Occupied vs. vacant property when selling a home

You will need to use various techniques for selling your home, depending on its present situation, such as whether it is a new resale property, one that you have lived in for a few years and now wish to sell, or one that is currently rented to someone at the time you want to sell it.

How to Sell a Newly Remodelled House

In this case, you have either acquired an under-construction property and now want to sell it as it nears completion, or you have purchased a new ready-to-move house but have not yet moved in and want to sell.

In the initial circumstance, you can show the potential buyer the property brochure (if it is a real estate developer’s project) and any unit of structure similar within the project that has already been built entirely to give the buyer an idea of what your under-construction property will appear like once it is fully built.

Furthermore, if your home was built by a reputable builder, it is desirable to indicate this to the buyers as this can guarantee them about the building quality, chance of timely completion (in the first scenario), and strong resale value if the buyer wishes to sell for a profit in the future.

Remember to include in the ‘transfer fee,’ which the builder will charge if you sell your under-construction property to someone else. This fee must be factored into your overall cost when computing your profit from the transaction. The transfer price is generally between Rs 100 and Rs 500 per square foot.

Selling a home you’ve lived in for a few years but want to sell now

Maybe you’ve been in your home for two to three years and want to upgrade to a larger home or relocate. In these kind of instances, it is critical to reassure the buyer of your purpose for selling (improvement, relocation, etc.), since they may be sceptical of any flaws with the property that are causing you to sell it so quickly.

You should ensure that the home is in useable shape before inviting buyers to inspect it. It would also be advisable to paint your house in order to give it a new look. You could also try removing all personal objects from the house before making visits so that the buyer can evaluate it realistically.

Everything you need to know about selling a pre-rented home.

If the prospective buyer is an investor, emphasise that he or she will receive a pre-leased asset with guaranteed monthly rental income, without having to expend time, energy, or money to locate a tenant. This should be your main selling point, along with all of your property’s other valuable characteristics.

You and the buyer must engage into a ‘Change of User’ modification agreement, under which the renter remains the same but the landlord is altered. This paper would be annexed to the existing rent agreement with the renter.

If the potential buyer is an end-user, you may tell him or her that there is a recorded rent agreement in place with the renter and that the tenant will depart the property when the lease period ends, allowing the buyer to move in.

Since a result, strive to tailor your marketing strategy to the condition of your home, as this will boost its chances of being sold.

Disclaimer: The views expressed above are for informational purposes only based on industry reports and related news stories. PropertyPistol does not guarantee the accuracy, completeness, or reliability of the information and shall not be held responsible for any action taken based on the published information.

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