Private Sales: The Different Steps
Selling real estate between private parties is no small task, and professional guidance can make the process smoother. At Consultants Immobilier, we offer our expertise to simplify each step of the process.
From price estimation to the signing of the sale deed, we outline all the steps to follow for a successful sale.
Step 1: Price Estimation
Accurately estimating the price of your property is a crucial step for a successful sale. Overestimating may deter potential buyers, while underestimating could result in financial loss.
To properly evaluate your property, consider key characteristics such as living area, number of rooms, and geographical location. Do you have a secluded garden? A garage or a terrace? These elements can increase the value of your property.
Beyond technical features, also evaluate the condition of common areas and the required maintenance. Examine real estate listings, focusing on properties similar to yours. Want to increase your chances of closing the sale quickly? Consult professionals to obtain a precise real estate appraisal. Discover a wide selection ofParis real estate listings.
Step 2: Preparing Your Property
A clean and well-maintained home will undoubtedly attract potential buyers. Start with a thorough cleaning. Perform minor repairs and improvements that add value to your property: fix or replace door handles, maintain the heating system… These details can make all the difference.
The law also requires preparing technical diagnostic documents (DDT) to inform potential buyers about the condition of your property, such as:
- The Energy Performance Certificate (EPC)
- The lead paint inspection
- The Carrez law measurement
- The Risks and Pollution Status (ERP)
Step 3: Writing the Real Estate Ad
After setting the sale price, you can proceed to write your real estate ad. The goal is to convince potential buyers to visit your property.
Provide as much information as possible:
- The number of bedrooms and their square meterage
- The overall condition of your property
- Its orientation
- The floor level
- Whether there’s an elevator in the common areas
Give precise details about the location and neighborhood of your property. Be honest about its condition: any defects will be revealed during inspections, so it’s best to be transparent from the start.
You should also include photos in your ad. Make sure each photo is clear and well-framed.
Step 4: Preparing the Sale Dossier
Before organizing visits, be sure to prepare your sale dossier. It typically includes:
- The real estate diagnostics
- A description of your property
- The amount of the property tax on built properties
These documents are essential to inform buyers about your property and avoid any post-sale disputes.
Step 5: Organizing Visits
Organize visits during the day: potential buyers can better visualize the property and check its lighting. Choose time slots that are convenient for the buyers. During the visit, don’t hesitate to highlight your property’s strengths while remaining objective.
Ask potential buyers if they have questions, if the property meets their requirements, or if they would like to schedule another visit.
After visiting your property, potential buyers might offer a price below the asking price. This is the most delicate moment, so it’s best to be prepared with your arguments.
Step 6: Signing the Compromise and Final Sale Deed
Once the offer is accepted, the agreement is formalized through a sales compromise signed at the notary’s office. This document must contain the following information:
- The property price
- The signatures of both parties
- The name and first name of the seller and the future buyer
- The property description
- The expected date for the property’s sale
You can draw up the sales compromise between private parties. This is known as a private agreement. However, it is advisable to work with a real estate professional. The sale deed, on the other hand, must be drafted by a notary.
Between the signing of the compromise and the final sale deed, expect about three months. During this time, the notary will carry out various administrative procedures to finalize the authentic sale deed. Private sales require careful preparation. To avoid any issues, make sure to follow these steps carefully.