5 Ways to pick the best time to sell your property

Handing Over Cash For House Keys in Front of Beautiful New Home.
Handing Over Cash For House Keys in Front of Beautiful New Home.

Picking the right time to sell your property can make a difference between achieving the price you want or in some cases even more. Choose a more sluggish part of the property cycle and you may be left with little choice other than to accept a figure below what you had anticipated.
Some sellers are not in a fortunate position to choose when to sell if they need to offload their asset in a hurry, but those who are should consider the following.

1. Public holidays

Typically, around public holidays things slow down. There are fewer people around so the numbers of people looking for a property to buy reduces. Speaking with your local real estate agent will help determine when these quieter times are but remember you want to avoid your property being on the market for too long as prospective purchasers will wonder what is wrong with it and why it has not shifted.

2. Market conditions

Use your local agent as your eyes and ears on the market to find out at what point of the cycle the market is at. If there is a glut of properties then it is likely the offers will be agreed below asking price. However, if demand outstrips supply then this is the perfect time to sell, and an over asking price offer could even be agreed if more than one buyer puts an offer forward.

3. Competition

Are there any other units in your building for sale? If the answer is yes, then this could work both ways by giving buyers more than one unit will give them the opportunity to play each one off against each other. However, if your property is the better option and is priced right, then this will steer them away from the competition.

4. Surrounding environment

You are unable to control what is going on outside your home such as the building of a new condominium but avoid marketing your property at these times of construction especially the early stages which are noisy and dusty. Any neighbouring development will improve an area so a new shopping mall complete with services will benefit your property and help with its value.

5. Maintenance

Always market a property when it is ready. If there are any small repair works that need carrying out, do these first. Most buyers lack the imagination to look beyond scuffed walls, loose tiles on the wall or even a cluttered room. Make sure everything is presenting at its best otherwise a buyer can use these as leverage against the price.

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