.

Leverage the expertise of a trusted realtor or estate agency

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Without selling your properties through a real estate agency, you’ll be responsible for your own local property market research, your own marketing. And to make reasonable profit from the sale you’ll want to make sure to get your properties on the Multiple Listing Service (MLS) in your geographic area to reach the widest number of buyers. Since you have no agent, you’ll also be the one showing the properties and negotiating the sale with potential buyers, which can be time-consuming, stressful, and emotional for most people.

According to the result of a survey carried out by US National Association of Realtors, 89% of buyers recently purchased their home through a real estate agent or broker. So, it’s highly beneficial to submit your properties to a real estate agency.

A trusted real estate agency like ours have your interest in mind. We work closely with you to throughout the process of selling your properties – from researching local property market through setting a reasonable asking price and gathering important documents.

We also have several resources provided through our online and offline platforms to ensure your properties are placed within the reach of seekers that
actually buy them at the highest prices possible. We’re all about
selling solutions not promises and sell the properties within a profitable time frame. We negotiate
with buyers on your behalf and help with inspections, paperwork, and settlement. Contact us now or submit your properties through our easy to use web platform. You can also reach and connect with us through any of our social platforms. Subscribing to our weekly email newsletter is another way to benefit from the exclusive resources like this one we publish every week.

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