When it comes to selling a property, you don't necessarily think about spending money. And yet you do! Selling your property involves a number of unavoidable costs; others are optional but may be necessary for a better sale. The trick is knowing what to do and how to spend it wisely. Here's our advice.
Mandatory diagnostics: a selling point
When a property is put up for sale, certain diagnostic tests are mandatory, depending on the year it was built and its legal classification:
- The Loi Carrez (Carrez Law) measurement, which gives an indication of the habitable surface area of the lots sold,
- Asbestos or lead detection,
- Checking the electrical and gas installations,
- And finally, the energy performance of the home called ECD.
These inspections should be carried out as soon as the property is put up for sale. Don't wait until you've found a buyer to have them carried out. A potential buyer who learns at the last minute that there is asbestos in the property may change his mind, and you could lose the sale.
Our work as estate agents will be to explain the diagnostics to customers in advance, to answer their questions and, in short, to be TRANSPARENT.
This makes it possible to establish a relationship of trust with your potential buyers. What's more, your estate agent will know how to play down weak points and highlight what's really important to future buyers.
However, you should be aware that diagnostics are purely informative and do not entail any obligation on the part of the vendor to bring the property up to standard. However, the sale price may be affected.
Refurbishment: yes, but not renovation
Do we need to do any work when we know that we don't all have the same tastes? As a seller, you're about to leave, so you're probably thinking: what's the point? Or conversely, you think it's important to invest in order to sell better.
The presentation conditions remain fundamental, even for a property to be renovated.
That's why walls/paintings that have been freshened up will always give a better impression and lessen the impression that work needs to be done.
But there's no question of embarking on a complete and costly renovation because, barring exceptions, the selling price will not be increased by the cost of the work. It's better to sell taking into account the cost of the work involved.
Some small or larger jobs can obviously make a sale easier: freshening up the walls with white or a light, basic colour; sanding and maintaining a parquet floor; carrying out major garden maintenance; renovating a technical room such as a bathroom or kitchen, or simply giving it a 'facelift' with a bit of paint and a few tricks.
Whatever the case, carrying out work to improve presentation conditions will always help to reduce sales times and negotiation margins.
Other costs involved in selling a property
This involves the issue by the property manager of a pre-dated statement for co-owned properties, made compulsory by the Alur Act. This document, issued at the time of the promise to purchase, sets out the state of the co-ownership's finances and the lots being sold. An update will be requested at the time of signing. This will give the buyer an overview of the co-ownership's finances and any debts. It should be noted that the costs of the deed of sale, commonly known as the notaire's fees, are always borne exclusively by the buyer.
Between constantly changing legislation and the best strategies for selling, it's best to be accompanied by a professional who can advise you on what expenses are useful and what are not. It saves time and often money!
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