If you’re looking to sell your overseas property, you should know that the international property market is very inefficient, unregulated and arbitrary. There is no way to tell how quickly your property can get sold and if you will be able to sell it for the price that was originally set for it.
Your best chances are to hire an overseas property specialist – an Irish or UK estate agent who specialises in buying and selling overseas properties. They will help you sell your property to people who will pay you good money for it - cash buyers or wealthy individuals from emerging nations such as China or Russia.
It really makes sense to target cash buyers when trying to sell your overseas home as what you want is to sell the property quickly and have the money in your bank account as soon as possible. Do follow the tips to sell overseas property to cash buyers given here for more on this.
Tip #1: Get your paperwork in order
First things first – get your paperwork in order. You don’t want to do all the hard work and find out at the last minute that the property tax receipts are missing, or some other crucial file does not exist. Also, scan all documents and make them available in the electronic format, so that your buyers can access them whenever they want to, wherever they are.
Here are the basic documents you will need:
Registered title deed
Copies of utility bills
An official document that shows there are no liens or encumbrances on the property
Property tax receipts
An approved survey
Copies of property by-laws you’re selling within a development
The insurance policy document
Tip #2: Sell the Lifestyle
Selling an overseas property is all about promoting the lifestyle. The house itself is just a commodity. What you want to do is to sell the lifestyle of the place. For example, if you are selling a villa in Marbella, Spain, you should promote the property using words such as “Great Mediterranean Climate, Bright Sunshine for 300 days a Year, Amazing Food, Unspoiled Beaches, Sandy Dunes, Laid-back and Relaxed Lifestyle, Open and Diverse Culture, Friendly Locals – A Spanish Villa of Your Dreams”. Doesn’t it sound alluring? Remember – your buyer is interested in the lifestyle of Spain, or for that matter any place where your property is located. They are eager to reinvent themselves and want to find some adventure. So sell it to them.
Tip #3: Hire an Overseas Property Specialist
You should hire a UK or Irish estate agent who specialises in buying and selling of overseas properties as they have widespread contacts among cash buyers from emerging countries and know how to reach out to them. They have a widespread network in Europe, Asia and the Middle East and excel at online marketing. They don’t just promote your property using Google AdWords and Facebook Ads, but also on top Chinese social media sites such as WeChat. They make sure that you get a good price for the property and money in your bank account as soon as possible.
Contact us for more great advice on selling your overseas poperty.