7 Quick Steps to Selling
How much is your property worth? Have you been thinking about selling your property in the Algarve?
Not everyone has the luxury of buying and selling properties on a regular basis, it is usually your biggest financial investment that you do once or twice in your lifetime. Sometimes you might be forced to sell to free up some capital, or the property is too big so you want to downsize or often the move is necessary to return to the UK for family or medical reasons.
Whatever your reasons, selling property in Portugal might appear daunting with the language barrier, different conveyancing processes, laws and the amount of burearacy and paperwork involved, but that's why Diamond Properties Algarve are here to help you. What you need in this case is an expert who does this every day as a profession, with a friendly approach to advise and support you through the process, just like us. With Diamond Properties Algarve you have come to the right place, we will take care of everything for you, even if you live abroad, it is our job and our pleasure to help and support you.
You will need an expert opinion on how much your property is worth. You may already have an idea of what you need to achieve in order to move on to your next chapter, and often property owners can over value their property for this reason. If you are serious about selling, it will need to be a realistic valuation in today’s market as there are three stages of marketing that your property has to go through that tests if your property is correctly valued a) the amount of enquiries it receives b) the amount of viewings it receives c) the amount of offers it receives. The more realistic the asking price, the quicker it is likely to sell and the less the buyers are likely to negotiate. An over inflated price will mean less people may even notice it as it will not come up in their price bracket search and the more they will expect to negotiate and you may receive a cheeky offer. Buyers have a very good idea of what is on the market through months and months of research of looking online and visiting properties. At Diamond Properties Algarve selling properties is our full-time, all day, every day job so we have the knowledge of what properties should be marketed for, what buyers are looking for and how much buyers are actually paying. Contact us to find out how much your property is worth. Once we agree on a price, you can sign our Contract and we will get started to help sell your property.
Get your paperwork organized. There are a number of documents you will be required to produce and pass to us as your estate agent for us to carry out due diligence and market your property correctly. Often property owners do not know what or where these documents are, the documents might be out of date, or perhaps you never had them in the first place, they may still be with your lawyer, all of this is quite common. There are a lot more documents involved when selling in Portugal compared to say the UK or Ireland and obviously they are in the Portuguese language. Diamond Properties Algarve are used to dealing with these documents on a daily basis and it is part of our service to support and advise you on what is needed. We know what you need and are here to help you and can even organize to get them for you if you can’t. Once your paperwork is in hand we will organize to take some photographs and a description of your property.
You want a professional with a good reputation to represent you to sell your property, someone who is able to easily communicate with you and available and accessible to the buyers. Diamond Properties Algarve have been selling properties for over 21 years, we have a strong steadfast presence operating from a welcome corner shop in a prime location in a charming village in Central Algarve. We are a registered company in Portugal, fully trained to sell properties at Faro University, insured, VAT registered and licensed to sell properties in Portugal with membership of several reputable national and international associations. With Diamond Properties Algarve you will have someone who speaks your language, who is accountable and responsible with an office where you can meet us in person and where buyers can feel welcomed and comfortable and get the advice and support they need to buy a property in Portugal. We take the job of representing your greatest asset very seriously, we present it in the most professional positive way possible and only get paid when you do, it is more than just a job for us it is personally living and delivering on a lifestyle we love in Portugal so we showcase this opportunity to all the buyers we meet.
Once you make the decision to sell your property, you have to get into the mindset that it is no longer your property. You may need to make your property more attractive in photos and during viewings. You don’t need us to tell you what you need to do but in case you do, read on! We take the view that your property needs to have high expectations, similar to the way someone feels when they first open the door to their luxury hotel room, everything looks and smells clean and tidy, it is welcoming and everything is neutral, looks good and works. You have to practically and emotionally prepare yourself to move on to your next chapter. Practically you need to prepare your property to ensure it appeals to buyers. This means minimalistic living and de-personalising your property. Get yourself some bubble wrap and boxes and start packing up things personal to you that you don’t use everyday such as photos, books and ornaments. If anything is broken either repair it or throw it away. We offer advice and support on how to achieve the best impression within the first few seconds of a buyers approach to the kerb appeal of your property with our Home Staging Service. We offer you access to an on-hand team including a gardener, poolman, housekeeper, handyman, builder and decorator all part of our Property Management Service to help you get your property ready, you do not have to do this alone.
We have the resources to ensure your property is receiving attention 24 hours a day, 7 days a week, 365 days a year. Diamond Properties Algarve want buyers visiting your property with genuine intentions to buy, who can afford to buy, have the ability to buy and have a realistic timeframe. Buyers are able to contact us 24 hours a day by online forms, email, Messenger, Facebook, Twitter, Facetime, Whatsapp, text or in person by telephone or by popping into our shop. We offer buyers scheduled live videos of a personal tour of their chosen property, wherever they are in the world. We will investigate whether buyers still need to sell their properties or are thinking of buying in 6 months or more, as they may not be your first priority. Diamond Properties Algarve already has a database of such buyers and receives new enquiries every week. We personally meet every buyer and ensure they have what it takes to buy a property, answering any questions they may have so they are fully informed, supported and prepared when they find the perfect property, we support them from offer to completion and beyond with our Property Management Service. In most cases our property owners live between the UK and Portugal and need someone to open and secure their property, we work with many property owners as trusted keyholders, with our company built on the foundations of integrity, honesty and transparency within the scope of the Code of Ethics, we have the trust you need to place your property in our expert hands. We find those properties where we have the keys, receive more viewings because we have more control to instant access and buyers prefer to visit properties where the owners are not present.
We handle this for you, as it can be awkward for both parties when it comes to talking about money as you both have different directions to achieve the best price possible. We know how this works, so we are confident in the process which should take place in a private, confidential setting. We are very stringent when it comes to anything to do with money, and we will put it in writing. Each party will obviously have their reasons to want to achieve the best price possible and set a certain timeframe, and neither party want to be let down in the process. We have already done the background work to lay a foundation to ensure this process is as smooth and quick as possible. We know many things can go wrong at this stage, it is a very anxious time for all parties, we know what these obstacles might be and how to get around them. All parties will be keen on a commitment from each other and it will usually be at the buyer’s lawyers pace or the buyer’s bank if there is a mortgage, as they have the most work to do to carry out various checks on the property. We will maintain communication with all parties and do whatever we can to ensure a simple process. Usually an offer is formalized within about 2 weeks with a Promissory Contract and 10% deposit, and about 2 months later the final Deeds and the final 90% of the property purchase price being received. Neither the seller nor the buyer needs to the present at these events, it is common that the majority of buyers and sellers live abroad and give their lawyers Power of Attorney to handle this for them. We personally attend every Deed to ensure there are no problems and keep you informed. Saving you money is one of our roles, we can put you in touch with one of our business colleagues to give you a quote for exchanging your money, to see if they can beat your Bank in terms of exchange rate, fees and speed!
We have all the contacts you need to handle your property sale and final move. Once an offer has been accepted, that is when you need to think about beginning the task of packing up! As your estate agent Diamond Properties Algarve attend your property and take a full inventory with photos, you then decide what you are leaving and what you are taking, once both parties agree the inventory is attached as an annex to the offer or deeds. By now we would have negotiated and established with the buyers whether or not they want any of your furniture included. How you sell your property is your decision, there are three ways you can handle how you sell your property i) furniture is left in the property included in the price you accepted ii) you add a separate value for the furniture, for the buyers to consider paying on top of the property price you accepted iii) you will leave the property unfurnished. Anything you don’t want we can help you sell or donate to charity, all part of our service so don’t worry about it. We can put you in touch with expert removal companies to give you a quote to pack up and move your belongings. We take the meter readings and check on your property on the day of the Deeds and you can leave the keys with us or with your lawyer to handover at the Deeds. Your lawyer normally does the changeover of utility contracts. From the day of the Deeds we are on-hand to the new property owners offering our Property Management Service to take over the care of your home even if you live abroad.
Doing for a living what we love every day, we are in a very fortunate position. Contact us if we can help you buy or sell property in the Algarve, we will be happy to help you at www.DiamondPropertiesAlgarve.com