Selling a house or apartment is not a simple task. Knowledge of the real estate market is required to be able to establish an appropriate price, as well as specific strategies to make it stand out among a sea of offers, reach the right clients and thus be able to market it quickly.
On the other hand, there are different aspects that help speed up the process of buying and selling a property, such as having the necessary documentation, repairing any property defects, taking photographs or videos that show every detail of the spaces or making use of from different channels to place the ad.
Although there is the option of carrying out the transaction on your own, you can also use a real estate advisor, who will guide the owners and provide certainty throughout the process. The sale of a property involves various procedures that the owners are often unaware of and that can delay the entire operation.
One of the biggest obstacles that specialists encounter when selling a property quickly is assigning a high price. “Sometimes this happens because we want to get more out of the property and because of the growth in capital gains in the area where it is located. Although this does not stop the sale completely, it does slow down the process,” says Alejandro Blé, marketing manager. from the real estate agency Coldwell Banker Mexico.
One of the most common alternatives is to hire an appraiser; However, its cost can go up to three or four thousand pesos. Real estate advisors, on the other hand, usually carry out an estimate of its value, comparing similar properties in the same area and with similar characteristics, in order to establish an average price and a sales range.
Doing an appraisal not only helps to know the real price of the home, but also to establish an appropriate and competitive value for the area. Owners can also use real estate platforms to survey the market and get an idea of the cost of other properties nearby. The price of a house or apartment is determined by different factors, including proximity to the city center, urban infrastructure, services available nearby (schools, hospitals, supermarkets or shopping centers), length of life of the building, its dimensions or amenities (gym, terrace, pool, event room, among others). “Selling a property involves a lot of work. It is not as easy as putting up a tarp, waiting for someone to call and offer to pay in cash,” warns Alejandro Blé, marketing manager at Coldwell Banker Mexico. As it is an important operation, having the help of a real estate advisor can avoid several headaches for the owners, including falling into any type of scam. This professional is in charge of guiding the owners in different steps of the process, such as gathering all the documentation or putting together a marketing plan.
A well-kept property can sell more quickly and at the established price. SUN
They take advantage of technologies
Thanks to the advancement of technology, buyers can now see a house or apartment as if they were present. Photographs, renders, videos, virtual tours, among other tools, are of great help to get an idea of the interior or exterior of a home, whether to hook at first glance through digital platforms or for those interested to live far from the property.
“The images must correctly show each of the spaces, so the help of a professional is recommended,” advises Karim Goudiaby. While Alejandro Blé emphasizes that “photographs work, but you also need to make videos to be able to see the property in great detail.”
Therefore, they should be taken in the most natural way possible, preferably in daylight, and at different angles, to be able to clearly observe each space. Whether it is an apartment or house, all areas must be photographed, both for individual and shared use, that is, terraces, green areas, children’s areas, gym, pool, party rooms, work spaces or other amenities.
Lamudi specialists consider that the first impression of potential buyers depends a lot on the image they see online or brochure. This can be decisive for them to later visit the property. The idea is that they fall in love with it without having been there.
Experts agree that furnished spaces attract more attention than empty ones.
Advertise in more places
“The more people see the property, the easier it will be to sell it and generate a little more income,” considers the representative of Coldwell Banker Mexico. So don’t expect that by putting up a ‘For Sale’ sign, dozens of clients will arrive, much less potential buyers for that specific property.
When selling a house or apartment, owners must take into account that each one has their own client, so segmentation must be carried out. Placing ads on digital platforms or social networks not only helps spread it to more people, but also helps reach the right ones.
The promotion plan, however, should not be limited only to the internet. Specialists from the Tuhabi company consider that other places of interest, such as transport stations, educational centers or hospitals, can attract the attention of potential buyers. In this sense, real estate advisors know the best strategies to publicize a home according to its type and characteristics.
When creating the ad, it is important to include data such as location, dimensions, number of rooms and amenities.
Likewise, the description must be accompanied by high-resolution photographs or videos that show the main spaces of the property, as well as using keywords such as “central”, “spacious” or “safe”. Avoid doing it on the fly or with poor quality, since the number of calls you receive from potential buyers to purchase your property may depend on this.
They advise prioritizing the good condition of the property for sale. THE INFORMATOR/Archive
CERTAINTY BEFORE BUYERS
They recommend organizing documents on property and debts
Putting a property up for sale involves a series of time-consuming but important procedures, especially if the owner does not have the necessary documentation to carry out the operation.
“A buyer cannot accept a property that does not have the papers in order. This will not only delay the process, but may prevent the sale from taking place,” says real estate specialist, Alejandro Blé. According to the National Commission for the Protection and Defense of Users of Financial Services (Condusef), among the documents that you must have ready to sell a used home are the property title, which guarantees to the authorities that the house or apartment is in the name of a specific person and there will be no problem for them to sell it. The lien-free certificate helps to verify that the property is free of debts. According to this organization, its validity is 20 years and can be requested at the Public Property Registry. The property tax must also be free of debt. This obligation for owners must be paid annually and failure to comply can limit the sale of a home.
A document that is often not given importance is the official identification of the owner. In the event that the property has several owners, the credentials of each one will be required and, as the case may be, an official receipt specifying the relationship between them.
Furthermore, love is born from sight, and this applies when purchasing a home. Before announcing it, be sure to repair any damage.
Delays in monthly payment payments can cause credit risks
Buying a home is one of the most ambitious financial challenges. To make this dream come true, most of the time mortgage loans are used, whose term can range from five to 30 years on average. During this period, various events may occur that prevent timely coverage with the monthly payment, which puts the ownership of the home at risk.
“The delay is taken into consideration from day one of non-payment, that is, the day after the payment deadline. At that moment, a default interest rate or administrative expenses begins to be generated. However, a risk implication of losing the property occurs after the third month that the loan has not been paid,” indicates Luis Ángel Sánchez Mendoza, director of operations at Creditaria México.
Generally, banks go to the legal department after the third month, which is in charge of managing collections with the client. Likewise, from that moment on you usually already have a mark in the Credit Bureau. As time goes by, it becomes more difficult for a person to meet these obligations.
Although having stable personal finances produces peace of mind, it does not exempt users from going through some unforeseen event, so it is necessary to know what alternatives exist to deal with the situation.
On the other hand, to avoid falling into debt, one of the general recommendations is to have a “cushion” of at least three monthly mortgage payments. Some specialists suggest that it be made up of six payments, because recovering from an unexpected event takes time. When you have a long-term obligation, such as a mortgage loan, the most sensible thing is to have card debt or car purchases under close control.
Those looking to buy their first home should try renting a property for six months to a year, in order to see how their monthly expenses adjust, as well as generate considerable savings and begin to build a good credit history.
Seek help from advisors if you have large debts. THE INFORMATOR/Archive
Solutions to resolve debts
In case of debt, the first step is to try to negotiate with the institution that granted the loan. Some banks usually agree to divide the debt to pay little by little or, alternatively, to reduce the interest. “The worst action you can take is to stop paying and think that the financial institution is going to forgive the debt. This product does not work like a credit card. When you have defaulted, you must detect the current credit policies to verify if any help to meet the obligation,” recommends specialist Luis Ángel Sánchez Mendoza. If the payment interruption is due to, for example, loss of employment, mortgages usually have insurance to cover this event.
Self-employed workers, on the other hand, can use other types of coverage, such as a disability policy, whether total or permanent.
Before reaching three months of non-payment, there is the option of taking the debt to a second bank, who will be in charge of settling the remainder to the first and, usually, establishes a lower monthly payment.
You can also request a mortgage payment loan plus liquidity, in the event that in addition to said debts, you have outstanding card obligations. This way the debts are consolidated into a single account.