The 3 tips that will help you sell your house correctly

Surely, when you bought your house or apartment you did it with savings, care and dedication. For this reason, if you are about to sell them, we give you some tips to achieve a good closing.

According to the Federal Consumer Attorney’s Office (Profeco), there are five factors that determine the sale of a house or apartment and they are: price, form of payment, environment where you are, conditions of the property and owner.

Apart from giving importance to these aspects, there are three other tips that will help you sell your house. Here we tell you.

Have papers in order

Before bidding your home through a real estate portal, it is essential that you have certain documents in order and at hand. With this information you demonstrate the legal situation of your property and that it is free of encumbrance. In addition, you make the sales process more transparent.

At this stage it is important that you check the regime by which you purchased the property. In case it has been under a conjugal partnership, your partner must authorize the sale.

Once you verify that you have all the papers, you can take the next step: quote the price.

Give the right value to things

You are probably going to sell a house or apartment that has sentimental value to you. Maybe it’s about the heritage your parents created or the place where you saw your children grow up.

These factors influence when thinking about the final price of the property, but do not determine it.

In addition, in times of pandemic by coronavirus (COVID19) and quarantine, we must analyze things well. Uncertainty could lead you to make hasty decisions and end up selling above or below real value.

Ideally, avoid falling into these situations and reach a good agreement with the buyer.

Leonardo González, Real Estate analyst at Propiedades.com, advises that it is best to offer your property at the trending price in the area. Also, do not forget to consider the segment and city where the property is located.

How can you know this information? Consult Real Estate Market Reports (RMI). With them, in addition to knowing the average price of homes similar to yours, you will know the capital gain and other key market indicators such as Price to Rent or Time on Market.

The first tells you if it is more convenient to rent or buy in a certain area. The second is how long an offered property remained on the market.

For example, if your apartment is located in Naples, you should know the behavior of the area at the end of 2019. The average price of the area was 2.8 million pesos, according to the latest edition of the RMI of Propiedades.com.

In the case of San Rafael-Azcapotzalco, the average cost of the area was 3.9 million pesos. And in Nuevo Polanco it was 6.4 million pesos.

Turn to the experts

If it is the first time that you are going to do a negotiation of this type it is important that you approach a notary or real estate agent.

Profeco is very clear in mentioning a key point: you should not sign any document, private contract or promise of sale immediately. It is better that you have the prior advice of a notary.

«If there is a breach of contract, lack of payment or liquidity, the Office of the Attorney General will not intervene to resolve it because it is a matter between individuals,» he says on his website.

When you have already signed without the presence or advice of a notary, you will still have an opportunity to correct. The most recommended is to hire the services of a lawyer and file a lawsuit before the Superior Court of State Justice.

For this reason, when selling a house or apartment, a better option is to hire the services of a real estate agent.

This person, in addition to selling your property, will advise you on the behavior of the real estate market and legal aspects. However, it does involve paying a certain commission in case you get a buyer.

Leonardo González, real estate analyst at Propiedades.com details that, through this service you can know the context of your prospects.

For example, knowing your creditworthiness to speed up the procedures and payments in the transaction.

Now you know the three tips that you should consider to sell the house that you love so much. Good luck with your sales process!