Introduction: the sale of real estate is a serious and important transaction that requires proper preparation and understanding of all the important issues involved in the sale process. It is useful to know what are the costs and obligations associated with the transaction, how to make a proper valuation of the property and how to conduct the process of negotiation and conclusion of the contract. In this article we will discuss all the necessary information that will help you prepare to sell your property.
How to value a property for sale?
- To value a property for sale, there are several factors to consider:
- Location and surroundings
- The condition and age of the building
- The area and layout of the rooms
- Standard of finishes and furnishings
- Availability and quality of infrastructure
- Market prices of similar properties in the area.
After adding up these factors, you can compare with average market prices and value the property based on this information. You can also use the services of an appraiser or real estate agent.
Market prices of similar properties in the area.
“Market prices of similar properties in the area” means the prices for which properties with similar characteristics (e.g., size, condition, age, location, standard of finish) in the same or close vicinity are sold. To get information about market prices, you can:
Browse listings for sale of similar properties on websites such as olx or otodom
Consult a real estate agent or appraiser
Check real estate transaction statistics.
Property valuation should be based on actual price data for similar properties in the area, not on theoretical prices or estimates. Information on market prices is essential to obtain a realistic valuation of the property and allows you to know the market value of the property
What else is worth knowing before starting to sell a property?
Before starting to sell a property, it is worth knowing:
- The legal status of the property: whether there are any encumbrances or restrictions on the property, such as mortgages or zoning restrictions.
- Costs associated with the transaction: such as the real estate agent’s commission, notary fees or sales tax.
- Legal regulations: such as the obligation to notify the relevant tax office of the sale and pay sales tax.
- Ways of presenting and advertising the property: such as photos, videos and descriptions, which should be attractive and comprehensive.
- The process of negotiating and concluding a contract: it is useful to know what the standard procedures are and what documents are necessary to finalize the transaction.
Remember that the sale of real estate is a serious transaction, so it is worthwhile to prepare well for it and know all the necessary information to avoid possible problems and get a satisfactory result.
