12 typical mistakes when selling an apartment – The road to successfully selling a condominium is paved with potential pitfalls. To avoid these and achieve the best results, careful planning and avoiding typical mistakes is essential. Here are 12 typical mistakes (â) made by sellers and 12 practical tips on how to avoid them during the preparation phase. Avoid mistakes? Use the sales expertise of good estate agents. Our estate agent recommendation, Lukinski! Write, call, we and I look forward to talking to you: Contact.
Checklist: 12 mistakes when selling
12 mistakes at a glance. After the table, all errors in detail with practical tips for each risk.
|Error (❗)||Practical tips|
|Incorrect pricing||Tip #1: Comprehensive market research, commission an expert.|
|Lack of preparation||Tip #2: Repairs, thorough cleaning.|
|Unprofessional presentation||Tip #3: High-quality photos, appealing description.|
|Missing or unclear documentation||Tip #4: Have all documents ready.|
|Insufficient negotiation skills||Tip #5: Broker or negotiation training.|
|Lack of legal protection||Tip #6: Have the purchase contract checked.|
|Unfavorable times||Tip #7: Market observation for time of sale.|
|Lack of clarification of financing||Tip #8: Credit check before negotiations.|
|Unclear handover||Tip #9: Detailed documentation on handover.|
|Uninformed tax decisions||Tip #10: Consult a tax advisor.|
|Lack of patience||Tip #11: Realistic planning, stay patient.|
|Insufficient legal review||Tip #12: Check the legal situation with a lawyer.|
Setting a price that is too high or too low can deter potential buyers. Thorough market research is important to determine the right selling price.
What to do? Tip #1
Tip: Carry out comprehensive market research. Analyze similar properties in your area to determine a realistic selling price. You could also hire a professional surveyor to determine the value of your home. This will help you determine a good asking price.
Lack of preparation❗
An unprepared or neglected apartment can reduce the interest of buyers. Minor repairs and a thorough cleaning can significantly improve the impression of the apartment.
What to do? Tip #2
Tip: Go through your home thoroughly and make a note of any repairs or renovations that should be carried out before selling. A well-kept first impression can increase the value of the apartment. With sufficient lead time, you can prepare your apartment for sale and increase its value.
Poor photos, incomplete descriptions or missing information on real estate portals can deter potential buyers. An appealing presentation is crucial for the success of the sale.
What to do? Tip #3
Tip: Invest in high-quality photos that highlight the best features of your home. Write a detailed and appealing description for real estate portals. Also consider whether a virtual tour or video could improve the presentation. All of this then goes into the finished exposé.
Missing or unclear documentation❗
If important documents are missing or incomplete, this can delay or even derail the sales process. Make sure you have all the necessary documents ready.
How to prepare? Tip #4
Tip: Make sure you have collected all the relevant documents before you put the apartment up for sale. This includes land register excerpts, declarations of division, energy certificates and other legal documents. Here is a small list of documents for the sale.
Insufficient negotiation skillsâ
Poor negotiation skills can lead to a lower sales price. It is important to conduct negotiations professionally in order to achieve a reasonable price.
What to do? Tip #5
Tip: If you are unsure of your negotiating skills, hiring a professional broker could help. Alternatively, you could read up on negotiation techniques yourself or even take part in training courses.
Lack of legal protection❗
A poorly drafted sales contract can lead to legal problems. A lawyer should review the contract to ensure that all relevant aspects are covered.
What to do? Tip #6
Tip: Have the purchase contract checked by an experienced lawyer. This will ensure that all relevant aspects are taken into account and that you are legally protected.
What to do? Tip #7
Tip: Monitor the real estate market and choose a time to sell that coincides with increased demand or a positive market trend.
Lack of clarification of financingâ
If the potential buyer does not have secured financing, the sales process can come to a standstill. Make sure that the buyer has the necessary financial resources.
After 3 or 4 months you find the “perfect” buyer and then the deal falls through – you don’t want that to happen.
Any ideas? Tip #8
Tip: Before you enter into serious negotiations with a potential buyer, check whether they have secured financing. This will save you wasting time unnecessarily. There is also a credit check for sellers.
The handover of the apartment should be clearly documented in order to avoid subsequent disputes about the condition of the apartment.
What to do? Tip #9
Tip: Document the condition of the apartment in detail before the handover by taking photos and drawing up a protocol. This can prevent disputes later on.
Uninformed tax decisions❗
Tax aspects can have a significant impact on the sales proceeds. Wrong decisions can lead to unexpected tax burdens.
Do that? Tip #10
Tip: Consult a tax advisor to understand the tax implications of the sale and discuss possible optimizations.
Lack of patience❗
The sales process can take time. Acting impatiently can lead to hasty decisions.
And now? Tip #11
Tip: Plan the sales process realistically and be patient. Rash decisions could lead to financial losses.
Insufficient legal review â
Make sure that there are no legal obstacles to the sale, e.g. due to ongoing disputes or unclear ownership.
What to do? Tip #12
Tip: Have the legal situation of your home checked by a lawyer to ensure that there are no obstacles or disputes that could jeopardize the sale.
By taking these tips to heart, you can increase the chances of a successful and smooth sale of your condominium!