Points to ponder when selling your home

Private Property South Africa
Hilton Greeff

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So you have decided to sell your house.

This is not abnormal. Millions of property owners around the world are doing the very same thing, at this very same moment.

Every seller who has decided to put their residential property on the market should consider a few items of interest.

These are not instructions but merely suggestions, as decisions made during the process of selling your property will be entirely yours.

For every property owner, irrespective of what motivation you have to dispose of your property, this is going to be a traumatic period. Just getting rid of “Junk” that has collected in corners and storage areas is going to be a headache, let alone the decision on how to go about getting the best price.

Add the frustration of finding the right persons for various items that have to be attended to, and it will become clear why many property sellers call in the services of a professional Estate Agent in their area to give them some up-front advice.

One bit of advice that I would like to share with you is; - please start adopting a mind set that you are going to be getting the best price that your property commands which is going to be the ruling price that the market will pay at the time that you sell.

Rest assured that to date no one has yet had to “give away their house”, which is an expression often mouthed by sellers.

Market value simply is “What a willing buyer will pay to a willing seller, in a bona fide market at any one given time”.

Every seller’s prime consideration will always be;

a) Is the final selling price a realistic bottom line?

b) How long will my property be on the market?

c) What terms and conditions can be accepted?

The above three concerns work in unison. If you, as a seller, remain rigid on the final acceptance price, you will have to be flexible on the time scale as well as the terms and conditions.

Before you do anything about the selling of your home take time to ensure that every structure and building erected within the boundaries of your property has had architectural plans submitted, and approved by your local municipality.

What was allowed in the past is now no longer acceptable as currently a lot more is called for in order to obtain a Municipal rates clearance certificate.

Your property is definitely going to be inspected by an official to check that all building and structures conform against lodged and approved plans in their possession.

This matter only comes up towards the end of the conveyancing process, and if not in order will cause tremendous delays in registration of transfer, and if not adhered to can lead to costly legal proceedings.

Bondholders over the property need to immediately be notified that you are about to sell in order to avoid paying penalties which will be incurred. This is a cost over and above Bond cancellation fees.

As a property owner you certainly have the right to sell privately, and it happens daily, but there certainly are many problems of which a seller should be aware, that can be encountered along the way.

You may have bought or sold privately at some time in the past but in today’s world of specialisation you may possibly not be an expert. Matters of property selling revolve primarily around legal implications and comebacks which is why it may be a good idea to use someone who does this for a living and knows how to go about it to achieve the best results.

The correct pricing of your property is paramount as the longer it is on the market at the wrong price the staler it becomes. While this happens, the buying public who are very astute and watching market movement, start believing that something is wrong with the property and that is why it is not selling.

Unfortunately the human mind sees bad rather than good and this could result in your property becoming a “Careful, don’t touch” item.

CMA’s and Deeds Office records are there for everyone to view but do you know how to interpret what the facts and figures really mean and they cannot be read as absolute gospel facts on which to base your selling price.

Every property has actually got to be compared with itself in regard certain important factors which are the only considerations determining whether your property is going to sell quickly or become stale and be pulled off the market.

Knowledgeable Estate Agents, who are active in your area, will always be able to assist you to determine the correct price for your property.

Hilton Greeff is the author of “The Home Seller’s Guide Book”. This best seller came about after numerous requests from readers across the country , requesting information that empowers them and leaves them knowing more .

To order a copy visit: www.hiltongreeff.com

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