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Selling your house? 7 tips for you

July 02, 2014 11:54 IST

Selling your house? 7 tips for you

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Rajiv Raj

Keep these points in mind before putting up a property for sale.

If you are considering putting up your property for sale there are a few things to keep in mind. Right now it is a buyers' market. So keep in mind that buyers have plenty of options. We have made it easy for you to sell your house by enlisting a few important points to keep in mind:

1. Don't ask for moon

Remember that your house is just one among the many houses on sale. You know what you paid for the house. If the rate in the market has gone below that you cannot expect a price more than that.

It is important to understand that your house is worth what the market is willing to pay you.

It is a good idea to talk to people. Get a few real estate agents to give you a fair idea on the worth of your house.

You may have a mortgage, but that does not affect the market price.

The author is a credit expert with 10 years of experience in personal finance and consumer banking industry and another 7 years in credit bureau sector. Rajiv was instrumental in setting up India's first credit bureau, Credit Information Bureau (India) Limited (CIBIL). He has also worked with Citibank, Canara Bank, HDFC Bank, IDBI Bank and Experian in various capacities.

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2. Market your flat well

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Take as many photos as possible. Post an advertisement on every possible website.

Get your friends and family to put up information of your plans to sell the house in their office notice boards. Put it up your society notice board.

You know never where your buyer is hiding.

3. Hire a real estate consultant

If you do not know, ask for reference from your friends. You could also consider hiring the established real estate consultants offering their services.

Unlike the popular belief they charge 1 per cent and proportionate service taxes for their services.

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4. Fix the broken things

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Imagine you walk into a house that you are considering moving in and you find a leaking tap, broken cupboard, dangling kitchen shelves and a wall hammered with nails.

Not an impressive visual right? Fix all those things, which need to be fixed.

5. Be practical

Don't get attached to a house emotionally. Like the saying goes, a house is made of bricks and home is made of hearts.

So understand the difference. Don't let your emotions affect your decisions.

6. Don't let a low offer affect you

If you do get an offer which is very low compared to your expectations, don't let it pull you down. Many a times the buyers, if they are serious, do come back with a higher offer.

7. Don't let something small affect your sale

Don't fuss over a small detail. If the seller wants you to fix a particular thing for your house do it. Don't let such a small detail affect the deal.


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