If you have an overseas property for sale, then the tips given here will be useful to you. Whether this is the time to sell your overseas property depends largely on the conditions in the country in which it is located and your own financial necessities. Let’s look at how you can sell your overseas property for the best possible price under the current circumstances.
#1. Many of us leave a property unfinished or leave many of the DIY jobs midway once we decide we don’t really want to stay any longer in the property and would rather get rid of it. Any unfinished job would only cause a potential buyer to lose interest in the property or think twice about paying the price you ask for it. This only gives them and excuse for bargaining hard. So finish any unfinished jobs on the property at the earliest.
#2. Clean up the overseas property for sale. No buyer would even consider buying your home if it’s in a messed up state. Ask yourself – would you buy a property and give a good price for it if it has an overgrown garden, a broken toilet, smelly kitchen sink, paint peeling off the walls? Certainly not! So clean up the house before putting it for sale.
#3. Make your overseas property for sale as impersonal as possible. Get rid of the family photographs, memorabilia or anything you have used to personalize the property. A potential buyer will want to imagine the home as “their home”, not yours, before deciding to buy it or not.
#4. Clear out the property. Remove as much of the furniture and furnishing as you can; leave the property as empty as possible. There are many studies done on real estate marketing that prove quite conclusively that empty space sell for more – buyers are likely to be attracted by an empty apartment or house than a furnished one.
#5. It is absolutely important to make a solid first impression. For this, you may consider getting your property renovated. Hire plumbers, electricians, gardeners and painters. The renovations don’t have to cost too much, they can be well within your budget. When renovating a property, your #1 focus should be on the kitchen and bathrooms, as homebuyers look at them first.
#6. Be sure to amplify or maximize the best features of your property so that it stands out clearly in a crowded marketplace. What makes your overseas property for sale special? Is it the classy living room area or the exquisite garden? Focus on that while marketing the property.
#7. You bought your overseas property for a lifestyle. Certainly, it is much more than just an investment for you. It is the lifestyle of the country that attracted you in the first place. For example, if you have an overseas property in Spain, you were no doubt attracted by the beaches in Spain. So you should project the lifestyle – the beaches, the sunshine, the relaxed way of life – while marketing your overseas property. You should make people want to buy into that lifestyle.
#8. Be smart about the price. If you get a good offer and it is only slightly less than what you’re asking for, take it! Be flexible about the pricing and sell the house as soon as you get a decent offer, don’t waste any time thinking about it.
#9. Get knowledgeable about the capital gains tax and the legal process involved in selling an overseas property. Hire a reputable lawyer who knows the ins and outs of the process. Ensure that all the paperwork is in perfect order. Hire a translator as well, to help you go through the documents.
#10. Finally, hire the top international property agents who have extensive contacts among rich property investors from fast growing emerging economies such as China, Russia, Europe, Scandinavia and the Middle East.
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