Emergency sale: what owners need to know

Among the most common reasons for a forced sale are bankruptcy, unemployment, or divorce. Sometimes, a forced sale is unavoidable. However, forced sales often occur under enormous time pressure and carry the risk of properties being sold below market value due to the haste.

When a forced sale is imminent, owners must sell a property as quickly as possible, ideally without incurring losses. An additional risk is that this can even lead to a forced auction. This measure is taken when all attempts to prevent the auction have failed. It should be avoided if possible, as auctioned properties typically fall into the hands of bargain hunters.

It's best not to sell without a professional

Should you find yourself in the unfortunate situation of having to make a forced sale, it's crucial to remain calm. It's also advisable not to handle the sale yourself, but rather to seek expert advice. This can save you a great deal of stress and trouble.

Anyone attempting a distress sale on their own risks receiving a price that is far too low. Private sellers also tend to skip important steps in the sales process, which in turn prolongs the entire procedure and results in further loss of time and money.

Careless mistakes during the real estate sale reduce the success

Important steps in the sales process, such as a professional valuation, should absolutely not be omitted, especially in a forced sale. Only by knowing the value of your property can you develop an appropriate pricing strategy. Furthermore, you should not underestimate the importance of having complete and readily available documentation. The absence of an energy performance certificate alone can result in a fine of up to €15,000.

The exposé

It also becomes difficult when sellers no longer have the time to create a comprehensive property listing that includes all the advantages and disadvantages. The property listing isn't just a minor detail in real estate sales; it's the property's calling card. If it's professionally designed, it will reach the right target audience from the outset. The photos should clearly show the room layout, and the text should provide all the essential information. A well-designed property listing can answer potential buyers' questions at a glance.

Professional real estate agents often negotiate higher prices

Especially when a property needs to be sold very quickly, potential buyers can exert pressure and ultimately negotiate the best price for themselves. However, even if you believe you are in a strong negotiating position, it won't help you if you can't justify why a certain price is fair for your property.

With a competent real estate agent by your side, you'll save yourself stress, hassle, and a great deal of time spent on extensive market research. Your local agent knows the market and the prices. They'll remove the biggest hurdles to selling your property and, as an expert, know which prices are realistic and which aren't. Ideally, they'll achieve a higher selling price than you expected.

Are you in a difficult situation and need to sell your property quickly and profitably? Contact us – we'd be happy to advise you. 

Notes

For the sake of readability, this text uses the generic masculine form. Female and other gender identities are explicitly included where relevant to the statement.

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.

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