Tips for Sellers
When placing a piece of property on the market you are in essence entering it into a contest against similar properties. The only way for your property to win this contest and be picked by buyers is for it to win the battles of first and lasting impressions. I am going to offer a few suggestions that if implemented, will give your property a competitive edge.
Pricing is important, don't price yourself out of the market. If you are motivated, then be motivating and price to sell. Most buyers view properties on the Internet and choose which they are interested in viewing before they arrive in country. One sure why to keep your listing from being on the viewing schedule is to price it higher than other similar lots.
Properly prepare the land for showings and keep it clean and chopped. Buyers will favor well-maintained properties 100% of the time. You should make sure that the trees are trimmed, existing landscaping is manicured and all valuable areas of the property are accessible.
Have a recent map and survey showing the boundaries. This will allow the potential buyer to know exactly what they are purchasing. Mark the boundary lines and keep them cleared. Unknowns turn into objections. Many buyers will scratch your property off the list if the boundaries are not understood.
Know where your water comes from and have documentation to prove it. Share this with your agent and make sure they know how to explain it correctly. It is best if you have running water already on the property so that the potential buyer can turn a knob and see that it is actually flowing.
The rainy season in Costa Rica can abuse properties that do not have proper drainage. Water can cause damage that warrants costly repair. A property that has good drainage costs less to maintain and allows landscaping to be planted around it to help it blend and not be visible. If a buyer comes for a viewing and there is a landslide or other damage from water, chances are they will move on without giving it much consideration.
Plant some exotic fruit trees and flowers on the property. People love the idea of being able to walk outside and pick a mango for breakfast and a few flowers for the dinner table. This is an easy way to set your property apart from others. Exotic plants are very reasonably priced and easy to grow here in Costa Rica.
Have a budget available so that a potential buyer can see what the true costs of ownership are. This should include your road fees, your water fees, maintenance costs, taxes and any other things that will help the buyer understand actual cost of ownership.
Offer owner financing with better terms than banks are offering and see your potential client base expand. Banks are not lending like years before and loans are hard to come by. This is easier to do than sellers think and most Costa Rican lawyers are familiar with the process. Talk to your lawyer for more information so that you are comfortable offering this option to buyers.
Choosing the right agent is arguably the most important factor when trying to secure a sale. You want someone who has experience and success selling properties in your area. Choose someone who knows the property and will represent it honestly. Find out how they plan to market the property, what they can offer that the competition cannot and what you can expect from them during the sales process.
These suggestions, if followed, will set your property apart from its competition and help you secure a sale. You want potential buyers to understand your property completely, understand that it is priced competitively, and to remember it by some unique characteristic. This will help you will the battle of first and lasting impressions and secure a sale.
