BASIC GUIDE TO SELL YOUR PROPERTY IN COLOMBIA

BASIC GUIDE TO SELL YOUR PROPERTY IN COLOMBIA

So the time has come to sell your property and make way for new perspectives for your life! Since you are about to make a very important decision I want to give you in this Guide some tips on how to sell your House, Apartment, Property or Property in Bogota and throughout Colombia in a fast, safe and effective way allowing you a successful negotiation of your property.

Keep in mind that the sale of real estate is one of the most important financial and legal events at any stage of life. Therefore, given the large number of concerns that arise from the sale of a property, it is of the utmost importance to know each of the stages involved in this process, which can be somewhat complicated if the information is not known. to make the right decisions.

In this GUIDE TO SELL YOUR PROPERTY you will find a general framework that will help you to have better criteria in making such an important decision. If you have concerns, do not hesitate to contact me, I will be here to support you or give you my professional advice at the moment you need it. So, it’s a pleasure to present you with this initial orientation which I hope will be the most useful for you and your family!

1. KNOW THE VALUE OF YOUR PROPERTY: THE FIRST STEP TO ACHIEVE A SUCCESSFUL SALE

You would believe me if I told you that 90% of the properties that can not be sold in a reasonable time have in common that at the time of advertising in the market, a clear marketing plan was not taken into account that would allow to fix a correct price of the property?

Selling a property is a process that goes far beyond placing an ad in the window or uploading photos of it to an Internet portal. Finally we are talking about an important sum or capital for which a transaction will be made and all the measures must be taken to do it correctly.

Appraising the correct valuation of a property, independently of the emotional attachments or personal opinions that we can all have as owners, can affect inflating or depreciating even the value of the square meter and the characteristics of the property compared to the sector or the conjuncture. economic

That is why, to make a study of the property is imperative. Taking the first step firmly and doing it well can represent the success or failure of any sales process. Having then the advice of a Real Estate Professional is very important because it has the technical and commercial tools to give a correct and above all, impartial assessment of the property.

If you decide to make your own assessment, let me suggest that you report very well on the price of the square meter of the properties of the sector, being clear that you do it with reliable information of the properties that meet the same characteristics of yours and have had a historical sale; your time to market, possible changes in prices, the actual amount of square meters built vs. the total area and in general the best possible survey that you can prepare.

2. CREATE AN EFFECTIVE SALES PLAN.

With the above clear, now begins the work of marketing and marketing your property. Usually, those who want to sell directly will use the basic tools such as placing an ad in the window, publishing the property in a real estate portal and telling family or friends that they are selling their property. Although this is a basic first step, it DOES NOT GUARANTEE that your property is properly presented in the real estate market and that the legal process that comprises the various stages of the negotiation is effected effectively. You will see, details such as bad photos taken, inappropriate ads, contacts or relatives who “know” a customer without knowing if it is properly filtered before money laundering lists (mandatory by law) or that they are not clear about a payment plan for the asset they are in most cases, factors that make the successful sale of the property impossible. Weeks and then months pass in which either you do not receive many calls from potential buyers or, you receive a high volume of real estate calls that invite you to hire their services to make a faster negotiation. However, time goes by and the results do not arrive. Has it happened to you or do you know someone who is living this experience? If the answer is affirmative, it is imperative that your property has a professional Digital Marketing strategy incorporating Facebook Ads in it to exponentially improve your results.

3. HOW TO NEGOTIATE YOUR PROPERTY

Once you have found the potential buyer, the negotiation process begins. It is common that in a direct sale, the negotiation margin (offer) made by buyers can go up to 10% below the price established by the owner for the properties used.
This is a high point of negotiation because it is about reaching agreement on the amount of money for which the transaction of the property will be made.
Make sure you negotiate directly to avoid appreciably affecting the sale price of your property and yield to offers that do not correspond to the fair price of the same. On the other hand, if you have the professional accompaniment of a Real Estate Advisor, it is important that you ask exactly what are the negotiation ranges in the sale of the property and its fair price.
The best way to negotiate is by establishing a fair price from the beginning.
Agreed upon, prepare to reach a compromise. Because there are two parties in question, both will have the possibility of giving up some pretensions in their negotiation to reach a good agreement regarding the price, move date, improvements needed by the property, etc.
Always leaves in writing the agreement reached by a document that formalizes the purchase proposal to avoid misunderstandings when processing the closing documents. If you have the Professional Services of a Real Estate Agent, in your management you will find the Purchase Proposal document, which will set out in writing the payment plan of the property by the buyer, thus guaranteeing the representation of a duly prepared negotiator. seeks to deliver the best result for both parties.

4. THE CLOSING PROCESS.

As you have seen, selling your house, apartment, property or property goes far beyond placing a “FOR SALE” notice in a window or in a real estate portal. Reaching the stage of closing the negotiation or confirmation of the sale is a process that must be carried out with the due care and interest of all parties involved.

During the closing process, legal tender procedures such as receiving the “purchase option” or offer in writing, drafting the purchase promise, agreeing to the due study of titles that may take place, review the credit support of the entity that will support the purchase (if there is one), agree the tax payments of each of the parties, make the respective proceedings before a notary and legalize the new record of the property sold among several others.

Make sure you understand very well the step by step of the entire negotiation as well as all the legal, tax, notarial and other aspects that it represents. When hiring the Services of a Real Estate Professional you will be supported in the experience that this professional and your real estate firm offers you with the peace of mind and security that your interests are correctly represented throughout the negotiation.

I hope this guide has provided value and information for you now that you are about to make this important decision in your heritage. If you wish, it will be very pleasing for me to advise you and represent you as a Real Estate Professional, not only during the sale process of your property but in all the real estate or investment requirements in real estate that may arise in each stage of your lifetime.

If you wish, can we share a coffee and tell you more about how I can advise you on the next sale of your property? Contact me via WhatsApp: 320-9466271

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