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It’s hard enough buying an overseas property, but that’s only the first step. You will want to sell your overseas home at some stage, for many reasons. You have gotten bored of living abroad and want to return home; there are many buyers interested in your overseas home and you need the money badly, or maybe, you have picked up a new interest.
In this article, we tell you how to sell overseas property free from stress. There’s no reason for the process of selling your property abroad to stress you out as long as you follow a few simple guidelines. Read on for more.
Get Your Finances and Paperwork in Order
First things first, get your finances and paperwork in order before you decide to do anything with the property. This means hiring a lawyer to have a look at your documentation. Is everything there where it should be? What about your finances? Have you saved enough for the marketing? Perhaps you will need some money to renovate the property as well. Go ahead with the sale only after you are completely satisfied with this.
Time the Purchase Well
There’s a time to sell the property. You should not sell it when the prices are falling and already very low. You should not sell with the local economy has bottomed out. The best time to sell is when prices are rising and risen so high that there is a risk of a property bubble. Remember the simple investment rule – buy low and sell high. Most people follow this rule in the reverse, which is why most people lose money on their investments, whether in property or in stocks.
Set the Right Price
Setting the right price makes all the difference. Set a price that is too high and you risk alienating the buyer. Set something that’s too cheap and you end up underselling the property. So find the right balance. This may not be an easy thing to do as the overseas property market is very inefficient. Talk to your agent before setting the price, he would have a better idea of it. That brings us to our next point.
Hire an Overseas Property Specialist
It is very important to hire a UK or Irish estate agent who specialises in buying and selling of overseas properties. The problem with hiring a local agent to sell your overseas home is that they are unlikely to have any contacts with the sort of people who will pay you good money for your overseas home – cash rich, high net worth buyers from emerging nations such as China, Russia, India, etc. So you want an overseas property specialist who excels at promoting your property in these markets.
Hire a Reputable Lawyer
Finding a good lawyer is just as important as hiring an agent who specialises in overseas properties. A lawyer checks your paperwork, handles the details related to the transaction, deals with the local bureaucracy, is knowledgeable about the property laws in the country and ensures you get the money in your bank.
Contact us for more great advice on selling your overseas property free from stress.