Are You Ready To Sell Your Home This Year?
Rates of property in 2018 remained flat in most key markets. But, there were certainly some exceptions. Data available with PropTiger.com show that rates of property in Hyderabad increased 11 per cent year-on-year in the second quarter of the current financial year. With the way things are progressing, show trends, rates of property are expected to grow further in cities such as Pune, Bengaluru and Hyderabad. In a scenario such as this, sellers could expect a better deal in 2019 if they decide to actively look for a buyer in the New Year. While doing so what else should they keep in mind?
Get ready to be probed
Past few years have made buyers quite apprehensive about the sector, and quite rightly so. The negative stories about the sector have made them look at almost everything with a suspicious eye. Since the real estate law does not have under its ambit resale properties, they are likely to be quite jittery when they engage in such transactions. They come to the market, expecting to be cheated or duped or harassed. In a nervous state such as that, they might make inquiries that may sound “too much” to you, or they may ask questions that could find offensive. In place of seeing it as egregious behavior, take it for a sign that buyer is genuinely interested in making you an offer upon being satisfied. That would leave no room for you to getting offended. By and by, your sincerity will gain trust and you would strike a deal much sooner than later.
Several positive outcomes have emerged out of all the negativity that surrounded the sector in the past. Today's buyers are well aware of their rights. They would come prepared to ask the right questions and would not be satisfied with anything less than the right answers. This means passing off a property that has any “issues” will not be easy at all. It would only be the best to share each detail of the property with them. In case there are any flaws or legal issues, they should be made aware of the fact. You would be surprised to see that you would have a much willing buyer if you are forthcoming about the “issues”.
Price it reasonably
Rates of property are slowly rising ─ while rising may look like the most charming word in this sentence if you are a seller, you must also be acutely aware that “slowly” happens to be the operative part of this factually right sentence. What does that mean? Do not get over enthusiastic when your buyer reassess your property, and decides to quote a new rate for it in a new market. Price your property logically and realistically. This is certainly a market where you would not have to suffer losses while selling your asset. However, this is certainly not a market where you could be making big gains out of the sale. Do have a look at the ongoing rates of property in your area, and then arrive at a logical conclusion in terms of pricing. While doing so, the quality and age of your home must be taken into account.