Your search results

Important Tips for Buying or Selling an Apartment:

Posted by Site Manager on 04/03/2016
| 0

Important Tips for Buying or Selling an Apartment:

There are many parameters which affect whether or not a real estate transaction goes through, and for most people buying or selling an apartment is the most highly valued deal they will make in their lives. In order to ensure the best possible transaction, we have compiled a number of tips for both sellers and buyers, in order to end up with a deal which is fair and satisfactory to both parties:

Tips for selling an apartment:

  1. Time – the more time the seller has to bring about a deal and receive payment, the better chances are that the real estate agent working alongside the seller will be able to meet the price demands that have been set. The purchase of a new property prior to the sale of the old one, or some other economic pressure, will result in a need to compromise in favor of a quick transaction.

  1. Check the records – it is important to make certain that the property is legally sound and is approved for sale, and has no “warning notes” or other issues relating to its registration in the Land Registry. Bureaucratic delays may scare off potential buyers, and the seller may even be forced to pay compensation in cases where a memorandum of understanding has been signed for a deal that cannot be realized.

  1. External appearance of the building – the potential buyer’s eyes examine the property from the time he enters the street or town. Naturally, you cannot take responsibility for the entire street, but a nice entrance lobby, a well maintained front door, a clean building and elevator, etc., are all parameters which potential buyers consider.

Many apartment owners refuse to invest and participate in the maintenance and renovation costs to the building and its entrance because they do not live in the building, and are planning to sell their property. Such an expenditure, however, is a smart investment that ensures a quick sale and an increase in the value of the apartment in the real estate market.

  1. The appearance of the apartment – An apartment which is not being lived in must still be regularly cleaned, the walls must be well painted and maintained, water must be occasionally run through the faucets to prevent corrosion and the apartment must be frequently aired out. Buying an apartment is buying a dream. Bad smelling odors, rusty tap water, a creaky door and a broken shutter – these are all things which will hurt the dream and the prospects of selling.

Tips for buying an apartment:

  1. Budget – Buying an apartment comes with many additional expenses beyond the actual cost of the property itself. You must also consider payments to lawyers and agents, registration costs with the authorities, payments to movers, the costs of updating and fixing up the property, buying furniture and other accessories, and more. It’s a good idea to set up a budget in advance, which will include all of the above payments and divide it correctly, and ask your real estate agent to show you apartments that match your budget.

  1. Examining the property – before buying an apartment, it is recommended to visit it several times, and not to settle for a single, first impression. Visit the apartment in daylight and at nighttime, enter every room and space, open and shut windows and shutters, open faucets. After you sign the contract, you will not be able to complain to anyone but yourself.

  1. Set aside a budget for renovation –There is no need for expensive general renovations, but painting the apartment according to your taste, upgrading the bathroom or the kitchen, will usually bring about a perfect look for a cost that is not outrageous. It is a shame to pass on great apartments in relevant locations just because the color of the floor is wrong, or the shower is old. These are things that can be replaced and fit to your liking with relative ease.

The allocation of a budget for renovation should be examined even if the standing apartment is intended to serve another family and is adapted to its taste and needs.

  1. Explore the area – schools and kindergartens for families with children, proximity to commercial centers, the availability to public transportation – all of these parameters can have a real impact on your lifestyle, and must be considered before buying an apartment.

  • Currency

  • Advanced Search

    0 ₪ to 5.600.000 ₪

Call Now Button