10 Steps of the Sales Process of your Property
Selling a home takes time, knowledge, and negotiating skills. It isn’t quite as simple as sticking up a ‘for sale’ sign and waiting for the buyers to come to you. There are many practical and legal pitfalls to take into account when you decide to sell your home and it requires a good preparation to get the best price. What to expect and what is the best selling strategy?
- 1. Assessment of your home
One of our registered estate agents will value your property and will explain the best sales plan that covers proper pricing, the right sales strategy and an effective internet marketing campaign. During this inspection, one of our estate agents will measure your property. It is crucial to understand how to calculate the square meters. For most people, the gross floor area of a home is what they’re thinking when they hear “square meters”. But what to leave in and what to take out? In The Netherlands there is a standard developed for measuring a residential property. A registered estate agent can measure your home according to these rules and can prevent you for misreporting the square meters, along with all problems.
- 2. Setting the right asking price
The estate agent will also take into account its unique features, the area and market conditions to come up with an asking price. Properties in your street may look the same and appear to offer the same accommodation but each will have its own interior style and features which can significantly affect the sale price. Our real estate agent will provide you with a market analysis, detailing homes similar to yours and what they’ve recently sold for.
You don’t want to overprice the house because you will lose the freshness of the home’s appeal. On the other hand, don’t worry about pricing it too low because homes priced below the market value, often receive multiple offers, which drive up the price to market.
If you agree to the sales plan and the pricing you will sign the agreement with our company. This legally binding contract details the start-up costs, the commission, the estimated sale price and more.
- 3. Photo shoot
Almost hundred percent of the homebuyers use the internet as the first step of their house search. Once on site, curb appeal must draw their attention. That means that good listing photos are a critical factor. But how to make a fantastic first impression on buyers? Make your home stand out from the competition with home staging. Staging is all about dressing the house for sale. Whether your property needs a full makeover or just some tweaking, the goal is to maximise its perceived value and achieve the highest possible sale price for you. Listings with professional photos sell for more money and sell quicker. We do not only arrange a professional photo shoot but also a video of your property. With this combination you will be found much better on the listing website Funda.
- 4. Floorplan & Brochure
Floor plans are an essential component of the sales process as well. They take the property to the next level, giving people a better understanding of the scale and potential of the spaces.
Digital brochures are incredibly useful for potential buyers. They can be used on websites and social media and allow potential buyers the chance to view all the information of the property on their computer, or mobile device.
- 5. List Your Property
To maximize the potential reach we will list your property on all major websites like Funda, VBO and our own website. We will also be using designated social media as Facebook, Linkedin, Twitter etc. In addition to the listing we will place a “for sale” sign on your property.
- 6. Viewings
Now that the house is looking at its best, it is time for you to prepare for the viewings. One of our estate agents will attend all the viewings so you will have the best home representation. After the viewing has taken place, the estate agent will give you an update how the viewing went and can give you useful feedback. We are strong believers of individual viewings instead of “Open Houses”. This way your property will look more spacious and we can inform the potential buyers in a much better way.
- 7. Receiving an offer
As soon as an offer has been received we will notify you. Any special conditions of the offer will be stated in this offer as well. This is where estate agents can really add value: negotiating with prospective buyers. Our estate agents are well equipped to manage the negotiation on your behalf and will make sure you get the best deal possible. A tough negotiator can make a big difference.
- 8. Preliminary Contract of Sale
Once the offer has been accepted by the seller, the preliminary contract will be drafted by either the notary (Amsterdam) or the selling estate agent. This contract is legally binding for all parties to the same extent as the transfer deed, which will be concluded on the transfer date. It must contain all essential terms of the sale, including full details of the property, details of the buyer and the seller, the purchase price, the modalities of payment and conditional clauses. After signing this contract the seller and buyer are legally committed to the deal.
- 9. Cooling off period
The cooling off period of 3 days can only be used by the purchaser to ensure that the decision to purchase has been carefully considered. Although a purchaser is entitled to withdraw from a contract within the cooling off period, the vendor is bound upon entering into a contract with the purchaser. Once the cooling off period has expired, the purchaser is bound to the contract. If the buyer will need a mortgage a valuator will view your home on behalf of the mortgage bank and will value the property. When the mortgage is approved, a written bank guarantee will be given within the agreed time. Or if the buyer doesn’t need a mortgage, the deposit (10% of the purchase price) will be transferred to the escrow bank account of the notary. Your property is SOLD.
- 10. Transfer day
It’s time to sign the deed of transfer and officially transfer ownership of the home to the buyer. The first step is a final walk-through, arranged just before the transfer of your property. Its primary purpose is to make certain that the property is in the same condition you agreed-upon during the purchase and we will make pictures of the meter readings.
The notary will prepare the transfer deed and the statement of completion and both parties will then be asked to sign this deed at his office. Your estate agent will accompany you at the signing. After the signing you will hand over the keys to the buyer and the sale is completed. Congratulations!
Our team of highly motivated realtors will take care of the entire sales process and will separate the “lookers” from qualified buyers. Let us help you.