Selling a house is one of the most important financial transactions. However, at times, it can be very stressful. Here, we have distilled the process into 7 easy steps. The following steps will assist you in selling the house quickly and at the best possible price.
Step 1: Learn the market Trend:
Before getting in touch with any real estate agent it is necessary to have knowledge about the trends of housing in the nearby area. Many realtor sites can also provide information on various houses for sale in the nearby locality.
- Collect the information about homes sold recently in the neighborhood, and how long it took before being sold.
- Understand seasonal trends in the real estate market and find the best season which will eventually help in fixing the best possible price for selling your property.
From the analysis, you can learn about current demand in the market.
(We can write small blog on seasonal trend)
Step 2: Choose sale partner:
To sell a property, you have 2 options:
1. Sale through agent
Real estate agents will have a better knowledge of the market. Their marketing and negotiation skills can help you in selling your home quickly and at the best possible selling price. If you go with this option then, find out the approximate agent commission and list out the topmost realtors in the locality, suitable to your requirement.
2. Sale on your own
If you choose to market your home alone then you need to have a clearer picture of the market trend. You should have good negotiation skills. This idea is cost-effective but may take longer to sell the property.
If you choose to sell your property on your own then, many real estate portals are available. These sites can help you sell your home quickly and will be the most cost effective alternative.
If you want to find the best estate agent in South Africa, check the below link: Estate Agents In South Africa
Step 3: Prepare Your Home:
“ First Impression is the Last Impression”. A well-maintained house will provide an extra edge to sell your home quickly. To avoid any reason for buyers to negotiate you down, it is better to fix all the maintenance issues like:
- Fix the leaky tapes or faulty switches
- Replace broken or chipped tiles
- If required, give the fresh coat of paint
- To make the exterior more attractive, clean up the garden and pool
Home staging is the art of decorating the home to highlight the most impressive assets of the house. To increase the number of potential buyers, home staging will be very crucial.
Here’s the checklist for preparing your home before sell: How to prepare your home for sale
Step 4: Fix the appropriate price:
After knowing the market trend of nearby localities, you can fix the rough selling price. However, to find the best possible price for selling of your property, proper analysis of the property is required. Property analysis considers the size of the property, neighborhood, and nearby amenities like gardens, parks, schools etc as well as the utility age of the building. One can use online sites or can take help of valuer for better property analysis.
Fixing the appropriate sale price requires choosing the price of your house which can attract the prospective buyer to consider the property and which can also avoid the bargaining war.
It is important to keep in mind that nowadays buyers are equally knowledgeable and nothing can kill the deal faster than overpriced property.
For online approximate estimation of your property check the below link: Building Value Calculator
Step 5: Reach market with the proper advertisement:
To attract more buyers and to get a quick sale, marketing is the most critical and crucial step. Use both digital as well as print media for more exposure of your property to the interested buyers. The ad should include:
- Describe primary features like the type, size and location.
- Highlight the important features and nearby important amenities like hospitals, schools, etc.
- Use high quality images to showcase your property in print and digital media. For that,use a decent quality of camera or hire the photographer to have a high-resolution image.
Try to enhance the features of your house using the best possible light and surroundings. The pictures should include all minute details of the exterior and interior of the house. Drone photography will be a better option to give a clear idea to potential buyers.
Step 6: Conduct viewing and receive Offers:
After marketing, if you have hired an agent, then,your agent will conduct the viewing of your house for interested buyers.At this step, buyers will get a chance to look closely at your property. Here, the agent will get good time to interact with buyers and to show them important features of your house.
Open viewing will give an opportunity for potential buyers to experience your home. It will be the key factor for you to receive the offers.
Before conducting an open house view, make sure that the home is clean and tidy. Try to vacant some of your property so that buyers can have an undistracted tour and safeguard your valuables.
Step 7: Finalize the deal:
After open house viewing, the interested buyer will have to sign an offer to buy. When both, buyer and seller sign the document, it is called a legally binding sales agreement.
After signing the sales agreement, the documents are submitted to the conveyancing attorney. The attorney will take care of all the legal documentation and will get the property transfer from your name to the new home owner’s name. The whole process may take up to 3 months. The conveyancing attorney will ensure that you receive the proceeds of the sale. It is highly recommended that you hire a qualified conveyance.
Here are some tips before hiring an attorney general: tips on hiring an attorney or lawyer in South Africa