Take These 10 Steps To Find A New Owner For Your For-Sale Home

Investing in a home in residential projects in India is always a major decision, but selling it requires a lot of preparation. Over the years, the home you have lived in has built some equity value that you can cash in on. Nevertheless, this is easier said than done. Buyers today are well-informed about the availability of choices, the different price points, as well as their own preferences. Therefore, if you are planning the sale of your home, you need to be at least equally prepared.

Here are 10 steps that will help you find a new buyer for your property for sale in India:

1. Get the timing right: While most property prices tend to shoot up over time, real estate is an extremely volatile market where the timing can make a big difference. Before you put your home up for sale, identify whether it is a seller's or a buyer's market. In a seller's market, you get to name your price and time while in the buyer's market the controlling power rests with them.

2. Chicken or the egg dilemma: Identifying the market conditions can also help you make your own decision about buying a new home. In case you are worried about whether to buy before selling the current home, you can always consider keeping an extended “closing period” to the sales agreement.

3. The right man for the job: In the Indian context, though people are exploring more and more options online, spreading the message by word of mouth remains a popular and effective mode of advertising. Choosing the right realtor can make a big difference, as they tend to have extensive contacts that can help you get the right price.

4. Making it formal: By signing the Listing Agreement, you get the details of your agreement with the realtor on paper. While this authorizes the realtor to market and sell the home, it also spells out other conditions such as brokerage, time limit, etc.

5. Price it right: Sellers are usually confused about setting the right price. Getting a property appraisal done can help you fix the bar at the right price.

6. Appoint a solicitor: Selling a home requires getting all the paperwork in order. It is usually in your interest to appoint a solicitor or a notary to ensure that everything is done legally.

7. Prepare the home: Before you open the doors of your home to potential buyers, inspect your home impartially. Wherever required, do the touch-up or de-clutter the space to make it look more presentable to the buyer.

8. Lay back and relax: Once you have finished preparing the resale apartment in India for viewing, it is time that you let the realtor work his magic. It is now his responsibility to market the home to potential buyers. He may require the floor plan, layout and other details that you will need to provide.

9. Negotiating process: The realtor will be your point of contact with the buyer and, hence, he will also be the bearer of news. You have the choice to accept, reject, or make a counter offer to the one the buyer gives the realtor. This volleying of offers will continue till you reach a mutually acceptable point.

10. Close the deal: The buyer may take some time to conduct due diligence on the house once the offer is finalized. Once the agreement for sale has been signed, it is your responsibility as a seller of the ready to move in flat in India to get the necessary papers ready for formalities like registration, mutation, and transfer of conveyance to the buyer. The realtor can be quite indispensable in this process.

And if you have managed to sell your home at the price and terms that you wanted, it is time to heave a big sigh of relief before getting started on preparing to move in to your new apartment in India.