Information for Sellers

Selling your home is definitely a major financial and emotional endeavour in your life. When entrusting your property to Coldwell Banker, you will ensure a more professional and efficient way to sell your property and guarantee a better deal. 

Before putting your property on the market

Time is money. Once you have decided to sell your home, your aim will be to attract the right buyer in order to close the sale as fast as possible and at the best price. The longer your home will sit on the market, the more money you will lose, especially if you are paying a loan on the house. Therefore, you should ensure that your property is in tip-top condition before you put it on the market. 

If this is the first time that you are selling a property, you might not be aware what makes homes sell fast. An experienced property consultant will definitely come in handy at this point since he/she will be able to recommend staging techniques to make your house look more appealing. Moreover, the property consultant’s unbiased opinion about your property will highlight any present flaws which you might have got accustomed to. 

Meanwhile, you might also wish to consider carrying out some works in order to improve the value and the selling potential of your home

Providing the right visuals

First impressions are crucial when selling your property. Remember that the market is saturatedwith properties for sale and therefore, you need to make your own property stand out from the clutter. Most buyers will be identifying properties by surfingthe websites of various real estate agents or by looking at adverts placed on newspapers and magazines. So, if you want to shine, you must provide professional photos of your property in order to boost it further. 

Coldwell Banker ensures that high quality photos are used to display the best characteristics of your property.

Getting your property valued 

Many home owners tend to overestimate the price of their home since they may not be up to date with the market and also because most likely, they will lack objectivity. While it is everyone’s goal to attain the highest price possible from the sale of their property, it is essential to determine a fair price right away.

Those who have experience in this field know the consequences of overpricing or underpricing a property. If a house is overpriced, a potential buyer may not even consider it and the property might risk becoming stigmatized if it takes too long to sell or if its price continues to be lowered regularly. On the other hand, a buyer might get the impression that there is something wrong with a house that is underpriced. Even so, underpricing your home might attract a lot of activity and produce several offers but eventually, they will all lead to the situation where you could have got more money from your sale.In this regard, the services of an experienced property consultant are invaluable. A property consultant will be able to assist you in valuing the property by doing a comparative market analysis. 

Placing your house on the market

When your property is ready to play the game, you will need to spread the word that your property is for sale. Although you might use the various social media platforms available to sell your property, it is difficult to reach the pool of possible buyers which an estate agency can get hold of in a shorter time. 

Besides providing exposure to your property on the agency’s website, a property consultant will make use of a myriad of other channels to market your house. Property consultants may have clients who are asking to view such a property and so they could close a deal more quickly. Moreover, the agency will be featuring your property on larger and more frequent adverts which you might not be ready to pay for, in order to attract the attention of possible buyers.

Making your house available for viewing

Once that a buyer is interested to view your property, how much possible is it for you to rush home at the clients’ convenience in order to show it to them? Can you excuse yourself at work each time that your phone rings with a potential buyer? How experienced are you to say the right words and to take the necessary steps in order to sell your home? Are you ready to take in any derogatory comments which a viewer might say about your home? Do you have time to deal with rejections each time a viewer informs you that he/she is not interested in your property? Are you able to distinguish between qualified buyers and curious individuals who would only waste your time? 

An experienced property consultant will handle all this process and will involve you only when a potential buyer makes a genuine offer. An agent’s experience in the field will avoid showing too much eagerness or desperation to close a sale. He/she will filter any upsetting comments which a buyer might express and will act as a liaison between you and the client. Furthermore, it is commonly known that buyers tend to feel less awkward to look around a house with a property consultant, rather than in the presence of its owner.

In return for this work, a real estate agency gets a commission fee if, and only if the property is sold to a prospect which is presented to the seller by the agency. The commission rate will be even lower in the case of properties which are entrusted exclusively to Coldwell Banker.

Negotiating the sale

This is certainly a critical moment since each decision could close a sale or lose it. Your negotiating skills will have to be sharp enough to understand when it is time to keep haggling on a price and when clients have really reached their possible limit. It is not always easy to go through this period without any support since you will be liable to be emotional and this could lead to irrational or poor decisions.

An experienced property consultant will have negotiated several deals in the past and this will make it more likely to close the sale and get the best price possible for your property. He/she will know more how to play the game and how to detect the warning signals of a nervous or a deceitful buyer.

Signing a Promise of Sale agreement

Once a buyer is found, you will both have to agree on a number of terms and conditions. In the meantime, you will be required to prepare the necessary documents in order to sign a Promise of Sale agreement in front of a notary. This agreement will bind both parties until the signing of the final deed of sale. Generally, a 10% deposit of the agreed property price is paid by the buyer and this amount is kept by the notary until the deed is finalized. This deposit will be forwarded to you should the buyer fail to sign the final deed without any valid reason at law. In the meantime, the notary of the buyer will carry all necessary researches about your property in order to confirm its legal title.

The Final Deed 

Once all the conditions mentioned in the Promise of Sale agreement are honored both by the buyer and your good self, you will be ready to sign the Final Deed, and you will receive the full agreed price. You will settle any expenses required and forward the keys of the property to the buyer. Congratulations! 

Expenses to be paid by seller:

 

  • Government Stamp Duty;
  • Capital Gains Tax;
  • Agency commission;

 For more information please refer to http://www.notariesofmalta.org/ and https://ird.gov.mt/faq/newproptax/newproptaxfaq.aspx