Things tThings to know before you sell your propertyo know before you sell your property Selling a property/site is not a simple task, it requires lot of homework to be done. One has to do all the work starting from finding a potential buyer till finalizing the sale agreement while selling their site/property. Following are some necessary tips to be kept in mind while selling your property. Know your property/site value: The first important task which all sellers need to do is to find out value of their property. In the process of assessing the property value, one has to consider other related factors such as upcoming projects and amenities provided in and around the property location etc. if your property is located at the IT booming areas, then in future your property may be worth higher as compared to current prevailing price. So it is important for you to evaluate the correct price for your site/property. Individuals can enquire about the market value of similar sites in their area, or can arrange a real estate agent to determine their property value. Property details should be clearly furnished to the buyers: In order to get a good buyer, seller has to furnish a detailed property report. The report should include the exact property built up area/carpet area or square feet, price per square feet, its location, surrounding plots/neighboring resident areas, various amenities provided near the property location. By providing a clear report on the property details, sellers are making the buyer to easily understand the property which is available for sale. These property details can be furnished through newspaper advertisement with attractive titles or through word-of-mouth. Nowadays there are various web portals offering platforms to sell your property/site as a free service. These web portals give spaces to fill in all your property details at one click - one can make use of these web portals and get benefited from the same. In the second case, if you plan to approach a real estate broker, ensure that, the broker has a good track record and reputation. Also discuss their fee in detail or their percentage of commission while selling your property. It is advised for sellers to know the credential details of the buyer by knowing their financial background and affordability status. By analyzing a buyers credentials one can easily sort out whether the buyer is a potential property purchaser or not. Documentation process: Once you got a potential buyer for your property/site, the next step is to get tied up with the process of payment and legal documentation of the property. Remember, negotiation plays a hidden role while selling a property/site, therefore ensure that the negotiation amount is optimal on both the side of purchaser and seller. After fixing the payment amount, obtain no objection certificate (NOC) from the governing body, this task has to be done before proceeding into property registration. By fixing an appointment with the sub-registrar you can register the property in the buyers name after the full settlement.
Posted on: Mon, 27 Oct 2014 07:21:59 +0000
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