HOW TO SELL YOUR HOUSE IN NIGERIA DURING RECESSION

While recession can prove to be reason behind the drop in business for many, it is still possible to soar in real estate investment.

Even during economic boom it is not just enough simply list your property on a random real estate website and keep your fingers crossed and waiting for a miracle.

Today I’ll be highlighting proven strategies that will help you sell your house even in the middle of an economic slump.

So follow along and explore some of the tips I’ll be discuss below to ensure you get the very best deals for your property.



Spot the Problems

With or without recession if you realize that your property has remained unsold for an unusually long period of time then it will be prudent to slow down and find out what the problem is.

Remember that without spotting or fixing this problem, selling your house could remain a challenge. Recession could even worsen the case.

If you are yet to list the property on a credible real estate website, you might want to consider doing that.

While the location of the property is one of those things that cannot be changed, look out for things that might require fixing in the property.



To find out what the problems are, consider carrying out a home inspection. Well, yes, most home inspections are done by the potential buyer but why not do one with a view of spotting possible problems and fixing them before you sell the house.



Get Professional Help

One of the best supports you can get in successfully selling your property in the middle of a recession is to enlist the help of a credible real estate property with an experienced pool of realtors.

Taking this move will provide you with more support that you could have ever thought of. For example, these professionals will give you fresh insight into the true impact of the recession on your property.

Another importance of working with experts in selling your property is their ability to make crucial business calls on your behalf. These real estate professionals will help connect you with clients who are on the lookout for property like yours.

Remember that these are professionals who have acquired a wealth of experience over the years. Request for professional help today.



Be Fair in your Asking Price

Recession has taken its toll on lots of business and its effect on the value of real estate property cannot be exempted.

The price you are asking for should be realistic in light of the recession. You can’t have a property valued selling at N6.2 before a recession say in November 2016 and still peg your asking price at N9m 6 months into a recession in September 2017. This is neither realistic nor a fair asking price.

If you are bent on keeping your asking price at its value before the recession, then you would have to wait for a better time in the future to sell. As you should know, your asking price should be based on elements like features, location, size, architectural design and a few others.

But that’s not a reason to try to squeeze more out of it now. If you absolutely want a higher price, maybe it’s better to just wait a few more years.



Understand how the recession affects your property

When unemployment goes up and real income hits a downward spiral, a growing number of homeowners will also experience financial challenges.

As a result, most home owners are forced to sell their homes.

S that spells out that depending on how severe the recession is, there would be an increasing rise in the number of homes that are listed for sale.

What this does is that it shows a rise in supply as opposed to dwindling demands.

Therefore supply rises relative to demand, the value of assets will suffer a decline.

To make matters worse, the existing unemployment that comes with recession reduces people’s demand for homes. We should expect less since people who do not have good jobs do not buy houses. Once again, this simply adds more pressure on the dip in the value of homes.

When you understand how the recession affects property valuation and sale, then it puts you in a position to make more informed decisions.



Make Improvements on Property

First impressions are lasting they say. If you take this into cognizance then you will remember that your first impression is probably your only chance to sell off your property.

Hence it is a good rule of thumb to commit a lot of time and energy into ensuring that what the potential buyer sees during inspection is impressive enough to make them give a nod of approval.

Remember to check the paint job and the exterior of the house. Look out for parts of the house that might have been damaged from natural elements like the rain.

Your goal here should be to impress a prospective buyer well enough to fall in love with the property even before setting foot in it. Therefore, pay attention to glaring parts of the house that potential buys are likely to inspect.

Clean the windows, bathroom and kitchen thoroughly because these are areas that buyer pay attention to.



Finally, with the recession here it could be really be hard to simply hand your property over to an agent and expect buyers to try to outbid one another.

As Nigeria continues to swim against the tide of recession, make it imperative as a homeowner to work with real estate professionals who will guide you towards cashing in on the best deal despite the crunching realities of the recession.

Request for professional help today

Source: http://www.buylekkinownow.com/sell-house-nigeria-recession/


Lalasticlala, Mynd44

I did not think it was possible to Sell My Rental House until I found the best real estate agency. They found the perfect clients for me who just wanted to buy it as an investment.