Selling a Property is not just about putting a “For Sale” signboard or panaflex outside your property; it is a complete strategic process that starts from attracting the right buyer and then negotiating the best possible deal. Selling your property is a big financial decision and we will take you through the key factors so you can sell with confidence and maximize your returns.
1. Choosing a Qualified Agent: A qualified agent brings market knowledge, Price expertise and negotiation skills that will help you sell your property smoothly at the best possible price.
2. Market Comparison for Comparable Sale: You don’t want to leave money at the table nor scare the Buyers away with your Price Tag! Hence all the more important to conduct thorough research for Market Price of similar offerings and set realistic expectations.
3. Property Inspection: Identify and fix any issues like Roof leakage, Plumbing leaks and broken floor tiles to make the property more appealing for buyers.
4. Updation of Legal Documents: Ensure that all property ownership documents, Title deeds and NOC’s (if any) are up-to-date as any discrepancy can delay the sale process and can even put-off the potential buyer.
5. Facade Appeal: First Impressions do Matter! The Exterior of your property should be visually appealing to entice buyers by repairing any exterior damage to plaster, fresh paint and landscaping.
6. Negotiation on Price and Payment terms: Always know your limits and the minimum you are ready to accept; but be ready to be flexible in terms of Price and Payment terms. Nowadays, Buyers also come with offer of adjustment of their own less value property & Cars and paying cash for the balance.
7. Sales Deed and Transfer Documents: Sales deed and transfer documents are a legal binding and any misstep could lead to disputes and might need resolution through Civil Courts which can be a challenge in itself. It is of primary focus that all payment terms and transfer procedures are clearly stated.
8. Tax Implications: It is essential to understand all tax implications to avoid any surprises or shortfall in your receivables. Taxes such as Capital Gain Tax or Tax on sales of Property 236 C hold considerable value and need to be kept in mind.
9. Move Out Plan: Once Sale is finalized, you will have to vacate the premises. It is essential to have a Move Out Plan (Packing, Moving and Settling at another location) in advance to ensure a smooth transition for you and the buyer.
The Article is part of Estate Advisor Series “Let’s Discuss Real Estate” specifically aimed for public awareness and informed decision making in the Real Estate Sector. For Further Details & Assistance, Please contact us at our UAN 0340- 1114488 through Call or Whats App.