In this blog, we will walk you through the entire process of selling your property in Pakistan. Real estate is one of the most profitable business opportunities in Pakistan. It is not only a safe bet but also a highly profitable investment. A large number of people in Pakistan buy, sell, and rent out their homes on a regular basis.
So, let’s get started.
Ways to Sell Your Property in Pakistan
People in Pakistan sell their properties in a variety of ways. Among these methods are:
Sell Your Property through Agents
It is one of the most common methods of selling real estate in Pakistan. People hire professional real estate agents, show them their properties, negotiate the price, and decide on the agent’s commission.
In exchange, the real estate agents show the property to various buyers before selling it to the best-suited buyer. During the selling process, it’s important for both the seller and the buyer to avoid making costly mistakes and make decisions based on good information.
If you are looking for highly professional real estate agents in Pakistan, we recommend contacting the real estate experts at Graana.com, Pakistan’s First Online Real Estate Marketplace.
The team is very qualified and has a lot of experience. They will do everything they can to sell your property safely and securely.
Using Auctions to Sell a Property
An auction is a private sale held at a specific location, time, and date where different buyers attend and bid. If you need to sell your property quickly, you can hold an auction. One of the most important aspects of the auction is that there is no set price. This means you are free to make any offer you want.
Keep in mind, however, that in an auction you must adhere to strict rules and regulations regarding the process. Also, ensure that the auction participants are not shady.
Sell Property Online
In Pakistan, you can also sell your property online, in addition to the traditional ways we’ve already talked about.
One of the most modern and easy ways to sell your home is through an online portal.
For example, Makanwalay.com provides both an online portal and a mobile application. You can post your property online, upload pictures, quote its price, add a description and location, and people will contact you through our experienced team.
The entire procedure is safe, transparent, and simple to follow. Log in to Makanwalay.com for more information.
Steps to Sell Your Property in Pakistan
When you sell property in Pakistan, one must be fully prepared and well informed.
Follow the steps below to ensure that the entire process runs smoothly.
- Determine your financial situation.
- Hire a competent real estate agent.
- Get your house in order.
- The legal framework
- Make a bid.
- Token cash
First and foremost, Do your homework and stay up to date on the latest real estate trends in your area. Make certain you are aware of all applicable laws and pricing for the property you are about to sell.
Determine your financial situation
Ask around to find out what the property prices are in your area. Before making any decisions, contact real estate agents and gain their valuable insights.
Hire a competent real estate agent
Real estate agents are the most common way to sell your real estate property in Pakistan.
Make certain that you hire legitimate real estate agents who have a track record of success and are well-known in the community. There are numerous scams in society that are all out to steal your money. Be wary of them and only hire those with a legitimate presence.
All of Makanwalay.com’s valued customers receive professional services. They also prioritize transparent and secure transactions while adhering to all legal frameworks.
Get your house in order
Before inviting buyers into your home, make sure it is presentable and that there are no loopholes or obvious flaws.
For example, if you have any leaks or a wall that needs to be repaired, go for it and make sure you fix your home before the visit.
These repairs may be costly, but they are also extremely rewarding. A house that has been repaired and polished can get you better rates.
The legal framework
Real estate investment is a great way to protect your money in the long run. However, it can be extremely difficult and sensitive to legal issues.
So, make sure you follow all the rules to keep things safe and clear.
Among the documents required are:
- Photographs of both parties (buyer and seller)
- Copies of the concerned parties’ National Identity Cards (NIC)
- The seller’s original title deed The title deed is the document that proves the seller’s ownership.
- The buyer and seller sign a sale deed, which is a legal document, to make sure that everything is clear.
- The property registration office in your area can provide you with a record of rights, also known as fard. This document guarantees that the seller owns the property.
- A non-demand certificate (NDC) is a document that proves you owe no property taxes. You can get it from your local development authority or, if you live in a housing society, from the housing society itself.
Make a bid
Set up meetings with the buyers once you have received their offers. Talk to them, inquire about their budget, and inform them of your offer. Also, inquire as to how they intend to pay you. Will they make payments in installments or opt for a lump sum payment? Discuss everything with them and take them on a tour of the property. Aside from describing the benefits of the property, tell them about the benefits of the surrounding area and its amenities.
For example, you can inform them about the availability of utilities such as gas, water, and electricity. You can also inform them about the property’s infrastructure and security.
Getting through this step is the most challenging aspect of the whole process. Exchange information with the buyers and inform them of the property’s benefits. Also, tell them your asking price, the preferred method of payment, and any legalities concerning the property. Learn about the best places to invest in Rawalpindi real estate.
Choose the token money. It is a small sum that you give to the seller to complete the transaction.
In Pakistan, the token money is usually mixed with Bayana. Because Bayana is combined with written agreements, it is more formal than token money.
After you have everything in writing, you transfer the property into the buyer’s name. This could take a few days.
So, these are some considerations to bear in mind when trading real estate. Make certain that everything is legally binding, transparent, and secure. If you want to live in Karachi, we have compiled a list of top-performing areas for you to invest in.
If you have any questions about selling your home, please leave them in the comments section below. We will be delighted to assist you.