Life for most people has become so fast-paced – rushing to make the most use of available time. The same can be true of the property market, too, with people needing to make a sale go through as soon as possible. Properties in Monaco can come under this bracket too.
One of the best tips to sell your house quickly is to enrol the services of a professional and experienced real estate agent. These agents are authorised to both rent and sell. So, if you have a property for sale in Monaco or a property to rent in Monaco, the expertise of a trained estate agent is essential. They will see to all the administrative work and be able to obtain the best price for your home. Through their vast experience, they can “spot” unlikely buyers and can help in the selection of a good reliable buyer.
Other suggestions for a quick sale are listed below:
First impression: The exterior of the house should be appealing to a buyer, with a pleasing landscape into which the property fits. Freshly painted doors, clean windows and a well-attended garden (if it is a detached property) will add to this appeal. This will also show the prospective buyer that the house has been well taken care of.
Not only does the exterior of the house need to be in good order. Any repair work should be completed so that all equipment is working efficiently and satisfactorily. The interior should be clean and clutter-free. Furniture can be moved around to provide more space, making the rooms look bigger. Additional, non-essential furniture can be stored away. Personal items should be removed so that the prospective buyer can have a neutral image to plan on designing/renovation.
The price should be competitive, and the right estate agent, with knowledge of the local market, can help with this. Be prepared for negotiations and the possible decrease in the asking price. As everyone is aware, property prices in Monaco rate amongst the highest in the world.
Transferable home warranty:
If an additional perk like a transferable home warranty is offered, then a prospective buyer is aware that the home is safeguarded, leading to a faster decision.
Type of accommodation:
The trend is changing, and many buyers are more selective, wanting newer and larger buildings with more amenities like swimming/infinity pools, garden space and car parking. Some are not interested in purchasing old buildings and then renovating or refurbishing them. However, due to space restrictions in Monaco, some buyers have no other alternative. With the planned reclamation of land from the sea, more buildings – apartments and villas – will be built, conforming to the current buyers’ tastes. Hence, the guidance of an experienced estate agent will help in showcasing your property to the maximum by dwelling on the USP (Unique Selling Proposition) of your home. This will attract prospective buyers to it.
Try and accommodate a home viewing according to the buyer’s request, even if it is not a convenient time for you. If a buyer wants to move in before you had planned, be flexible. However, do not give a prospective buyer the opportunity to withdraw because of needless delays. Ensure that everything is organised and keep all documentation ready and in order.
There are no restrictions on foreigners investing in property in Monaco. The safety and security within this tiny sovereign state is a big incentive. Many people want to make Monaco their main residence, rather than having just a holiday home there. The tax benefits with no capital gains tax, property tax or income tax provide another incentive for investors.
That is why the Monaco property market is predicted to keep doing well. The sales transaction process is usually straightforward, with the sales contract signed with a 10% deposit held with a public notary or estate agent before the property’s legal transfer. It is always advisable to have a lawyer study the contract before it is signed. Due to the simplicity of a sales transaction in Monaco, deals usually go through without much delay so, once the buyer is satisfied, it is possible to sell your house quickly!