There are 4 main factors which need consideration in selling your house. These factors can be used to turn your worst nightmare into a best friend – greatly increasing your chances of selling your home effectively and quickly.
This is an area which many people tend to overlook and is the single most important and most difficult factor in selling your home. Yet, if properly managed, it is one the factors which virtually determines whether a potential buyer offers you the money or not for your property. As a result, literally hundreds of thousands of home will never sell simply due to an unreasonable price.
Obviously, if you are selling a $1-million property, with 100% overheads, you will be well out of balance with your asking price. But even if you are selling a million dollar property with the same 1% overheads, it still substantially impacts market price. It’s therefore vital that you carefully consider your asking price in order to maintain a fair split.
A fresh coat of paint or a major upgrade is likely toender a reduction in the asking price due to the perceived low value it represents. However, should you hire an outsider to do the job, it’s likely that potential buyers will also be keen to secure their own renovation to avoid perceived loss after purchase. Should the work cost a more reasonable ¬ $5,000 versus your original estimate of $10,000, for example, expect a reduction of $10,000 or more.
The more convenient your property is for potential buyers, the more opportunity you’ll have to make the sale. Surely, the more convenient a property is to key areas of a city, the more attractive it will be. Consequently, if you can close a sale relatively quickly, you’ll also tend to earn this advantage. Should you be desperate to transact, a deal of a lifetime could be agreed upon immediately, rather than taking weeks to navigate the local bureaucracy.
The location of your home will determine the ease in which you can rent or resell your property. For example, South Mumbai, east London and Dubai are just a few areas which have grown in popularity over recent years. Because of the ease in which these markets can be accessed for business or leisure reasons, property prices in these areas are continuously on the rise. This presents a great opportunity for you to beat the competition, which can appear relatively quiet due to the lack of competition. However, there will always be better deals somewhere else in a different location.
Have you ever tried having multiple offers on your property? It’s incredibly difficult to determine which property is best, and can take months to conduct a sale of even the best property.
Most property transactions occur extremely quickly, but property disputes do still occur. Every day, thousands of property questions are asked on Trulia. ONE Happy customer was asked why they were in a dispute, provided:
– The list price was too high;- They were offered an alternative offer before the exchange of contracts;- They experienced problems with their solicitor;- They wanted a guarantee of both parties’ businesses during the exchange of contracts;- The vendor had to obtain a building license;- The letting agent over-priced the property.
The best solutions will only come from someone who can explain what is really going on in a particular area. Disadvantages can also be identified by those who are a little skeptical about the source. In contrast to the often forgotten tried and true method of determining why certain buildings are skyscrapers that are in an office park, property information from your local Solicitor or Chartered Surveyor can help reduce the mystery. The following questions will also reveal why they are living in a particular building.
Using the list given above can go a long way to helping define your property, which will in turn give a better image to potential purchasers. Buying a house in a row with a view requires a certain level of privacy, but being located in the centre of London, on a big building, uses their very body as a soapbox to the great effect. So it goes without saying that it’s adjacent to strong visual Capital, but also that they have the best views in town.
The right answer to both these questions is “it depends”. But it depends a lot on which of the 3 principle you employ:
1) Condition2) Location3) Price
When you use these principles, you will be making a bold step towards your target. You will manage to convey your message effectively making the often less cost effective methods of selling property much more interesting.The research you carry out should help maximise returns, but only if you understand how it is done correctly!