Introduction
One of the best investment strategies in improving your financial status is buying and selling houses. The main reason for these is that shelter is a basic need to a human being and also houses as asset are known to always appreciate in value. This justifies buying and selling houses as a profitable and revenue yielding venture. Deciding on which house we buy for selling can be a grueling task. This is because the process of buying and selling involves many other parties apart from you the buyer or seller.
Step 1
Houses we buy for resale should meet the following criteria so as to get buyers faster. Location, property tax, and estate market tendencies. Location is an important factor since it determines where the houses we buy will be and also their prices.
Step 2
Location affects price in the sense that, the market is usually grouped into three, there is the average, middle class and the rich neighborhoods. Certainly depending on these neighborhoods the prices have very considerable differences. Property tax affects the profits we earn from the houses we buy for resale, it is best to seek houses that have lower property taxes.
Step 3
Estate market tendencies, refers to the sell ability of the houses we buy for resale at their specific areas, it is good to look for houses in areas known to have active residential selling tendencies. This helps you to avoid overstaying with a house before selling it.
Step 4
The houses we buy for selling, usually attract certain legal fees that should be taken note of so as to reduce your costs of selling. The following are the crucial fees that must be catered for if houses we buy are for resale. Vat, Stamp duty land tax, Stamp duty land tax completion fee, Mortgage fees for purchase and also for selling, solicitors fees, land registry document fees and bankruptcy assessment fee.
Step 5
Solicitors fees are paid directly to your legal representative for the services offered. A land registry fee is usually charged on you to use in determining the validity of the houses we buy. Bankruptcy and mortgage fees are charged on you due to your financial payment methods and assessment.
The houses we buy for resale sometimes may be in poor state, to get customers quickly and at the best prices it is wises do some basic renovations. Seek the services of efficient agents and salesmen so as to get customers quickly. When you have various customers interested in the house be patient and do not rush into selecting one due to emotional reasoning, this is usually evident whenever the customers are bidding for the price.
