|
TIPS
TO SELL PROPERTY
Once
you decide to sell your property you must make it certain what is
the basic object of your sale : like you intend to buy another property
by selling this (which could be more or less than its value), you
want to invest money in business or any other area. Other thing one
has to look at the property market situation as it has a lot of bearing
on your property sale prospects. If it is buyers market it will be
different scenario as compared to either sellers market or in a neutral
market. You will have to adopt the right strategy according to market
and your requirement.
If you intend to buy another property, which is bigger (thus expensive)
it is advisable to sell it when the prices have crashed. You would
defiantly get less price for your property as compared to natural
market, but your purchase for a better/bigger price would also be
cheap and you would need to add less money to buy your required property
as compared to scenario when the market is giving you a better price
for your own property.
If you intend to invest the realized money in business of any other
area you should try to sell it at a time when there is right price
available. Though like stock markets it is difficult to predict what
is the highest and lowest market price but one can find out the right
market prevailing price of similar property which you intend to sell
and once you are able to achieve your target price you should sell
your property.
No doubt you need to present your property in a manner that it should
appear to be one of the best proposals available for sale to intending
purchasers. At the same time you must appreciate the plus and minus
points of your property and calculate the right price for the property.
It is very easy if you take a look at your property with an eye of
a buyer.
Some of the important points you should take a note while selling
your property :
Make a Summary of your property : (It should include the following)
Built up area, Accommodation, Plot Area, Construction quality, Age
of Construction, Its location and property ownership title. Other
details like Electricity load, water supply, house tax structure,
distance from the market, schools, hospitals, airport, railway station,
bus stand, etc. also make an impact on sales of your property price.
Any other positive point/s should also become part of this Summary
but minus points of your property must be at the back of your mind
so that when you negotiate your property price you know them.
Decide who would sell your property :
You should decide whether you intend to sell your property on your
own (a difficult scenario) or you intend to depend on a real estate
agent :
If you intend to sell your property on your own (as quoted above it
is a very difficult and tardy process) you would need to place advertisements
in Newspapers and Websites. Before you place advertisements you should
be ready with the summary of the property and the right price you
expect for your property. It is a common trend today to expect some
bargain so people normally quote little more than the price they wish
to get for their property. So, you should quote a little higher to
the caller and in case you give the right price you should mention
that this price is not negotiable. You should be ready with all answers
to questions which a Buyer could ask (which would be available if
you have the summary ready with you).
In case you decide to sell your property through a Real Estate Agent
you should select the right estate agent. The right real estate agent
is a person who is dependable, established and has a good reputation
in the market. Further, he should have a good knowledge of property
trade and the laws in operation in the state. Though real estate consultants
list your property without any charge, one needs to be careful in
choosing them as they are representing your property. A good real
estate can bring in good clients and results. Check the real estate
agent's infrastructure, experience, his knowledge of the trade, some
references he could provide. You can check up with your friends, and
other people then decide which real estate agents is suitable for
the job. You may opt for an exclusive real estate consultant, in case
you feel he is worth it or you can select two or three only to list
your property with them. It is not at all in your interest to list
your property with too many estate agents.
Find out the Right Price :
Once you know the right price of your property you would be able to
sell it at the earliest. Everyone wishes to attain maximum price for
his property. However you need to be realistic. There is no point
that your property is listed at a higher price but does not conclude
in a transaction. At the same time you would not like to sell your
property lower than the market price. Best way to ascertain the right
price is to check up with real estate agents the price of a property
similar to yours, check up with friends and neighbors if they know
the price of any property sold in your vicinity. Then compare the
plus and minus points of that property with yours and you can come
to the right market price for your property. Nevertheless, if your
property is good for a self user you can get a better price from an
end user as compared to a builder who would pull down the entire building
to make new flat/s and he would never take the cost of an existing
construction into account while making an offer for your property,
whereas an actual owner would be willing to pay a part of it.
Some more useful tips :
If you try to negotiate the brokerage of the real estate agent, his
interest in your property would become low so don't try to cut on
his brokerage.
Let your estate agent know your property details and the summary you
have made as it would make him aware of every positive aspect of the
property and he would be in a better position to market your property.
If you wish to sell your property on your own, place advertisements
in Newspapers which have better circulation and place your ads on
days when they publish special property pages. But this process involves
lots of efforts, dealing with all sorts of people and a lot of epense
on advertisements.
Put your property in presentable condition so that when a buyer visits
to see this property it does not appear to be in a bad shape. Small
expense on getting the right lighting, paint and clean floors would
fetch much better price.
Don't show your desperation while negotiating your price. Remember
if a buyer likes your property he would pay a good price but if he
does not like it he won't buy it even if you reduce your price.
Send comments/suggestions about above article
to admin@delhipropmart.com
* Information
posted above is for reference only.
|