Caution Is The Word, Even For Sellers

Every time one thinks in terms of real estate, it is the buyers who are taught to stay cautious. And, rightly so! After all, we are talking about an investment that defines your monetary planning, its past, present and future. We can see that you have made efforts in the past to save money to be able to invest in your present. Re-paying your liability would be your future goal in case you went for home finance. So, caution is certainly the word for you since there is no scope to go wrong. However, is it only the buyers who have to be mindful while investing? What about sellers? Is the relevance of caution any less for this party that is in possession of an asset of high value? Certainly not! In fact, they run the risk of wasting their time, energy and money in case utmost care is not taken during the sale process.

Time is money

You are familiar with the purchase process. By virtue of that, you should be able to distinguish a serious buyer from a non-serious one. If you go on and entertain every person pretending to be a buyer, you may waste a great deal of time without being able to sell your property. At this point, it is worth mentioning here that the longer you take to sell your property, the harder it becomes to sell it.

Also read: What If You Fail To Sell Your Property For Long?

Engage only with genuine buyers, and try to entertain people who are only doing a recce to feel the pulse of the property market. At this juncture, they are quite far from investing.  

Ear to the ground

In case you have entrusted a property broker with the responsibility to sell your property, keep your eyes and ears open. Every time they tell you that “this is the best price you can get you're your property” or “this is the best time to sell”, do try to do a fact check. A close look at the market movements would be enough to tell you whether your agent is being genuine or he is only bluffing to earn his own cut. While none can gainsay the fact that real estate investments are made primarily to earn great profits, do keep your expectations realistic keeping in mind the market.In the current scenario, for instance, a seller may not be able to get for their property what they must have expected to earn when they made the purchase.

The buck stops here

You have several responsibilities as the seller. All property-related documents must be made available to the buyers to make sure you have stood by the rules of the agreement. All your dues with your housing society or the civic body must be paid to make sure you do not get into an awkward situation. In case you did not pay all your utility bills, for instance, the buyer is going to contact you later in case he misses the same at the time of purchase. Do not consider the job done till it is.