5 Important Tips For Selling An Apartment
Black Stone Estate Agent is one of the leading estate agents in South Manchester. When you instruct us to market your home you can be sure to receive a professional and enthusiastic approach from our experienced and dedicated team.
If you decide to sell an apartment (and especially if you are doing it for the first time), it is better to contact qualified realtors. It is better not to resort to the help of brokers, casual acquaintances and even relatives: their intermediary activity may turn out to be not disinterested. In addition, you do not have to independently search for advertising channels and place ads, attracting potential buyers. The specialists will also help you with the transaction.
An agreement must be concluded with the intermediary, which clearly indicates the rights and obligations of the parties, the amount of the intermediary fee, and the advertising channels used for the sale of real estate. Please read this agreement carefully and, if in doubt, consult with an independent attorney prior to the final signing to sell an apartment. The price of an apartment is also determined together with the realtor since the agencies have statistics on the demand for real estate and are able to compare specific offers.
Sometimes, upon the termination of an agreement with a real estate agency with which you did not like to cooperate, you will have to pay a penalty (check its amount before signing the agreement).
If the agency specifies the maximum percentage, then think about the services of another realtor or bargain with the agency for better terms.
“Dress up” your apartment
Potential buyers will form an opinion not only about your apartment but also about the house, entrance, and yard. Perhaps you will not be able to improve the yard, and this is not your task. But ensuring cleanliness and sufficient lighting in the staircase is quite within your power.
Experienced realtors advise putting an order in the apartment before the shows, and if necessary – minor repairs. Plumbing must be in good working order, windows and doors must not hang on hinges and have working locks.
Take the trash out of the house, and if possible, then some of the furniture – light and clean rooms that are not cluttered with things, seem more spacious.
Even if you have almost completely freed the apartment from furniture, leave the curtains on the windows – they make the room look more comfortable. It is desirable that the curtains and wallpaper are light. Add a bright and memorable accent to the interior: put a vase of flowers, choose bright pillows for the sofa and armchairs. It is best to remove worn carpets from the floor, but if the parquet looks bad, put an inexpensive temporary covering on it.
But, of course, it makes no sense to make a luxurious renovation in an apartment – the money spent in full is never returned. It is much wiser to do some minor cosmetic repairs to make the apartment look clean and comfortable.
Schedule your visits
If you have used the services of a real estate agency, then discuss with the realtor in advance the schedule of showing the apartment to potential buyers. Most often, they are produced at the first request of buyers, so check this item in advance so that you are not disturbed at any time of the day or night.
Realtors advise not to overstate the cost of housing. In a stagnating market, it is better to set an adequate price: there are a lot of offers, and overvalued options will lose in comparison with the rest. When choosing options, a potential buyer will focus on the minimum (or at least average) prices.
How attractive your offer is will become clear within the first few weeks after it goes to market. If you are convinced that the apartment is not too interesting for buyers, it may be worth lowering the price a little. Then your home will gain a competitive advantage in its segment.
Record agreements with the buyer
If you have found a buyer and agreed with him on a deal, take a deposit, and record the agreement on paper. It is also important to negotiate the terms of the penalty in case one of the parties breaks the deal.
If the buyer offers to buy an apartment from you in installments, then this option is possible if you initially had problems selling the apartment (it was not very popular) and you do not urgently need money. In any case, when selling in installments, do not register the property in the buyer’s name until the last installment has been paid.