Tips for Property Owners

Before preparing your property evaluate who will be your target market. What kind of person would be interested in buying or renting your property? Adjust and tailor the property to best suit the potential buyer and also take into consideration the cost of any renovations that you may do, spending too much on a low priced property may not be financially productive.

If you intend on renting the property find out what type of tenants are in the area. Families will require more rooms, larger kitchens and possibly garden space. Would it be worthwhile modifying the property to make more attractive to a particular group? If so calculate the cost of construction and compare to the rental value and see if it is feasible.

Potential buyers and tenants need to picture themselves living in the property. Try to provide them with a blank canvas by taking out as much clutter as possible. Ornaments, pictures, flower pots and other items should be kept to a bare minimum, only use neutral and un-intrusive decoration and furniture. De-personalize the property, remove family photos and any other items that may distract the buyer from visualizing their new home.

Any second had property will usually need some kind of renovation before putting on the market. It may be a case of minor touch ups on the pain work or re-tiling the kitchen. Paying attention to detail can make a huge difference in the general appearance, for example re-grouting bathroom tiles will brighten up and give nice clean look (bathrooms are a very important component of the property which is often overlooked).

Polish or replace handles, taps and faucets. Also check that all door handles and knobs are matching to give an appearance of uniformity. New toilet seats, fresh towels new crockery will help you achieve that brand new look. Ensure that upholstery, bed sheets and covers are clean and crisp. Replace dark heavy drapes with light curtains or blinds and make sure that each room has strategically placed lighting to give of just the right amount of ambient light.

Probably the single most important factor to take into consideration when selling or renting a house or condominium.  A dirty property will go nowhere, even a new building will be hard to move if it’s unclean. If possible, consider using the services of a professional cleaning company to blitz the property. Not only will they have the skills and experience to buff the property to a high standard but it will also allow you to have more time to take care of other things that will assists with the sale or lease of your home.

If you are unable to use a professional cleaning service do the best you can with the recourses that you have. Make a cleaning plan, make a check list of everything that needs cleaning taking note of every detail. Work from the top down and finish off with the outside and garden areas.

A property owner should always take some time to select the best agent or agents to market their asset.  Click on the link for more information on selecting a Real Estate Agent in Pattaya.

Obtaining an official valuation is a complex process. A professional Appraisal or Valuation company will be able to conduct a detailed report on the value of a property taking into consideration the value of the land and construction. This does come at a cost and is generally only done on large or commercial properties.

An agent will be able to provide a comparative price with regards to similar properties on the market and will generally know what a realistic price would be. Take a moment to compare your property to competing properties in the neighbourhood and consider adjusting the price to put you one step ahead.  

First impressions are crucial. The first 10 seconds will usual be the key moment when a subconscious decision is made, any dissuasions will be hard to come back from at this point. Ensure that the entrance is clean, tidy and outside lighting is working and adequate. Take care of any unpleasant odours and excessive noise. Remove any pets or potentially offensive items, nude paintings and statues can cause particular distress to some people.

Cigarette smoke is extremely off putting to non-smokers so refrain from smoking in a prepared property. Should the property have been lived in by a smoker try and get a non-smoker to check it out as a regular cigarette smoke loses the ability to smell the ambient tobacco odour.

If the space is available, try to leave the best parking space for the potential buyer. If possible, place them at the best angle to approach the property whilst giving them easy access to the property.

If the potential buyer/tenant is accompanied by an agent is usually best to let them conduct the viewing without the presence of the owner. Ideally the property owner should be out of the house completely. The agent will probably have a rapport with the buyer and they will feel more at ease whereas the presence of the owner may distract them from properly viewing the property.

This is where your agent (if you have one) will be working the hardest, keeping the deal alive will require constant communications. A buyer will always want to get some kind of good deal so always consider replying an offer with a counter offer.  

Take into consideration other factors such a furnishing and transfer fees when it comes to bargaining. If the buyer is serious about buying and the seller is serious about selling an agreement will always be achievable.