Important & Guiding Tips for Property Seller

Important & Guiding Tips for Property Seller

Important & Guiding Tips for Property Seller

Be Patient

  • Once your property is in the market it will take time. Any process after you finalize on pricing, it will take anywhere from 2 to 6 months to close the deal.

Pricing must be realistic 

  • Don’t Create a wrong impression by pricing it high and then reducing it. A reputable listing agent can help you here. He knows the current pricing trend of a property in that particular area.

Be Flexible during Property Inspection

  • Never turn down any house inspection. The best way to sell your home is to let a buyer inside with their buyer’s agent to tour in peace. Leave the house when buyer’s agents show up. Anything you say can and will be used against you. Plus, buyer’s agents prefer to show without interference.

Insist on Good Photography 

  • If you have hired a top-notch listing agent or broker, your agent most likely already provides professional photos. It’s not enough to just get the angle right in the photo.

Revert back Promptly to an Offer 

  • Try to respond promptly to an offer either by accepting their offer or issuing a counteroffer. Remember, if you are selling because you need to buy a new home, you are no different when you are a home buyer yourself. Remember one more important aspect of an offer it contains a date by which the offer expires.

Accommodating Buyers Payment Schedule 

  • Try to accommodate buyers payment schedule and the way he is going to pay. Do consult your agent to understand if any legal implication in the mode by which the seller is offering to pay.

Legal Specs

  • Either you have a legal advisor or asked your broker to get you one who he has been working together to get the legal paper checked for you made by the buyer’s legal.

Transfer of Ownership

  • See to it that name has been transferred in Share Certificate, Property Tax, Electricity Bill, Pipe Gas Bill so that you are not bothered in the near future for pending work as your broker or Real Estate Agent is there to guide you for this work.

Check if you come under Capital Gain Tax in India

  • If you sell a house within 24 months, you have to pay an STCG (Short Term Capital Gain) tax on the gains as per your income-tax slab. After 24 months, you have to pay an LTCG (Long Term Capital Gain) tax, which is charged at 20% with indexation benefits.

Section 54 gives you an exemption if you sell a property and buy another one

Any Query then please get in touch with Spectraa Real Estate Advisory for any assistance

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