Evaluating Your Home
Planning to sell your home? You better be well-prepared!
Selling a home can be a tricky task considering the current scenario of property in India. The Indian real estate is a market brimming with sellers of new and resale property, with an ever-increasing number of buyers. If you are one of those who are looking to sell their property, you should be familiar with the basics of evaluating your home and perform thorough property analysis before attaching a price tag to your property.
It is important to accurately estimate your property value while putting it up for sale. Be wary of the fact that while you may be wanting to gain the maximum possible value from your property, quoting an unrealistic price can discourage even the most potential buyers. Similarly, quoting a price lower than the existing market rate may get you lots of buyers in a very short time, you may end up incurring considerable losses in the process.
An important task at hand while selling property in India is to conduct thorough research on the prevailing market rates. Being such a vast and diverse realty market, property prices in India vary considerably by region, city and even locality. Being familiar with the prevalent property prices will help you quote a feasible price for your property.
While selling property in India, it is also important to stay updated with the latest property prices, as the rates vary from time to time, and the prices may not stay the same for more than a month or two.
As with most other transactional businesses, you need to keep a track of what the competitors are doing. Find out about similar options on sale and compare your property value against theirs. This is a good way to maintain competitive pricing.
In case you are selling a property for the first time, do not hesitate to hire the services of a professional real estate agent. An agent will not only help you find a buyer and negotiate the best possible price, but will also assist you with important paperwork including stamp duty, registration and legal procedures. Real estate agents usually charge a 1-2% commission to the seller on sale of property, but it is well worth it considering that it makes the entire process very reliable and hassle-free.
Follow the above property evaluation tips to crack the best deal while selling your property in India. Visit PropTiger.com for more real estate advice.