How you can speed up the sale of your property
Category Property Tips
Seeff continues to see the outlook for the property market as upbeat with demand in the market supported by factors such as the interest rate which, despite the recent 50bps hike, remains below the pre-pandemic level.
The market is further supported by the favourable bank lending conditions with mortgage originators reporting that approvals are still taking place at a faster rate while deposit requirements are the lowest in over a decade.
Time is money and for sellers a property which stays on the market or where there are delays in the transfer will be a cause of unnecessary frustration not just to the seller, but also the buyer.
It is therefore always advisable for sellers to ensure they prepare their documents and property upfront so that the sale and transfer can be as expeditiously as possible.
Some of what should be done upfront include:
An upfront valuation of your property can help avoid disappointment so that you can have a realistic expectation of what your property might sell for in the current market.
Accurate pricing is not just the key to a faster sale, but may also result in a better price. Overpriced properties are also usually overlooked, or buyers may want to discount the asking.
Choose an agent who is well established in the area with proven track record of sales success. Avoid selecting someone on the basis of a high price promise because this could waste valuable time.
Present the property in the best condition by having all repairs and maintenance done before it is listed. A well-presented property means the buyer is not distracted by anything.
Gather all the necessary documentation upfront including personal documents as well as company or trust documents and approvals and the title deed (if appropriate).
Sellers should also have the approved building plans on hand. Outstanding matters relating to the plan and building compliance should be attended to before listing to avoid costly delays.
Another important aspect relates to Compliance Certificates. Get the necessary inspections and repairs done and the certificates issued as quickly as possible to help avoid delays.
Ensuring the property is in a saleable condition from the onset puts the seller at an advantage while providing provides peace of mind for buyers.
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Author: Gina Meintjes
