If you are making your mind for purchasing or selling a property, just watch. Property buying and selling needs a great sense of judgment-making and a Watchful planning at the investment stage itself could really avoid trouble and many sleepless nights.
The tips below are not comprehensive; though they will serve you as a check list to plan your deal in advance.
Before you buy a home gather adequate information about the property to make a deal smoothly:
Study: Read existing materials, talk to associates and specialists, and mess around looking at different homes, schools, and neighborhoods.
Sketch a Diagram: Spotlight on the vital factors and arrange the entire process. You may even want to use a folder with sections on house hunting, home financing, service providers, etc.
The exact location: It’s always better to search for a location that preferably is in line with your income and choice. Get an idea about the connectivity of the area to the fundamental needs of life – hospital, entertainment, shopping etc and the people living in the area.
Make a high-quality pact: Evaluate the cost of the property you are interested in with similar property in that area. A broker can be very helpful in this view as he can give you with the list of few transactions that has taken place in recent past in that area, which will give you a fair idea. A veteran agent is always a ideal option as he would be able to judge the area that will fit in your budget.
Closing costs: The closing cost includes costs incurred on brokerage, registration, stamp duty, insurance, property taxes, and amenities charges and so on.
Legal aspects: Before buying property, it is advisable to sign up a solicitor to inspect the original title documents of the property being purchased. If the title is not clear, the number of complications arising in future may be numerous.
Before you sell a home
Keep in mind your house is the one potential buyer want to come back to for a second look.
Maintenance: Even small faults in your house might look big in the vigilant eyes of the buyers. Cleaning the external and internal area, giving the rooms a vivid look, creating speciousness and illuminating the house can make a huge difference in the prospective buyer’s mind.
Spreading the News:You can advertise in newspapers or on websites to sell your property. However, handling your own sale means you will be responsible for placing ads, answering phones and showing your home to visitors.
Real estate agents: The commission rate charged by an agent may differ, depending on where you reside or what agency you choose.
However there are some benefits of going through professional real estate agents. They will help you with:
- Establish a reasonable asking price for your home.
- Promote your home to other agents.
- Register your property in several listing services giving maximum spotligh.
- Schedule appointments to show your home to prospective buyers.
- Refer you to sources for insurance, inspections, legal counsel and financing.
- Help you negotiate with the buyer.
Setting a Fair Price:Some of the factors to consider in pricing your home are:
• Locality.
• Financial situations.
• Supply and demand in the local housing market.
• Extra features in your house, etc.
Qualifying a Buyer:
A number of factors will help determine the right buyer for your property:
• The buyer’s current earnings and service.
• The length of time the buyer needs before closing deals.
• How interested the buyer seems to be in your home w.r.t others.
