Selling a property can often be an uphill task for
owners. Right from finding a prospective buyer to finalizing the sale
agreement, owners need to do their homework in order to strike a favorable
deal. Following are some tips for selling property:
First and foremost, one needs to do a proper valuation of the property to be
sold. It can be either a self-assessment or assessment of the property through
an external source. Owners can determine the prevailing market rate in the
locality for similar properties by informally enquiring about the market
values of properties in the vicinity. Or one can hire professional agencies to
assess the value of the property.
Finding a prospective buyer is the next step. Owners may take recourse to
classified advertising in newspapers or Websites, approach professional
brokers or rely on word-of-mouth to identify the purchaser. While approaching
a real estate broker, one should check the track record and reputation of that
consultant from market sources. It is equally important to check the
credentials of the purchaser in terms of his background, financial
capabilities and reliability.
After having satisfied oneself about the credentials and financial abilities
of the prospective purchaser, the seller should communicate the
society/governing body of the building of one's intention to sell to a
specific purchaser and obtaining their No Objection Certificate (NOC) for the
same.
After obtaining the NOC, the owner can proceed with the legal documentation
and subsequent registration with the Sub-registrar of assurances under the
provisions of the Indian Registration Act. More Continued on.......
Property
Selling & Real Estate Selling Tips In India
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