For every property investor, the ultimate goal is to make enormous capital in the shortest time span. In fact, there are many, who have the conception that in order to make wealth out of any property, it is important to sell it. Is this a misconception or the truth? Is there any perfect time to sell the property?
The factors determining the selling and holding of a property
The final decision of whether you should sell a property or hold it depends on a number of factors. They are:
- The favorable market conditions
- Your personal position
- The objective of your property
For some investors, acquiring rental income every month is the main focus, while others are more concerned with the cash profit by selling their assets. It is essential to have a very clear idea about your main focus when you invest money to buy a property.
Are you selling?
Developing a property and then selling it to make money and acquire the profit may not be at the very interest to you. You can refinance your equity and you can still enjoy the profits. Selling of a property after so much money going into its development requires the perfect market timing. Moreover, you might require the help of an expert, which demands the extra expenditure.k
When it is the time to develop your property and sell? Well, there is no such fixed timing that gives you the reason for selling. You have to evaluate the market condition, make analysis not only of the current market, but the future as well and accordingly you should make the decision of selling, that incurs additional expenditure like stamp duty, agent fees, income taxes and so on.
Holding the property brings more profit
Is there any stipulated time when you should hold the property? Well, whenever the situation demands, you should go for it. Holding the property and making wealth via the rental income is a way better option that selling out the property during the time when the real estate market is not making profits internationally.
While selling the property as per the market conditions, you must keep certain elements in mind.
Trying to sell the home without engaging the realtors
The contemporary time is the era of specialization. The Harlands East London Estate agents are the specialist to deal with the properties. They always have the access to the market and the strategy to get the best deals for their clients and to speed up the selling process, without compromising on the financial interest of their clients.
Engaging the wrong realtor
Just as in another profession, among the realtors, there are always the best and the worst performers. Selecting an inexperienced or incompetent realtor is no better than not selecting one. Ideally, you should check the reviews on multiple realtors and pick the one that gets the maximum rating from the customers.
Asking for unrealistic prices
In instances you ask of exceedingly high price or exceptionally low price for your property, you tend to give a negative impression about the property to the potential buyers. Find out the realistic price in consultation with the realtor or with your solicitor and then quote your deal.