Issues You Need to Face when You Sell Your Property

Whether it is the buying or selling of a property, the entire process involves several factors which can help or stand in the way of making a good …

Whether it is the buying or selling of a property, the entire process involves several factors which can help or stand in the way of making a good investment. Selling a property fast is not that easy a task. You need to anticipate all the issues that may occur and be ready to face them.

Location Matters

Since this is a factor that cannot be altered, you need to work around it to ensure you get a good deal.  One way to make up for the lack of advantage in the location is to make the price and the condition of the property attractive. Look over your property and do the necessary repairs and other improvements that increase the value, before you put it for sale. The pricing should also be done taking into consideration the prevailing prices in the area and what your competitors are selling for.

Hiring a Real Estate Agent

If you are selling your home for the first time, doing it under the guidance of a real estate agent experienced in handling the sale is the right way. Though the commission demanded by agents is high about 6% of the sale amount, this will ensure that the property sale goes without any hitches. A reliable agent will help you get a fair deal and also increase the chances of a quick sale. The agent can deal directly with the prospective buyers, so you are freed from the task of dealing with them. Doing so eliminates the emotional quotient that might prevent you from making a good sale.

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Legal Opinion

When you find a prospective buyer, you need to draw up a proper sale agreement which should be done with the assistance of an experienced solicitor or a licensed conveyancer. What a conveyancer does is verifying the purchase and sale agreement, and the details included in it like the sale price, deposit, the completion of the sale and conditions that have to be met with before the contract can be put to effect. Reviewing all this is necessary to ensure that the sale is done according to rules.

Paperwork Needed

A lawyer usually requests the following documents.

                    Copy of the property survey done

                    Details of mortgage including the address, name, and reference number of it

                    Copy of the tax bill and the taxes paid so far

A lawyer will take care of the foreclosure of the mortgage and the procedure involved in its discharge. You may have to pay penalty of about three months of the lender’s interest for foreclosure and also registration and administration fee for the process. Adjustments related to equipment rental, alarm system, and other common expenses or rental amount should be informed to the lawyer, so appropriate steps are taken to address your compensation.

Generally buyers will need to do an inspection of the property, before the sale is finalized. This process and the final transfer and details involved are verified and seen to appropriately with the help of the agent and the lawyer, so the selling process is efficiently done.

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Shaun discusses all those steps that you need to take care of while selling your property. He also makes you understand what a conveyancer does and choose the right one, before you resolve your property issues.


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