More and more people have become disillusioned with the stock market and disappointed by projected pension returns and have decided to take it upon themselves to actively invest in real estate to secure their financial future – and personally I do not blame them…in fact, I’ve done the self same thing.
Investing in real estate can be an excellent way to really make your money work for you and generate you an attractive monthly income or a lump sum in the form of a capital gain…but there will come a time when you’ve finished with one investment property and you’re ready to resell it – either to release the funds you’ve invested in it or to gain access to the profit you’ve accrued – in other words, to get your hands on the money all tied up in the property.
So, if you’re already investing in a second home and are now thinking about reselling it to release the accrued equity that you’ve built up then you’re going to want to know all about quickly selling your investment real estate for maximum profit…
The first thing you need to consider objectively is the state that the property is in.
The better presented the home when it comes to reselling it the quicker you will sell it and the higher the price you will get for it. Ideally, if you can present a home in as neutral and complete a fashion as possible, the more people you will attract, the fewer people you will repel and the more interest you will generate.
Ensure first impressions are good, paint shared hallways in an apartment block, clear your driveway of debris for a stand alone house and clean windows, polish door furniture and make your property worth viewing.
Once inside clear all clutter, remove all personal items such as ornaments and photographs – if you have spare furniture then furnish the property minimally but neatly to show off the home’s potential.
The next thing to consider is whether or not to use a realtor or to go it alone
Personally I would always recommend using the services of a regulated, professional and experienced realtor…they can be worth their weight in gold but there are pros and cons to each approach. For example, using a realtor will cost you money but then you will gain immediate access to their database of potentially interested clients. Going it alone will save you money but it will mean you have to shell out cash for advertising and you will have to make all the appointments for viewings etc. – boring!
If you do decide to use a realtor make sure you’re aware of their commission and aware of what it is that they will do for you to get your home sold. Don’t be afraid to tie them in tight to a contract based on their performance…after all, the harder they work, the better price they will get for you and the more commission they will make for themselves.
Now you have to set the price
This part is not as easy as you might think – ask yourself this, ‚how much is my property worth?‘ Do you know the answer? The answer is – it’s worth as much as anyone is willing to pay for it!
I can guarantee you could sell your property in five minutes if you put if on the market for fifty dollars! But one of the keys to successful property investment is gauging the market right and setting your property at exactly the right price so you get maximum interest and plenty of positive offers.
Here are a list of factors that can affect house prices…you might want to consider these when pricing your property…
Negative factors
A local economic downturn or recession
Higher interest rates affecting the cost of borrowing
Over-supply of real estate
Location has gone out of fashion
Badly presented property
Positive factors
A booming economy
Affordable cost of borrowing
Shortage of quality real estate stock
Location is going up in status and becoming fashionable
Your real estate just stands out in terms of quality or appeal
Figure out where your home fits into the local market, price it accordingly and get it onto the market quickly. You can also get in a few realtors to give you an idea of what they think your home is worth before you set the final price and it’s worth asking them for their opinion about any last minute improvements you can make to the presentation of your home as they listen day after day to the reactions of buyers and so they really know what sells a particular property like your own.
If you follow these guidelines and are not too inflexible in terms of changing the layout of a room or the guide price of a property based on professional and market feedback, you will sell your investment real estate quickly and for maximum profit enabling you to move onto your next investment project.
Immobilienmakler Heidelberg Makler HeidelbergSource by Rhiannon Williamson