Time Management – Once you have found a buyer and you both have agreed to the selling of your property the selling process will be started.
Marketing your Property for Sale – Market your property using various media methods to better find a buyer.
Making an Impression – To showcase your property to prospective buyers, you must keep your property in good shape as a photograph can be the difference of not receiving any offers and selling your property.
Pricing – Know what other similar properties are being sold for in the market and set a realistic price to keep general buyers interested.
Viewing Flexibility – Once you have decided to sell your property, ensure you have the time for prospective buyers who wish to view your property, so as to speed up the selling process.
Document Organisation – Prepare the paperwork; Sales & Purchase Agreement, Title Deed, Floor Plans and Location Map.
Mortgage Payment – You will require a Liability Letter from the bank that you have mortgaged the property with and once you have found a buyer, their bank will arrange to pay off your mortgage. You will also be required to sign some documents to allow your bank to accept the settlement and to release the properties documents once mortgage is settled. Your bank will issue the clearance documentation while the buyers’ bank pays off the mortgage.
Ownership Transfer – You must submit the NOC copy to the buyers’ bank who will then prepare final documents for property transfer. The process will take 2-3 working days. The parties involved, you, the buyer, their bank, agent, mortgage consultant will then need to meet to initiate the transfer.
Final Step – The buyer’s bank will issue a guarantee letter, and you will receive the cheque for any additional payment a week later. The buyer’s contribution will be paid by managers cheque to you.
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