- By Daniel Smith
- Published Yesterday
If you are planning to sell off a real estate property, you have two options – you may do it on your own or appoint an estate agent for this. While appointing an estate agent may seem expensive, it often saves a lot of hassle for the property owner. Whichever option you choose, it is good to have an idea about the way this works.
Here is a step by step guide to the selling of property, which you may find helpful.
Opt for a valuation: It is better to seek professional help for property valuations, as this requires specialised knowledge and skills. The valuation would be able to help you understand the current market value of the property.
Determine the method of sale: You may opt for an agreement with an estate agent, giving them the responsibility of selling off the property and charging a percentage of it as their fees. If it is an exclusive property, you may also choose to sell it off in an auction.
Advertise to enhance visibility: A strategic marketing plan is essential to ensure that the target buyers know about the sale. Newspapers, classifieds, brochures, signboards, online listings and so on are used to generate awareness about the availability of the property.
Prepare the property for viewing: A little refurbishing can bring about considerable change to your property. Competent estate agents offer presentation advice to ensure that the prospective buyers are impressed with the property on their first visit.
Arrange the legal paperwork: Get advice from your estate agent and solicitor to prepare the necessary documentation related to the sale. Handling the legal part of the transaction on your own may not be a good idea, especially if you lack the necessary knowledge.
Negotiate the offers: If you have negotiation skills, you may handle the task on your own. The estate agents have the necessary knowledge to advise you about the market values of similar properties and help you make an informed decision.
Agree to sell: After you, or your estate agent, have negotiated an offer, you may proceed with the sale. The buyer pays a refundable deposit at this stage. They may also arrange for a survey and evaluation of the property.
Sign and exchange contracts: You need to understand every detail in the contract before signing it. In most cases, the buyer signs the agreement and sends it to you for signing. Clarify every clause before signing the contract.
Completion of transaction: Your solicitor would consult with the solicitor of the buyer to determine the date of completion of sale. After the buyer transfers money to your or your solicitor’s account, you need to vacate the property and hand over the keys.
Appointing a competent estate agent for handling the sale of a property, right from determining the rates in Dublin City to completing the transaction, makes the process hassle free. All you need to do is find the right estate agent, determine the services you require, and enter into an agreement with them for selling off the property.
Daniel Smith has worked as property consultant in Irelandand specialises in offering real estate advice. He provides tips and suggestions for understanding the commercial rates applicable on properties. If you are looking for information on Dublin City revaluations, he suggests you to visit http://www.lisney.com/ for more details.