http://www.czechpoint101.com/en/sell_property/ - How to sell your Czech property for 40% more, reduce your expenses substantially and have your money secure through the process. This is Part 2 of a 3 part series.
This video gives tips on how to advertise your property and get it in front of the most potential buyers as well as how to secure your money during the sale process.
View our Spotlight services to sell your property in record time at a record price: http://www.czechpoint101.com/en/services/#Spotlight.
These are the top tips for selling your property in Czech Republic based on the experience of CZECH POINT 101's Nathan Brown.
He personally sold 3 properties over the last two years using these techniques to acheive an average price 42% above valuation, a 10% reduction in expenses and the whole time having his money secure.
Now how to advertise your property?
This fact is going to blow your mind, because a full 50 to 60% of property in Czech Republic is sold without an agent.
What does this mean for yourself, as a seller, if you're trying to sell your property only through a real estate agent?
Well, it means that you're missing potentially half or more of your prospective buyers.
So it's really critical in Czech Republic that you advertise on 'for sale by owner' websites. Now we're going to give you some of the top ones that we found that are good for generating leads.
First of all bezrealitky.cz; it's a new comer in terms of for sale by owner. But it's really taking a large part of the market and we get the most leads from this website. So for a very low cost you, as the owner, can list your property here and it will be a very big one for you.
Now a couple in English that maybe you haven't heard of.
myczechrepublic.com - It's a forum and there's one place you can list your property for sale in there. We found that it's good for generating some leads from this from a niche market.
Prague.TV - As well in English
Finally slando.cz - It's a Czech classified ads website where you can as well list your property for free.
So these are good ones to keep in mind.
But finally, if you only advertise on for sale by owner, you're missing the other 40 to 50% of the potential buyers. And so you also want to send your offer to real estate agents.
Now, if you remember from the first video that you want to price the property 2 to 3% under the direct comparables. If you do this, it allows the agent to add their commission and still be competitive.
So you can tell the agents this is the price that I want to take away from it, you can add your commission on top of it.
And finally, we want you to take a look at our spotlight service. It is a new service that we're developing that will give you a guaranteed number of views to your advertisement. And we'll do this through Facebook advertising, twitter, through Google ads, a lot of new methods that we're working on that we found very effective for advertising your property. So you can look in the notes in this video to get some more details on that.
How to secure your money during the sale process?
First of all you have to realize that real estate agents, if your sale goes through one, will not protect your interest in the sale. You can't trust them to do a good job on the contract or to protect your interest as the seller. This is why Czechs really don't like real estate agents. You need a legal party to represent you, um, you yourself as the seller.
As well, make sure all the money goes into an escrow account. Before you sign the purchase contracts, all the money should be there. If the signed purchase contracts get out before you have the money you could have a difficult time trying to collect that money later.
Also in Czech Republic, there is a point where you turn the property over to the buyers.
Now many would like it turned over at the point that the money is in the escrow, and as well the contracts are submitted to the Land Registry. However, we found that it's best to get at least 50% of the money paid directly to the seller before turning the property over. So not to the escrow but to your bank account, before you turn the property over.
If you turn the property over and there's some problems in the land registry, and because of that the money is not released from escrow, you can have a problem getting the keys back.
So you want to make sure you have at least 50% of the money in your pocket before you give them the keys.
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How to Sell Your Czech Property for 40% More - Part 3by CZECHPOINT101171 views
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