How to sell a house
People often sell their house for several issues. They might be inadequacy of space, increase in cost of the plot and securing a handsome price in case of sale of the old house, or they are tied up with builders to build multi storey apartments on their plots and giving them possession of one floor over and above the sale amount they receive when they dispose of their old house.
However before selling the old house one should have full knowledge of the market conditions, deals going on in the area, price at which recent deals were struck, and of course acquaintance of a reliable real estate agent in the locality.
Knowledge of regulations governing sale-related matters applicable to the house in question, stamp duty and registration charges, tax implications, etc, is also a must to know for a person who wants to sale his home.
An agent, with years of experience, would be in a better position to execute a clean deal, as otherwise people will have to haggle with many prospective buyers, some of whom may not be genuine.
If the deal is with a builder for raising apartments in India, the agreement involves cost of the site, total cost of the project, the number of apartments the seller will be given, the cash he will get, etc. All these need critical study and drafting so that the person receives a satisfactory deal and the wording of the agreement protects his interests.
To read more real estate news:
Rental cost of commercial property in India is increasing
Source: Economic Times
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