Sell Property in Portugal
When selling property in Portugal, remember none of your potential buyers have physically visited or viewed your property and it is therefore essential that you make your description as complete as possible.
Stage your property to sell in Portugal, so that it stands out from the crowd, remember buyers see your photographs first, make sure they are great and highlight the best aspects about your property.
Documentation check that your legal documentation is correct and up to date.
To sell property in Portugal online, simply send an email to Living Portugal Property with as much information as possible and once all of the required information has been gathered we will have your home online immediately.
Apart from enlisting the help of Living Portugal Property to sell your property in Portugal, we recommend that you read the following articles which will assist you in selling your home faster and for more money.
How to Sell Property in Portugal
Every seller of property in Portugal naturally wants to get the most money for their home, however, unfortunately, the most common mistake that causes sellers to get less than they hope for, is listing their property at an unrealistic price.
Property listings reach the greatest proportion of potential buyers shortly after they reach the market, but if the property is dismissed as being overpriced early on, it can result in later price reductions.
Overpriced properties tend to take an unusually long time to sell, and they generally end up being sold at a lower price than they likely would have had they been priced correctly in the first place.
Mistaking Appraisals for Market Value
Re-finance appraisals can be very encouraging for homeowners, leading them to assume that the value of the appraisal is the amount that they should expect to receive for their property.
Unfortunately, however, lenders often estimate the value of your property higher than it actually is, in order to encourage re-financing, when in most instances the actual market value of your home could actually be (and often is) lower.
Your best bet is to ask your Realtor for the most recent information regarding property sales in your community which will give you an up-to-date and factually accurate estimate of your properties worth.
Failing to “Showcase”
In spite of how frequently this mistake is addressed and how simple it is to avoid, its prevalence is still widespread. When attempting to sell property in Portugal to prospective buyers, do not forget to make your home look as pleasant as possible.
Make the necessary repairs, and do not forget to clean. Make sure everything functions and looks presentable, and remove as many possessions as you can prior to showing.
A poorly kept home in Portugal, or one with too much clutter, will make it dramatically more difficult for buyers to become emotionally interested in your property.
Do Not “Hard Sell” Buyers
Buying a house in Portugal or anywhere for that matter, is always an emotional experience, and with some buyers, making difficult decisions can be daunting.
As a result, you should try to allow prospective buyers to comfortably examine your property without you or your Realtor haggling or trying to forcefully sell your home.
Instead, be friendly and hospitable, point out the local amenities or places of interest, whilst being receptive to questions, but most importantly do not try to negotiate at this stage, as salesmanship, may just turn your potential buyers away.
Trying to Sell to Lookers
A prospective buyer who shows interest because of a For Sale sign or an open house ad may not really be interested in your property, as often, buyers who are not accompanied by a Realtor are 6-9 months away from buying, and are more interested in seeing what is out there than in actually making a purchase.
They may still have to sell their property in Portugal, or may not be able to afford a house quite yet. They may still even be unsure as to whether or not they want to relocate. Your Realtor should be able to distinguish realistic potential buyers from mere lookers. Realtors should usually find out a prospective buyer’s savings, credit rating, and purchasing power in general.
If your Realtor fails to find out this pertinent information, you should do some investigating and questioning on your own. This will help you avoid wasting valuable time marketing to the wrong people. If you have to do this work yourself, consider finding a new Realtor.
Know your Rights / Responsibilities
It is extremely important that you are well-informed of the details of your real estate contract. Real estate contracts are legally binding documents, and they can often be complex and confusing.
Not being aware of the terms in your contract could cost you thousands for repairs and inspections. Know what you are responsible for before signing any contract.
Can the property be sold “as is”? How will deed restrictions and local zoning laws affect your transaction? Not knowing the answers to these kinds of questions could end up costing you a considerable amount of money.
Signing a Contract with No Escape
Hopefully you will have taken the time to choose the best Realtor for you. But sometimes, as we all know, circumstances change. Perhaps you misjudged your realtor, or perhaps the realtor has other priorities on his or her mind. In any case, you should have the right to fire your agent.
Also, you should have the right to select another agent of your choosing. Many real estate companies will simply replace an agent with another one, without consulting you, so be sure to have control over your situation before signing a real estate contract.
There are two obvious marketing tools that nearly every seller uses: open houses and classified ads. Unfortunately, these two tools are rather ineffective. Less than 1% of homes are sold at open houses, and less than 3% are sold because of classified ads. In fact, Realtors often use open houses solely to attract future prospects, not to sell that particular house.
Does your Realtor have a website? There are very few successful real estate professionals who don’t, and for good reason. Your Realtor should employ a wide variety of marketing techniques and should be committed to selling your property; he or she should be available for every phone call from a prospective buyer.
Most calls are received, and open houses are scheduled, during business hours, so make sure that your Realtor is working on selling your home during these hours (many Realtors only work part-time).
Choosing the Wrong Realtor
Selling your home could be the most important financial transaction in your lifetime. As a result, it is extremely important that how to sell property in Portugal and that you select a Realtor who is a good match for you.
Experienced real estate agents often cost the same as brand new agents, and chances are that the experienced agent will be able to bring you a higher price in less time and with fewer hassles. Take your time when selecting a real estate agent. Interview several; ask them key questions.
If you want to make your selling experience the best it can be, it is crucial that you select the best agent for you.
Sell property in Portugal - Where to begin?
Remember what first attracted you to your house when you bought it and what excited you about it most? When deciding how best to present your house for sale in Portugal, it is helpful to try to get back into that buyer’s frame of mind.
When selling real estate a spruced-up house in Portugal makes a great first impression on potential buyers and an attractive property grabs their attention and makes them excited about finding a house that looks and feels well cared for.
Because buyers believe they’ll encounter fewer problems if they buy it, your house becomes more appealing and stands out from the competition. So if you prepare your home correctly, you’ll save time selling it in Portugal when it’s on the market.
A good first impression makes an impact on a number of levels. It’s not just the way your house looks to potential buyers, but how it feels and smells to them, how their friends and family will react, how they imagine it would be to live there.
With simple improvements throughout your house in Portugal, you can grab the attention of potential buyers and help them see why your house is right for them.
Sell real estate by creating a plan to enhance your property. Keep a notebook, and as you stroll through your house and yard, make a list of what needs to be done. Consider what your Portugal property looks like to people driving by or walking through your door.
What will they like or dislike?
What needs fixing, painting, cleaning?
What can you improve?
Whether you paint your house in Portugal or fix up the yard, your efforts don’t need to be costly; even inexpensive improvements and minor repairs go far towards attracting serious buyers.
Remember, those seemingly insignificant problems you’ve learned to live with can actually discourage potential buyers.
Buyers expect a spotless house, inside and out, so clean everything, especially your windows and window sills. Scrub walls and floors, tile and ceilings, cupboards and drawers, kitchen and bathrooms.
When selling real estate in Portugal, wash scuff marks from doors and entryways, clean light fixtures and the fireplace. Don’t forget the laundry room, and put away your clothes.
Remove the Clutter
People are turned off by rooms that look and feel cluttered. Remember, potential real estate buyers are buying your house in Portugal, not your furniture, so help them picture themselves and their possessions in your home by making your rooms feel large, light, neutral, and airy.
As you clean, pack away your personal items, such as pictures, valuables, and collectibles, and store or get rid of surplus books, magazines, videotapes, extra furniture, rugs, blankets, etc. Consider renting a storage unit to eliminate clutter in your garage and attic.
It’s hard to get rid of possessions, but cleaning and clearing out the clutter when selling real estate in Portugal can really pay off. Packing away your clutter also gets you started packing for your next move. Make your garage and basement as tidy as the rest of your house.
Simple little tasks such as storing your tools and neatly rolling up your garden hose suggest that you take good care of your house. Don’t let anything detract from making your best first impression.
They’re an important consideration to many real estate buyers. By storing clothing you won’t use soon, you’ll make cupboards look more spacious.
A new coat of paint cleans up your living space and makes it look bright and new. To make rooms look larger, choose light, neutral colors that will appeal to the most people possible, such as beige or white.
Check its condition. If it’s worn, consider replacing it. It’s an easy and affordable way to help sell real estate in Portugal faster.
Again, light, neutral colors, such as beige, are best. If you don’t replace it, you can suggest to potential buyers that they could select new carpet and you’ll reduce your price; buyers like to hear they’re getting a deal. At the very least, have your carpet cleaned.
Repairs and Renovations
It’s best to avoid making major renovations just to sell real estate in Portugal since you’re unlikely to recoup those costs in your selling price.
Make minor repairs to items such as leaky faucets, slow drains, torn screens, damaged gutters, loose doorknobs, and broken windows. Make sure repairs are well done; buyers won’t take you seriously if your home improvement efforts look messy, shoddy, or amateurish.
Leaks and Moisture
Water stains on ceilings or in the basement alert buyers to potential problems, therefore do not try to cosmetically cover up stains caused by leaks.
If you’ve fixed the water problem, repair the damage and disclose in writing to the buyer what repairs were made.
The “Wow” factor; That first visual, high-impact impression your house in Portugal makes on potential buyers, can turn a looker into a buyer.
To determine your property’s curb appeal, drive through your neighborhood and note other properties; then approach your own house as if you were a potential buyer. How does it look? Does it “wow” you?
Will its curb appeal attract buyers? Note what needs improving, such as trimming trees, planting shrubs, or painting gutters.
Little things convey that you’ve cared for your home, and this is your opportunity to sell that important message to buyers who are shopping from the street, simply cruising neighborhoods looking for houses for sale in Portugal.
To get them through your door, do what you can to make your property look like someone’s dream home.
If it’s peeling or blistering and you can’t remember the last time you painted it, your house needs some attention. That also goes for varnish that is significantly faded.
A newly painted or stained exterior will help sell real estate in Portugal faster, and whether you do it yourself or hire someone, you’ll also increase your home’s value.
In the yard
Grab people’s attention by enhancing your yard and landscaping. If your house looks inviting and well-maintained from the street, people will imagine that it’s attractive on the inside, too.
Prune bushes and hedges; trim trees. Keep your lawn looking healthy and green by mowing it often, fertilizing it, and keeping it edged and trimmed.
Clean up and dispose of pet mess.
Weed your gardens; add fertilizer and mulch and plant colorful flowers. In the winter, keep your driveway and sidewalks shoveled, de-iced, and well-lit. Stack firewood, clean out birdbaths, repair and paint fences.
The front door
An attractive entry catches a buyer’s eye and says, “Welcome,” so highlight this area of your house with decorative touches, such as a wreath on the door or new shrubs and flowers around the steps.
For an even grander entry, clean and paint your front door, or replace it with a new one for a few hundred Euro’s. Don’t forget to fix and polish doorknobs, repair torn screens, and then put out that new welcome mat.
Cleaning and maintenance checklist
Windows, sills, and screens • Walls and floor • Tile • Ceilings • Cupboards and drawers • Kitchen • Bathrooms • Light fixtures • Ceiling fans • Carpet and rugs • Mirrors • Garage • Attic • Basement • Laundry room • Yard • Gutters • Replace furnace filter • Dust furniture, TV and computer screens • Closets • Remove clutter • Pack personal items
Leaky faucets and plumbing • Torn screens • Slow drains • Gutters • Loose doorknobs • Deck boards • Broken windows • Electrical fixtures • Water stain damage • Broken appliances • Damaged walls and ceilings• Worn carpet and rugs• Damaged sidewalks and steps
Stain or paint deck • Store tools • Roll up garden hose • Paint or stain exterior • Prune bushes and hedges • Trim trees • Mow lawn, fertilize, edge, and trim • Weed gardens, plant flowers • Shovel driveways, de-ice • Stack firewood • Clean out birdbaths • Caulk windows and doors • Repair and paint fences • Seal asphalt driveway • Make sure doors close properly • Enhance entryway • Replace welcome mat
These elements are no secret, selling real estate in Portugal or anything is about presenting it as favourably as possible, and a home is no exception.
With the right realtor and the right presentation, you may find that selling real estate in Portugal is a painless, quick and profitable process!
Stage your home to sell in Portugal
Please remember when you intend to sell property in Portugal, first impressions make a significant impact on a buyer’s decision-making process. Home Staging can help you achieve this positive step!
Once your have decided to sell your home, it then becomes a product. Home Staging simply allows you to highlight the best of your home and de-emphasize its flaws. It’s not about decorating, but actually turning your home into a model, to appeal to the broadest range of prospective buyers. The goal is to make people feel like they could live there, and the best way to do this is to “neutralize” the surroundings.
Try out these helpful styling tips taken from Setting the Stage in the REALTOR® Magazine Online. They’ve compiled the best tips from stagers and real estate professionals so that you can prepare your home for little or no expense. When you intend to sell property in Portugal, remember to promote it in its best possible condition.
Focus on the most visible areas
Sellers can give away or pack up toys, linens, and small kitchen appliances to store offsite. Buyers are also forgiving of storage boxes neatly tucked away in a garage or basement.
Focus on the most visible area of your home in Portugal like the foyer, kitchen, living room, master bedroom, and family room.
De-personalize the home by removing photos, mementos, and dated items.
Use plants in colorful pots or inexpensive wicker baskets to fill in empty spaces.
Look to home catalogs for little details on beautifying the home. For instance, group books, pictures, and objets d’art appealingly on bookcases.
Try angling one or two pieces of furniture slightly and move furniture 4 inches to 6 inches from the wall to create more interesting room spaces.
Put away large collections like the porcelains, plates, and so on.
Remove valuables, prescription medicine, collectibles, and breakables.
Trim trees, prune shrubs, and make sure the lawn is mowed and watered regularly.
In summer, turn on the sprinklers for five minutes, 30 minutes before the open house. It makes the lawn and driveway sparkle.
Refrain from cooking anything that leaves a distinctive odor, such as fish, garlic, or cabbage.
Hire a professional cleaning service to clean the home, including the carpets and the windows.
Set the dining room table with attractive linens, dishes, and stemware.
Arrange fresh flowers or silk throughout the home.
Light a fire in the fireplace in fall and winter.
Put a mirror in a pretty frame which can make a small room feel more open.
Use as much natural light as possible. Add extra lamps in dark rooms or corners.
Make functional repairs and fix dripping faucets, sticking doors, and broken fences.
Bring in another pair of eyes even if it’s not a professional stylist. The person may see problems you and have missed.
Tips - Selling Portuguese Properties
Find the right AGENT to represent you
The experience and knowledge of a dedicated real estate professional can be priceless. A good agent forms a powerful team with his or her clients which makes it possible for them to have a smooth, successful, and stress-free sale.
Determine your priorities when selling property
Selling your property in Portugal can sometimes difficult, time consuming and stressful; First weigh your priorities, selling price is certainly important, but having a quick and efficient sale can often be worth accepting a slightly lower offer. Talk to your agent and make sure you are comfortable with where your needs are directing you. At the same time, you should be compiling a needs/wants list for the home you will buy. You will probably have to act fairly quickly when your house sells, so any preparation that you can do beforehand will generally save you time, money and without doubt will serve you well.
Prepare to sell your property
Underprepared homes can be a disaster. Your home will never get as much attention from potential buyers as when it is first listed for sale in Portugal, so clearing clutter, cleaning, making repairs, and putting your home’s best foot forward is essential. Don’t “open for business” until your home is primed for selling and ready to be seen as favourably as possible.
How is the market?
Being realistic about your market is the key to selling your property in Portugal and to guarantee a smooth sale. Asking too much or too little may adversely affect you, so always be prepared to enlist the help of a professional real estate representative who can advise and offer suggestions when it comes to your local market knowledge.
Lots of photos and online exposure are the key for selling property in Portugal and getting a good response for your listing. Working with an agent who understands internet marketing will prove a great step in the right direction. Now that you are ready to sell your property in Portugal, contact the Living Portugal Property Group who will have your home or property for sale online and in front of many thousands of potential buyers within 48 hours.
Selling Prices in Portugal
Setting the right price affects the bottom line
When you’re selling your house in Portugal, the price you set is a critical factor in the return you’ll receive. That’s why you need a professional evaluation from an experienced realtor. This person can provide you with an honest assessment of your home, based on several factors, including market conditions, condition of your home, repairs or improvements and selling time frame.
In real estate terms, market value is the price at which a particular house, in its current condition, should sell within 60 to 90 days. In more difficult times however these times can be between six months and one year.
If your price is too high, this could;
Limits buyers – Potential buyers may not view your house because it appears to be out of their buying range.
Limits showings – Other salespeople may be more reluctant to view your house.
Be used as leverage – Other realtors may use this house to drive the sale of better priced houses.
Extended stay on the market – When a house in Portugal is on the market too long, it may be perceived as defective. Buyers may wonder, “What’s wrong or why hasn’t this sold?”
Lower price – An overpriced house, still on the market beyond the average selling time, could lead to a lower selling price. To sell it, you will have to reduce the price, sometimes several times. In the end, you’ll probably get less than if your house was priced correctly the first time around.
Wasted time and energy – A bank appraisal is most often required to finance a home.
Realtors have known it for years that well-kept homes that are properly priced in the beginning always get you the fastest sale for the best price and that’s why you need a professional agency to assist you in the selling of your house in Portugal.
Often, in a seller’s market, houses that are priced slightly below market value initially will sell for more, simply because of the extra interest they incite. This can be a risk, however, and when it comes to such a decision, an experienced, trusted realtor is your best ally to sell your house in Portugal.
For properties located outside of Comporta and due to the associated costs and time required in preparing your report, we reluctantly have to charge a fee for this service. To obtain your no obligation quote, simply telephone or email us to discuss your requirements further.
Advertising Portugal Real Estate
Where to advertise your property
With so many different ways to advertise property in Portugal, it can sometimes be a little daunting to know which way is best. A great way to start is to list every conceivable way that you know of and then ask your friends and family to contribute to these suggestions. Once you believe you have everything down start to look at each one for its individual merits including how it would fit in to your overall advertising strategy and budget. Once you have completed these tasks it should then be relatively easy to decide what you need to do to put into action the ones you have selected.
Remember not all paying advertisements represent value for money and you may find you get some excellent results from those “one liners” you place in your local or regional freebies. If you are “open to offers” make sure your potential buyers are aware of this. Once you have selected your methods for advertising property in Portugal, start writing your headlines and text, if you are including artwork or pictures make sure they are as professional as can be. Remember the majority of property buyers in Portugal will first see your home in a photograph and therefore it is critical that these pictures portray your property in the best possible light.
Always show your ideas to your family and friends and ask them what they like and dislike, it is better to make changes now in the proofing stage rather than after you have gone to print or placed the advert. Make sure your advert headlines are clear, precise and that the buyer fully understands what is on offer to them. Produce positive headlines that can be expanded upon within the broader text of your advert and always have the buyer in mind when writing your property advert. Why should they buy your property in Portugal and what will appeal to them are important questions one should ask when writing the text.
Most people nowadays use a computer and can you print a couple of different types of copy and put them out as a test run, if you are getting a much better response from one type of advert then put this one out first. Whichever you choose it is important to continually monitor your responses so that at any time in the future you can switch to the ones that are producing the best results today.
Slowly, test market first, find out what works before spending your entire budget on a one off campaign. Regular classified adverts generally work better than a one off splash. Being in front of the buyer consistently is normally a better way of attracting your buyer. One line property adverts or even a web address to your site may prove more beneficial in the long run.
If you decide to go with larger advertisements that describe your property in more detail consider changing your headline from time to time until you find out what brings in the most callers. If something is not working then change it or try another tack, it’s no good throwing good money after bad on something that you know is not producing the results.
A number of selling agents and property owners are promoting their properties on the Talking House transmitters which enable prospective buyers to tune in as they drive by your home. You may record all the details about your real estate in Portugal and also add any incentives that are available to your potential buyers.
THE TELEPHONE ANSWERING MACHINE
Do you have a spare telephone line or could you have an additional line installed? If so by adding an answer machine, you potential buyer is able to listen to all of the details about your property when it is convenient to them and without any pressure from an over exuberant salesperson.
You may record as much or as little information as you deem fit and simply by adding your agents or your own telephone number at the end of the message the buyer can enter in to contact with you when they so desire. In order for this to work you only need to include your telephone answering machine number on all of your marketing and advertisements. Another way that may encourage even more potential buyers to call in is to offer them a free phone number instead of the paid one where the call they make is free.
If your property is not listed on the internet then you are missing one of the greatest opportunities to sell your home. Nowadays the majority of buyers prior to visiting your property will have more than likely seen pictures and read a description about your home somewhere on line.
All real estate agencies have their own websites and it is relatively easy for buyers to search for properties that are of interest to them, if you’re not there you will be doing a great injustice to yourself. There are hundreds if not thousands of websites where you are able to promote your property and whether you pay for showing your property or not you have to have presence. Many of these sites have millions of hits per week with many sellers simply listing on as many sites as they possibly can and are waiting for the calls to come in.
When listing your property online make sure you understand the terms and conditions and make sure that the cost for this type of exposure is included in your overall budget. Remember, internet usage is growing everyday and therefore more potential buyers are coming online, don’t miss them.
LOCAL COMMUNITY PAPERS
Many community papers are delivered to all of the households in your neighbourhood and are very often cost effective ways of getting your message out to your neighbours and people that live close by. Another benefit is that they often provide additional more regional marketing by syndicating their advertisements with other papers. These local papers generally provide an excellent cost effective way of staying in front of the potential buyers who live nearby and a simple one line advert that can be repeated in each issue may be all it takes to bring them around to your home.
Simple but effective one line adverts may be all it takes to bring the buyers to your door. Therefore review all of the local and regional papers both paid and free and then determine which ones may work for you. This could definitely be a cost effective way of getting your property noticed, so be creative with your heading vary what you write. If this form of marketing fits within your budget try and have your advert placed in every issue or every other issue. If the potential buyer keeps being reminded of your property then they are more than likely to give you a call.
GLOSSY PROPERTY MAGAZINES
Depending on what type of property you are selling and especially if it is a more expensive property you may consider advertising within a magazine that is purchased by people that may become your buyer. These magazines are generally quite expensive to advertise in, however they do target a niche market and it just may happen that it is the same market that you are looking for. There are numerous types of these magazines on the market so check the costs and the circulation to see if any of these are right for you.
Your property may be close to a golf course or at the edge of a river that is known for good fishing, it may be in the middle of the country where the trails are fabulous, wherever it is you may just be able to sell it to somebody who has a particular interest or hobby. If it’s on or nearby a golf course you may consider advertising within a golfing magazine, and the same can be said about a fishing magazine or racing magazine if you nearby a race track.
Remember this is another form of niche marketing and although generally more expensive than the norm’ you may just find that the buyer falls for your home because of the convenience it serves them to pursue their hobby or interest
They say a picture paints a thousand words, so automatically you would assume a video goes somewhat further. With the advent of digital photography and the digital video camera it is now relatively easy to put a little video together which can be copied to DVD. If you are able to produce a video of your home, then there are a number of places that you can distribute this and again it is a convenient and unpressured way your potential buyer can see your home. As many of us now have access to computers both at home and at work the potential buyer can because of the size and weight of the DVD carry it around and show their friends. You may also post this on to many internet sites and if you are creative enough you may just get more views than you anticipated.
Be Different, don’t just ask your agent to send out the normal “Just Listed” flyers to other properties in the area. Be creative, brainstorm a little longer and be certain to include all of the features and benefits that your property and neighbourhood has to offer. Don’t forget to include all of the incentives that the buyer will receive and any other particular offers that are only available to them. Also consider where and to whom your flyers are being circulated and make certain that they stay in front of your potential buyers until your property has sold.
The majority of potential property buyers will first see your property through photographs that are promoting your property. Therefore before you take any pictures make certain that you stage your property and present it in the best possible condition. If your property is not presented properly then many buyers will not even take the time to come out and see it. Make sure that the exterior of your property grabs the buyer’s attention and makes them feel as if they wish to come inside. If you don’t spruce up the exterior many buyers will simply pass your property by. Nowadays most cameras will take wonderful and quality photographs however if necessary hire a professional photographer to take your pictures for you.
Most people tend to have their property available as an open house at some time within the promotion of their property, yet not all open houses are the same. Try thinking outside of the box and offer something different, don’t just open your home and hope for passers-by try to offer something that will attract buyers above the call and duty of just looking at your home. Live music, theatre, book reading and the like can all be used to get other interested people through the door and if combined with catered food, wine and other goodies this approach may secure the buyer that you are seeking. Personally I recently visited an open house art showing with wine food and a solo saxophonist which brought in over one hundred visitors from the local area and even though the house didn’t sell on the night the property was bought by a colleague of one of the attendees who had told a number of his friends about that particular evening.
There are many reasons why our clients wish to sell or buy property in Portugal and some sell without purchasing another property and some buy without having a property to sell. However, there are clients who wish to upgrade to a larger property or downgrade to a smaller one and therefore if you are in either of these last two categories, then you may just have another opportunity to buy or sell your property with a little more ease.
Let me explain, we have many sellers who wish to buy another property once their home in Portugal is sold, some wish to buy a larger home, whilst others wish to purchase a smaller home. Therefore, if as a seller you are willing to consider a part-exchange; that is purchasing the home of the buyer of your property you may just of increased your chance of obtaining a sale.
If you wish to sell your two bedroom property for €300,000 but then wish to buy a three bedroom home for €400,000, you could simply sell yours to the seller in part-exchange plus an additional €100,000 in cash or mortgage.
The same would apply if you wished to sell your two bedroom home for €300,000 but then wished to buy a one bedroom home for €200,000, except this time it would be you who received the additional €100,000.
There are an unlimited amount of examples, however if you are in either of these positions you should let the other buyers and sellers know about this, as early as possible. A simple last paragraph on you listing, stating that you would consider a part-exchange is all you need to do.
The last paragraph may look like this
A superb two bedroom detached home for sale in Comporta at €300,000, owner would consider a part-exchange for a one bedroom home in Sesimbra up to €200,000.
That’s it, simple
You can define the price, area, type, and size of property amongst many other things, just bear in mind, that the more selective you are, generally the less additional opportunities you will find. Therefore, if you wish to put yourself in front of more buyers, simply let us know if you would consider a part-exchange on your existing home, and under what conditions this would be acceptable.
It is currently a buyer’s market and therefore if you wish to increase your chances of selling your property, getting a little creative will help.
For additional help on how to sell or buy property in Portugal, let Living Portugal Property, know what you need. A simple email or telephone call will do.
Learn more about our available properties!