We are selling an apartment: How long does it take to sell a property | Penize.cz
The timetable for the sale of real estate is difficult to make. It is certain that you will have to offer the property for some time before you find interested parties, then you will make comments and sign contracts, or wait for the buyer to arrange a loan, and finally your proposal for a deposit will lie at the cadastre for at least a month.
But no one can tell you exactly how long it will all take. And if he calculates, he does not guarantee. In any case, you only get the money at the very end. In the real estate series We are buying an apartment, I recommended that the buyer insist that the money for the property be kept in safe custody from the signing of the purchase contract until it is registered in the real estate register.
As a seller, you better not count on shortcuts, it is natural when a buyer wants to be sure that he will not lose his money.
Vladimír Zuzák
He has a successful career in finance and real estate. He worked at OVB, ING, Hypocentr Modré Pyramida and in the position of sales director and director of financial services in the development group Finep. Then he decided to start his own company, Home Institute, which offers buyer representation and investment apartments. He also recently became the new director of the Prague real estate agency Maxima. He has his own blog and regularly contributes to established servers about housing and finance.There is a difference between having a buyer and being sold
The current analysis of the Sreality server at the beginning of February showed that the average time for selling a studio apartment is 86 days. With the size of the apartment, it is gradually extended up to 121 days for 5+kk. But be careful – the data from Sreality tells more about the speed of finding an interested party than about the completed sale. This is because it is about the time for which the advertisement hung with them.
However, when the ad is downloaded from the real estate server, the reservation contract has usually only been signed. And the seller has to wait at least five more weeks before he gets the money (the processing of the mortgage loan can extend this time even more). And we forget that the withdrawal of the ad may mean that the owner has changed his mind, postponed or abandoned the sale.
The bigger the property, the longer the sale
Small apartments are always easier to sell than large ones, you can count on faster sales. At the moment, the greatest interest in the real estate market is for 2+kk apartments, on the other hand, the biggest problem is always with family houses - their time will come in the spring, when beautiful, green and blooming exteriors are photographed.
According to my experience, if you are lucky and ready, you can sell a smaller apartment in Prague usually in three to four months, you will need at least five to six months for a house. But the situation is variable in different regions - according to Sreality, the real estate market moves the fastest in Prague, surprisingly the slowest in the Karlovy Vary and Pilsen regions.
When you're pressed for time
The three most common reasons why you need to sell quickly
Top down
What increases the price of an apartment
What pushes the price of an apartment down
A condition for a quick sale is a realistic price
With size You can't do anything about the apartment or the location, but you can about the price. It should be realistic - market-oriented. It doesn't pay to have big eyes. – While you wait for a buyer to finally be found, the property loses its sale price every day it sits on the real estate server. If there is no interested party within the first week, you will have to lower the price.
Suspiciously fast or high buying interest will alert you that the price is too low. In order to properly evaluate the apartment, write down all its strengths and weaknesses and consider what pushes the price down and what up. Then find comparable properties in the same location, for example on Sreality (there you will see the offer prices) and/or other real estate websites, or use price maps that work with realized prices of properties sold over the last year. There is also an online property price estimate that works on the same principle.
In order to speed up the sale during the advertising phase, the same advice that I already gave in connection with how to increase the market price applies in the article
If you use attractive photos, a video tour and home staging without raising the price, you will naturally accelerate the sale. Be prepared, however, that an average of fifteen viewings await you before you finally reach an agreement with the person interested in buying.
The partner of the series is MAXIMA, a Prague real estate agency with a tradition of responsible and ethical approach to clients. It offers a wide range of facilities for the sale and rental of real estate: presentation and advertising, legal services and financing are provided by a professional team.
Signing contracts can take a week or even a month
And we get to the second phase - let's assume that we managed to find a buyer. There are a number of complications at this stage that may extend the sale far beyond the time horizon that Sreality is optimistic about.
First of all, there are complications on your side - for example, unexpectedly discovered legal defects. It may seem excessive to you, but encumbrances, mortgages and foreclosures, as well as unregistered additions or secondary buildings, are often as much a surprise for sellers as for buyers. Therefore, prevent unexpected complications with a legal inspection of the property.
Secondly, the buyer may have problems obtaining credit. If they snatch the property from your hands, you can probably choose an interested party who has his own financial resources and will not take out a mortgage. This can save several weeks.
And finally, there is the question of how quickly you will be able to prepare and submit the contract documentation. Sellers who have so far managed without a real estate agent often just start asking law firms for a purchase contract and may be surprised not only by the price of legal services, but also by the time delay. Therefore, start securing legal services in time, so that it is not you who is delaying the sale in the end.
Reality series on Peníze.cz
In the series We buy a flat, we advise how to recognize and buy a quality property, how to get a discount, how to buy as safely as possible or how to negotiate with the bank about a mortgage. We are also writing a special Investment apartment - because there is a difference between buying for yourself and buying for money.
The series, the sixth episode of which you are currently reading, views reality from the opposite perspective:
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