property sale by owner

More than 100,000 residential properties are sold by owners in Germany every year. Many owners, who take the sales into their own hands, are unaware of the associated financial and time expenditure.

Determine value
Already in the determination of the right offer price is in the run-up to a considerable effort. Anyone who does not bring the right instruments and experience here can be seriously wrong with his assessment.
Whether the value is set too high or too low, in both cases, this leads to some high losses.
A realistic bid price will bring the desired success in a short time. If the price is set too high by 20 percent, a lower result will be achieved, and with a much longer marketing time. The loss of assets due to the lower proceeds from the sale will be offset by any installments for interim financing and housing allowances for vacant apartments. The long marketing period leads to an increased skepticism of the offer for those who have been on the road for a long time. This will then only be accepted at a large discount.
The private seller has a harder time determining the right bid price. He has to monitor the real estate market over a longer period of time to get a feel for prices and market developments. You can listen to the advice of colleagues and friends, listen to what fantastic price the neighbor sold his property or how cheaply he bought.
A faster result brings a professional, by expert opinion for an average of 1500 € or free of charge.

Obtain documents
Depending on the type of real estate, extensive documentation is required for the sale of the real estate, such as the utility bills, minutes of the owner meetings, declaration of division, energy pass, land register excerpt, which must be procured partly with a high expenditure of time and cost money. Lack of important documents, this can not only delay the sale considerably. In the absence of an energy certificate even threaten up to 15,000 euros fine. For a qualified and dedicated broker this is of course part of the scope of services. Not only does this save time and money for the seller, it also saves the buyer, who receives a financing commitment more quickly, if all documents are quickly available.

real estate marketing
Real estate advertising is not easy either. Attractive texts and photos (including 360 ° and drone use), as well as well-prepared floor plans are a craft that comes from experience. Every property needs a marketing concept.
In order to reach qualified buyers, an advertisement with an appealing exposé on several of the known and expensive real estate portals makes sense. If you want to make your property stand out from the crowd with premium placements, these costs are considerable. For the marketing of particularly high-quality real estate the work of a professional photographer is advisable. This costs an average of 300 € for apartments, much more for houses – with appropriate objects, however, well-invested money.

Correspondence and telephone calls
Especially in sought-after locations, many different interested parties. In this phase, requests must be answered quickly and correctly. A wrong statement can later lead to claims for damages. Of course, the private seller receives the calls exactly when he has no time. After all, real estate sales are not his profession. So he has to call back. The interested party then asks for what property it is, because he has lost track of all the real estate offers.

For the private seller the sightseeing cause the largest expenditure of time. The interested parties want to be invited to individual appointments. With a bit of luck, the interested parties also appear on the agreed dates. There is a considerable amount of time involved in agreeing and carrying out viewing appointments, canceling appointments and avoidance appointments, as well as reviewing the visits, answering questions from interested parties and submitting any documents.

Negotiations and notary appointment
Once the right buyer has been found, the most exciting phase of the sale starts. It must be negotiated the purchase price, the financing of the prospective buyer to consider, a draft bill of a notary is to be requested and at best to conclude at an emergency appointment legally valid. Should the prospective buyer think differently before the contract is concluded, which usually happens at short notice and surprisingly, the seller usually receives an invoice from the notary’s office for a few hundred to several thousand euros for the purchase contract draft. A well-prepared purchase agreement saves time and money.