In order to sell your property without difficulty and for a fair profit, there are a few helpful tips to keep in mind. We have arranged these for you according to the preparation phase. Even a good realtor can provide tips on how to sell house fast in your area.
Use these important tips and tricks during the preparation phase to develop your optimal and successful sales strategy for your house and condominium
Give yourself plenty of time to prepare for the property sale. Prepare carefully for viewings and price negotiations. Check the buyer’s creditworthiness and do not hand over the keys until the purchase price has been paid. A good broker will get you a good selling price.
7 Preparation Tips To Sell Your House Successfully
1. take your time
Before you sell your house, you should invest time in the necessary preparatory work and organize the sale with foresight. Do not underestimate the scope of your project. Because selling real estate is complex and requires specialist knowledge. Selling under time pressure always has a negative effect on the selling price. Obtaining documents from authorities can sometimes take several weeks. With the help of a marketing concept, you can check in the ongoing sales process whether your measures are developing favorably or whether adjustments need to be made.
2. Set your goals precisely
First, ask yourself a few basic questions about your goals:
- What sales price am I aiming for?
- Do you still have to repay a loan?
- By when should the purchase price be reimbursed?
- Do I need the sum to finance a new property?
- Which furnishings do I want to sell (kitchen, furniture, sauna, …)?
- When can the move be completed at the earliest?
- What is a realistic and appropriate time to sell?
- Is there a seamless transition between moving out of the old and moving into the new property?
- Can’t I imagine certain uses and renovations after the property has been sold?
3. Develop a feeling for the right selling price
Anyone who overestimates the value of their property in the purchase price directly discourages potential buyers. On the other hand, if you underestimate the achievable value, you make a loss. Scientists have shown that a moderate starting price of around five percent above the target value is most effective for average properties. Also, remember to allow room for negotiation.
Decisive factors for determining the price are the following:
- the location, the city, and the district
- the property size and orientation
- the standard land value, i.e. the value for one square meter of undeveloped land
- the current use (is the property free or rented?)
4. Up to 30 percent higher sales price for unlet real estate
As a rule, you can achieve a sales price of up to 30 percent higher for your property if it is not let. For this reason, you should, for example, use a tenant’s move-out to sell your property more lucratively. To do this, involve your tenants in the house sale in good time. In some cases, you have an obligation to inform your tenant when you sell your home. Your tenant may be interested in buying the apartment himself.
5. Right decision: self-marketing or broker?
Many people underestimate how time-consuming and costly it is to successfully sell a property. It also requires expertise that laypeople normally do not have. If you are able to conduct a market analysis to estimate the selling price, take professional photos, place advertisements, design an exposé, conduct purchase negotiations with prospective buyers, and coordinate viewing appointments, you do not need a broker. However, if you feel a little overwhelmed by this list (which is quite normal), we recommend that you seek the support of a professional realtor for a successful and uncomplicated property sale.
6. compile all the necessary documents at an early stage
Questions from prospective buyers can be answered faster and more precisely if you have all the information together. With complete documents, the broker can also create a high-quality synopsis, which simplifies the search for interested parties and the negotiations. The sooner you have all the documents ready, the easier it is to process the sale.
7. make your property shine
When viewing, but also with the photos for the synopsis, the following applies. The first impression counts! Accordingly, you should get your property in top condition both inside and out. First, create order and cleanliness and clear out dark corners. Then carry out the necessary repair work and maintenance. By decorating in an appealing but neutral way, you create the right atmosphere.
If necessary, get professional help for so-called “home staging “, which means the visual and emotional enhancement of a property. Also, remove personal furnishings such as photos and paint the walls white so that prospective buyers can imagine how they would furnish the home.