Real estate is the name given to a property that is anchored to the ground, like a home, a commercial premise, a garage or storage space, etcetera. While it’s true that a big part of investing in real estate is to buy, there’s also the option of selling it.
In general, people who sell real estate do because they want to invest in a new one, like a moving family. Other people who often do it are real estate agents, who make a living buying and reselling the property.
Any way you do it, you always need to be attentive to the value a property has accumulated through the years, especially after remodelling or additional construction. Here are some tips you can take into account when selling real estate:
1 – GET THE HELP OF A REAL ESTATE PROFESSIONAL
A real estate agent is the best person to help you out through this process. They’ll know the market, prices, fees, contacts, and many other important things that will make your sale as smooth as can be. They can even help you with the valuation of your property.
2 – MIND YOUR PAPERWORK
It’s important to have all the documents relative to the property in order. Make sure all the data in those documents is flawless, without mistakes or omissions. Also, at the time of the sale, it’s important to have a carefully prepared contract.
3 – REMODEL AND FIX AS MUCH AS YOU CAN
For the sale to be effective, you have to maximize the positive aspects of the property to make it more attractive to buyers with good offers. Mind the utilities, the space, the floors, the windows, the comfort of the rooms. Also, with time, real estate requires repairs, maybe because of leaks, faulty locks, etcetera. You must account for all of this when performing the valuation of the property.
4 – INFORM YOURSELF
Depending on the area where the real estate is located, you’ll be able to find out the market pricing. This is an advantage when selling because you’ll better understand what you’re offering. It’s also a good idea to inform yourself about the profile of potential buyers.
5 – ESTABLISH A BASE PRICE
With the help of a professional, you’ll be able to evaluate the price of your property to put in on the market. Taking the remodelling you’ve done and the area into account, you can come up with an attractive price that will lure potential buyers.
If you need the help of a real estate agent contact us at The Coto Group, at our phone numbers (305.422.9286 / 305.803.3059), and follow us on social media @TheCotoGroup to know more about real estate all over Key Biscayne and Brickell. With over three decades of real estate experience, The Coto Group will solve all your real estate needs.