CCHOMES - STEPS TO SUCCESS
Professionalism, knowledge, integrity and commitment are all aspects of offering the absolute best as real estate professionals. If we work together, we will be able to guide you throughout this extensive process to help you sell your property in the quickest time possible and at the best market price.
We are not going to simply promise marketing genius, instead we will be your guide helping you through one of the most important processes - selling your property.
We will assure you, our highest level of commitment.
Working for You as Your AgentWe will be working on your behalf and look after your best interests.
We will market your home, evaluate and negotiate offers from buyers, and guide you through the entire transaction to ensure the successful completion of the sale.
Property Market Value, What does Affect it?- Physical Characteristics: Your home’s location, plot size, build size, architectural design, floor plan, age, amenities and condition have the strongest impacts on the value.
- Market Conditions: There are other factors that also directly impact the value of your home.
These include national and regional economic conditions, buyer demand, seasonal demand and availability of competing properties and prices of recently sold properties.
Similar Properties in your area
- Active Listings: Properties currently competing with yours, we can see what comparable asking prices are, but remember these homes have not yet received an acceptable offer.
- Long Time on the Market: Properties that have gone through the duration of a listing period, but failed to sell. Many factors could be responsible such as lack of marketing or the home’s condition, but most often it is simply because the home was priced too high.
RISKS OF PRICING
- Above Market Value
- Maximize your possible profits
- Reduces the number of interested buyers
- Increases time of selling
- FAIR MARKET VALUE
- Increases your chances for a faster sale
- Doesn’t sacrifice your profits
- Below Market Value
- More interested buyers
- Reducing profits from the property
New Listing, “Testing the Market” and the First Offer
When selling your home, time is not your friend. When a new home is listed for sale, we market it extensively to other agents and potential buyers.
If you are not priced right, you may miss viewing opportunities, or viewing that do occur will not produce an offer.
A common mistake vendors make is pricing their home high in the beginning to “test the market”. The thought is “we can always lower the price if we don’t receive any offers” or “we need to build in a cushion for negotiation.” Unfortunately most of the showing activity occurs when the home is first listed. Once initial pool of buyers have seen the home and it doesn’t sell, the sellers will then have to wait for new buyers to come into the market and they will have to reduce their price to be competitive.
Also, the longer your home remains on the market, the less interest it will generate among all buyers. Buyers typically feel that they should pay less for a home the longer it has been on the market.
Another common mistake vendors make is to disregard the first offer they receive. Often, if they receive an offer quickly, they get over confident and think maybe they could do better if they wait for another buyer. Rarely is that the case. When you first list your home for sale, New Buyers and Buyers who are waiting for the Right occasion will come see your home. So it is possible, if priced at Fair Market Value, that you could get a good offer right away.
Where Buyers Search for Properties
The first step a buyer takes when planning to buy a new home is searching online for homes, it is also important to know that today’s buyers are extremely educated and knowledgeable on the market before they even go out to look at properties.
How We Promote Your Property
- Professional Photography
- Promoting Description
- Custom Designed Brochures
- Internet: National and International Real Estate Portals
- CCHomes website: www.cchomes.pt
- Partner Agencies in different countries
- Newsletters and Social Media
- Your Property will be displayed and visible in maximum 48 hours after the contract is signed
UNDERSTANDING YOUR ROLE IN THIS PROCESS
Presentation, Viewings of Your Proprety
- Every viewing counts and you only get one chance to make a first impression! A home that is presented at its very best will typically sell faster, at a higher purchase price and with fewer problems involved.
- Remove all clutter, personal objects and unnecessary furniture - less is more.
- Do a quick dusting and vacuuming right before showings.
- Leave lights on and open all drapes and shades. Be sure windows and blinds are clean.
- Be aware of unusual cooking or pet odors. Opening windows can provide fresh air.
- Be sure items like laundry, dishes, kids toys, pet items, etc., are put away.
- Turn off TV, appliances and other distractions. Soft music can create a positive experience.
How You can Participate in this Process
- Always maintain your home in ready-to-show condition.
- Try to be flexible in the scheduling of viewings.
- It is always best to leave during showings. Also secure pets or take them with you.
- Be cautious when talking to buyers, you could accidentally weaken your negotiating position
- Let us know of any changes in your property’s condition.
- All valuables such as jewellery, portable electronics, collectibles and pharmaceuticals should be safely secured.
Necessary Documents and Contract Details- Vendor’s Identification: Passport or ID card, Fiscal Number (“Nº Contribuinte” issued by the Finance Department)
- Property Documents: Caderneta Predial (issued by the Finance Department), Certidão de Teor do Imóvel (issued by ‘Registo Predial’ - Land Registry Office), Licença de Utilização (Habitation Licence issued by the “Câmara” - Town Hall), Energy Certificate, Floor plan
- Ficha Técnica (for new built properties after 2004)
- 6 months Contract (automatic renewal): Exclusive or Non-Exclusive (Exclusive Contract: The Agent allows the Second Contractor to proceed with a private sale, as long as the prospective buyer has not been previously introduced by or through the Agent.)
- Remuneration: 5% calculated over the amount for which the business is actually materialized, to which will be added the current legal VAT rate.
- Remuneration Payment: 50% after the celebration of the promissory contract and the remainder of 50% on the celebration of the deed or at the time of the business completion.
THE SELLING PROCESS
Negotiating the Purchase Price
- If the purchaser wants to buy your property he will forward an offer through his estate agent and your agent will negotiate the deal on your behalf.
- A professional agent will prepare a ‘letter of intent’ that outlines the conditions of the sale and states the price, date of exchange and completion of contract. It also states what is included in the sale, (furniture, white goods, etc) and any other conditions. Both vendor and purchaser sign a letter of intent.
Managing the Transaction until Completion of the Sale
- The purchaser of the property has to obtain a Portuguese fiscal number from the finance office. For a non-resident person there are no tax implications involved.
- Both parties should be represented by a local lawyer to whom the letter of intent is passed on to. The purchaser’s lawyer carries out all the necessary legal searches on the property to make sure that everything is in order.
- The purchaser’s lawyer normally prepares the Promissory Contract (Contrato Promessa de Compra e venda) that will confirm the identity of vendor and buyer, details of the property, completion date, schedule of payments and any other terms agreed by both parties.
- The Promissory Contract is a legally binding contract and signed by both vendor and purchaser in the presence of a notary or lawyer. Upon signature the buyer normally pays a non-refundable deposit (usually 10%) via the lawyer’s client account to the vendor.
- Prior to the completion date the buyer needs to pay IMT, the Property Purchase Tax
- Upon signature of the final deeds at the notary’s office, the balance of the purchase price is paid in addition to Notary, Stamp Duty and Registration Fees. They are paid at the public notary and at the Land Registry when the purchaser is registered as new owner of the property.
Your success is truly our success.
If you have any queries about the buying or selling process please do not hesitate to contact us.