Things to do before you sell your home

[ecis2016.org] Here’s a list of things that you need to do before selling a home

If you are planning to list your home to sell it, follow this checklist, to ensure a smooth experience for yourself and your new buyer.

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Get the property’s valuation done

Once you have decided to sell the house, the first thing you need to do, is to get the property’s valuation done. While a number of advisors and agencies are available that can do the property evaluation, you can also do some research yourself, by checking online property listings to understand the prevalent per sq ft rate in your neighbourhood. You can then calculate the depreciation of the property, considering the property type. If you are planning to hire a property agent to sell the house, he will be able to help you with your property’s worth after considering the type of property, amenities and other facilities available with the property.

Inform the housing society

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If you stay in a gated community, you may need to inform your housing society or the governing body, to obtain a no-objection certificate (NOC). This is an important step in the process, as the new buyer would require all these documents for the due diligence. Moreover, since all the amenities would have to be transferred to the new buyer, an NOC is a mandatory document to obtain from the housing society.

Collect all important documents

Apart from the housing society’s NOC, you would also need other important legal documents to proceed with the property’s sale. These include:

1. Encumbrance certificate: This document will prove that there are no pending dues on the property or any kind of unpaid mortgage.
2. Previous sale deed: If the property has changed hands multiple times, it is important that you maintain the chain of sale deed, as it would be easier for the new buyer to do the due diligence.
3. Sanctioned plan: If you are selling an independent home, the sanctioned plan/map approved by the authority is one document that you have to present to the new buyer, to prove that the construction is legal.
4. Sale agreement: If you are selling an under-construction apartment, you will have to present the sale agreement signed by the developer. This agreement will be then transferred to the new buyer.
5. Letter of allotment: This is a document that proves the allotment of the property to the seller who has originally purchased the property from the relevant society/authority/developer.

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Prepare the home for staging

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Once all the documents are prepared, you can now consider staging your home for buyers to visit. If possible, vacate the home before putting it on the market for selling, as it will help the other party to see the space more imaginatively. If your property is very old, make sure you tell the buyer if there are plumbing, seepage or any other kind of issues. You can also renovate the home before selling it, to get a better price. However, you need to consider if the cost incurred in renovation is worth spending, especially if the property is too old and a new owner would rather prefer renovating it from scratch.

List the property/contact the broker

Once you have decided on the above factors, it is time to market your property to the buyers. With online buying gaining preference, you can list your property on online property portals such as ecis2016.org, where thousands of buyers browse property options every minute. You can also contact property agents, to help you find buyers through their network. While property portals are free, brokers would charge a commission, based on the deal amount.

Click pictures and videos for sharing

Buyers these days prefer to see the pictures and videos of the property, before the site visit as it saves time for both the parties. For this, you can either hire a professional photographer or follow these tips to make your home look attractive on screen. You can also use your smartphone to click basic pictures and videos. Share these with your broker or on your property listing to make it more engaging.

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Category: Lifestyle