Saying goodbye will never be easy. Whether it's a person you love or the pet that kept you company all these years, it's hard to let them go! Heck, even parting with your property is no easy feat too! Not just emotionally, but the process of selling it isn't as simple as you might think it is. And it's the same here in Austria as it is in the rest of the world. If you'll ever sell your a property in Austria
, you might want to know these few tips. Trust that preparing a huge budget and conducting your own survey will be helpful in the process in more ways than one!
Brush Up on Your German
You probably think that brushing up on your German is more helpful if you're buying the property in Austria. After all, what if you deal with a foreign buyer and you both speak English? You don't need to learn the local language, right? Well, there's more to it than that! Sure, when you're selling real estate in Austria, you don't really need to speak and understand German, but boy does it help! You'll have a better understanding of the situation and you won't have to rely on your real estate agent
and your notary all that much.
Prepare A Huge Budget
Selling real estate in Austria comes with a few costs. You'll have to pay the capital gains tax, valuation costs, notary fees, commission for your real estate agent, and more. Even if you sell the place on your own
, you only lose one of these costs. You'll still have to deal with the rest. So before you even put your property in Austria for sale, make sure you have a budget to pay for everything. Don't just rely on the profit you'll earn from the sale. Especially since some of the costs have to be paid even before the transaction can take place!
Foreigners Should Consider Selling Through Real Estate
On the question of whether you should sell your place on your own or through real estate
, foreigners ought to go for the latter. Why? Because it's safer that way. This isn't to say that you won't ever be capable of carrying out such transactions on your own, but depending on various factors, you're better off hiring a real estate agent. As already mentioned, brushing up on your German is great for selling your property wisely. But if you're simply not fluent in the language, it may be better to have your agent do all the talking. You can also rely on their network in finding the right buyer for you!
Conduct Your Own Survey
When you deal with real estate in Austria, there are two kinds of surveys you'll need to get done. One is the valuation survey and the other is the structural survey. And while the buyer is free to arrange these, you'd do well to conduct them on your own too. Firstly, the valuation survey will help you discover the true value of the property. This will then help you set an initial asking price. Secondly, getting the structural survey done on your own will help you discover any major or minor problems on the property. And if you fix them up before the valuation survey, you might just end up with a higher value for the place!
Host Viewing Sessions
When you show off your property, It's not enough to show images and video clips on property listing websites. Buyers from different countries especially won't trust what they just see online. So the moment you put your property in Austria for sale, get ready to host viewing sessions. Set up a neat schedule for when they visit or organize parties for more than one buyer. This way, you can better prepare the place for when interested buyers want to check it out. Also, the fact that you're readily showing off the property means you're in for the long haul, which may entice the buyers even further!
Don't Hold Back in Negotiating The Price
Don't feel intimidated when you approach the negotiating table. Know that you have the upper hand since you're the seller. Sure, the buyer might think that you need the sale more than they do since you get to earn a lot of money and the like, but in the end, you're still the one with the property. You should have a lot of say when setting the final price since you also have to deal with a few costs along the way. And never, under any circumstance, accept a price that's far from the initial figure that you set. That is the result of a property valuation, after all!
If you don't sell your property in Austria wisely, you can easily fall on the short end of the deal. And you wouldn't want that, would you? Ensure that everything goes smoothly by following these helpful tips!