Selling Property in Puerto Rico can initially appear like a daunting task. This undertaking can be so much simpler if you have a plan of action, proper preparation, and a competent real estate specialist assisting you in Puerto RIco. There are a number of things can do to make the process less stressful and even enjoyable.
Take the time to visit several new model Homes or Condos in your district that are up for sale. Pay special attention to how the Home is staged. Notice the professional appearance of the property as you make your way through it. This is what you should strive for when you have your real estate agent place your Home up for sale in Puerto Rico. A professionally staged Property in Puerto Rico will always draw more attention than a Home that is mediocre in appearance.
Make sure the real estate agent you choose has a full understanding of your neighborhood and has a proven record of success Selling Homes in Puerto Rico similar to your own. They should be familiar with any Home that is challenging for the same buyers that you are and have a plan to be competitive. If your real estate agent has a thorough knowledge of your neighborhood in Puerto Rico and can answer questions about your Home or Condo, your property should Sell in a timely manner.
Clean up any clutter that may have accumulated outside your Home. This means always checking that your children’s bikes and toys are put away, garbage bins are out of view, and lawn tools are stored properly and out of sight. Potential buyers should feel welcome as they approach. Maintain your flowerbeds and gardens and if required you should repaint your front door.
Tips for Selling Property
Homes sell year round in most markets in Puerto RIco but there are times when the market is naturally slow. Parents do not usually like to remove their children from school in the middle of the year forcing them to adjust to a new environment. There can be seasonal weather issues to contend with and during these times, fewer buyers may be available. If your are Selling a Property in Puerto Rico at these particular times, try to be flexible when considering any offers or you could still be trying to Sell your Home or Condo months down the road.
Before listing your Home for sale with your Realtor in Puerto Rico, make sure all pet stains and odors are eliminated. Pet odor is a huge impediment when selling a home. Use a spray bottle with one part hydrogen peroxide (from a drugstore) and three parts water. Spray the affected areas and clean. This gets rid of the pet odors and many stains.
Locate all of your warranties. If you are selling a home, chances are that you will be leaving things like a refrigerator, an oven, and possibly a dishwasher. If possible, find these warranties and guarantees for anything that you include in your sale. Even an old user manual could come in handy to the buyer and learning this in advance of an offer will impress potential Buyers.
Always be open to negotiations when Selling your Property in Puerto RIco. Be prepared to make a counter offer when Buyers enter a lower than anticipated offer. During markets that are more difficult, Buyers tend to look for bargains but do not become offended. Instead, you should counter with a price that makes you comfortable.
Home Evaluation and Selling Property in PR
Many elements are considered when figuring out the value of a Property in Puerto Rico. Things like the location, the school district, size, condition and Properties in Puerto Rico that are comparable to yours that are on the market or have recently sold. Your Real estate Agent in Puerto Rico is trained to evaluate Homes using numerous methods. When you have your Property in Puerto Rico is listed for sale, be realistic about the price. Your Real Estate Agent in Puerto Rico should walk you through their evaluation process. Remember this, if your Home or Condo carries a steep price tag, you could ultimately be forced to reduce the price and this is not optimal practice for a quick and easy sale.
If you are a non resident selling property in Puerto Rico, a 15% capital gains tax will be withheld at closing. That tax will be held by the closing Notary or Title Company at the closing and sent to Hacienda by the end of the next calendar month.