All of us hope to make a tidy sum after we sell off our house. While real estate definitely appreciates in a span of five to ten years and even in a short duration of two- five years, there are quite a few parameters that needs to be considered by a buyer before he puts up his home for sale. Here are some tips to get a great valuation for a home.

Presentation The appearance of your home plays a great role in determining the price it will fetch. So, take the efforts to tidy up your place before a buyer comes home. The house should look neat and issues like leakages, creaking doors/ windows and fading paint should be sorted out beforehand.

It’s always advisable to get a home painted before putting it up for sale than to wait till you actually find a seller.

Market knowledge When you hire an agent to sell off your place, be prepared with some necessary information. One of the crucial points is knowing the rates at which flats in the neighbourhood have been sold in the last six months. However, the properties sold should be similar to your place. This will equip the real estate agent as well as you to bargain better.

Laws and policies A seller must be aware of charges such as Ready Reckoner Rate, Stamp Duty, VAT, Service Tax and so on. This will help him in setting up a good selling price, which will attract buyers. Being thorough with society laws also helps to a great extent.

The seller should also know the current capital values in an area and also about its future scope for appreciation. Such information will help you in negotiating the best possible deal.

Honesty pays If there are some issues with the apartment, building or locality, be frank with the buyer. In most cases, the prospective buyer is aware of what’s right and wrong with the locality and at what prices the flats are being sold there. In case a seller fibs, he’s likely to be caught.

Make improvements Home improvements can make a world of difference to the valuation of your home. So, get your re- painting, plumbing and renovation done before you put it up for sale. You will be spending a lot on a makeover and might want to recover your money. Moreover, a prospective buyer will quote his price on what he sees the first time round and not what it will be two months later.

Don’t go overboard On many occasions, sellers do large scale home improvements thinking it will drastically raise the value of their home. This is not true. A buyer will pay for a home mainly on factors other than great interiors. Surrounding infrastructure, location and carpet area are usually the three main factors. A buyer looking for a resale home won’t be high on luxury amenities, in most cases as well. While making improvements make sure they are functional and not merely cosmetic.

Etiquette While talking to a prospective buyer, don’t chatter away mindlessly. Make sure you place your information in a concise manner. Describe the recent improvements made to the house and other relevant details. Lastly, don’t ask buyers about what they feel is the actual worth of a house.


Source :- Midday Hot Property