Selling an inherited property is often a difficult step. You associate childhood memories with the house or have lived there with your partner. Many heirs underestimate the huge effort involved in the sale. It takes a lot of time and, in the worst-case scenario, can lead to a loss of assets if not properly prepared.
Property portals on the internet can give the impression that selling a property is an easy process. Simply post the offer and wait for the right buyer to get in touch. But selling a house is different from selling an old television. It cannot simply be sent to the first interested party who is prepared to pay the expected price.
When it comes to estimating the value of their own property, many property heirs encounter their first problems. There is a lack of market knowledge. What should I use as a guide when setting the price, what factors are decisive? Heirs usually tend to choose a price that is too high. As a result, the sales process can not only take a long time, but also lead to a loss of money. Because the property is offered for sale for too long, prospective buyers become sceptical and suspect a problem property. In order to sell the property at some point, you may then have to lower the price significantly.
Even when it comes to advertising the property, not everything is as simple as it seems at first glance. The floor plan is missing, the photos are of poor quality and the majority of property heirs have never heard of an energy performance certificate. If this is missing, however, legal problems can quickly arise.
Due to the current housing shortage, there may be a large number of prospective buyers despite poor photos and too high a price. As a result, your phone is ringing off the hook and your mailbox is overflowing. It is difficult to assess which of the potential buyers is seriously interested and you end up with a bunch of strangers in your house or can no longer keep up with arranging viewings.
Once a few honest potential buyers have been found, it's time to negotiate the price. Without experience in such situations, it is easy to be unsettled and negotiated down. Especially if you have already set the price too high, buyers will find many arguments against the proposed price. In the end, you will probably sell your house for less than it is worth.
If you have nevertheless decided to accept the negotiated price, a purchase contract must be drawn up and notarised. Many documents are required for this and great care must be taken. As a layperson, you can quickly lose track of everything.
Market knowledge and experience are crucial at every stage of this process. These are qualities that a good estate agent should have.
Don't fancy a long and complicated sales process? We will be happy to advise you and ensure that we represent your interests in the best possible way.
Photo: monkeybusinessimages
