Real estate investment is not considered liquid as selling a property can take a long time and you might not necessarily get its market value back when you sell it – especially if you’re trying to do so quickly. So what to do when you have to sell your property and get the money back, what should be the right approach, how to deal with the resale process, etc. I am sure you must be getting all these kinds of questions in your head when you are considering selling off your property.
This post is going to help you in selling your property fast so read it till the end.
- Set a deadline: first and foremost, set a deadline for yourself for selling your property. Timeline will help you in speedening your process. set a target for yourself or for your agent, it could be end of financial year or 2 months before buying the new property, anything.
2. Hire an agent/broker/real estate consultant:
If you think you can find the buyer and close the transaction and do paper works on your own, that’s good but if you want to avoid the time-consuming process then I suggest contacting the agent. It’s always advisable to go back to your trusted broker rather than finding a new one. They will charge their commission but they will certainly help in finding the buyer, doing paper works and closing the deal. in fact, some of them also do property management in your absence.
3. Price your property rightly: Do correct valuation of your property, exorbitantly high price won’t help in getting you a buyer. If you think that your property demands a minor repair and that can help in getting the good value then get the repair work done first and then ask for the price. Your broker will be helpful in letting you know the current rates of your property in your location.
4. Register it online or spread the words: Other than hiring the broker you can also register your property on online portals or circulate the words in your circle to widen the reach. You never know someone in your circle can be a potential buyer.
5. Have documents handy; Along with the property listing and hiring a broker, you should also have your documents like sale deed, registry, loan closure etc handy to save some time. This will make the deal go hassle-free.
If you’re on a tight deadline then selling your home can be stressful. Fortunately, whether you need to sell fast because of a new job, a life event (e.g., parents moving in), or financial reasons, there are ways to speed up the process. A quick tip here would be to be ready for small negotiation. If you come across a good buyer and if this is happening between your set timeline then lowering the price a little bit can help in closure and hence selling your home.