How will you go about this? Will deciding for a private sale and put a few adverts in the local newspaper be enough?
What price should you ask? How will you attract buyers? Is your property in a saleable condition? Does it need any improvements? How long will it take you to find a buyer and possibly even purchase your next home?
How do you know the person looking at your property is a serious buyer?
All these questions and doubts can be answered easily and clearly, if you engage the services of a Professional Estate Agency. Make sure you ask around and engage the right agent with enough experience. Although Agency fees can be substantial, following the right professional advice can in the long run save you a lot of time, anguish and money!
Malta Property Agents will ensure that an experienced Agent surveys your property and gives you the correct market valuation. Malta Property Agents will compare similar sales in your area to neither over-price nor under-price your property. A high listing price will cause some prospective buyers to lose interest before even viewing your house. A buyer viewing an over-priced property tends to expect more than what your property has to offer. As a result, an overpriced property will take longer to sell and will end up being sold, only when the price is finally lowered to the correct market value.
ATTRACTING BUYERS TO YOUR PROPERTY
Malta Property Agents will use all the necessary media forms to ensure that your property has the widest possible exposure and sells fast.
WEBSITE: There are buyers from many different parts of the world, buying and renting property in Malta. The internet, social websites and websites like that of Malta Property Agents are by far the most successful way of reaching these potential international buyers. Our website is engineered and designed to be at the top of all major search engines and is automatically linked to social networks like Facebook and Twitter. This will give your property the highest possible exposure to both local and foreign buyers.
MEDIA ADVERTIZING: Traditional forms of advertising such as local and foreign newspapers and magazines can still be effective. We are constantly searching the best of these mediums and regularly contribute in writing property related articles and also paid adverts.
BRANDING AND NETWORKING: Malta Property Agents sell and rent different types of property through our professional agents who all work and network under one brand to ensure a high level of ethics and standards.
THE OFFICE AND WINDOW DISPLAYS: Malta Property Agents have conveniently located offices where we produce and distribute brochures of our various properties. Our window displays are still highly effective for the several passing trade and browsing foreign visitors to our Island.
MALTA PROPERTY PROFESSIONAL ASSOCIATES AND FOREIGN PARTNERS: Are a sure winner in widening our network of contacts to find the right buyer for your property. Our agents are trained to inform as many people as possible about their profession and the many interesting properties they have to offer.
PROPERTY FAIRS AND EXHIBITIONS: Malta property Agents are constantly on the lookout for the best local and overseas property fairs and exhibitions to participate in.
PROPERTY INSPECTION VISITS: Malta Property Agents organize inspection visits for interested buyers wanting to visit Malta and Gozo to view property. Our local and foreign partners are always on the lookout to identify and bring over these buyers.
SERIOUS BUYERS: Malta Property Agents have many years of experience and are well trained to distinguish between a genuine, potential buyer to a mere onlooker. Before bringing buyers to view your property we normally have already established his or her purchasing power and ability to conclude a purchase. This helps us and you avoid wasting valuable time in marketing your property to the wrong people.
HOME IMPROVEMENTS: First impressions count! An often used expression which should not be underestimated! Malta Property Agents will advise you on whether your property is in a suitable condition to be placed on the Market. We will help you decided whether any improvements to your property will help you sell faster or get a better selling price. The final decision is of course yours and Malta Property Agents are at hand to recommend tradesmen and suppliers to complete any works.
THE BEST DEAL: Malta Property Agents, a group of Real Estate Professionals, will do whatever it takes to ensure that the sale of your property is as smooth and profitable for you as possible.
RELATED SELLING COSTS: If the property you are selling is your main residence and has been for at least 3 of the last 4 years, then you shouldn’t be liable to any tax when you sell.
CAPITAL GAINS TAX can however be charged on the profits of the immovable part of the sale of a property if this property does not qualify as your main residence. This tax is calculated on the gains you made between the time when you purchased and the selling price when you sell. Subtracting of course the cost of any improvements and furniture or fixtures made to the property as well as any commissions paid to the Estate Agent. This is added as an income for that tax year and is charged at a maximum 35% rate. This provision only applies if the time between your purchase and your sale of the property is 7 years or less.
FINAL WITHHOLDING TAX is charged if the time between your purchase and consequent sale of the property is more than 7 years. This amounts to 12% of the selling price of the immovable part of the sale and the only amount you can exclude from this total is the Estate Agents Fee.
AGENCY FEES: Are normally 5% +VAT of the selling price if the property listing is a multiple agency agreement and 3.5% + VAT of the selling price if the listing is a sole agency agreement.
When renting a property, Agency fees are half a month’s rent payable by the landlord and half a month’s rent payable by the tenant.
Agency fees for leasing of commercial property are normally 10% of the annual rent or lease plus 5% of any key money involved.