If you’re looking to sell your house or apartment, proper planning is key. Planning to sell your property yourself? Then it’s all the more important to be prepared – and be aware of the biggest obstacles.
If you’ve ever sold a property, you’ll know the process isn’t always plain sailing. Although you can save on estate agent fees with a private sale, there often isn’t much profit left over. This can be down to a lack of professionalism or a price that’s too high or too low. There are many setbacks – be they small or more significant – that can crop up during a sale. However, if you prepare well and plan your sale properly, you can avoid most stumbling blocks.
Be realistic when estimating your selling price – after all, if it’s too high or too low, this can negatively impact your chances of success. You may struggle to find suitable buyers in the first place. If the property is on the market for too long, this also has a negative impact on your listing’s credibility. In the worst case scenario, you’ll need to keep lowering the price. If you then end up being able to sell the property, it’s often for a much lower price than if you had made a proper estimate at the beginning.
A price that’s too low will attract interest – and you’ll often be able to sell your property very quickly. However, when you realise how much more you could have made from your property, this can leave a nasty aftertaste.
Sales documents are key to a successful sale. They should offer a clear and comprehensive breakdown of all key data regarding the property and its location, and provide a general overview. It’s also crucial that your sales documentation features compelling copy and high-quality images. Words and visuals will spark potential buyers’ interest and create transparency.
Once people are interested in your property, it’s time to handle the administrative and legal side. In most cases, prospective buyers will make a deposit to reserve the property. This should be accompanied by a separate reservation agreement explaining what happens to the deposit if there is no contract for sale. The sales contract will then be drawn up by the notary. Make sure the sales contract covers the following:
Important: Once you’ve signed the sales contract, it usually takes a little while longer for the transaction to be entered in the land register. The property only belongs to the buyer once the entry has been made in the land register.
Selling a property is a more complex and labour-intensive process than many imagine. In particular, if you haven’t sold many (or any) properties before, you’ll need to get to grips with the whole subject first. That’s why it’s important you set aside a lot of time and energy for this big project. It isn’t just drawing up sales documents that takes time – coordinating enquiries and viewings is particularly time-consuming, too.
If you’d rather sit back, relax and leave selling your property in the capable hands of the professionals, our real estate agents will be happy to answer all your questions. Even if you’re concerned about costs, the bottom line is that in most cases you’ll wind up with the same or even more profit. After all, our experts know how to show off your property in its best light, how to negotiate a great price and how to find the right buyers fast with our internal customer search database.
Get in touch with your nearest Engel & Völkers shop. Our real estate agents have a strong network in your local area and know what its key selling points are. We’d be happy to answer all your questions and draw up a detailed price estimate – free of charge and with no obligations. Get in touch – we look forward to hearing from you and finding out more about your project!
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