The asking price is, in fact, the third most important factor for purchasers to consider after location and surrounding amenities.
Customers in modern-day Mauritius conduct their own homework before making purchases because of the wealth of resources at their fingertips online. They know how long a home has been on the market by looking at the sales of similar properties in the neighborhood, as well as by collecting their own data.
One of the worst blunders you can make in today’s market, when anybody with an internet connection may list their property for sale, is to set an inflated or unrealistic price for your home or apartment. Some potential customers may lose interest if you’re off by only a few rupees.
will not notice your home offered due to search filters, or will not consider it in their list of properties to view due to psychological biases (price perceived as too low synonymous with low quality or possibly undetected problems/price perceived as too high synonymous with out of budget).
The present COVID-19 scenario in Mauritius has just added further complexity to the process of estimating your property’s true worth. As a result, setting a selling price for a home or apartment has become one of the trickiest decisions to make. And without an expert appraisal, you may be doing more harm than good.
Plus, the old adages in psychology are always useful.
Owner: “I need a high asking price so I can make as much money as possible.” Obviously, you do; that’s a given. Who doesn’t want to save money in order to put it toward a better investment down the road? However, in most cases, this does not lead to a better bottom line. The contrary is usually true: if you list your home for more than it’s worth, you may have trouble selling it for a while. Blank months will follow each other, during which some visitors will show up but no serious purchases will be available. Potential buyers are wondering what could possibly be wrong with your house if no one has purchased it in the past. For fear of making a poor choice, they deliberate carefully.
Owner: “I estimated my property myself.” While you may get your home sold fast if your appraisal is lower than the market price, you may end up with a lot less money than you deserve and so miss out on other chances.
Tenant: “Landlords constantly ask for more than they’re worth since they know we’ll negotiate.” Again, many potential buyers cannot picture themselves purchasing a home without first haggling over the price. Their asking price does not reflect the ‘true’ asking price in the market. It might be difficult to fight with a buyer and stand up for one’s rights in regard to the price of a property without a professional appraisal. The professional’s factual and reasoned explanation of the estimate’s estimated selling price gives both parties confidence in the estimate’s accuracy.
One of the most important factors in making a sale of your home is the asking price.
Here are three recommendations from real estate pros that can help you receive the maximum money when selling your home:
Compare your property to others on the market to get a sense of what the going rate is and how long the average listing is on the market. Keep in mind, though, that not all homes that are advertised as “for sale” online actually end up selling.
For an accurate assessment of your home’s worth, it’s a good idea to see a real estate agent.
Talk to your agent about the current state of the market, the sorts of buyers that are interested in your area, and the upgrades you can make to your home to get the price you want.
To get the most money out of the sale of a home or apartment, you need to put in a lot of time and effort. When an offer is finalised, it is not necessarily the ‘finish line’ because of the administrative and legal hurdles that might occur at the notary’s office.
To further complicate matters, first-time sellers often lack a firm grasp on the ins and outs of the selling process, as well as the psychological elements that may influence a buyer’s final decision.
First-time buyers and sellers in Mauritius would be wise to educate themselves on the ins and outs of the real estate transaction, including the many parties involved, the expenses, the legal procedures, the implications of a bank loan, and more.
If you want to sell your home in Mauritius quickly and for the best price, contact us for help and advice.
