The property selling process in 10 steps
What can you expect when you are selling your house, and what is the best selling strategy? Here is the property selling process in 10 handy steps!
Selling a home takes time, knowledge, and negotiating skills. It isn't quite as simple as putting up a “for sale” sign and waiting for the buyers to come to you. This is what you can expect when you sell your home in the Netherlands:
1. Assessment of your home
Getting an estate agent to value your property is an important first step. A registered estate agent will make sure your property is priced appropriately; furthermore, they can create a sales strategy and an effective internet marketing campaign.
Tip: To avoid problems, make sure your home is measured according to the Dutch NEN 2580 standard to avoid misreporting the size of your home.
2. Setting the right asking price
A good real estate agent will provide you with a market analysis, detailing homes similar to yours and what they’ve recently sold for. You don't want to overprice your house because that will diminish the home’s appeal. Don’t worry about pricing it too low because homes priced below the market value often receive multiple offers, which will drive up the price.
Almost a hundred percent of homebuyers use the internet as a first step in their house search. Listings with professional photos sell quicker and for more money. So, make sure your real estate agent takes professional photos.
Tip: Let your real estate agent arrange a professional photo shoot of your property. Let them also make a video for a higher ranking on Funda.
4. Floor plan and brochure
Floor plans are an essential component of the sales process as well. They take the property to the next level, giving people a better understanding of the scale and potential of the spaces.
Tip: Digital brochures can be used on websites and social media and they allow potential buyers the chance to view all the information of the property on their computer or mobile device.
5. List your property
To maximise the potential reach, your property should be listed on all major real estate websites like Funda, VBO and your real estate agent’s website. Also, don’t be afraid to use social media to spread the word about the sale of your property, such as Facebook, LinkedIn, Twitter, etc. And don’t forget about the “for sale” sign on your property!
Having an estate agent present at the viewings will ensure that your home is represented in the best way possible.
Tip: “Open Houses” are trendy, however, an individual viewing will make your property look more spacious and your real estate agent will be able to inform potential buyers in a much better way.
7. Receiving an offer
This is where estate agents can add real value: negotiating with prospective buyers. Estate agents are well equipped to manage the negotiation on your behalf and will make sure you get the best deal possible. A tough negotiator can make a big difference!
8. Preliminary contract
Once the offer has been accepted by the seller, the preliminary contract will be drafted by either the notary (Amsterdam) or the selling estate agent. This contract is legally binding for all parties to the same extent as the transfer deed, which will be concluded on the transfer date.
9. Cooling off period
The 3-day cooling off period after signing the preliminary contract of sale can only be used by the buyer to ensure that the decision to purchase has been carefully considered. Once the cooling off period has expired, the buyer is bound to the contract.
If the buyer needs a mortgage, a valuator will view your home on behalf of the mortgage bank and value the property. Once the mortgage is approved, a written bank guarantee will be given within the agreed time. Your property is SOLD.
10. Transfer day
Now, it’s time to sign the transfer deed and officially transfer ownership of the home to the buyer.
The first step is a final walk-through, arranged just before the transfer of your property. The notary will prepare the transfer deed and the statement of completion. Both parties will then be asked to sign this deed at the notary’s office. Usually, your estate agent will accompany you to the signing.
After signing the transfer deed, you will hand over the keys to the buyer, completing the sale. Congratulations!