Selling a property in India is one of the most critical tasks for the seller. Real estate is riskless and plays a great role as an alternative asset. There is a lack of an active trading platform to carry out buy and sell deals. The real estate deals are traded with imbalanced market information for eg: suppose in the real estate market one of the buyers or sellers has more and best information than others.
Hence proved selling a property requires a good level of effort, even sometimes more effort as compared to the buyer who comes to buy the property to get good value of the property. This blog will help every seller to know vital steps before selling any property.
Motives to sell any property India Mumbai:
Real estate research states that there are 4 types of motives that highly create intent of selling off any property in India Mumbai:
- some owner sell it to earn a good return on investment
- shifting of location, migration to other state or city, or shifting to big flats
- liquidating due to personal reason is also a reason behind property selling
- local market area condition also applies as an important factor for selling any property or flat in Mumbai
Whatever the real estate market condition is, there are the most important factors that every seller needs to know before fixing any deal with the buyer.
- Putting right value and cost of a property: Finding a property on web portal filtering with different attributes is widely used by the buyers to acquire filtered results. So always remember to add or change attributes by analyzing competition trends in the area. A smart comparison with the competitor will help you to fix the correct price and features of the property. If required do spend on small expenses to increase the value of the property.
- Finding correct marketing platform:
There are various types of promotional platforms are available online. To start with the platform a small understanding of the pros and cons of the promotional platform must require.
Channels that help:
- Real estate online listing portal paid as well as free
- Social media groups
- Google and its partner listings paid as well as free
- Print media
- Approach a real estate agent
- property should be well kept during selling mode:
A property should be in a well-maintained condition during the selling period. Because the buyers are more desperate to find a good-looking budget efficient property. And the factor like cleanliness and modernization can lure a buyer to invest in a flat. Bathrooms and kitchen are the major observed area in the room. So smart upgrade with the fixtures and fitting will enhance the value of a property.
- organize all Legal documents :
A seller must carry all the legal documents and property papers while closing a lead. The buyer must ask for these papers before making any sale agreement. Check out the list of legal property documents:
- Non-encumbrance certificate
- Previous sales deed
- No objection certificate from society
- Any loan statement (outstanding if any)
- building and land tax receipts (easy for property alteration)
Note: After purchasing a flat in Mumbai in India registration of a flat must be required at the registrar’s office in Mumbai India.
- Importance of understanding taxes:
Taxes have a great impact on investment in India. Taxes can entice a buyer for the investment or distract them from the investment. So it is a must for the buyer and seller to know the latest update on capital gain tax.
- Important points to be noted before selling a home in India? - October 19, 2021