Many people nowadays opt ‘for sale by owner’ method and learn how to privately sell your house to save thousands of dollars in real estate agent’s commission. Being a ‘for sale by owner’ seller can give you the certainty of saving up to 3% in agent’s commission and a chance to save 6% if the buyer is not being represented by a real estate agent. But if the buyer is being represented by an estate agent, you’ll have to pay their half of the commission. So even if you are a ‘for sale by owner’ seller who has complete knowledge about how to privately sell your house, you are likely to find yourself with a buyer’s estate agent.

Most sellers benefit from their agent’s access to Multiple Listing Services (MLS). Fortunately, We at Minus The Agent provide you with real estate services that can help you sell your property effectively without having to pay thousands of dollars in real estate agent’s fees. Minus The Agent puts you directly in touch with genuine buyers or tenants so that you can successfully sell or rent without the need of an agent. We buy houses. By listing your property on high-profile and high-visibility websites domain.com.au, realestate.com.au, etc., Minus The Agent gets your property and put it on the market in front of thousands of potential buyers. Minus The Agent also provides end-to-end support without and handy marketing tools so that the sellers have a smooth home selling process throughout.

Showcase like a professional agent
As a ‘for sale by owner’ seller who has learned how to privately sell your house on your own, you need to act like a professional real estate agent while showing the property to the potential buyers and their agents. Staging the house, preparing it for the sale, and making it sale-ready are the basic requirements from your side. But as an FSBO seller, you need to be on your best while showcasing your house to the potential buyer and their agent.

Make sure you have the knowledge and understanding about the structure, plumbing, electrical, safety & security systems, and HVAC systems of your property so that when the potential buyers or their agent ask you a question, you have just the right answer. Make sure you mention all the necessary details about the house to the visitors such as the new carpeting, or the fresh paint job, or any other major construction or repairs that took place recently.

Negotiate like a professional agent
In order to sell your house and make a hefty amount of money, you need to be objective. Yes, it’s your home and you have your memories in that house, but at the end of the day, it’s a financial asset. So, negotiate the pricing of the deal as much as you can but don’t push it too far that you scare the buyer off. Also, there are other things you can negotiate beyond price. This includes appliances, closing date, and closing costs.

Make sure you go through the purchase agreement written by the buyer’s agent carefully. Even though it’s an additional expense, hiring a lawyer who can assist you with the legal work can do wonders for you. Unless you are significantly experienced in selling a house, having a real estate lawyer by your side will provide you the peace of mind that you will need during the process. The lawyer will not only help you reviewing the contracts, evaluating complex mortgages or leases and complex offers, but will also tell you what things, by law, you need to disclose to potential buyers and help you formulate a disclosure agreement.

Close like a professional agent
The best option to prepare for closing costs is to consult a lender about the costs before you even start looking for a home to buy. This is known as a mortgage preapproval and can help you understand the various closing costs associated with the deal so that you can plan your funds accordingly. Closing costs are often higher than what most buyers initially assume they are. Budgeting for the down payment in addition to the closing costs is also recommended. The home buying process is quite lengthy which does give you a lot of time to arrange the closing cost funds but make sure you are prepared to pay them off before you make the offer for the home that you want to buy.

Our services enable the sellers and buyers to meet and speak to the best property experts in Cyprus property. We provide the best and the latest resources and technologies in the complicated real estate sector; along with these we also provide the best team of human experts. We have a very good base of customers and our customer always says that we provide the best, easiest and clearest property For Sale in Cyprus compared to other real estate sites in the entire world.

Following points should be kept in mind while selling Cyprus property:

Capital Gains

The department of income tax considers every property owned to be a proper asset. Any profit that a person earns by selling an asset attracts capital gains tax. If the property is held for less than 3 years then it falls under short term capital gains; where the rate charged is higher compared to long term capital gain tax; this long term capital gain is valid after 3 years of ownership. So a person has to keep in mind and calculate the tax according to it.

Duties

While selling property For Sale in Cyprus the price charged is usually very high; this is because it includes many duty charges like registration fees, stamp duty, brokerage, and many more duties. Due to this inclusion of extra charges the value of the property rises by a huge amount. The profit earned from the asset depends on the amount of time for which the property has been held; if the period is less then the profit generated will be low and if the period is more then the profit generated will be more. So the seller should keep in mind about setting the price so that all his or her expenses are covered after selling the house.

Wealth Tax

If the property For Sale in Cyprus is the second property of the owner then wealth tax will be applied to it. There is a particular percentage that is a charge on the total amount of the property as the wealth tax. If a person owns more amount of wealth in the form of assets then the wealth tax charged on it will also be more. The seller should calculate the approximate of this tax and not doing it can cause a huge amount of loss for him or her.

Prematurely Accepting an Offer for Cyprus property

The seller should be very patient before accepting any kind of offer from the buyer. It is suggested that the seller should not accept the first offer that he or she receives even though it is a decent offer; the person should wait to receive other offers as well and compare all of them to understand which one is more suitable. As the Cyprus property is fully exposed in the market so there is a high probability that the seller will receive many good offers; accepting the first offer will eliminate the chance of getting other offers which can be a better one compared to the first offer.