Selling or renting a property is a way to convert the estate into a source of extra income to relieve the pocket, but for this operation does not bring headaches is necessary to meet certain requirements, experts say. These two options require knowledge of the legal situation of the home (which is not mortgaged or in a legal suit), and preferably have a real estate consultant to help determine its value to not overvalue or ask for less money.
Among the factors that determine the fastest sale or rent of a house or apartment are the price, the payment method, and the conditions of the property, the area where it is located, access to it and the attitude of the owner.
It is also necessary to take into account the expenses derived from these operations, which are mainly the payment of the notary in case of the sale, or of an accountant or lawyer for who will rent the property, in addition to an insurance that protects property.
Another important point that should be considered is the paperwork that these transactions imply, it is necessary to take into account the expense in the notary, lawyer, professional appraisers, real estate agents and accountant to calculate the tax burden derived from the sale or rent of the property.
It is important that people know that there are trained real estate professionals to ensure the best conditions in the case of sale or rent, in addition to knowledge of the processes that avoids unpleasant surprises and in some cases decreases the waiting time.
Determine the waiting time
This element is essential to know the negotiation margin you have. For example, if you need to sell or rent because you need cash, the negotiation time should be reduced and with this the possibilities of obtaining a client with greater advantages. If, on the other hand, you are not in a hurry to lease the property, you can afford to wait for the right buyer or tenant, which will undoubtedly allow you a higher profit margin. In the case of hiring an agency or real estate professional, one year contracts are usually established to offer the house through a commission that is achieved with the sale of the property.
Documentation in order
Experts recommend checking that all papers are in order, since there are times when the property is not legally owned by who wants to dispose of them, as when the owner dies and the succession of the property has not been made. Another factor is when the deeds of the property have errors that may prevent the sale or hinder the accreditation of the property, such as faults in the description, location or name of the owner. The documents that you must have are: property title or deed registered in the Public Registry of Property. Properly paid water and land bills, electricity and telephone bills in addition to the additional services contracted, official identification and a location sketch to facilitate the location.
Define the price
Determining the value of a property depends on several factors, such as location, accessibility, services, land use (whether it is residential or commercial), the development of the area, its size and the construction materials. The ideal is to hire a professional appraiser in the case of the sale, to ensure that it is not asking much more than what is really worth, or on the contrary, that we are devaluing the property. However, it must be pointed out that in these cases when making the transaction before a notary it can legally request the valuation of an expert to determine the real value of the house. In the case of rent it is possible to take this price as a parameter to insure the property and request a reasonable amount for the lease.
When a home is well preserved, there is a greater chance of selling it quickly or asking for a higher price for rent, so it is important that you consider investing in maintenance. Check the water, electricity and gas installations. It is also important to keep it free of debris, garbage and that it has adequate ventilation and lighting.
Explain in detail the requirements and conditions of the purchase or rent is essential to have a contract that covers both the buyer and lessee, as the seller or lessor. For sale, it is necessary that it is endorsed by a Notary or Public Broker, which gives legal certainty to both parties. For rent, experts recommend establishing in the clauses information on the state in which the property is delivered and the conditions required for its return, the obligations of the landlord and the tenant, the amount of the rent, date of payment and penalties in case of delays. It also serves to get the owner covered in case the tenant hires services and does not liquidate them. Clauses can also be established where the causes of contract termination, such as payment arrears, public disorder, etc., are established.