The property you're selling needs to be completed first. This means that all construction work should be completed before advertising. This especially applies to finishing works, small repairs, replacement of worn parts, painting and the like.
Furthermore, the sale of flats goes far easier if the first impression of it is pleasant. In order for the first impression to be good, it’s important that it does not contain redundant things, that the space as a whole is not cluttered and that there are no evidentlydirtyor worn objects.
Take care of the lighting (replace burnt light bulbs, or add new stronger ones, blinds to be raised when customers arrive, the terrace to be cleaned and without drying laundry, the flatto be tidy, and if you have a pet, try to be on a walk, when the customer comes to look at the flat).
The same goes for the sale of houses and plots. In addition to the interior, which should be neat, attention should be paid to the property as a whole, i.e. to the facade, garden and fence. Painting the fence and fixing its mechanism is not a big expense, and can significantly contribute to a better impression.
In many cases, the renovation of the flat (partially or completely) significantly raises the price of the property on the market, especially if it is an old flatin its original condition. In such cases, investing in renovation of the flat before the sale pays off multiple times. If you have a dilemma about the cost-effectiveness of construction work before sales, you can consult an architect.
The sale of real estate is a complex legal process for which you need original and certified documentation of ownership. This may be one of the following documents:
● Purchase Agreement
● Gift agreement
● Inheritance Decision
● Title deed (excerpt from the Real Estate deed)
● Decision from the Real Estate Cadastre
If you are selling an unregistered property, you should have all documents saved from the first owner to the last. However, you should also consider initiating the registering process because the largest number of buyers want the registered propertyonly. An already started registration process gives better sales prospects.
The real estate agency is a great support in the process of selling real estate. Some properties are almost impossible to sell without intermediaries.
The agency for the real estate brokerage service charges a commission in the amount of 2% of the real estate value. In addition to trade brokerage, agency services include:
● Free Property Appraisal
● Free legal counselling with an agency lawyer
● Presentation of the property to potential buyers
● Financial Advisory
● Assistance in collecting the necessary documentation
● Scheduling the verification of documents with the Notary Public
● Drafting of Preliminary Agreementand the Purchase Agreement
● Attendance at disbursement if necessary
You should choose an agency that has licensed real estate agents and good practice behind it.
It is impossible not to notice that real estate prices increased significantly during 2021 and 2022. However, this does not mean that the price of the property should be raised so that it does not correspond to the price range of the property of its category.
Real estates that has real market value are best sold.
EUROPOLISReal Estate Agency provides a free real estate appraisal service, performed by our most experienced agents. Read more about HERE. This valuation of the property is not binding, but purely informative.
The property presentation should include a detailed and accurate photo shoot in good resolution. Before taking a photo, make sure to remove personal items like clothes, shoes, food, and packaging to improve your shot.
Photos should be posted on well-crafted ads that will appear on real estate portals and agency sites.
The real estate agents will accept the obligation to contact the interested parties by leaving their contact phone. They will only show the property live to more serious potential buyers, and the negotiation process is only entered into with the most serious offers.
This is a much more comfortable option than selling real estate on your own, when you can expect phone calls at any time of the day. In addition, real estate agents possess all the skills to highlight the advantages of real estate and selling it.
It is common to negotiate the price when selling real estate. The sale of flats without price negotiation is rare, except in the case of the sale of a new building.
The price is generally lowered by 5-10% if there are more serious arguments. When setting the first price for advertising, this is generally taken into account and consciously leaves room for negotiation.
When negotiating, arguments in their favour should be prepared in the form of advantages such as:
● Location
● Number of floors
● Condition of the property
● Good orientation of the flat (enough light)
● Good general condition of the building and good neighbourhood
● Attractive surroundings (close to the market, shopping centre, vicinity ofKošutnjak, Zvezdarskašuma, Ada…)
● Location where property prices are on the rise in the longer term
When negotiating the price of aflat, you can rely on the help of the real estate agent and the agency as a whole. Negotiations are best conducted by an experienced agent, who will amortize any unpleasant moments ofreconciliation. The agreement on details and presentation of documentation to the customer is most often organized in the pleasant premises of the agency, which makes the whole experience more relaxed.
The sale of flats (sale of houses, plots, business premises) can also take place in the presence of the owner's lawyer, as well as in the presence of other persons who are welcome at that moment.
Signing the Preliminary Purchase Agreement and providing a down payment is a common part of the real estate sale procedure, although it is not mandatory. When the property is ready to receivea new owner, and the buyer has the funds ready to buy, they can immediately go to the conclusion of the Purchase Agreement.
After concluding the agreement on the final price of the property, the drafting of the Preliminary Purchase Agreement, which may and may not be certified by a notary, begins. The recommendation of the agency is certainly the verification of the Preliminary Agreement, especially if the deadlines are longer.
Preliminary purchase agreement is obligatory when applying for a housing loan, when waiting for registration documentation, etc. On this occasion, a deposit is also given, as a rule 10% of the value of the property.
The certification of the Real Estate Purchase Agreement shall be performed by a Notary Public. The PurchaseAgreementshall be sent by the notary to the competent Cadastre and Tax Administration. After the verification, the payment of the total or remaining amount of the value of the property in the commercial bank is also made from the buyer's account to the seller's account. The work is completed by certifying the statement of receipt of the total purchase price, with consent for registration (clausula intabulandi).
The process of selling real estate can be very stressful and time-consuming, with unrealistic expectations and betrayed hopes if it is approached in the wrong way. It's just not how it works. By engaging a good real estate agency, the sales process is significantly shortened, automated and the chances of a more financially successful sale are improved.
EUROPOLISREAL ESTATE is at your disposal for free real estate appraisal and legal counselling already during the planning of real estate sales.
Published on: 2022-08-20
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