How to sell an apartment while in another city - FAQ

In modern society, situations often occur when it is necessary to make a deal with the sale of an apartment remotely. This may be required if for some reason the owner is unable to visit government agencies at the location of the property to register the transaction. This begs the question - Is it possible to sell an apartment while in another cityif the seller does not have the opportunity to arrive at the location of the apartment or he is completely abroad.

About how to sell an apartment while in another city and what methods of selling real estate in this case exist, read in this article

1. How to sell an apartment in another city and how realistic is it to do it remotely 🏬

Trying to understand how realistic it is to sell an apartment while in another city, you should turn to legal practice. On the subject under discussion, it is quite extensive.

To sell an apartment, while in a city other than the location of the living space, you can use one of 2options:

1. Self sale suitable in cases where the owner has representative. It is he who deals with the main issues of the sale of the apartment in the absence of the owner. Also, this method is suitable when it remains only to conclude a contract to complete the transaction. In other cases, using this option is impractical, since for the sale it is necessary to show the apartment. Naturally, doing this from a distance is not easy.
2. Sale through specialized agencies. In this situation, professionals independently carry out all the actions necessary for the sale of an apartment, starting with the fact that they are looking for a buyer, ending with the fact that they complete the transaction. However, keep in mind that the agency receives a percentage of the cost of the apartment for its services. The size of the commission is established in the contract between the seller and the intermediary.

Now we will analyze the above methods in more detail. Each of them has its own advantages and limitations.

1.1. Self-sale of an apartment in another city

In order to engage in the sale of real estate in the event the owner is located in another city, it is necessary to decide who will represent his interests.

A person representing the interests of the seller will have to:

• show real estate to potential buyers;
• carry out other interactions with them;
• prepare a package of documents necessary for submission to the Rosreestr in order to re-register the apartment, if it is absent.

In this case, the owner must understand that the actions described above are connected with the most important documents and considerable money. Therefore, he must fully trust the one who will represent his interests. Most often, such relatives are close relatives.

The owner can independently advertise the property. To do this, publish ads on specialized sites in the Internet, in newspapers, on local television channels. Such actions can be carried out even when far from the place of sale.

It is important to take such announcements as seriously as possible:

• It’s worth adding photos of the apartment of the highest quality possible to them. They will help create a real idea among potential buyers about the layout, as well as the repair in the apartment.
• Of great importance is also a detailed description of the housing, as well as its location. Ultimately, this will reduce the number of useless contacts.

To sign a contract fixing a deal, a certain package of documents. Its composition is best clarified by the state authority where the registration will be carried out. At the same time, it is not necessary to visit this organization in advance, it is enough to study its website.

Experts recommend preparing documents in advance. If this is not done, there is a risk that the case will fail. In the absence of any document, not all buyers will agree to wait until it is prepared.

Important to remember: To conclude a real estate transaction without the presence of the owner, it is mandatory to draw up an appropriate power of attorney. Moreover, the choice of a trustee is of great importance.

In any case, the best solution would be the personal presence of the owner in the transaction. But the article of the Civil Code of the Russian Federation allows you to draw up a power of attorney only to sign the contract. In this case, the representative does not receive money for the apartment sold, they are transferred immediately to the owner’s account.

Advantage self selling is saving money, which is formed due to the absence of the need to pay for the services of the agency.

The main disadvantage lies in the difficulty of choosing a proxy, which will act exclusively in the interests of the seller of real estate. In addition, in this case, you will have to spend much more time concluding a transaction.

⚡ If it is possible to engage in the sale of your property in person, we recommend that you read this article, where we described in great detail how to sell an apartment quickly and profitably.

1.2. Contacting a specialized agency

Most often, in order to sell an apartment when finding an owner in another city, sellers resort to using the services of specialized agencies.

One can single out a number of advantages of this approach, which consist in the provision by the agency of the following services:

• quick search of buyers in a predetermined time;
• assistance in determining the adequate value of real estate, comparable with objects located in the immediate vicinity of the apartment for sale;
• without the participation of the owner, an advertisement of the sold real estate is organized, thereby reducing the time for sale;
• preparation of documents required for registration of the contract;
• organization of viewing the apartment by potential buyers;
• preparation of real estate for sale;
• independent transaction on the sale of the apartment.

To sell the apartment through the agency as efficient as possible, experts recommend that you adhere to the algorithm below.

Stage 1. The study of the cost of similar apartments

One side, a serious agency helps to establish an adequate price for an apartment for sale.

On the other hand, unscrupulous agents can purposefully lower the cost of real estate in order to accelerate the process of its implementation. Self-examination of market prices helps to avoid such fraud.

Stage 2. Agency selection

The speed with which an apartment is sold, its cost, and the literacy of a transaction depends on the right choice of agency. Therefore, this stage should be given as close attention as possible.

At the same time, experts recommend either prefer the most famous company, or use the advice of friends. It will also be useful to carefully study the reviews about the agency on the Internet.

Stage 3. Conclusion of the contract

Before signing a contract, you should carefully read it. In this case, the greatest attention should be paid to the following fundamental points:

• who will have the keys to the apartment;
• who will be involved in showing the property to potential buyers;
• How is the cost negotiated?
• how the future buyer is checked;
• in what form is the report on spent funds drawn up.

Interacting with the selected agency, the owner of the apartment can send him all the necessary documents by mail. However, in order to accelerate the transfer of information, you can pre-send electronically signed copies. Originals are also sent by mail or courier, but the agency will be able to act without waiting for them.

It should be understood that the seller can give the selected agency the right to independently collect the necessary documents. For this, the owner of the real estate together with the realtor should go to the notary public and draw up power of attorney.

However, before you put a signature on a document, it is important to check it for the absence of undue privileges for the realtor.

When the preparatory procedures are completed, the agency will begin to search for a buyer. Once it is found, the seller will only have to sign the contract and receive the money.

Despite the convenience of selling an apartment through an agency, this method also has disadvantages:

• One of the main problems is that such companies often underestimate the cost of housing in order to accelerate its implementation.
• If you make the wrong choice, you may run into incompetent employees who will not be able competently conduct a deal.

In this way, to sell an apartment, being far from it, is quite real. To do this, it is enough to compare the presented methods and choose the optimal one for yourself. To simplify our readers the comparison procedure, the main features of the considered methods are presented in the table below.

Table: “Advantages and disadvantages of selling an apartment while in another city” (independently and with the help of an agency).

We hope that Rich Pro magazine was able to give you all the answers to your questions. We wish you good luck and success in all your endeavors!

Watch the video: Selling an Apartment with Existing Tenants in NYC 2019. Hauseit (December 2024).