Key Points While Selling Your House

Selling my house can be at times a very unrewarding experience for any individual.  While doing the sale, the biggest question is how to sell it fast and make more cash. Buying and selling of property primarily depends on the real estate market conditions as well as on certain economic policies. When market conditions are good, you could find lots of potential buyers as well as properties that are readily available. With attractive interest rates, there would be buyers who would be ready to take home loans. So selling or buying would pose no major problems in such a situation. But when interest rates go up or in case of bad economy, it is very difficult to find buyers in the real estate market.

Ways to sell your house:

There are many ways through which you can sell your house. The best way is at times debatable because there are many options available today. You could market them either through online mode or offline mode. The choice is yours:

Online Mode of Advertising Your Property

  • In online mode of advertising, you place advertisements regarding the sale of your property or publish photographs of your house in various internet sites. Moreover, this mode of advertising is free and there is no real estate agent involved. The site is always open and buyers can view your home at any time of the day.

Offline Mode of Advertising Properties

  • In case of offline mode, selling my house can involve real estate agents or online realtors. It can be done privately also. Spread a word about the sale to your neighbours, friends or relatives. Display posters or boards in front of the house. Apart from involving real estate agent or online realtors, many times, selling is done through tender process. This tends to give a competitive sort of atmosphere for the buyers. Unlike auction, there is no listing price or reserve price in the tender process. Buyers quote a price and the highest price quoted will be selected by the seller. It is up to the seller to select the offer. Moreover, in this process, everything is kept confidential and will be revealed only at the time of announcement of the tender.

Documents Relating to Sale

  • The important documents while going for selling my house is the sale agreement and purchase agreement. The agreement usually has the title, area of the property, survey certificate and other general documents relating to land sale like No Objection Certificate. Apart from these documents, there are other documents like Security Agreement, Escrow Agreement for Payments, Settlement Sheet, Transfer Documents, Insurance Papers, Tax Receipts and Inspection Reports. It is better to hire the services of a solicitor to prepare documents pertaining to legal matters.

What happens after selling the house?

  • After selling my house, what should I do is the next important question. It entirely depends on why you want to do the sale. You could either move to a new house or look out for rented houses. Once the sale has taken place, part of the sale proceeds goes in paying off the mortgage loans as well as paying the real estate agent his commission charges. In fact there are lots of other things that need to be considered while doing the sale.

Apart from divorce proceedings in court, selling my house is another major reason of modern day stress.

Posted on Saturday, October 03, 2009 by Paul

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