How to Sell a House: the Definitive Guide

How to sell a house in 6 steps

1st step: Prepare the documents

Finding the complete documentation of the property is so important that it is of primary importance. This is a fundamental element, even if too frequently underestimated. If documents are not checked well, it can easily create cascading problems later in the proposal phase.

To avoid this, it is not only necessary to prepare the documents in time but also to have them read by those in the know and possibly show them to the potential buyer. In fact, by transparently communicating the information in favor of the interested party, you demonstrate good faith.

For example, if there was a particular municipal constraint on the property then it must be reported in the deed of provenance and you by communicating it to the buyer prove to have been transparent. The thing is, if you prepare the documents in advance, you avoid unpleasant surprises later, plus sooner or later you have to do it.

Also, remember to prepare an updated mortgage certificate certifying the absence of presence (with relative type) of the type of mortgage. If it is present then before selling it will be necessary to cancel the mortgage .

2nd step: ask for a fair price

Another key thing is getting the right value right like that of the property in Blue World City Islamabad. That is, a price a little higher than the value but not too much, something in the order of between 7 and 12% more. This leaves you a fair margin of negotiation without scaring off potential buyers. If the demand is too high, you risk pushing buyers to view other homes, thus helping your neighbor sell before you.

Obviously, the closer the price is to the real value, the less you have to discount it during the negotiation phase. This is a great way to increase buyers’ interest and thus reduce lead times.

Let’s take a practical example: if in your neighborhood properties similar to yours have been sold for around € 200,000, then an initial request between € 215,000 and € 220,000 is correct. But an even higher demand would be counterproductive because it would induce buyers not to take it into consideration.

Waiting for years to sell your house doesn’t mean you will eventually get the price you want. In fact, it is more likely that you will have to lower the request anyway, simply wasting precious time.

3rd step: use the right advertising channels

To find the buyer, you can use different online and offline channels. Among the most effective are real estate portals, word of mouth, and social networks. According to an official survey published by Tecnoborsa below, you will find the effectiveness of the different channels:

• 34% through word of mouth (friends, caretakers, etc.);
• 21% by means of online ads ;
• 20% through social networks;
• 13% thanks to reading the signs;
• 8% through magazines;
• 4% directly upon entering the agency;

As for sites, I suggest you use specific real estate sites like park view city Islamabad. In fact, while the generic ones generate traffic of lower quality, on specific real estate sites they surf people more interested in the ads. This will allow you to increase the chances of intercepting the right target. 

To further enhance visibility you can use social networks. Pay attention to the quality of the ad including the images used. Or create a video with background music to make it engaging.

Another powerful channel for finding a buyer is word of mouth, especially in smaller towns. Unlike in big cities where social interactions are more dynamic, digital channels work better.

Otherwise, contact us so that we can take care of advertising and take advantage of our database of buyers that we already have “in the belly”.

4th step: enhance the home before the visit

Enhancing environments is a very useful suggestion and later in this guide, we will see some tricks on what to do. This is a very important and pleasant aspect in the eyes of potential buyers, also because few do it.

I entered homes with the TV on, unpleasant smells, dark or very messy, finding it difficult to relate to living in the home (and I’m used to it). However, if it happens to the visitor, this is not good, because the memory that should remain of the property is the feeling of living there.

Clutter and distractions distract the visitor. A tidy, clean and welcoming house allows you to channel the visitor’s attention and improve their memory.

5th step: filter the right buyer

The decision-making process, especially in the real estate sector, is a fairly slow process that matures over time. This means that many people who call you will still not be able to make an offer or be motivated enough. Frequently they are people who are considering the idea of ​​living in a new home. But they could waste you a lot of time without getting any concrete results. That’s why I suggest you filter visitors.

It is simply a matter of asking some targeted questions (even on the phone) before making an appointment. The questions focus on 3 primary categories:

1. those who visit the property must be in the financial position to make an offer;
2. sufficiently motivated ;
3. It is better that during the negotiation there are all the decision makers (e.g. wife and husband).

I wonder why you should open the door to completely unknown people and make them walk around your house? After all, it is your home so it is good to understand as much as possible if there is a real interest on the other side.

Exceed expectation

As easier said than done, exceeding expectations is a great tactic for making a good first impression. It is not just about making good publicity, but also about making people find something more (or better) than what was announced.

When you create an attractive advertisement, it is true that you get more attention, but it is also true that you create an expectation towards the visitor. So, if you make a great ad that shows a great house, remember that during the sales appointment, the buyer expects to find at least what they saw in the ad. Avoid creating a distorted or much better perception of reality otherwise the risk of disappointing the buyer is high.

The decision-making process of those who buy a house comes first from emotions. Try to exceed the expectation

6th step: look for the perfect chord

All the previous steps are the preparation for this last phase, the most important one. We can say that the previous actions are aimed at finding the best buyer and exceeding his expectations so that he can’t wait to be the new owner. In this way, there are solid foundations to create an excellent agreement also in economic terms.

Dealing with a person already convinced to buy, with the right economic potential, the rest are technical issues. It is mostly about dealing with rational objections and finding some middle ground that works for both of you. This is the negotiation stage, i.e. when the buyer is convinced and brings a fair offer. At this point it is a question of establishing a series of things and writing them down in black and white. Particularly:

• total sales price;
• deposit, down payment or both;
• any persons to be appointed;
• presence of appliances;
• any unresolved condominium expenses or disputes
• presence or absence of donation ;
• any prejudicial burdens, privileges or rights of others;
• urban planning and cadastral regularity;
• updated energy certification
• date of signing of the deed;
• furniture;
• other potential clauses

All these points, you must clearly write them on a preliminary contract, that is an agreement that anticipates the notarial deed. For any clarification or additional information to sell your property please contact us.

The 6 mistakes to avoid to be able to sell a house

1st mistake: getting the price wrong

We talked previously about the importance of the right price. Getting it wrong is the main mistake that will make your sale really difficult if not impossible. What makes the price wrong in the first place is based on asking prices, i.e. the prices requested by other real estate ads. Basing on these prices is wrong as they are still undiscounted values, so it is misleading.

The buyer will compare your home with respect to the others for sale and, on equal terms, will choose the most convenient one for his or her pocket. By equal conditions I mean (state of conservation, square footage, location and so on).

In this regard, the grossest mistake is to entrust the task to the agency that promises you the highest price. Remember that the price does not make it who deceives you to get the job.

A higher value must be supported by a valid reason

This does not mean that it is a mistake to ask for a higher amount for your home than is normally expressed in your area but there must be a valid reason. For example, a panoramic view or the presence of a structure that other properties do not have (garden, swimming pool, garage, or other). Or have a particular story or any other intrinsic value that cannot be found nearby.

2nd mistake: becoming attached to the property

Of course, it is difficult for anyone to say that they are struggling to sell a house because of their emotional connection with the property. First of all, because it is difficult to realize it, but if you think about it it can happen (and not infrequently).

When pleasant and intense memories are lived for a long time inside a home, these easily influence its perceived value. A kind of emotional bond is created that affects the asking price or the difficulty in leaving the house.

Also, leaving family photographs and various personalizations all over the house during visiting appointments won’t help. Much better to depersonalize as much as possible. It is better for the potential buyer not to feel at home during the visit.

3rd mistake: underestimating the importance of transparency

Lack of transparent communication is perhaps the worst mistake. The percentage of homes that have a problem is considerable but this does not mean that the property cannot be sold. 

The worst thing, however, is not telling the buyer what the problem is in time. In fact, such negligence in the eyes of a judge could be read as malice with the consequences of the case. For example, losing the sale, double the deposit, or having to pay any damages.

The moment in which it is necessary to communicate how things are is before receiving an offer, preferably during the first visit.

4th mistake: signing something when unsure

If someone rushes you to sign a contract as soon as possible, there may be something behind it that makes you wrong. I am referring in particular to agency contracts. Let’s face it, exclusivity is not used to sell the apartment but to protect the real estate agency. 

Instead, sometimes it is more convenient to put the agencies themselves in competition, making them sweat more to be able to sell your house. Maybe you find this statement a bit against the tide but just think about it to understand how things stand.

5th mistake: assuming that the house is okay

According to the law, the current homeowner is directly responsible for what he sells. So rather than assuming that the house is in place (especially with regard to the urban aspect) it is better to be sure. In fact, for example, if the mortgage were to serve the buyer, the bank could not lend any sum of money if there is a discrepancy. But even if the mortgage is not needed, the buyer could refer to the previous owner if he discovers a problem.

Not all the differences make the house unsaleable, but surely having the signature of a technician who certifies that everything is in order avoids your important responsibilities.

6th mistake: doing everything alone

Well, the title says it all, precisely because there is a world behind the real estate sale. A reliable consultant who knows what and how to do it is a help that will save you time. And maybe even get something more.

Tips for selling your home

If you want to be able to place your property on the market, you will find that the decisive visit will always be the second or third and almost never the first. A bit like using a filter with increasingly tight meshes with each step. At first, you post an ad that tens or hundreds of people will see. The images, title, and description will attract those on target while excluding others. But that’s still not enough.

The aim is to deal with very select people and the result can be appreciated during the sales appointment.

“Select who has the right motivation to buy your home. The actual negotiation begins on the second visit”

First visit

If you have filtered the potential buyer as we have seen previously, now you should be dealing with a sufficiently motivated and intrigued person. We have seen that it is important to enhance the home and present it to the best of its ability. Here are two really helpful tips that few catches:

1. involve the potential buyer;
2. shows the merits of the neighborhood

There is no need to talk a lot or paint in words how beautiful your home is and how ugly the others are. It just doesn’t work that much.

What I suggest is to divide the time during the visit by spending more within the environments that the potential buyer appreciates the most. It would be great if it could interact. The concept is that the more he identifies himself, the easier it is for the house to feel his own. Since emotions are the central aspect of the buyer… exploit them.

Avoid making visits that are too quick, lasting 10 minutes. This kind of visit is good for those who are not really intent on buying it or for a professional who needs to take some pictures.

Involve the potential buyer

For example, if you are dealing with a young couple who would buy to live there, probably the environment they appreciate the most are the living room where they invite friends. Maybe he might be interested in the space offered by the garage for storing equipment and the kitchen if he likes to cook. 

Once they understand which environments are most important, the more time they spend there, the better they will remember them. Not only that, in fact, they will better settle in and think about the furniture or further changes to be made.

It could be a particular view, an extra room for guests (like parents), particular soundproofing of a room for (ideal for those who play the piano), or something else.

Show the neighborhood’s merits

You probably don’t know that those who want to live in a certain place about 7 times out of 10 choose it because they know it well or have acquaintances who live there. If you wonder who among your neighbors has acquaintances who want to buy a house, this information can help you find potential buyers.

On some occasions, however, you may find yourself in front of people who do not exactly know the neighborhood and its merits. So do not think that once they have made the first visit they do not also take a tour of the neighborhood. 

At this point, it would be much better if you were to guide them by showing them their surroundings. For example, where is the best supermarket, schools for children, the park, the doctor, the bus and so on?

Second visit

During the second visit, ask for an action, because the second visit is decisive. Normally the first visit is used to evaluate while the second to deepen the interest. On this occasion, room measurements are often taken to check the fit of the furnishings. Given the strong interest, at the end of the second visit ask if they intend to make an offer. If there is no concrete answer for them, give yourself a deadline by when to hear from you.

Some people even need a third or fourth visit before making up their minds.

Presents home flawlessly

Landing and entrance

Free entry of coats, shoes, keys and bills. A clean and tidy environment from the entrance will immediately be more welcoming. Replace the doormat if it’s dirty and battered, and add a few plants to the entrance.

Kitchen

Arrange the kitchen, the dishes and clear the worktop. Free the table from appliances, cookware and food. Make sure there are no cooking smells. If you also have the habit of sticking loose sheets on the fridge, drawings, etc., put them away in a drawer. Put a table center, both in the kitchen and in the living room.

Living room

Remove personal photos, holy cards, excess ornaments. Help the buyer to make him feel at home, or at least in an environment that is as neutral as possible. Eliminate everything that closes or takes away space and turn off the television. It would be appropriate to put a musical background, at low volume perhaps with light music.

Bedrooms

Make sure they are tidy and well ventilated, make the beds and arrange the bedside tables.

Bath

Thoroughly clean the bathroom and order all the products, such as creams, toothbrushes, toilet paper and so on. Lower the toilet seat, ventilate the room and remove creams and miscellaneous products from the edge of the shower. Remove bathrobes from sight. In case, if you can hide the bathroom washing machine behind a special door it would be better.

External environments

The garden, balcony, and terrace are the outdoor environments par excellence. Many buyers notice these environments and if your apartment has them it can facilitate the sale. Take care of it by removing any dry leaves, cutting the grass, and arranging the pots.

Any pets

Not all shoppers like pets and some may be scared or allergic to fur. During the first and second sales visits, keep them out of the house if possible. It would also be suitable to move the kennel.

Further precautions

When visiting with potential buyers, avoid smoking, especially at home. Add a few plants in strategic places, only if they look good as an ornament. Put very delicate perfumes in the rooms, or use scented candles. Make sure that the rooms are always well ventilated before visits and well-lit during visits. 

If there are any lights that don’t work, replace them. Leave the lights on during the visit, do not turn them off by going from room to room.

If you have full bins for separate collection, get rid of them before visits. If there are infiltrations of systemic water and if the closed environments have created parts of mold, remove it properly and paint.

 The best time

The real estate market has its ups and downs and as the graphs in the image below show there are better times than others for real estate sales as well. Obviously, during the holidays at the end of the year and during the summer, buyers are generally concentrated on other activities, putting off the thought of buying a house for another time. 

Over the years, the frequent trend is to have higher sales volumes in the second quarter (April, May, and June) and in the fourth quarter. (October, November, and December). 

But since these are agreements that normally took place a few months before (for example, considering the timing for the mortgage and some long negotiations) it is desirable to state that the best times to sell a house are a few months before the second quarter and a few months before the IV quarter.

The image shows the trend of the average volumes of sales during the period of the year

Deal with the proposer

If the buyer really cares about your home, then he will talk about the price already during the visit. He may want to ask you how much you are willing to go down or enter into a real negotiation. Usually, the agreement is somewhere between the request and the offer. 

On the other hand, if you can figure out what the buyer finds special that he hasn’t found elsewhere then you can achieve more. What other houses have you seen? Have you made any other offers? What other houses have better and worse than yours? Why is he choosing yours? You can use this information to get a better selling price.

What potential difficulties you might run into

Those who want to sell a house do so to pursue a better purpose. For example to move, for economic, health, family or advancing age needs, to make other investments or for family matters, inheritance and divorce. On the other hand, the ideal solution is not always to sell, especially if there are doubts about it.

However, if you decide that it is better to sell it then it is better to consider a priori the potential problems that could arise and in case you should immediately intervene:

• building abuses;
• annoying neighbors;
• undivided property;
• different opinions in the family;
• people unable to understand and want to be followed by a tutor;
• unpaid with banks;
• other debts;
• lack of knowledge of regulations;

If you find yourself in one of these conditions, before putting the house up for sale, contact us and let’s see together how to proceed.

Average time to sell a house

As already mentioned, the purchasing process matures over time, without haste. This therefore means that in times of crisis where the supply of properties for sale exceeds the demand, those who buy take time to choose the product that suits their needs. 

You look around for a good offer. As shown in the image below (source Tecnocasa studies office), sales times in recent years have been reduced, thanks especially in large cities. It currently takes about 121 days to sell a house, which is about 4 months.

But a lot depends on the location where the property is located and on the state of conservation. In the most sought-after neighborhoods, the times are usually between 2 and 3 months. Conversely, however, it can take over 6 months in the less sought-after areas with constant price drops. Some properties have been on sale for years and are unlikely to find a buyer until the owners match their expectations.

What are the costs

It may seem annoying to spend money when you want to make it. On the other hand, to sell a property there are sometimes mandatory expenses. Let’s see them one by one:

• * Condominium expenses (administrator, cleaning, elevator, etc.);
• any condominium costs already approved;
• energy certification (if you already have it, it lasts 10 years);
• building practices (in case of irregularities);
• possible adjustment of cadastral regularity;
• eventual redemption of the surface right;
• mortgage closing costs (if necessary);
• integrated technical report (suggested);
• furniture removal expenses (unless otherwise agreed);
• cost of the real estate agency (savings with HomeSell.it);
• ** tacit acceptance of the inheritance (if this is your case);
• *** possible personal income tax on the capital gain

* If the apartment is located in a condominium, you must have the administrator release the declaration of settlement of expenses. The law requires that if the homeowner has not paid them before the deed, the administrator can demand them from the new owner up to 2 years of outstanding payment.

** Regarding the tacit acceptance of the inheritance, if there are debts you must pay them off.

** If selling the property generates a capital gain then the IRPEF rate is applied, in relation to income. You are exempt from this tax in case of resale of the property coming from succession after 5 years if you have purchased it as a first home.

Who are the ideal buyers

Each type of property has its own target, whether it is a villa with swimming pool or a condominium apartment. Identifying the correct target is essential. As for the purchase of residential properties. Couples and small families are the primary markets.

In fact, according to the Revenue Agency, the demand from main homes exceeds 70%. So undoubtedly the ideal buyer is those who buy to live there.

While investors are in second place to be the most active buyers with 24% of transitions. They try to get a higher discount to put the property into income, however, it is interesting for those who want to get rid of their property quickly.

Finally, there is also a small tourist component that slightly exceeds 5%. These are foreigners interested in owning a second holiday home in our country, as Italy is a country with a strong tourist connotation. We live in a country full of regions known to be fascinating. English, Americans, Germans, French, Swiss, Belgians, Dutch….our country is an interesting destination for many. 

Regions such as Tuscany, Puglia, Marche, Lombardy, Liguria, Sicily, Sardinia and Abruzzo are coveted places for a holiday home. So if the house is located in a tourist destination you can contact them too. Sometimes direct contact or word of mouth through the tourism supply chain is sufficient.

If you know who to contact then you will find the right channel

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