Preparation is key to a smooth property transaction.
Deciding to sell your property takes a lot more than sticking a price tag on it, calling a real estate advisor and sitting back to wait for a buyer. Oh no. There is so much more that you will need to do to put yourself in the position of being prepared for that upcoming offer.The first thing I always recommend (and yes, I’ve been known to get pushy about this :), is to contact your attorney immediately. It is extremely important to know where you stand on your property and corporation taxes and to know if you have a property tax exoneration in place . Give your attorney a call and let them know that you have your house, condo or lot on the market and what price you are asking. They will be able to let you know what your tax obligations and closing costs will be when you sell your property. Also, since you will need your attorney’s representation in the sales transaction, it is a good idea to communicate with them what you are up to so when they get the introduction from your real estate representative they too are prepared to move forward. And, to state the obvious, knowing what your tax and closing obligations will be is very helpful when determining the price of your property.
If you know what these obligations will cost, you will be well prepared to respond quickly to an offer. The last thing any seller wants is to put off a potential buyer by taking days or even a week to respond to an offer, or worse, accepting an offer and later finding that your tax bill is larger than you thought. Being prepared with this knowledge now will eliminate future frustration.
Once you get the monetary details in place, it’s time to focus on the property itself. Let’s call it ‘curb appeal.’ Although it can be easy to fall into the mind-set that you are not going to put any more effort or improvements into the property, this is the time to do just that. Take the time to touch-up that old paint, adjust those crooked drawers and cabinets. Clean out the clutter, clean out those closets and tidy up the patio, deposits, car-ports and tend to those little things in the garden that we all seem to let slide. With some effort and elbow grease your property will be more appealing to potential buyers. Unless you want buyers to refer to your property as a ‘fixer upper’ take the time to make it presentable! And please, don’t be offended when your agent asks you to vacate the property during a showing…most buyers feel more free to make comments and ask questions pertinent to the property when the owner is not within ear-shot.
The Pacific beach area and Panama as a whole are hot, hot, hot in the news these days and we expect the trend to continue. Happy selling!!
Written by Kaye Ashbridge of Concept Panama