Emergency sale: what owners must consider
Difficult times call for difficult measures. Owners who find themselves in an emergency situation have the option of disposing of their property via compulsory auction or selling it as quickly as possible. An emergency sale is the better option, however. What must owners consider to ensure that their property isn’t sold for less than its market value?
Regardless of whether it’s sudden unemployment or another private situation that necessitates the emergency sale of one’s home – one thing that cannot be denied is that time pressure is always a big factor. A property expert can provide owners with sound advice and assist them as quickly as possible.
Pension-generation via a property sale or a traditional property sale
Owners can sell their house and move into a new home, or sell the property and yet continue to live in it. A property sale with right of residence entered in the Land Register represents a special form of property sale. If the option of pension-generation via a property sale seems suitable in the respective emergency situation, the owner can choose between different models with various pay-out options and periods for the right of residence.
Preparing for the sale
A property assessment is crucial to selling a property. Without establishing the value of the property, it is impossible to set a sensible price strategy and thus determine a market-appropriate asking price. This too has to be carried out faster with an emergency sale than under normal circumstances. Once the asking price has been established, all the necessary documents must be compiled and the exposé drawn up. The necessary documents include the energy certificate, the Land Register excerpt and the house insurance certificate. Professional photographs and videos are recommended for an appealing exposé and effective marketing. The owners might also have to carry out minor repairs.
If possible, it is advisable not to inform the potential buyer that this is an emergency sale, as they are then likely to try and get a reduced price. Yet deciding on a buyer also cannot take too long. A private sale can lead to a sale price below the actual market value of the property. Owners who are forced to sell up quickly should therefore seek professional assistance. A professional estate agent has the necessary expertise and negotiating skill to quickly find a buyer with the right purchasing power and the necessary credit. The estate agent will also take care of the marketing, sale and subsequent notary appointment discreetly and quickly so that anxious, time-poor owners can enter the sales process quickly and free from stress. A good estate agent will also be able to quickly and professionally implement marketing methods such as 360-degree tours and home-staging that show off the property to optimal effect.
Do you need support in selling your property quickly and discreetly? Then get in touch with us! We are here for you.
Find out more here:
https://de.wikipedia.org/wiki/Notverkauf
https://de.wikipedia.org/wiki/Zwangsversteigerung
https://www.handelsblatt.com/finanzen/immobilien/immobilienverrentung-mit-dem-eigenheim-das-einkommen-aufbessern/24577956.html?ticket=ST-7854216-5hV79ODe1XZPRBFmETUm-ap1
https://www.finanztip.de/haus-verkaufen/
Note: In this text, the generic masculine is used for better readability. Feminine and other gender identities are explicitly included to the extent necessary for the statement.
Disclaimer: This article does not constitute tax or legal advice in individual cases. Please consult a solicitor and/or accountant to clarify the circumstances of your specific case.
