Before putting your home on the market, it is important to be well prepared so the process runs smoothly and successfully. Because I want to be extremely thorough in my work and squeeze the maximum price out of every property in the minimum time, I always prepare a sales analysis before launching a property on the market. The sales analysis gives you all the knowledge you need to sell your home successfully.
Here are some important aspects you should know or consider.
Property valuation
Determine the fair market value of your property using a market analysis or a professional valuation. Setting the right price can affect the speed and success of the sale. This is especially important in a falling market, where correct pricing can save thousands of euros. I have dozens of Uus Maa valuers and hundreds of agents at my fingertips. Together with them, we discuss every property in the sales committees held at the office. With this pricing model, the margin of error is a couple of percent.
Preparing the home
Prepare the home properly before listing it. This may include repairs, cleaning and improving its appearance so the home is attractive to buyers. As an agent I see many different properties and can advise on simple, inexpensive tricks to make your home more attractive and speed up the sale.
One example is the apartment at Suur-Ameerika 20, which we sold in three weeks after the owner did some cosmetic repairs. The buyers, the seller and I were all happy.
Getting the documents in order
Check that all documentation relating to the property (proof of ownership, building permit, occupancy permit, etc.) is in order and ready to present to buyers. It may turn out that the documentation is incomplete. Here I can offer several partners who deal with exactly these kinds of problems. What matters is not the problem but solving it quickly and competently.
Planning the sales strategy
Draw up a sales strategy, including a marketing plan, timeline, and the ways and channels for advertising the property. The strategy is very personal and I create a different one for each property. Much depends on the condition, location and the owner’s wishes. Drone photos or video? Paid targeted ads only on Facebook, or on Instagram too? Active open days with a property catalogue, or without? Or everything at once?
Legal considerations
It is good to know the legal aspects of the selling process, including property law and the terms of the sales contract. You may also consider involving a legal adviser to ensure all legal aspects are handled correctly and properly. As a Uus Maa agent, I am backed by the lawyers and legal team of Estonia’s largest real estate agency. This ensures lawful and fast handling even when problems arise.
Comparable offers
It is always good to know what is on the market and at what price. Having an overview of the competition gives you a big advantage. This is exactly the information I use in pricing.
Previous transactions
It is important to keep an eye on completed transactions in the area. This shows the prices at which properties have actually sold. Access to this information is generally restricted, but fortunately I can help you there.
Being ready to show the home
Be ready to show your home to interested buyers. This means a flexible schedule and preparing the home carefully for every viewing.
Financial considerations
Take into account the costs of the selling process, including the agent’s commission, advertising costs, repair costs and fees related to the sales contract. The best way to get a good overview of the costs of selling your particular apartment is to call me and ask.
Checking potential buyers’ finances
Be aware that some buyers may apply for a home loan or other financing, so it can be useful to check their financial position in advance before accepting offers. Since there are many buyers on the market who have not applied to a bank, or did so too long ago, it is always worth checking the situation proactively. Thanks to the contract fee discounts and priority handling we have secured, my clients always get an answer from the bank first.
Terms of the sales contract
When starting negotiations and accepting offers, make sure the sales contract contains clear and acceptable terms that protect both your interests and the buyer’s. Fortunately, in Estonia the process is led by a notary, whose work is made easier by an experienced agent.
With these points in mind, you should have a good overview of selling your home. If you want all of this in simplified form, straight from an expert, let me know and I will prepare it for you completely free of charge. Get in touch!
