LOOKING TO SELL YOUR PROPERTY IN PAPHOS IN 2019? - PART 1
HERE WE WILL GUIDE YOU TO UNDERSTAND HOW TO SELL YOUR PROPERTY IN PAPHOS AS SEAMLESSLY AS POSSIBLE FOR A VERY GOOD PRICE WITHIN A SHORT TIME FRAME.
Of course, everyone shares a connection with their home which is almost like an extension of their personality, tastes, and values.
Most times, selling a home can be a difficult thing to do; however, it can be rewarding when you focus on the experiences ahead. Although this guide may not answer every inquiry of yours, we will be giving you the necessary information to guide you to a successful sale.
MEET WITH AN EXPERT
Firstly, it is important that you book an appointment with a property expert who will analyze the present conditions of the market and present all that is involved with advertising to you. Property experts will guide you in selling your property in Paphos for the best price within a short time frame. What is mostly required is your title deed copy or a duplicate of the purchase agreement.
DETERMINING THE PRICING
A property expert assist you to set a good price for your property, and this decision will be based on the following factors –
- Considerations on price
- Market value
- Conditions of the market
- Net proceeds estimation
Considerations on price
To list your property price, you should take into consideration the buyer’s mindset. Of course, if the price is exorbitant, buyers may never contact you even if your house is superb. Then again, if your house does not look as spectacular as the price, you may never find any buyers. Also, setting the price too low will only result in a loss even if you sell your house in record time. There is, also, the possibility that a little patience will bring along the right buyer for your price. You, therefore, need an expert to help you make the decisions.
By market value we mean the price a willing buyer wishes to pay that is acceptable to the seller. You should know that potential buyers usually shop around and will always compare the features and cost of your home to others to find what they feel is the right price.
Even if real estate experts can assist you with pricing, buyers always the determiners of value. Once they feel that your price seems too high, they will check out the next property. Setting a market value that is fair should be done by juxtaposing your property with other similar properties that have been sold in recent times.
Even if your home is best in Paphos, comparisons will always be made by buyers with every other house on the market. Professionals in real estate suggest that knowing the payment history of buyers in your neighborhood for the property is a good guide. The experts can provide you with sales data to carry out its comparisons. This can help you to determine the best price for your property. However, you have the sole decision to decide what the price should be. You can, also, request for data on houses in your neighborhood that could not sell in recent months. Then again, if your property is unique, you could request for a written appraisal.
Conditions of the market
It is easier to sell houses in Paphos faster when there is a boom in the real estate sector. However, slow market activity can result in prolonged with periods. The right experts can help you to ascertain if your area is a buyer’s market where you have to put forward a bargain price that is attractive or a seller's market where you can set your price even above your originally intended price. According to research, if a house stays on the market for too long, it will eventually sell for a lower price. If potential buyers notice that your property has been listed for too long, they may be turned off.
There are sellers that simply state the lowest price that they would accept while some inflate the figure just to see the outcome. If you wish to inflate the figure, ensure that you have enough time and then work out a plan. After some time has elapsed without any prospects, you could try reducing the price of your property. If that strategy still does not work, try lowering it again. Keep going until you get to a level that begins to attract prospects.
Net proceeds estimation
As soon as you have gotten your market value estimate, you will have a fairly good idea of what you might get once you complete the sale. This mostly helps if you begin to search for a new property in Paphos to buy. From the market value estimate, subtract the following –
- Your current loans payoff amount
- Your mortgage prepayment penalty
- Fees for your attorney
- Taxes for unpaid bills on your property (e.g. communal fees, electricity etc.)
- Fees for your real estate agency
- Tax on capital gains
With respect to closing costs, you may reach an agreement with your buyer that matches your interest regardless of the local price.