Selling property – You want to sell your property? For the successful and profitable sale of a property, the first step is always a well-founded and realistic valuation. In the end, this determines the selling price to be set. In the next step real estate agents bring your real estate to solvent prospective buyers, here it is not only about real estate portals and marketing, also the real estate evaluation, credit assessment of the potential buyers, inspection dates and negotiations are task of the real estate agent, up to the sales contract, the notary appointment and tax questions. Get to know the subject of real estate sales in the guide. Simply explained, step by step!
Foreword: Free tips for selling real estate? Yes!
All my tips in this guide are free of charge for you. As real estate agents we arrange real estates starting from 1 million Dollar value, thus real estates under the category luxury real estates. We give you here gladly Tipps and cheat for your sales, free of charge, in detail and step by step explained. Please also pay attention to our links, here you will find more detailed information on the individual topics.
Should you wish to sell your property with us: Do you know what our unbeatable advantage is? We independently reach over 250,000 readers per month, which means 3 million people per year. We are independent from common real estate portals and reach a solvent, special target group. In addition, we offer internal buyer groups and investors in our Off Market area, to whom you have no access via usual offers. Read more here: Real Estate Agents.
What distinguishes investor brokers from other companies is that we have our own money from our partners ready to buy your house. Our investor partners have been in the business for over 25 years and together have hundreds of years of experience. This allows us to have a fast sales process and means that if necessary, we are able to complete a purchase in just seven days.
For a quick, guaranteed cash sale, you won’t get a better offer from Privat for a quick house sale – sell to professionals who can and want to develop your property.
If you still want to sell privately, here is my XXL guide to selling real estate:
Sell real estate: What is to be considered ?
In this guide, you will learn everything you need to know for all types of real estate, from condominiums to apartment buildings and the sale of land. Let us start step by step into the subject of real estate sales.
In our consulting sessions, these are the 8 most frequent questions of our clients:
- How is the best way to sell a property?
- When should I sell my property? Or does it make sense to sell a property now?
- When is the sale of a property tax-free?
- What should you clarify before the start of the sale?
- At what price can you offer your property?
- Sell property privately or through an estate agent?
- Advertising, marketing or off market property?
- Which paragraphs should be in the sales contract and what not? And… (clears throat) should you mention any known defects in the contract of sale?
The sale of real estate can have most diverse reasons, from cases of hardship such as insolvency, divorce or also inheritance up to investment reasons around liquidity to create. Still others sell their property for relatively simple reasons, for example the new spouse and the move to a new city or even the career change, combined with a move.
Property types and basics
In all areas: Selling land, selling an apartment, selling a house, but also if you sell your apartment building, the location is decisive for the selling price of your property.
Selling “free of charge”, i.e. privately and without a real estate agent, carries risks and makes the sale and the entire transaction (valuation up to notary and contract of sale) prone to errors.
Selling real estate means that you need a good network of buyers. Often real estate is not presented publicly, but only internally as off market real estate.
Property valuation: Land and buildings
What else is my house worth? Whether house, plot of land, apartment or an entire apartment building, the foundation of a successful real estate transfer is always a solid, realistic valuation of your own property.
If the price demanded is far above the realistic market value, you will not sell / buyer will not strike
If the price is too low, you are giving away money, a too high purchase price alienates the real prospective buyers. Setting the right offer price is one of the most important points in selling real estate.
Evaluation of the individual real estate types:
- Real estate valuation
- House – Tip! Also row house, semi-detached house & Co.
- Apartment house
The sale of a plot of land is a decision that you have thought about for a long time. There can be various reasons for the sale. But when it comes to the success of the sale, all owners agree. The property should be sold at the best price and without long waiting periods. If you decide to sell privately, you are faced with an enormous portfolio of tasks and organizational details. In practice, offering the property through a real estate agent with know-how has proven to be successful, because sources of error are eliminated and you can offer your property without stress and a reorganization of your everyday life.
Sale apartment / condo
Apartment sale – Many reasons in life make us think about selling the condominium. Especially in old age. Is it less suitable for senior-friendly living, difficult to reach or simply too large and too expensive? Is a job-related move in or has the apartment become too small for the family? Lukinski supports you competently and reliably in selling your apartment. Use our online service and get an evaluation of your residential property.
From the valuation to the speculation tax. In this guidebook you will find all important factors simply explained. Learn step by step how to sell an apartment and answer your questions: Selling with or without a real estate agent? The private sale of real estate involves many risks and sources of error, starting with the apartment valuation, the offer price and the individual marketing, from “advertising” to internal customer network and off market real estate sales. Learn in the following the answers to questions like: When is a good time to sell your apartment? What documents do you need in advance to sell? And can you sell your apartment if it has not yet been fully paid for?
Selling a house – Single-family houses are characterized by the fact that they are inhabited only by a family, a couple or a person living alone. They have a garden, which is also owned by the owner. Not all single-family houses are inhabited by their owners. There is also the possibility to rent a family house with a garden. In almost all federal states, single-family houses are very popular as a form of living. The demand on the property market is correspondingly high.
House types: Types
The sales process for the different types of houses is similar.
- Single-family house (and apartment building)
- Double house
- City villa
- Designer house
- Country house
- Half-timbered house
- Building house / Cube
- Mediterranean house
- More special (Captain’s house, Frisian house, pent roof house, Sweden house or bungalow)
In order to provide you with the best possible support in selling the property, we recommend that you prepare the necessary documents in the best possible way before the appointment.
Sell your house quickly? Tips
Sell a house quickly – Selling a house is a complex matter and involves many different steps. From the creation of an attractive advertisement to the valuation of the property and the subsequent legal steps, such as the purchase contract and the appointments with the notary. During all these steps, various points must be considered in order to complete the sale of the property as profitably and quickly as possible.
Selling a property successfully as quickly as possible is harder than you think. There are many things to consider and many mistakes that can be made. So you should inform yourself about the procedures from the beginning and be sure that you do everything right. Made easier, this process will only be easier for you if you have the right expertise and the right support on the subject.
- You do not have time? Sell your house quickly
Sell apartment house
Selling an apartment house – You want to sell? If you should decide to sell your house privately, this means a lot of time investment. Months pass without market knowledge from the appraisal to the preparation of the exposé, to customer contact and the sales phase.
Therefore the A&O for private sellers, always estimate the time planning realistically! Because even before the sale starts, you should not underestimate the preparation time. Be realistic and be honest with yourself, for example regarding the possible renovation backlog. In addition to all the work on the condominium or the house, there are also all the preparations for the sale.
Fundamental questions arise well before the sale. Here is a quick overview of the most important questions before the sale of your apartment building: Do you have a follow-up property in prospect? Is there a need for renovation / refurbishment? Do you have all documents (land register map, extract from the land register, floor plans, energy performance certificate)?
- Selling an apartment house
Sell real estate: Divorce
Those who choose to marry and be married, in most cases, have the intention to spend their life with their spouse forever and share everything that belongs to them. Nobody thinks during a marriage about the fact that there might be a divorce one day and that there might even be arguments about belongings. But in 2017 the divorce rate in Germany was over 36 percent, which shows that unfortunately not all marriages last forever. Often fraud, daily life including routine or even financial problems are the reasons for divorce.
Sell property: Inheritance
Inherited house selling – There are general questions that reach us, such as “When can I sell an inherited house?” and especially many variants around one topic: taxes on the sale. Is the sale of an inherited house taxable? How is an inherited house taxed? How much is the inheritance tax for a house? Before the inherited house can be sold, it must first be decided whether the inheritance will be accepted at all. It should be noted that an inheritance can only be accepted as a whole. Not only land and property are acquired, but also the mortgage and any debts are accepted by the heir. Thus, not only rights but also obligations are incumbent on the heirs. You have six weeks to decide for or against the inheritance. Within this period, it is necessary to work out whether it is financially worthwhile to accept the inheritance.
In most cases, the heirs decide on the inheritance. Even if the property is located far from the heir’s place of residence. But in exactly this situation the question arises what to do with the property. If neither inhabiting nor renting the house is an option, the most common consideration is to sell the inherited house.
Insolvency of estates
Estate insolvency, what is that? The death of a person who was close to us is always a heavy burden. No matter whether it was already foreseeable that a person would not have long to live or whether it was a surprising stroke of fate, the situation is never easy for the relatives. The death of a person is usually not only associated with incriminating grief, but the issue of inheritance must also be dealt with. There are the most different situations: Some people have already thought about who should inherit which shares before their death and other people have not thought about it or have not had time to deal with the topic because they were surprised by a stroke of fate.
- Sell property: Insolvency of estate
Valuation at the sale of real estate: Calculation
All important information on the valuation of real estate sales summarized for you: Valuing real estate.
Ertermswertverfahren: Distribution of traffic & building income value
The income capitalization approach divides the property into the market value of the land and the building income value.
land value interest amount = 7 percent * 100,000 Euro = 7,000 Euro
Building yield value = 5.600 Euro * 12,50 (duplicator) = 70.000 Euro
This includes rental income, maintenance costs and costs for the management of land and buildings. This is compared with rental income less operating costs and the value of the land including interest.
- Income capitalization method
Material value procedure: Value for the reconstruction of a real estate property
The calculation first determines the market value of the floor with the floor standard value, then the building standard value is added.
The real value of the building is the building production costs minus any age reductions. The land value (market value of the land) and the building value are added and multiplied by a material value factor.
Natural value = (100,000 Dollar + 150,000 Dollar ) * 0.5 = 125,000 Dollar
The calculation of the asset value factor depends on the building type, the provisional asset value and the standard land value. The total real value determined in this way indicates the financial resources that would be required for a new construction of the property.
- Asset value method
Comparison_value method: Comparison of similar properties
The comparative value method compares your property with similar objects. It is used in particular for the sale of condominiums and apartment buildings. The comparative value can also be determined for undeveloped land.
square meter price of the comparison object = 300.000 Dollar / 100 sqm = 3.000 Dollar per sqm
Purchase price of the property to be valued = 3,000 Dollar * 200 sqm = 600,000 Dollar
Only objects in similar locations and with comparable cuts are taken into account in the comparison. The real estates entering into the valuation should come from direct proximity of the residential object. The comparative value procedure is considered as particularly realistic. It is very often used in the valuation of real estate, because the locations are regionally relatively well comparable.
- Comparison value method
Apartment valuation and value factors – You have a condominium and want to know what it is worth? Of course you can immediately go to an appraiser and/or real estate agent with this question. However, the exact valuation becomes important at the latest when you want to sell or bequeath the apartment. Even in the case of a mortgage – for example if you want to buy another property – the value should be determined very precisely. That is when the expert comes into play.
What influences the value of an apartment? Let’s stick to a very rough valuation. In order to determine the value of your apartment, a number of “soft” factors play a role.
Rating a house
Purchase price roughly estimate or let estimate – If house or dwelling were bought not too long ago, building costs or the purchase price offer first appoximate values with the house evaluation. The most important criterion is the location. The real estate prices differed regionally partly substantially. Therefore only objects in the proximity may enter into the real estate comparison. With the house evaluation are likewise aspects of the micro and macro situations, as well as the direct location of the object of importance: Soundscape, view and lighting conditions interest potenzielle buyers and affect real estate value and the attainable price.
- Evaluate the house
Valuate apartment building
If you want to sell your apartment building, then one thing is important: A sound, market-oriented, realistic purchase price. The central questions of owners: What is my property worth? How do you calculate the value of an apartment building? How does the tax office determine the value of a house? Who determines the market value of a property? How does the bank value a property? Many questions and many facts that you will encounter when valuing an apartment building. To give you a first impression of the complexity of location, market value, comparative properties, building fabric & Co., we have written this guide on the subject of multi-family house valuation for you. Value factors, location, equipment, market value, realistic price:
- Evaluate apartment building
Determining market value, valuation and purchase price – How do you value a property? How to calculate the market value of a property Who may value a property? Who provides information about the standard land value?
- Valuate property