We have created a practical and effective guide to help owners in El Salvador interested in selling their real estate.
We have created a practical and effective guide to help owners in El Salvador interested in selling their real estate.
Marco Puerta shares with us the experiences he has lived as an owner trying to sell his real estate in El Salvador.
Some of his strategies worked very well for him, others not so much and prevented him from closing some businesses... he even had to sell an apartment below the price previously agreed upon with the buyer. Has something similar happened to you?
Analyzing the market in recent years we have noticed that many owners set the sale or rental prices of their properties based on: sentimental value, references from nearby properties or recommendations from the same family.
In other cases we notice that they do not have all the legal documents and solvencies of the property ready or in force, which makes it difficult for the property to be sold in the shortest possible time. This situation usually generates mistrust in potential customers.
Due to these situations, we decided to prepare a list of important steps, specifically for owners, that must be known and taken into account before starting the process of selling the property.
Reverse the tables for a moment and think that you are the interested buyer of the property. Validate if it meets the basic maintenance and operation requirements that generate enough confidence to make a purchase decision. If there are basic aspects to improve such as: paint, lighting, bathrooms, among others, consider making a minimum investment in remodeling.
Reverse the roles for a moment and think that you are the buyer interested in the property, and validate if it meets the basic maintenance and operation requirements that generate enough confidence for you to make a purchase decision on it. If there are basic aspects to improve such as paint, lighting, bathrooms, among others, consider making a minimum investment in remodeling.
You must carry out an appraisal with an expert certified by the Superintendence of the Financial System, who delivers a complete report of your property, technical aspects and the market price.
Select a real estate agency that offers you a clear proposal of its services and that has a professional team with experience in marketing properties similar to yours, establishing an exclusivity agreement to guarantee a high level of service and commitment. Finally, define the percentage of fees that will be canceled when the sale of your property is closed.
Architectural photographs of the property should be taken, ideally in horizontal format, which can be taken by a professional in the field or by a person with basic knowledge and a very good quality smartphone on their camera. As well, a 30-60 second video tour will give potential customers a great impression of your property, and allow you to better filter those who decide to visit.
Considering the appraisal and the professional advice of the real estate agency that you have hired, they must establish the ideal sale price with which your property will go on the market.
Establish the visiting hours for your property, as well as define who will be the person in charge who will be in contact with the real estate agency to coordinate and report potential clients who will be interested in visiting the property.
Collect all the documentation of your property (Deeds, extracted certification, municipal solvencies, plans, etc.) and your documents as owner (DUI, NIT, tax solvency) so that you are ready with these aspects and can provide them to your lawyer at the time of formalizing the sale.
Establish together with the real estate agency who will be the ideal lawyer who will provide you with all the support in the marketing process and help you to safely and efficiently finalize the sale of your property.
When you have a formal purchase agreement on your property, it is important that the money you receive is ideally by means of a certified check from a local bank that must be in your name and, together with the copy of the deed of sale, you can deposit it in your bank account without any inconvenience, and thus dispose of the funds safely.
If you have been satisfied with all the service that the real estate agency has provided you, you can recommend them to your family or friends who are interested in selling a property and so they also receive a professional service.
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Porta Real Estate Boutique
Office: Plaza San Benito, Local 2-16, Calle La Reforma, Col. San Benito, San Salvador, El Salvador
Porta Real Estate Boutique
Office: Plaza San Benito, Local 2-16, Calle La Reforma, Col. San Benito, San Salvador, El Salvador
