5 Tips for Property Vendors
Are you are considering selling your home in the Quinta do Lago and Vale do Lobo areas? Rebecca Thomson, co-founder and real estate consultant at Liberty Real Estate reveals her top 5 tips for property vendors that are worth considering:
1. Get Legal Advice
In this fast paced market an offer can come in quickly and you will be able to make the most of it if you already did all your legal homework before the first potential buyer even visits your property. Your lawyer will be able to ensure all the property documentation is correct and up-to-date and warn about anything that could prevent or delay a sale.
2. Get Tax Advice
This is even more important if your property is owned in a corporate structure, as you will need to understand fully what the costs will be when selling the company or in the event that you may sell the property out of the company. Having clarity on all the figures before setting an asking price will help you make the best decision when an offer comes in.
3. Prepare Your Property
Whilst we wouldn’t recommend any major renovations when planning to sell, it is a very good idea to repair all minor issues such as any visible cracks, missing pool tiles, any damp areas or damaged fixtures. Removing excessive items to allow a space to feel brighter and possibly less personalised will help a potential buyer to visualise themselves better in the property. This is maybe less important when selling a site, although it can still be cleaned up if this improves its outlook.
4. Choose An Agent Ideally Suited To Your Property
They should be specialists in your location with a good track record of sales achieved. Even in today's strong seller’s market, your property will achieve the best price if presented to all qualified buyers, so check whether your chosen agent also works with other property consultants. Also consider the advantage of dealing with a bespoke agency, such as Liberty Real Estate. You will have a more personalised service when dealing directly with the owners of the company and greater degree of confidence knowing it will be them also dealing directly with every potential buyer. Understanding your motivations and goals as a vendor through that direct personal contact will allow them to guide the buyer and achieve the best results for you.
5. Full Disclosure
Once you’ve selected your agents, it is important to let them know of any issues at all with the property that you may be aware of and also to allow your lawyer to release all the property documentation to them. It is not unusual for there to be some complications such as equipment that no longer works, areas that don’t fully conform with the plans or a high contingent liability within a company. If these are not addressed with a buyer from the onset and come up during the due diligence or survey, they can become dealbreakers, whereas an experienced agent will be able to fully mitigate against that by dealing with it at the appropriate stage, early on in the process.
If you have any questions or would like further information and tips for selling your property watch the full video below or contact our experienced and professional team today on +351 289 093 700.