Tips for sell­ing your prop­erty fast

Lesotho Times - - Property -

THE suc­cess of your of­fer to pur­chase a new home may well hinge on your abil­ity to sell your ex­ist­ing prop­erty within a rel­a­tively short time, and not be­ing able to do so could prove dis­rup­tive in many ways, not to men­tion costly.

This is ac­cord­ing to Jan Davel, MD of the Realnet es­tate agency group, who says you might not be able to move in time to start a new job, for ex­am­ple, or to re­lo­cate your fam­ily and get your chil­dren into their new school at the start of a year. Or you might have to rent ac­com­mo­da­tion in a new lo­ca­tion un­til you can sell your old home and se­cure the pro­ceeds.

In ad­di­tion, even if you aren’t living there any­more, he says you will have to pay the bond as well as the rates and ser­vice charges on your old home un­til it is sold which will, in all like­li­hood, take longer be­cause it is un­oc­cu­pied.

“In short, no one wants to go through months of the anx­i­ety and up­heaval when sell­ing their home.

What ev­ery­one in this sit­u­a­tion hopes for is a quick, clean trans­ac­tion so they can move on with­out look­ing back.” And apart from lo­ca­tion, Davel says the ask­ing price is still the most im­por­tant fac­tor in sell­ing a house quickly; so you need to get it right, first time. If your price is too high the prop­erty will linger on the mar­ket, and if it is too low, you will cer­tainly sell quickly, but prob­a­bly lose money, he says.

How­ever, he says the value of the home, on which you will base your ask­ing price, is determined by a wide range of fac­tors, and you will be well ad­vised to seek the ad­vice of a trained and ex­pe­ri­enced es­tate agent who is familiar with your area.

The num­ber of bed­rooms and bath­rooms, as well as the di­men­sions of all rooms will play a role, he says.

The ap­pear­ance of the home, the build­ing ma­te­ri­als and the fin­ishes are also im­por­tant, while im­prove­ments such as new­lyren­o­vated bath­rooms and kitchens could in­crease the value some­what.

Then no mat­ter how lovely and well­main­tained your home is, the con­di­tion of the sur­round­ing homes in the area will also in­flu­ence the value, so lo­ca­tion will come back into play in this re­gard.

“And of course a home should also ‘fit in’ with oth­ers in the neigh­bour­hood. For in- stance, a large fam­ily home may not at­tract its full value if it is sur­rounded by high­rise apart­ments or lo­cated in an area that mainly at­tracts re­tirees.”

By now, Davel says de­ter­min­ing the mar­ket value of your home may start to sound like a tall or­der, and this is where a free com­par­a­tive mar­ket anal­y­sis (CMA) drawn up by an agent with ex­pert knowl­edge of your area is likely to prove an in­valu­able tool.

“Re­view­ing re­cent ask­ing prices and sell­ing prices of sim­i­lar homes in your neigh­bour­hood, as well as the length of time it took to sell th­ese prop­er­ties, a CMA will give you a re­ally good in­di­ca­tion of where you should pitch your price to achieve a sat­is­fac­tory sale within a rea­son­able amount of time, and of how much you may need to lower it if you need to sell re­ally quickly.”

— Prop­erty24

You will be well ad­vised to seek the ad­vice of an ex­pe­ri­enced es­tate agent who is familiar with your area.

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