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With just a few months to go for 2017, we tell you what to expect if you’re looking to sell your property abroad. 2016 has been a tumultuous year so far, especially with the shock of the Brexit referendum.
The sterling has recovered some of the lost ground after falling against the Euro in the immediate aftermath of the June 23 vote, as of now, 1 Pound would fetch you 1.17 Euros. What does this means for you if you have a property abroad, say in Spain or France?
It means you will get more for selling your overseas property now, than you would have gotten before the Brexit vote. We have this guide to help sell property abroad that you might be relevant to your situation. So keep reading.
Set the Right Price
There is nothing more important than setting the right price when you’re trying to sell your property abroad. There will be a temptation to set a price that is much higher than what’s average for properties of your type, with the hope that you will get lucky and some Chinese multimillionaire will take it off your hands.
But that never happens – property investors from emerging countries like China and Russia are very smart and have all the tools at their disposal to know what the right price for an overseas property is. They cannot be fooled, and don’t even attempt to do so.
Set too high a price and your property will remain unsold. But that doesn’t mean you should undersell the property. Set something close to the average at which comparable properties in the neighbourhood are selling for.
Hire an Agent Who Specialises in Overseas Property
When you’re trying to sell a property abroad, say in Portugal or Italy, there is every reason why you should NOT hire a local agent. Local agents do not have contacts with wealthy property buyers from emerging nations such as China, Russia, India, Brazil, etc. They do not have the skills to negotiate with ultra rich foreign buyers.
What you should do instead is to hire a UK or Irish estate agent who specialises in buying or selling overseas properties. They have an extensive agent network that spans across Asia and Europe. They know how to pitch your property to wealthy individuals from abroad. They are skilled in online marketing, and know how to promote your property effectively.
Make Sure the Property Looks at Its Best
You only have one chance to make an impression, so do whatever is required to be done so that the property looks presentable. Have the kitchens and bathrooms renovated, the house painted, electrical work and plumbing done and the gardens spruced up. Make sure the property looks alluring. Then hire a professional photographer to take pictures of the property. Quality photographs can make all the difference as most overseas property investors take seconds to decide whether to buy a house or not.
Contact us for more advice on selling your property abroad.