How to sell a property?
You have inherited a house; the piece of land you bought for the children at the time has been left in place; you are thinking of living a bit bigger or smaller. But then you first have to get your house sold. How can you best deal with that?
Selling yourself or using a real estate agent or a civil-law notary? Sell publicly or privately?
In the case of public sale, led by the notary, verbal commands are given on the property or land.
Whoever offers the highest is the buyer. If the seller finds the last bid too low, he can ‘withhold’ the good. A voluntary public auction can take place in one or two sitting days. If the expected price is not offered, an additional sitting day may be organised. There are, however, a number of other disadvantages:
In the case of a public sale, there must be two possessed potential buyers who compete against each other if the sales result is to be favourable, while in the case of a private sale, it is already possible to achieve a good sale with one potential buyer.
Sellers run the risk of having to bear the costs of an unrealised public sale.
Buyers – often double earners – must be prepared (both) to take a day’s leave in order to attend an uncertain public sale.
Buyers must also be able to pay the (extra) costs associated with a public sale within five days. As a result of these disadvantages, barely 6% of homes and 4% of building land are sold publicly.
In case of a private sale, you can sell yourself. Until after the Second World War, it was customary for the seller either to sell his property himself, and then to go to the notary with his buyer, or to engage the notary to sell the property publicly.
Selling oneself wasn’t that complicated until a few decades ago, because there were not all those laws and decrees that could possibly encumber the property or make the transaction more difficult.
The fact that this has changed can be seen from the abundance of laws and decrees, which have an impact on the sale of real estate, so that it becomes a precarious undertaking for private individuals to try to sell their real estate themselves. Any ignorance or error will be severely punished.
Besides selling yourself, you can also call on a professional… In the latter case, you run no risks.
The person skilled in the art can be the notary, who must still be called in to execute the deed.
The activity of commercial real estate mediation is often incompatible with the traditional role of neutrality and impartiality inherent in the authoritative function of the notary’s public office.
Moreover, real estate mediation not only requires legal and fiscal knowledge, but also requires technical training in construction and, above all, commercial construction with a high availability of guidance and information from the prospective buyer.
That is why the buyer now makes more frequent use of a real estate agent. On the one hand, this has to do with the growing real estate market, and on the other hand with the demand from consumers, who are becoming more aware, to have someone alongside them who wants to look after their interests in a responsible but commercial way. Especially after the legal recognition of the profession of real estate agent, and the high conditions of entry to the profession, real estate agents have opened their offices in every city or municipality.
High demands are placed on the new generation of real estate agents: in order to be able to establish themselves now, they must have specific diplomas from a university of applied sciences or university and must complete a one-year internship. In addition, there is strict supervision from our San Antonio Real Estate Brokers who can sell house fast San Antonio, that every rogue real estate agent works inexorably outdoors.