Costa Rica Real Estate – This is part of our series on buying real estate in Costa Rica. We hope to provide information needed to make an informed decision about purchasing land, condos, houses or commercial property in Costa Rica. If you want more information about this property or buying real estate in general you can request the free e-book, “Secrets of Buying Real Estate in Costa Rica”
When in a situation where you need to sell your house as fast as possible, it is exasperating as days go by without you hearing anything from your broker or interested buyer. Day after day you’ll wait and hope for the perfect buyer to come along and make a magnanimous offer. The problem is the number of active real estate property listings increase every week so as days pass that you are not hearing from a potential buyer your chances of selling your house declines. As a seller, what is your plan to make your home stand out among the hundreds or thousands of properties that are up for sale and set you apart from the competition? Fortunately there are ways to speed up the sale of your home without sacrificing profit.
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- Be wise, realistic and set the price of your property competitively. Most sellers usually start the asking price high then lower it down if the house does not sell which results
to slower sale at bargain-basement price. A good move would be to seek help from a good realtor who can help you set the price of your house perfectly. Brokers or realtors are professionals who know the local market like the back of their hands and usually do comparable sales to make sure that you are setting a realistic price. There are three kinds of selling according to price: quick sale where you are willing to sell your house at about 25 per cent less its market value, fair market value that other comparable homes are selling in the area, and fishing where in you want to get double the real market value of your property. Keep in mind that you we don’t want to price your house too low as it would mean you would leave money on the table and we do not want to set the price too high because you will get few offers for your property and may result to your property getting stale on the market. - Improve your home’s curb appeal; remember nothing is more important than a lasting good impression. To do this, we have to consider what a potential buyer may think as soon as he or she drives up to your property the first time so we have to ensure that your home looks so much better than your competition. You may need to add new sod, plant flowers or spruce up the garden and repaint the front doors and the fences. When your house is on the market, it is imperative that your landscaping is well-groomed and the lawn is moved.
- Ensure that your house is not messy, cluttered and you have to neutralize it. You have to understand that buyers are nosey and they have every right to be since they are parting with hard earned money or take on a long term loan to buy your property so make sure that it is pristine and free from your personal items. We do not want to make it hard for buyers to imagine themselves taking control of your house so photos and personal collections should be packed away. Lastly, the scantier the house is the roomier it would look.
- Make repairs and minor upgrades. Any issues with the property like leaky roof and pealing paint will be a real turn off to potential buyers so it has to be repair or fixed before you put it in the market.
- Stage the house and make it look bigger and brighter – proper lighting is the key to achieve this effect. Read magazines or watch TV programs about redecorating and real estate and mirror what the experts are doing to properly stage a house. You should also pay special attention to the bathrooms and kitchen since these usually add to the price people are willing to pay.
- Hire a professional photographer. It is critical that you have high quality professional photos of your property and should be available in CD. This would help your agent to show off your property to potential buyers and you can also post it online or get it printed on local magazines. Having a professionally taken photo of your house would accentuate its best features and great selling points.
- Commission and Incentives should also be taken into consideration and should not be taken lightly. Remember that your agents are people who are motivated by bonuses and incentives which would make them spur on to sell your home as fast as they can. Cutting their pay won’t help you in any way rather it would keep you away from your main goal which is to sell your house. Consider this, if your competition is willing to pay a higher commission than you, which property would your agent sell first? For your best interest, always sweeten the deal with a little something extra as it would go a long way.
- Make sure that your house is accessible when your broker and potential buyer shows up. If you are travelling all the time or are staying in a different country, you should leave the house keys to someone who is living in the area that way your house can be easily shown off. If you have pets, you have to remove them from the property as it may cause a problem to buyers who are not pet lovers of afraid of certain animals.
Get Your Free Copy of “Secrets of Buying Real Estate in Costa Rica”
Property Ownership Types
Is the Property Really for Sale?
What is the Maritime Zone?
Myths About Squatters
Construction, Architects & Engineers
Purchasing Under a Corporation
Financing
And so much more……..
