Currently, selling a home can
span a period of just three to four months, unlike during the real estate boom,
when this process is completed in a week. In the following you have 10 steps
that Dean Graziosi recommends to streamline this type of transaction, from
negotiating prices for home release.
First step: Pricing
Most of the owners decide to sell
their home if job changes when a new job is located in another area or even
another city, and due to increasing family, a larger home is becoming
necessary.When you decide to sell your house, the first thing you need to do is
establish a price. For this, you shall have different techniques, among which
comparison method, which involves checking for available similar home-profiles
and information from neighbors or neighborhood block recently traded like a
home, to find price area. To establish the price, another method is to consult
a real estate agent, but according to experts, this technique is rarely
adopted.
The second step: Preparing documents
After setting the sales price,
preparing documents necessary to complete the transaction: Sales of property,
which proves acquiring housing, land book extract, Cadastre and registration,
which add energy certificate mandatory for homes sold in the First Home Buyer program.
Take as an example the case of an
apartment with two rooms and a total area of approximately 50sqm, located in
an old building, which cost energy certificate stands at around $200. Cadastre,
which is issued after 30 days, costs $300, plus tax and registration for the
owner will still be out of pocket 120 lei, aiding, and land book extract, which
costs about $ 20. If the owner solicits issuance and land registration in
emergency and 10 days, costs will be 5 times higher.
Step Three: Costs
If you choose to work with a real
estate agent, it is important to note that the amount of commission amounts to
3% of the transaction value plus VAT, the commission can be negotiable. Also
for exclusive representation, the commission charged by estate agent may be
lower. In addition, upon completion of the transaction, the owner must pay a
transaction tax on the amount of which varies according to the period in which
the house was purchased. Otherwise, if a property held for less than 3 years,
worth over $200,000, the tax will be 3% of the price plus 2% of the amount
exceeding $200,000. In case the property has been owned for more than three
years, the tax will be calculated as follows: 2% of the sale price if it is
below the amount of $200,000, and 1% of the amount exceeding this amount.
Step four: Getting your home ready
After completing the necessary
documents to start a transaction, you will transfer your attention into prepping
your home for sale, trimming which may consist of repair, renovation and
cleaning. According to experts, it is not recommended repairs before the sale,
and if the house is renovated, it must be ventilated and have a neat appearance
and welcoming. There are also various tricks and tips to leave a pleasant impressive
customers: a clean bathroom, bedroom set, leaving no grounds for assuming
personal items and wall painting and repairing pipes where necessary.
Step five: With or without an estate agent
Once you have decided to sell
your home, you can choose between consulting a real estate agent and acting on your own. If you opt for
the latter, then you can post your ad on a website of costs hovering around
$3.10 plus VAT. If you wish to be represented by a real estate agent, you need
to find a real estate agency located near home sales and collaborator choose
based on recommendations received, and his resume. Among the duties of the real
estate agent selling lists, mediation and counseling owners on the trading
price and their housing.
Step Six: Presentation of future housing
After the announcement of the
sale of the home is made public, on either mls or by estate agency, by posting
a banner, triggers the next stage, that of home viewing by potential buyers. In
general, a customer viewing twice the same apartment, and when he makes a bid
in most cases has already gained experience in views.
Most times, bids are verbally,
but if traded properties are worth more than $1700 / sqm bid is in writing.
Also, final negotiations, experts recommend choosing a neutral ground who does
not belong to any party.
Step seven: pre-contract
Once both the owner and the buyer
have agreed on a price, they will sign a pre-contract, as required if the
purchase is made through mortgage. When the price of housing to be acquired
through the first house and the cost is about $60,000, pre-contract deposit is
required for maximum $3000. After the
pre-contract was signed, is necessary to evaluate the property for $ 400-600
USD, the buyer is the one who will bear the cost.
Step Eight: Final Contract
The final contract can be signed
at about 30-45 days after the end of the preliminary contract. If a loan type
first house, pre-contract is concluded for a period not exceeding two months,
and for a mortgage classical period is about 2 weeks. Today, about 80% of
transactions are concluded through housing loan. If homes purchased with cash,
energy and pre-contract certificate is optional.
Step nine: Receiving money
For real estate transactions
through a bank loan, the loan amount is transferred to the seller's account
after the credit agreements and the sale was signed, and in some cases, when
ownership was tabulated in the land. The transfer fee for the account is
deducted from receiving credit, the buyer. Amount of commission can be fixed
around tens of dollars, or may represent a percentage of the transfer, most
often below 0.3%, depending on the bank and currency. If the seller wants to
withdraw the cash after the transfer, it will incur a cash withdrawal fee and
any other fee charged for. In general, as a percentage of the total amount
withdrawn, withdrawal fees are higher than the interbank transfer. In most
cases, however, the withdrawal fee is 0.5% of the amount transferred is divided
between the seller and buyer.
Step ten: Getting out of your house!
After the contract of sale, the
owner has a period of 30 days to release the house. At the same time, it must
provide proof to the new owner of the last bills paid utilities. Also, the
buyer can keep some of the existing furniture, depending on negotiations held.
After completion of the last stage of the sale, the current owner's real estate agent can receive from
additional services, such as transport new furniture or renovate housing.
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