IPN Cyprus

Tips for a First-Time home seller

anastasija@ipncyprus.com
Jul 12, 2023 3 minutes and 49 seconds

Price your home accurately


Deciding the price for your asset is one of the key decisions you will make as a home seller. Pricing it too high in comparison to the current real estate market will result in low interest, which also brings the potential risk of you having to drop the price too soon in order to gain more interest quickly, which in turn makes the potential buyers have doubts. On the flip side pricing your home too low will take away your bargaining power as well as profit potential.


By utilizing the knowledge and experience of a professional real estate agent and/or a qualified property valuator, you will be able to determine the best-asking price based on the current market, the area in which the asset is located as well as other details such as the area potential, age of the asset and more.


Consider staging your home to boost selling power and appeal


Even a few small changes, such as patching up the paintwork here and there, decluttering the space to make it appear more spacious and brighter or adding a few decor items can help you sell your home faster.


Buyers coming through your front door will notice all the little details in order to decide if it’s the right investment for them so make sure your home is in its best condition. Staging your home will not only increase its appeal but also provide you with more selling power.


Be flexible with viewing times


Many buyers will have life commitments during the working week, so try to be flexible with the viewing times and consider evenings and weekends as possible options. Equally, many buyers will be asking to see your home during the day so consider asking someone you trust to be there on your behalf if you’re busy or give your keys to the real estate agent to conduct the viewing whilst you’re away and you can meet the potential buyer at a later stage.


Paperwork

Potential buyers do not want to wait an extended amount of time for sellers to get their documentation in order for a sale to happen. Try and handle all of your pending issues before you list your property. It is suggested that you have an expert, usually a qualified lawyer that has experience in real estate transactions to guide you.


You will also most likely require lawyers’ services to coordinate the sale of the property once a buyer is found and the selling price is agreed upon, so it is good for them to be familiar with the important information relating to the property and not waste time in executing the sale.


Once you have all this information prepared, a professional real estate agent will know how to best market the property in order to attract the right buyers for your property.


Selling Process

You have shown the property to a couple of potential buyers and now have an offer which you are willing to accept – congratulations! This can be very exciting but also a stressful time for a seller.


Before accepting an offer, it is important that you understand the various payments and taxes (if any) that you would need to pay as you don’t want to be caught out in a situation where you end up with less money than you expected due to unforeseen costs.


Be consistent


When going to list your property for sale it is important to use the help of a credible licensed real estate agent. Make sure that the company you approach has the necessary licenses in place to showcase your property legally.


It is also important to speak to the agents and understand what they can do for you in terms of selling the property. For example, how will they market it for you? Across which websites? Some agencies will ask for exclusivity whilst others will not.


Which agent or agency you decide to proceed with is a personal preference, however, if you do decide to go for multiple agents it is important to make sure you supply the same listing price to all agents. Potential buyers like to shop around online and having the same property listed across various websites at different price points will confuse and put off potential buyers.

Source: https://www.thebalance.com/mega-tips-for-a-first-time-home-seller-4057383 

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