There are several aspects that you should take into account before selling an apartment, here are the 5 most important points:
1. Know the situation of the real estate market
The first step to sell an apartment is to know the current situation of the real estate market, so you can define whether or not this is the best time to sell it. You have to evaluate:
- How demand is positioned in relation to supply
- What is the price per square meter in your area?
- How many sales and purchases have taken place in the last few months
- What is the mortgage situation
If you gather this information, you will be able to understand how long it will take you to sell and how much you will have to lower the price to close the deal.
2. Define how much your house is worth
The second step to sell an apartment is to define its value, although it may seem easy, it is one of the most complex procedures. Our advice is to contact real estate professionals.
Once you have the general knowledge of the market price of your property, you can discuss with your real estate agent to define a selling strategy, i.e. to choose a price at which to advertise the property depending on how quickly you want to sell it. In Ghat Apartments we advise you to sell your apartment, house or apartment and define strategies.
3. Knowing the costs involved in the sale and purchase.
Before selling an apartment, you should know what expenses and taxes are involved in the sale and purchase of a property:
- IRPF
- Notary
- Land Registry
- Cancellation of mortgage (if applicable)
- Municipal capital gains
- Certificate of occupancy
- Energy certificate
- Real estate commission
These expenses represent between 5% and 15% of the sale price, although they depend on the type of real estate agency you decide to hire, the profit you obtain from the sale and the location where the property is located.
4. Gather the documents to sell your apartment
The fourth step, and one of the most important, is to gather the necessary documents for the sale:
- Simple note
- Original writings
- House plans
- Community bylaws
- Certificate of community expenses
- IBI payment receipts
- ITE Certificate
- Latest utility bills
5. Create an attractive ad to advertise your home
To sell your apartment quickly is to create an attractive and optimized ad, so it will appear in the first positions of the results page of the real estate portals. How can you achieve this? We tell you about it below.
Create an attractive ad
To create a compelling ad, you can start by coming up with headlines that grab the attention of buyers. You can also apply simple tricks to take quality pictures and highlight your home in the description with all the details.
Use the best real estate portals
There are different real estate portals, most of them free, that will allow you to reach more buyers. In Ghat Apartments we not only publish your property for sale in the different portals, we also give visibility in our social networks and website.
6. Prepare for the signing of the arras
Once you have found a buyer, the next step is to sign the earnest money contract. The earnest money contract is a commitment of purchase and sale and will be used by the notary as a basis for drafting the deed.
In addition, when signing the earnest money, the buyer pays a deposit, which is usually 10%, and both parties commit to close the sale within a certain period of time, usually three months. If the buyer fails to comply with this commitment, the deposit will be forfeited. If it is the seller who does not comply, he will have to return the deposit to the buyer in duplicate.
