Bonus: how to get your property ready to sell?
We will provide you here some advice to help you to sell your property beachfront or cliff-front. And we give you also some bonus to get your property ready to sell in the real estate actual market.
Setup the selling price and get your property ready to sell
To calculate your selling price, here are the different points that we advise you to take into your calculation:
– First of all, the buying cost of your property
– Next, your amortization during the period you have used this property
– Also the tariffs of similar properties in the same area
– Moreover the cost of your renovations
– Finally, the current state of the property
This state of the premises is the starting point for setting up a realistic selling price.
A selling price too high would be harmful for the sale of your property; potential buyers will ask directly the question: Why is this property been for sale for a while without finding buyer?
The value of a good is determined by supply and demand. When there are many sellers and few buyers, prices are pulling down and the goods take longer to sell. This schema is called a “buyers’ market”. In the contrary, and there are many buyers but few goods to sell, prices rise and the houses sell very quickly, it is a “market of sellers”. In order to know in which market you are currently, it is better to seek the advice of a real estate agency. When you refer your property with us, evaluation is our first service. We will then determine what type of market you are in, and then we will study your area to compare your home to the local market.
Please note that in Bali the market is very dynamic and the return on investment is mainly determined by the purchase price of the property, its location, its quality and its current state.
Allowing the real estate agency to set up a sales panel is very important since our name and reputation can attract prospects who know our agency and our serious. This also avoids walk-in visits and time wastage as we remain the first point of contact and agree with you an hour of appointments beforehand.
Qualification of the buyer
An essential part of our business is to make sure that the buyer is able to assume the cost of your property and that the funds are available in order to avoid any waste of time. An unprofessional sale normally ends in a failure and a waste of time for everyone. The principal cause and the lack of knowledge of the process of buying / selling and the lack of analysis of the buyer and it is here our added value.
Similarity of prices
If you have not chosen exclusivity with our real estate agency, make sure that the other brokers all offer the same sales price. Otherwise, it would give an impression of dishonesty with regard to the potential buyer.
Keep in mind your goal because only 3 choices will be offered to you when a customer will make an offer:
– First you can accept it,
– Second you can reject it,
– And finally you can make a counter-proposal.
The final price is actually more important than the initial price.
In Bali it is customary to share government fees between buyer and seller, but there is no obligation. All can depends
Payment by the buyer
How would you like to be paid?
Offshores payments are a plus for some transactions!
Make sure that there are no complications and that the property is legally salable, that the seller’s name is the same as the name on the back of the title. If this is not the case, we must know this since the first contact because we will not be able to sell the property without the legal owner.
Sometimes some low cost can add your real estate to find a buyer quicker.
When an offer to purchase is accepted by the seller, a 5% non-refundable deposit must be put in place. This deposit is kept with the notary until the contract is validated. This security deposit gives the buyer 30 days to verify and validate the contract.
From supply to conclusion
Once the deposit is made, the transaction can take a month or more for the final payment. The purchaser must first of all avail himself of the services of a notary so that he verifies the titles of property and the eligibility of the property for sale. Then the seller will have to provide a contract of sale to the buyer who will have to check and accept it. Any modification of the contract must be accepted by both parties. Any transaction in Indonesia must be secured by a reliable notary.