One of the most important parts of selling your property in Portugal is finding the right real estate agency. Some real estate agencies offer a huge number of properties in all parts of Portugal. On the other side, at Realtors Algarve we focus in areas we know best, offering buyers top service.
Portugal’s law allows you to put your real estate for sale through as many agencies as you want, at the same time. However, many of those agencies will just list your property and wait for a buyer to come. At Realtors Algarve we have a quite different proactive approach in trying to find a property that matches your requirements.
When selling a property in Portugal most of the work is done by the lawyers of the buyer, and they will handle all the necessary paperwork.
The first part in selling your property is listing it with a real estate agent, you will need to make sure all your documents are up to date and that any alterations that have been made are registered with the municipality. It can hinder the sale if you do not have approved plans, especially if the purchaser is applying for a mortgage.
The documents required to list your property
To sell your property you will need to prepare the following documents:
Certidão De Registo Predial (Land Registry Certificate)
Certidão Das Finanças or Caderneta Predial (Tax Card/Certificate)
Licença De Utilização or Declaration if prior to 1951 (Habitation Licence)
Certificado Energético – Compulsory for all properties for sale since 2013 (Energy Certificate)
ID’s and Fiscal Numbers of Proprietors (Passport or ID card and Portuguese Tax number)
Ficha Técnica for all properties built after 2004
How To Determine the Value of Your House?
Factors that influence home value:
The best way to boost your home’s sale is to start with the right price tag. Buyers tend to shop in a price bracket that they can afford, so, you must list at the optimal price from the get-go.
However, the valuation of a property can be tricky. As a homeowner, you know how much time and money you’ve spent on your property, and you possibly have a rough idea of how much you would like to sell your home for. Especially if you have compared home sales in your area.
It is key that you price your home right for the market you are selling in. Because estate agents work with property and know the local market, they are often the best resource to help you establish the real market value of your home.
To price your home correctly, you have to understand how home values are calculated and what elements play a role. Here are four factors you cannot ignore:
Desirability of Location
So, how does location factor into timing?
There is no one-size-fits-all approach because different regions show varying sales activity with higher demand in sought after areas or strong urban nodes.
The fantastic climate, the good food, the beautiful beaches, and warm, clear water, just to name a few are the enduring qualities that make an Algarve property such a great investment and attract millions of visitors and investors each year.
Market conditions
For most of us, property is one of our biggest investments. What happens in the economy, reflects in the property market. So, it is critical to assess the market you are entering. Property sales look very different when there isn’t a lot of stock on the market versus a market where buyers are spoilt for choice.
The key contributor to growth in property prices is the same principle across other fields of trade: supply and demand. When economies take a knock, it affects a consumer’s buying power. And when the demand for property drops, sellers have no option but to lower their prices.
Low-interest rates bring down the costs to obtain a home loan and create a higher demand for real estate. The mortgage interest rate in Portugal reached a value of 0.67 percent as of the second quarter of 2021 which was the lowest recorded rate in this period.
So, if you want to find the best time to sell your house – consider market conditions. If a country’s economy is struggling, its property market will reflect it. Wait for signs of positive growth in the economy, before you put your house on the market.
Time of The Year
As the seasons change, so do we, and so does the property market. Believe it or not, as the natural elements like the weather change so do our behaviors. The weather and school holidays may influence our behaviors, as we tend to go away in the warmer months or to hibernate in the colder months.
For example, if you are selling in an area with a lot of good schools, you could consider a strategy that allows you to sell at the beginning of the term or school year to parents who want to secure a new address near their chosen school.
Bear in mind that it takes on average three to four months to sell a house, and another three to four weeks to register the property, so the reality is that there will be buyers throughout the year. A good, qualified property expert will help you create interest with potential buyers any time of the year.
Competition
At the end of the day, the true market value of your home is determined by what a buyer is willing to pay. If you list your home at a competitive price, the interest among buyers may conclude with you receiving more than your listing price. Most homebuyers will look at properties that are within a price range they can afford. Your property has to be priced at a level that is competitive with similar properties on the market as buyers often do a more thorough comparative market analysis of properties in the neighbourhood than any seller. If a property is not priced correctly, a buyer will ignore it. But if a property is priced right, you might find yourself with various interested buyers who will offer you that higher price for the property.
Additional factors to consider when pricing house for sale:
It is important to consider the possibility that a sole mandate can help a seller achieve the highest possible sale price. When there are competing agents, they might persuade a seller to decrease the price just so they can close a sale. Agents also tend to market at different prices which is confusing to the buyers. Agents with Sole Mandates can approach other agencies who may have potential buyers. Because estate agents work with property and know the local market, they are often the best resource to help you establish the real market value of your home.
Photographing Your Home
Why is photographing your home important?
When it comes to selling your house, nothing is truer than the cliché that a picture speaks a thousand words. What those words say about your property will be dependent on the quality of your photographs. Using quality photographs taken by a professional may increase the potential of a faster sale. As you only get one chance to make a first impression and first impressions are lasting impressions, you need to make your photographs count. It is really worth your while to use a real estate company that has a good photographer to ensure your photos stand out.
Real Estate Photos
Preparing your home:
Getting your house prepared is the key to helping the photographer to capture the scene perfectly.
You may need to move furniture away to get the appropriate distance to capture a specific feature. For example; a piece of furniture may obstruct the complete visual of a gorgeous fireplace. Freshly cut flowers, a beautifully set dining table with a well-placed bottle of wine and glasses, a thoughtfully placed book next to a bed, bedside lamps turned on, and photographing some outside scenes at dusk. There are many more staging ideas that can exhibit a desirable lifestyle to capture the attention of buyers. And finally, de-clutter and clear surfaces, remove debris, rubbish bins, hose pipes, and even your automatic pool cleaner from the pool.
Examples of good real estate photos
Summary
To sell your house to the right buyer, for the best price and as quickly as possible, you need to ensure that it is presented at its best at first sighting. First sightings are usually of the online photographs on the property portals so these must be of the highest quality and must highlight and flatter the property’s best features.
If you are considering selling your property and would like an appraisal without obligation, please complete the form below and we will be in touch.
