Tips on selling a property

Property Guide with Vengai Madzima
When individuals buy properties, they are normally motivated by the price vis-a-vis what they are getting in return for their payment.
Most sellers are not conversant with market trends and tend to overprice their property in the hope that impulsive buyers will just snatch their property off the market or simply because of a biased opinion of their property’s worth.
Price guides are best when given by professional valuations than comparisons to a So and so who sold a similar property for so much.
These assumptions normally omit other variables that are considered when valuing a property.
An example would be that they might omit to consider location, state of roads, the size of property and many other factors.
There are things that I intend to highlight that would assist the estate agents in quickly selling your property that you could do once the idea of selling your property enters your mind. Firstly, ensure that the property has title deeds.
There have been a few unscrupulous sellers who in the past have sold one property to different buyers because the property is titled under a cession.
This has to a great extent tarnished the industry. Most buyers are wary of parting with their hard-earned money in cession properties, while title deeds make it easier to sell the property because buyers have more faith in them.
The state of repair of the property does not only make the selling easier, it also increases notably the value of the property.
Small things like plastering over cracks, ceilings and general painting of the inside and outside of the house, including fences and durawalls, are important.
This allows the potential buyer to see exactly how the house should look like.
It will save the agent from asking the potential buyer to visualise how it should be while at the same time arming the buyer with potential ammunition for negotiations.
It is trite in real estate management and sales that landscaping adds substantially to the general value and beauty of property.
Most buyers are attracted to the landscape of the property, state and design of the lawn, the number of trees and their layout.
A barren house is normally unbecoming, so a selection of different kinds of flowers, trees, indigenous or exotic normally portrays the picture that the property owner really cares for the property.
The potential seller should also invest in other extras on the property, paved driveways and lock-up garages are some of the common requirements by buyers.
Where the property offers double or triple lock-up garages, it gives it more impetus, as most buyers would normally have a minimum of two cars.
A borehole and or water tank gives an edge to the property against other properties within the same range. As long as we have intermittent water supply, properties with water tanks and boreholes will always have an advantage and are in a position to command more value.
It is worth investing in other extras like workers’ quarters, visitors’ cottage, swimming pool and tennis court.
The general security of a property cannot be ignored because it normally proves to be a deal maker or breaker.
There is no point in investing in all the latest extras if the potential buyer will not feel secure in the property. A wall and gate is a must.
Other security measures like electric fences, burglar bars, boom gates and alarms, radio-controlled or otherwise give the potential buyer the assurance that once he purchases the property, he will be able to fully enjoy his investment while retaining its full value.
In some locations it is advisable that potential sellers apply for a change of use because properties with commercial rights generally fetch more than properties without.
The attainment of commercial rights greatly increases the amount of rental income attainable
Lastly, where the potential seller intends to sell a property he does not personally reside in, or which is occupied by tenants, it is always best to serve them notice before he puts it on the open market.
In some cases tenants hinder potential buyers from viewing the property.
The owner cannot always guarantee the state of tidiness in the property whenever there is a viewing. Potential buyers abhor properties that have tenants with long leases, as they normally would have different plans for their new purchase.
l Vengai Madzima is a property consultant and analyst. He can be contacted on 0772468093 or via e-mail: [email protected]