Expert checklist for sectional title sellers
Category RealADVICE
When planning to sell a sectional title property such as an apartment or townhouse, there are several important steps for owners to take to ensure a successful and stress-free transaction.
So says Nelis Bezuidenhout, the principal of RealNet Townhouses and a sectional title specialist who facilitates dozens of sales a year. His top recommendations for sectional title sellers include the following:
- Before you list your property for sale, gather all relevant documentation, including the title deed, the sectional title plan, any building plans or approvals, the latest financial statements for the sectional title complex and the registered conduct rules. Your body corporate should also be able to provide you with copies of any safety or compliance certificates relating to the complex, and the insurance schedule.
- Ensure that all levies, fees and rates due by you are paid up to date, including any special levies. Then obtain a clearance certificate from the body corporate to confirm that there is nothing outstanding.
- Prepare your property for sale by making sure it is in good condition and well presented. You may need to undertake some minor repairs and upgrades, as well as some decluttering and spring-cleaning to ensure that it has maximum appeal for potential buyers.
- Appoint an estate agent with sectional title experience to develop an effective marketing plan for your property, including online listings and in-person viewings, and to assist you in negotiating the sale and monitoring the transaction through to registration of transfer.
- Determine the correct asking price with the help of your agent. It is vital to have a realistic understanding of the market value of your property, and a good agent will be able to provide you with up-to-date information about your local market dynamics as well as details of recent sales of comparable properties in your area.
Then once your property has been listed, he says, you need to be responsive to buyer interest and available as far as possible for viewings at convenient times. "When you receive an offer, you should also be prepared to work with your estate agent to negotiate the best possible price and terms for the sale.
"And finally, you should make sure you understand the legal process and steps that need to be completed before your buyer can occupy the property and ownership can be transferred."
Author: RealNet
