How to handle a remote sale
Category RealADVICE
Homeowners often choose to change towns after a few years - to be closer to family, to retire, to change their lifestyle and, often, to take up a new job or a corporate promotion.
And that is usually an exciting prospect, says Gerhard Kotzé, CEO of the RealNet property group - unless they have to move in a hurry, to meet a school or work starting date, for example, and don't have time to sell their existing home before they go.
"They will then be faced with the challenge of having to handle the sale remotely, while possibly also looking for a home in the new location, and sometimes one spouse or partner will even stay behind to ensure that the property remains secure and presentable until it is sold and attend to the many administrative aspects of selling a property.
"However, this is obviously not an ideal situation, and also won't work for the increasing number of single homeowners. So if you have to sell remotely, it's a much better idea to appoint a reputable property professional with local market knowledge and, hopefully, some experience of remote sales, as well as access to excellent marketing platforms to give your home maximum exposure.
"This agent will be your trustworthy 'eyes and ears' when it comes to maintaining the security and appearance of your property and conducting viewings with prospective buyers. They will also be set up with the technology to streamline the signature of contracts and other legal documents so there are no unnecessary delays in finalising the sale."
Once you decide on an agent to market your home, he says, you should also reach agreement on any extra tasks you would like them to handle and write these into your mandate document. "To deter burglars or vandals, it's a good idea to ensure that the grass will be cut, the pool cleaned and the junk mail cleared away. Even if the home is empty, someone will also need to air it out occasionally and check that the burglar alarm and other security equipment is working.
"You may also need to give your agent the keys or access codes so that they can show the home to prospective buyers, and you should let them know that you expect frequent communication and updates, and especially feedback from any viewings."
If you have time before you leave town, says Kotzé, you may want to do some work on your property to prepare it for sale. This could include cleaning, staging and making any repairs or upgrades that will improve the prospects of a sale. "Your property professional will also be able to help with this and, if you wish, co-ordinate any tasks that you don't have time to complete.
"They will also advise you about what documents you need to gather together to facilitate the sale, such as the title deed, building plans, safety certificates and municipal accounts showing the current rates charged on the property. It's a good idea at this stage to also review the provisions of your homeowners' insurance, as many companies only offer limited cover if a property is vacant for more than 30 days."
The last step is to set an asking price for the property and once again, he says, you should really lean on your agent to help you with this, based on their knowledge of local market conditions and recent comparable sales.
"Getting the price right from the beginning is crucial for a successful sale, in addition to broad exposure that will attract the maximum number of prospective buyers within a few days of the home being listed for sale. For many reasons, you don't want any property that you are selling remotely to be on the market for too long."
Author: RealNet
