5 Early Steps To Selling Your Home

For any home owner, selling off his house is not an easy task. Notwithstanding the emotional upheaval, there are several tasks that one has to complete prior to selling the apartment or villa. These tasks would make the transaction a safe one and provide maximum returns on investment, which would somewhat offset the emotional and financial obligations already in place.

If you are planning to put up your property for sale in India, it is imperative that you begin with these five crucial steps:

1. Clearing dues

One of the best known ways to get good money for your property is by clearing the dues on it. Normal real estate rules dictate that if the owner of the property does not clear the dues, then the prospective buyer does but deducts the amount from the sum payable to the seller. Therefore, you should clear all dues on your home such as property tax, water tax, electricity bills, society and maintenance charges and other amounts payable. Once you clear these dues, you should have the receipts and certificates of clearance safely with you so that you can furnish them when needed.

2. Clearing home loan

If you had bought the apartment on borrowed money, you should look to clear out the loan. Most banks do not charge any money on pre-payment of the loan or foreclosure. Hence, you should pay for the property for sale in India. However, if the amount is very large, you can negotiate with the buyer to deposit the down payment amount in your loan account to close it. Alternatively, the buyer can also use the amount that s/he has borrowed from the bank to close your loan.

3. Organizing the documents

Before entering the property market, you should have all the legal papers in order. Some of the documents that should be there for ready-to-move-in apartments in India are registration certificate, mutation certificate, sales deed, letter of allotment, loan clearance certificate (in case there are no outstanding dues on your property) , sanction plan and encumbrance certificate to prove that no legal dues are outstanding on the property. These documents are mandatory to be presented to the buyer for scrutiny. They will also prove to be important at the time of drawing up the agreement.

4. Fixing the House

Prior to holding open house showings, you should clear out your furniture and personal belongings from the apartment. Hire a storage space to keep your stuff in to give a new ambiance to your home for sale. You should also get minor repair works done on your property such as fixing lights, taps and shower nozzles, removal of mould and filling up cracks in the wall. If you can spare some money, you should get the house whitewashed or distemper-painted as well.

5. Hiring the right broker

Brokers have a natural vested interest in getting your property sold because of the commission associated with it. However, select the right one who will look out for your interest without delaying the sale. A good broker will bring in serious buyers who understand what your house is worth with respect to the other properties in the neighborhood. He will also help the negotiation between both parties.