For Home Sellers

Welcome to the Home Selling Center, a comprehensive resource of home selling tips, tools to help you determine home value, and the professional advantages of choosing Realty Executives.

Clicking List Your Home can begin the process of selling your home today. By providing a brief online description of your real estate, an Executive can contact you with information on home sales, begin creating an MLS real estate listing, and assisting you with selling your home fast.

Home sales are a hot topic, so be prepared when it comes to selling your home! What's Your Home Worth gathers your basic home sale information and connects you with an Executive who can give you a free quote of your property's current market value. This is a great resource for home sellers who want to find home value and see how it compares to other real estate in the neighborhood.

Want a home selling tip? Tips for Sellers supplies informative resources on preparing to sell your home, timing the sale of real estate, and how to increase the value of your property while you sell your home. Scroll all the way down - there are more home selling tips at the bottom of the page!

A Guide To Selling an Apartment

In this guide Realty Executives presents you with a few things you should know before you sell your apartment. The following information is offered as advice and guidance only.

Selling an apartment is considered one of the most important economic events in a person’s life. Writing a letter of agreement, the sales contract, and familiarity with real estate laws (especially tax matters) are complicated areas for the typical citizen who may not always have the tools and knowledge necessary to prevent mistakes. Therefore it is very important to employ professionals – a real estate agent and a lawyer who specializes in real estate for writing of the contract.

Plan Ahead – A consultation with a specialist as well as an attorney before beginning the selling process which includes a calculation of taxes, and deciding on an appropriate price for the apartment are the key to a successful deal.A number of matters that require attention in these types of transactions:

Letter of agreement:

Many people mistakenly believe that as long as the detailed sales contract has not been signed the letter of agreement which has been signed by both sides has no binding and is only a draft of the contract. It is important to note that the letter of agreement is a contract in every legal sense. Even more so, after signing the letter of agreement the buyer is entitled to enlist a caveat of the property in his name at the Department of Land Registration. This step has serious consequences in terms of the seller and may highly limit his ability to sell the apartment to another person (assuming negotiations with the potential buyer did not lead to a signed contract).

Deviations from building permits:

Make sure there are no deviations from the building permit. Check the building’s file and photocopy its plan and the approved request for a building permit and match it to the property in order to be sure there are no deviations or construction that is not specified in the permit.

Main tax issues:

Selling an apartment that was rented:According to the law, an apartment that was rented for non domestic purposes, such as an office or other, can/will prevent the apartment owner from receiving exemption from sales tax or appreciation tax.

Taking advantage of the appreciation tax exemption: The law states that in particular circumstances it is possible to receive an exemption from appreciation tax. When selling an apartment it’s worth checking if the exemption exists, and if so if it is possible to take advantage of it. Eligibility for the exemption depends on the number of apartments owned by the seller as well as additional parameters such as when the last apartment was sold, what the apartment was recently used for, etc.

An apartment received as a gift: In particular circumstances the law states that an apartment received as a gift (full or partial) is exempt from appreciation tax. The seller of such an apartment should be aware of the waiting period stated in the law otherwise he could lose eligibility for the exemption!

As stated above, these are only a number of examples of the important issues that the seller should take into consideration before selling.

Decided to sell your apartment?

Here are a few important things you should know….

Information about the Property:

Always give precise information about the property’s size, constructed area, age, etc. If there are any deviations, it is advisable to mention them, maybe not to all parties, but if there is a development in negotiations with the buyer, it is highly recommended to do so!

Appropriate planning and timing of the sales process:

The selling price of the property is determined by good planning of the selling process. The timing of putting the apartment on the market and planning the beginning of the process affects the chances of getting a better price for it. In addition, the average selling process takes about 100 days. An apartment that has been on the market for a while may lead to a price lowering.

“Should I wait for better market conditions…..?”

Even if you are in no rush to sell, chances are that waiting for better market conditions will not bring better results for the seller. In most cases the buyer is selling as well so that most effects such as price fluctuation, interest rates and the economy in general, will even out.

Realty Executives wishes you luck and continued productive cooperation!!

Realty Executives, your address for success!