01 Sep 2014
Known for its buying guides for the most popular destinations for would-be UK expats, www.OverseasGuidesCompany.com can also offer their support for expats selling their overseas properties – a complicated process.
Below, they outline their top tips to help readers through the complexities of selling property in a foreign country:
1. Set the right price
It cannot be emphasised enough just how important it is for the right price to be set at the beginning – particularly since the economic crisis. Setting the price too high will make it harder to sell, whilst setting the price too low could mean you sell yourself short. Speak to your local estate agents and make sure you compare your property to others on the market to see what prices they are going for – and have been sold for!
2. Register with many local agencies
You may be offered exclusivity agreements with some agencies, but it is a good idea to keep your options open to optimise the audience the property reaches. Speak to the agent who sold your house, as they will have the best knowledge on how to sell it again.
3. Prepare a pack for your estate agent and prospective buyers
Make sure you give the estate agent everything they need to educate themselves on the details necessary to sell your property. Include photos of your property at its best, all documentation (including a copy of the deeds, survey if necessary, floor plans if you have them and reports – in some places, things like electrical compliance reports and energy efficiency ratings must be including in advertising, so it's really important to look into this), the yearly cost of taxes and utilities, and perhaps a list of nearest amenities, such as shops, schools, transport links and anything else.
4. Presentation
Having an immaculate property will give you a great big head-start in attracting a buyer. As soon as you decide to sell your property, spend some time de-cluttering and fixing all those DIY issues you have been meaning to look at. This could well add a substantial sum to your selling price. You will always be given advance warning of viewings, so you can make sure all the housework is done and the house is clean and tidy – paying particular attention to the kitchen and bathroom. Make sure that any family members or pets that are around during viewings are busy or not in sight!
5. Be actively involved in the marketing of your property
Photos are the first thing prospective buyers will see, and so it is down to you to make sure the photos taken by your estate agency are appealing. Make sure you are aware of everything the agencies are doing to market your property. It's also important to check the description of your property, whatever language it is written in. These will all ensure your property stands out from the crowd.
6. Be ready for viewings at a moment's notice
Given that you were attracted to your property, you may find that it is also popular with overseas buyers – who will have a tight schedule for viewing properties. If yours is not available when they want to, it may put them off the property completely. Leave a key with your estate agent so they can do viewings whenever necessary.
7. Think about your exchange rate
If you are sending the proceeds from the sale of your property back to the UK, you will need to think about the exchange rate and how it could change between the day you accept an offer and the day you complete the sale – losing you a significant amount of money. By speaking to a currency specialist like SmartCurrencyExchange.com in advance, you can find out the best options for you and receive the best exchange rate. What's more, you can also 'fix' your rate for up to a year – fixing the price of your property in euros.
8. Be sure you want to sell
In many countries, once you have accepted an offer you are legally obliged to sell – the buyer may get a cooling off period, but the seller will not.
-Ends-
Notes for editors:
1. The Overseas Guides Company is the official guide partner to Rightmove Overseas and winner of the OPP Gold Best Media Award in 2013 and Bronze Award in 2012. The Overseas Guides Company launched in 2005 and has gone from strength to strength, becoming the foremost media portal and resource for anyone looking to buy property or move overseas.
2. As well as a Resource Centre offering free information over the phone (0207 898 0549), the company publishes in-depth, unbiased Buying Guides for 15 countries across the globe, regular newsletters and information bulletins for overseas property buyers.
3. The Overseas Guides Company Partner Network connects readers to a range of trusted professionals who are experts in the international property buying and selling process, including property agents, financial and legal advisors. To ensure information is current and first-hand, the company has a growing team of expat writers, who offer first-hand information and an in-depth understanding and of what life is like in their country of residence.
4. All writers and industry experts at the Overseas Guides Company are available for media comment on aspects of buying, selling, or living abroad.
Media contacts:
Jackie Nicholls is away until 8th September, please contact:
Rachael Kinsella, Public Relations
rachael@overseasguidescompany.com
0207 898 0549
Vicky Onslow, Public Relations
Vicky@overseasguidescompany.com
0203 586 7517