10 keys to selling a used property

In Colombia, about 800 thousand properties are sold per year, of which a considerable number of these properties are used, according to calculations by the Colombian Federation of Real Estate Exchanges, Fedelonjas.

There is no doubt that real estate is a business that, knowing how to manage it, leaves good dividends, but as a transaction, it has its risks and to avoid them, the president of Fedelonjas, Maria Clara Tuque, makes the following recommendations when selling a home, office, warehouse, premises commercial or even rural property, and advises that you do these businesses through a real estate agency.

The union directive recommends that you require the real estate to follow the following general guidelines when selling a used property is:

1. Real estate brokerage

Define the scope of the real estate brokerage service according to your needs and the different options that the real estate offers you, including the value of the service and the necessary procedures.

2. Market study

The first thing you should do is establish the approximate value of the property. However, the best option is to contract an appraisal, through the same real estate agency or an accredited professional, so that you obtain the real price for which you can sell it.

3. Documents up to date

You must update the legal and tax documents of the property, that is, the Certificates of Tradition and Freedom, the proofs of payment of property taxes and contributions, the respective peace and security of taxes, contributions and administration fees. The latter, in the case of properties subject to the horizontal property regime.

4. Before marketing

In the event that liens are detected, such as liens or property limitations, you must clean them up before starting the commercialization of the property. In that same sense, you must proceed to make the pending payments.

5. Check the condition of the property

Make the necessary locative repairs. Without having to do major remodelling, you can improve the sale price of the property if the pertinent repairs or adjustments are made.

Some real estate agencies offer maintenance services and locative repairs, thereby saving time and paperwork.

6. Means of promotion

Recognized real estate companies have different mechanisms to offer real estate, in addition to the traditional on-site notices, they put at your disposal their own web pages, specialized portals such as Metrocuadrado.com, shared business systems and even mobile applications; means through which effectiveness in the publication of the property can be guaranteed.

7. Features

The advertising of the property must state its characteristics in terms of its conformation, location and advantages due to its proximity to commercial areas, access roads, etc. Generally, these features can be a major hook to sell you faster.

8. When appointments are scheduled:

To show the property, ensure that the place is tidy and that there are no objects out of place so that the buyer can focus on the characteristics of the property itself

9. Detailed information

The real estate agency must keep you informed regarding the calls or requests for information that it has received, as well as the appointments and scheduled visits, the comments that it has received from the interested parties and the commercial offers received.

10. One company at a time

Real estate agents must accompany you throughout the post-negotiation process, including the deed, registration and subsequent delivery.