With several options coming up, a new category of buyers are emerging who is planning to finance the new property with funds raised through the sale of old property.
With a new flat, there is more returns anticipated and the lifestyle also improves. But, are things always easy while reselling your old property in order to secure a much more viable option? The answer could be no.
Large numbers of people are finding it difficult to raise sufficient amount of money from the sale of a property a few years old. The new property comes at a heavy price and it may not be possible to raise the money from the sale of an old flat.
This is a raising concern everywhere, says a recent analysis. Now, the question is how to ensure that maximum profit is incurred through selling your current property.
Many are depending upon financial assistance from banks for the balance amount, but such loans are sanctioned provided the buyer has finalized on a new property and transactions have been initiated.
And, the costs and tasks involved in selling and buying a new property could also be significant enough to cause financial burden on the investor.
Therefore, it is suggested that arrange the funds first and go for a new transaction. Or, it might be possible to do the process in steps in accordance with the availability of cash.
It would be also be better to go for a property that is under-construction. Many of such projects ask for payment in installments and the buyer would be given time to arrange the funds.
Try to settle for a loan that causes less financial burden and asks for less interest. Do a market research and seek legal and financial suggestions from experts.
In short, if your aim is to make a profitable sale happen, work out your finances, set a clear goal and try to find out feasible ways to approach it.
Ensure that additional costs are properly scrutinized and settled. And, it is vital to note that no extra cost is paid as part of the deal.
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No one will sell the property, that too at this time
ReplyDeleteselling a property like apartment or Plot is not a great idea. We should wait for a good time to sell the property.
DeleteThis is the right time to sell your property because this time property prices are on sky high so you will be get good returns. Good checklist for property sellers.
ReplyDeleteActually those are very good tips ... But it is better that to not to sell property in current situation.
ReplyDeleteFor the plots the demand will be more, but most of us will not prefer the Used flats to stay.
ReplyDeleteA very good Helpful information on this topic.
ReplyDeleteNow a days, for second hand flats are also having lot of demand in the areas like Koramangala and JPnagar.
ReplyDeleteYa agreed in real estate sector always it will be in demand, we just need to wait for right time. Once opportunity comes we can sell our old home and we can get good returns.
ReplyDeletevaluable nformation...
ReplyDeleteHaha.., Very much useful for home sellers but i don't think selling a flat is a good idea.
ReplyDelete