Since residential properties are by far the most common objects of sale in the real estate business, getting to know the essentials of selling or purchasing them is key in order to achieve the preferred outcome for the sale or acquisition. This page will offer several tips and tricks for both sellers and buyers, when dealing with residential properties, allowing those who wish to learn more, the ability to perfect their skills.
- Sellers: in order to maximize the selling potential of any residential property, all sellers must make use of all the available elements that characterize not only the property, but also the location and environment where that respective property is found. This means that the location in itself can play a significant role in the whole sale, since all the characteristics of the environment, the neighborhood, or the area can add up and make for up to almost half of the actual selling value. It is well-known that in the case of residential properties, almost every time, the value is being set by the location and in a lesser degree, by the actual characteristics of the property itself, such as owner history, building age, etc. Making the most out of the available elements and using them in order to increase the value of the property is one of the soundest strategies that sellers can adhere to;
- Buyers: just like the sellers, buyers need to be extra careful at all the details that are making up the property’s information chart. Special attention needs to be offered to the age of the buildings currently located on the property, the past owner history, as well as if there is a record of hazardous or unwanted incidents in the neighborhood. All these factors alone can constitute the basis for a negotiation, or even for a substantial price drop.