Prepare Property and Documents – A home must be in good condition to be placed on the market. This means that if it has damages such as a broken window, unpainted walls, etc., these must be fixed before promoting it. Likewise, the documents of the house and its legal procedures must be up to date and in order to facilitate the sale process.
Contact us! – Once you have everything in order for the sale of your property, you can contact us directly or contact an advisor in the area where your property is located. At NATIVU our consultants are specialists in the area they represent, and they reside within it in order to provide more value and knowledge of the market in the community.
Appraise the Home – A vital step is to find the price of your property, for this you must make an official appraisal through an expert. In addition to an evaluation in conjunction with your real estate advisor to make an analysis of the market in which you are going to position.
Promote the property – Photos and videos are taken to generate the visual content necessary to promote the property on different national and international platforms with which NATIVU has agreements.
Open houses and Showings – You must be willing to show your house / property to potential buyers. If you still live in it, the advisor will always be coordinating with you so that it is not inconvenient, in addition to a prior study of each applicant before taking them to the property and in this way avoid wasting time and money to owner.
Receive Offers and Starting Negotiation – This process consists of a lot of communication, in which the conditions of the sale must be negotiated between both parties. Real estate consultants are in charge of receiving offers and sending them to you as the owner and thus deciding with whom to carry out the transaction.
Make Contract – Based on the guidelines established during the negotiation, a contract is made for the sale of the property, within this the final price, possible arrangements, type of payment and other necessary formalities will be established.
Sign with a Notary and Sold! – The signing of the deed of sale is the most important step, since it is the one that closes the entire process and makes the transaction official. This must be before a notary public that is normally chosen by the buyer, although it can be proposed by both parties.
This first cost is of great importance because it covers the conditioning of the property for sale. This would be to fix what is damaged, paint what is already worn out, and keep the house presentable. An example of this would be in the case of selling a lot; the grass will have to be cut and maintained to make it look presentable and thus be sold. If this is not done, it is likely that the negotiation (if reached) will be punished, because even in the first visit you can see repercussions of not fixing the property since you could lose the client.
Costs to Offer an Available Property
This cost is not only that of the mortgage; in fact, if a property has some type of lien or is in a trust, these obligations must be eliminated before the real estate can be sold. Generally this can be a cost that the owner does not anticipate because trusts have a set of rules under which the property can be released and this can extend the sale process. Likewise, other costs of offering free property could be land and municipal taxes, pending condominium fees, or partnership taxes.
This cost depends on the needs you have as a homeowner and are separate from transaction costs. For example, if you need legal advice on legal processes, to review the sales contract or others; this cost is separate from the transaction cost and must be fully covered by you.
Costs During the Transaction:
The transfer cost can be negotiable between the two parties. The law does not stipulate who must cover these expenses, only that the costs must be covered. These include: stamps (approx. 1.3%), transfer tax (1.5%), fees (staggered 1-2%), and escrow (0.25% or from $ 400) and so on. It is customary for the buyer to cover these expenses, but they are fully negotiable between the two parties and can influence other aspects of the transaction. For example, a buyer can bid with a more aggressive price but covers the transaction costs in full, so it all depends on the negotiation.
Costs After the Transaction:
Commission for Real Estate Advisory
The value of a real estate consultant is very important, as he can determine the course of the sale of your property. An advisor knows the state and type of the market, how to navigate it, how to handle a potential client, what to do to sell your home, etc. This advice is invaluable, and facilitates the entire transaction process for you as the owner. The commission will be determined by said advisor and his company, in addition to the fact that VAT must be covered. This cost is non-negotiable, especially the legal cost.
Tax on Capital Gain
This cost is non-negotiable and it falls directly to the owner; This will not be paid only if the property sold was the primary residence and not an additional productive lot or farm. If the real estate sold was land on which the owner did not live, then he must pay this tax. This cost can be 2.5% of what is left on the books of the transaction or 15% of the profit.
Generally these costs are not financial or legal, but maintenance and other contingencies. For example, the cost of maintaining a house (keeping it presentable), the costs of canceling basic services, or moving costs.