Before you start on the journey to market and sell your residential property, it’s essential to be mindful of factors that may impact the success of your home sale. Several pre-selling considerations from understanding the real estate market trends for selling price determination to enhancing your property’s appeal, all add up to maximizing the potential of your property in the competitive real estate market.
Making a lasting first impression holds true, especially when prospective buyers visit your residential property. While conducting a property tour, the initial moments significantly influence the decision-making process. Even the slightest of defects might affect a buyer’s perception. Therefore, it is paramount to get the repairs done and avail of home refurbishment services before you start marketing your property for sale to capture the interest and confidence of potential buyers.
Along with property condition and location, your knowledge of the local housing market, economic conditions, and supply and demand factors can impact the price of your real estate holding. The basic step to be taken is analyzing the recent sales of similar properties (comparable) to gain insights into the local market trends. Hiring a professional real estate valuer/appraiser is highly recommended to assess the value of your property. The appraisal provides an unbiased and expert opinion, which can be beneficial during negotiations.
Keep a set of your house documents ready for buyers’ scrutiny. A legal representation in the closing stage can protect your interests and assist you in drafting a sales contract. A sales contract consists of the sale price and its inclusivity, the decided amount of down payment, the date of settlement and possession, details of the amount and length of the loan, and the determination of how the closing costs would be divided between the buyer and seller.
An experienced real estate consultant can play a significant role in offering guidance on pricing strategies with their valuable insights into the market conditions. The consultant can give maximum exposure to your property. Having a property consultant saves you time as he becomes a representative of your house and schedules appointments to show your home to prospective buyers on your behalf.
At Allstate, we bring an experience of over four decades with a diverse range of offerings catering to all your real estate needs. Beyond real estate consultancy, we offer a full spectrum of services such as financing, valuation, legal assistance etc. Get in touch with us today to know more about how we can enhance your real estate journey.
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This article is drawn from Mr. Shreepad Nayak’s insights as featured in the Mumbai Builders & Developers Directory.