1. Property documents
Especially with older real estate are often missing, for example, authorized building documents (building permits for new construction, renovation or expansion, building descriptions and drawings/floor plans), an energy certificate, an official site/ground plan or, if it is a residential property, the declaration of division and completed closure, the protocol from the owners meeting or the business plan.
If the purchaser needs a loan, the bank requires complete documentation of these documents.
2. Inadequate organization
What do I really want to achieve, when and how? Before you put your property on the market, you should be clear about certain questions to ensure a clear process. By what date do I want to sell the property? When do I want to handover my property? When do I need to receive the purchase price? How high should the purchase price be? Where should I advertise my property? Which information do I have to reveal?
Or how do I know the buyer will pay?
Selling is a process where all procedures build on one another or overlap. Overlooking something here can cost you time and money.
3. The correct purchasing price
The stumbling block that annoys you the most is making a mistake here. As every property has its own advantages and characteristics, it is difficult for an amateur to determine a realistic purchase price. If the price is set too low, you are giving away money. If you set the price too high, you risk having a slow sell. The longer the property is on the market, the more likely you will have to reduce the purchase price. Either way, you will be losing money. If the marketing time is extended, you may not be able to achieve the time slots you originally set. Better to sell at a realistic price in a timely manner.
4. Customer selection
Long queues in front of your house or phone calls until late in the night from interested parties, though not every interested party wishes to purchase property. There are a wide variety of interested groups in the real estate branch. There are the real estate tourists who just want to have a look. Then there’s the eternal searcher who can never make a decision. The newcomer, who wants to have a look around and see what the possibilities are. All of these types are no help. You are looking for someone who is determined with a serious goal to buy, has spoken with the banks, is definitely ready for a change. These are the type of people you want to filter out and put them at the top of the list for viewing the property. You will save yourself a lot of time and complainers.
5. Hard negotiations
You should be aware that a prospective buyer may have a change of mind, in order to pursue his own interests. This usually is about the purchase price. It’s in our nature to think we feel better when we have gotten a good deal. It is unlikely that the buyer will also try to negotiate with the notary. Don’t rush your sale. Allow yourself enough consideration in advance and you will save time and money.
If you would like further information on this topic, please contact us. We are very happy to advise you.
VENT-Immobilien Bad Saarow
Fürstenwalder Chaussee 3b
D-15526 Bad Saarow www.vent-immobilien.de