Poor time management reduces the selling price
It's a common phenomenon: owners present their property online with insufficient information, poor photos, and an inflated asking price. Anticipating high demand, they expect the property to sell itself in no time. So why waste time preparing for the sale? But real estate professionals know this: the property remains on the market for too long and ultimately sells for less than it's worth.
Family growth, separation, age, career change – when property owners sell their home, it's usually because their life circumstances have changed. This is rarely a stress-free time. Selling a property further complicates this phase. Often, things need to happen quickly, and few owners consider how much time it takes to gather the necessary documents, prepare the property for sale, and conduct viewings.
Where are the sales-related documents?
When a property is sold that the owner has lived in for a long time, the search for documents often begins. How long is the energy performance certificate valid for? Has the outstanding mortgage been removed from the land register? And where can I obtain documents if I can't find them or if they have expired? Gathering all the documents relevant to the sale or requesting them from offices and authorities takes time. For example, if the energy performance certificate is missing, a fine of up to €15,000 can be imposed.
Why does the property need to be prepared?
The same applies to preparing the property. Poor photos or insufficient information can quickly make a property listing appear unprofessional. Potential buyers' interest is then often limited. A property that is inadequately prepared for viewings also frequently deters many interested parties. Despite high demand and limited supply, property seekers don't buy just anything. After all, it's a significant sum of money and a roof over their heads, where ideally they want to live for the rest of their lives.
Do you have time to answer all inquiries and conduct viewings?
Managing potential buyers is usually particularly time-consuming. As soon as the property (with good photos and the most important information) is listed on the usual online portals, the phone and email inbox are constantly ringing. When are all the inquiries supposed to be answered and the viewings conducted? If, on top of that, the asking price was set too high without a professional valuation, many potential buyers will want to negotiate. Without a professional valuation, many sellers quickly run out of arguments to justify their asking price. At the same time, however, sellers have to check the creditworthiness of potential buyers. If the financing falls through, the marketing process starts all over again.
Prepare well and avoid mistakes
Therefore, take enough time to carefully plan the sale of your property, from valuation to the notary appointment and handover. If you lack the time or are unsure about everything you need to consider when selling a property, it's best to leave it to a local, reputable real estate agent. They will determine the value of your property, know which documents are relevant for the sale, handle inquiries and viewings, and ensure a quick, legally sound sale at a fair market price.
Don't have the time to sell your property? Contact us! We'll take care of it for you.
You can find more information here:
https://www.test.de/Immobilie-verkaufen-So-erzielen-Sie-einen-Top-Preis-5142446-0/
https://www.test.de/Kaufvertrag-Immobilien-Den-Notar-ordentlich-ausfragen-4427977-0/
Legal notice: This article does not constitute tax or legal advice for any specific case. Please consult a lawyer and/or tax advisor to clarify the facts of your individual situation.
Photo: © stillfx/Depositphotos.com
About the author
Harry Mohr
Real estate agent (Chamber of Industry and Commerce)Harry Mohr, author of this article
