On our previous article we had shared some few pointers when buying an apartment this time we focus on the seller and what efforts he is supposed to undertake so that he can secure a credible buyer. Its important for one to be on the look out as a seller so that one can avoid disputes that can be foreseen.
1. Inspect the premises on a regular basis.
In order to maximize sales one must make sure that the finishing of the apartment is top notch. This is important so as to check whether the fittings and fixtures are in good working condition when showing prospective buyers the apartments for sale and also to attract more buyers in the process.
2. Updated records
It’s a key aspect as a seller to make sure that all of the records are up to date and in order for accountability purposes.
3. Ensure that the advertising information of the apartments is accurate.
The information that is advertised should be accurate and the pitch should also be refined. Since honesty is the best policy do not exaggerate information to avoid misrepresentation.
4. Conduct a market survey
Its of vital importance that one conducts a market survey to see what the current market offers and to ensure that one can attract the right target market.
5. Ensure that you conduct some checks on the proposed buyer
- To curb identity fraud one should have a copy of the buyers Identification number or a passport and if it’s a company the copy of the certificate of incorporation.
- Its also important to look at the financial stability of the buyer whether he has outstanding debts by checking his or her credit status through the credit reference bureau.
- If the buyer is purchasing the house through a financier for example it is a bank its important to check their arrangement with the financier or lender.
- Its important to also check whether the buyer has any pending cases through the online platform kenyalaw.org.
In conclusion the seller should be on the look out to be able to purposefully find the intended buyers that he had in mind while developing the property.