by FSBO 
We tell you what to expect if you’re looking to sell your property abroad. The sterling has recovered some of the lost ground after falling against the Euro in the immediate aftermath of the vote, as of now, 1 Pound would fetch you 1.17 Euros. What does this means for you if you have a property abroad, say in Spain or France?
Selling property abroad can be a complex and time-consuming process, but it is possible to do it successfully with the right planning and preparation. Here are some tips on how to sell property abroad:
- Do your research. Before you even start marketing your property, it is important to do your research and understand the local real estate market. This includes understanding the current market conditions, the average selling price for similar properties, and the types of buyers who are active in the market. You can get this information from local real estate agents, online resources, or government websites.
- Hire a qualified real estate agent. A qualified real estate agent can be invaluable in helping you sell your property abroad. They will have the local knowledge and experience to market your property effectively and negotiate the best possible price. When choosing a real estate agent, be sure to interview several candidates and choose one who has experience selling properties in the area where your property is located.
- Prepare your property for sale. Before you list your property for sale, it is important to prepare it to make it look its best. This includes cleaning the property, decluttering, and making any necessary repairs. You may also want to stage the property to make it look more appealing to potential buyers.
- Market your property effectively. Once your property is ready for sale, you need to market it effectively. This includes listing it on online real estate websites, advertising in local newspapers and magazines, and networking with other real estate agents. You may also want to consider hiring a marketing firm to help you market your property.
- Negotiate the sale price. Once you have found a buyer, you will need to negotiate the sale price. This is where your real estate agent can be very helpful. They will be able to advise you on the best price to ask for and help you negotiate a fair price for both you and the buyer.
- Close the sale. Once the sale price has been agreed upon, you will need to close the sale. This involves signing all the necessary paperwork and transferring ownership of the property to the new buyer. Your real estate agent can help you with this process.
Selling property abroad can be a challenge, but it is possible to do it successfully with the right planning and preparation. By following these tips, you can increase your chances of selling your property quickly and for a fair price.
Here are some additional tips that may be helpful:
- Be prepared to answer questions about the property from potential buyers. This includes questions about the property’s location, condition, and features.
- Be willing to compromise on the sale price. This is especially important if you have been on the market for a long time and have not received any offers.
- Be patient. Selling property abroad can take time. Don’t get discouraged if you don’t sell your property right away. Keep marketing your property and eventually you will find a buyer.
If you are considering selling property abroad, it is important to seek professional advice from a real estate agent or other qualified professional. They can help you understand the local market and make sure that you are following all the necessary legal requirements.
It means you will get more for selling your overseas property now, than you would have gotten before the Brexit vote. We have this guide to help sell property abroad that you might be relevant to your situation. So keep reading.
Set the Right Price
There is nothing more important than setting the right price when you’re trying to sell your property abroad. There will be a temptation to set a price that is much higher than what’s average for properties of your type, with the hope that you will get lucky and some Chinese multimillionaire will take it off your hands.
But that never happens – property investors from emerging countries like China and Russia are very smart and have all the tools at their disposal to know what the right price for an overseas property is. They cannot be fooled, and don’t even attempt to do so.
Set too high a price and your property will remain unsold. But that doesn’t mean you should undersell the property. Set something close to the average at which comparable properties in the neighbourhood are selling for.
Hire an Agent Who Specialises in Overseas Property
When you’re trying to sell a property abroad, say in Portugal or Italy, there is every reason why you should NOT hire a local agent. Local agents do not have contacts with wealthy property buyers from emerging nations such as China, Russia, India, Brazil, etc. They do not have the skills to negotiate with ultra rich foreign buyers.
What you should do instead is to hire a UK or Irish estate agent who specialises in buying or selling overseas properties. They have an extensive agent network that spans across Asia and Europe. They know how to pitch your property to wealthy individuals from abroad. They are skilled in online marketing, and know how to promote your property effectively.
Make Sure the Property Looks at Its Best
You only have one chance to make an impression, so do whatever is required to be done so that the property looks presentable. Have the kitchens and bathrooms renovated, the house painted, electrical work and plumbing done and the gardens spruced up. Make sure the property looks alluring. Then hire a professional photographer to take pictures of the property. Quality photographs can make all the difference as most overseas property investors take seconds to decide whether to buy a house or not.
Contact us for more advice on selling your property abroad.
