Are you selling your property?

You want to sell at the best price, in reasonable time. To do that, it is fundamental to put your property on the market at the right price (based on recent sales and current demand). Be demanding, expect explanations for the prices you are given – and remember that the prices you see on the internet or in the shop windows do not always reflect the reality of the selling prices.

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Selling a property is a serious business, more and more complex and often the most important financial transaction of your life. It must be treated seriously, be extremely demanding of the services offered. This is significant to you.

5AØUT Real Estate walks by your side and serves your interests.

All technical elements must be checked and validated before any agreement with the purchaser, as any subsequent information could weaken the sale or renegotiate it down.

It is essential that all your obligatory technical diagnostics (Carrez, lead, asbestos, termites, DPE, electrical diagnostics, ERNT) are done before the sale.

The legal and technical files of the property are done upstream and must be worked out with your realtor (surface annexation, creating openings, touching foundation walls, being in line with condominium regulation…). Since the ALUR law, we can also get in touch with your legal advisor/ notary to prepare the file in order not to waste time when accepting a coming offer (recovery of modifications to EDD, pre-dated…)

We will provide you with the recap of all the documents and administrative process.

You only have one chance to make a good first impression. Getting the right visuals is essential: your future buyer must be able to project him or herself in his or her life investment.

To do this, you must know the selling points of your property, understand its environment so that the buyer will see them too.

Communication strategies will be established with 5AØUT Real Estate, according to your objectives and your constraints.

Depending on the property, the market, the time of year… the right strategy can be very different. It can involve only the agency client lists, without any advertising, to a full-on campaign on realtor boards, daily and weekly newspapers and international websites.

It is a key moment that will allow the buyer to project himself into the property A few words of advice:

• A clean, neat apartment, as neutral as possible interior decoration.
• No owners present. This really allows the future buyer to see themselves in the home and to express their opinions and true feel (the presence of owners may in some cases be relevant when revisiting and once buyers have shown interest)

We do not claim to have all the technical or legal answers on location, it will be done later.

An offer to purchase must be formalized in writing and include the amount, the conditions of the financing, a deadline and the terms of sale and any conditions required.

Too often, the seller only focuses on the amount, without paying attention to the financing or the conditions required more or less explicitly by the purchaser.

It is our job to get all this information and to test the buyer’s motivation in order to ensure the offer will succeed.

Nearly 2/3 of offers made between individuals lead to a retraction, either before the signature, or within 7 days after the sale, or, much more seriously, several months later and failing to fulfill the conditions precedent.

Acceptance of an offer to purchase must also be done in writing by all parties. It must include the net selling price, agency fees and terms of sale required by the sellers (deadlines).

From experience, here are a few things to keep in mind:

• First offers are usually the best.
• The seller must counter-offer on all offers, even low ones, in order not to halt the negotiation. It may sometimes take several weeks, even months, to come to an agreement.
• Some realtors prefer not to relay all offers in order to preserve a current negotiation. But for us, transparency is essential and any offer received is immediately transmitted to the seller to decide together the best decision to take

A formal acceptance obliges the seller to go through with the transaction. But, the purchaser can retract as long as the act is not signed and during the legal retraction period.

Once the offer has been accepted, the agency contacts your legal advisor in order to prepare the preliminary-contract, or promise of sale. All information about the property and co-property are also exchanged.

As a result of the provisions of the ALUR law and the obligation to provide few information as of the preliminary contract (such as all the amendments to the co-ownership regulation), the period for signing has been extended from 15 days to 1 month. Hence the importance for the seller to have prepared the file upstream with his realtor and his notary to speed up the process.

Once the pre-contract is signed the seller is committed, but the buyer has 7 days to change his mind without penalty. The buyer also can retract if he does not meet the suspensive conditions (for example, if the buyer doesn’t get his loan, the seller will be able to recuperate the deposit – usually 5%).

The time between the signature of the pre-contract and the closing is usually 3 months. This is a time necessary for the suspensive conditions to be met, (planning, obtaining a loan…) but can be accelerated or delayed in case by agreement between the parties.

During closing, the buyer pays the rest of the moneys owed (95%). Agency fees are paid.