Selling your property can be a daunting task, particularly if it is your first time, but even for old-timers, if you aren’t savvy to the tricks of the trade, you may end up in a tight spot at some point. While the following is not really an exhaustive list of all the things that you may need to know, it would certainly help you get started and point you in the right direction when you feel lost:
Get Your Property the Publicity It Needs
Yes, you aren’t particularly required to advertise or publicise it. However, consider this: your property stays on the market for too long, the prices may go down, and/or you may begin panicking and end up selling at too low a price. Or, you may get a reasonable, but nevertheless, much lower price than what you may have garnered had you been able to publicise it to the right kinds of people—say, people coming in from a different city looking for property in yours. So, there are two simple things you can do about it:
Contact your nearest property dealers/agents and inform them of the availability of your property for sale.
Be sure to get your property the internet exposure it definitely needs in this day and age. That is actually more easily done than the first option since you can simply do this at home. Get your property conveniently registered/listed on the site and you can ensure that it is available for everyone around Pakistan (and the world) to see.
Know Your Prices
Research the market. Discuss it with your property dealers. Look online, particularly through other listings of the property of the same kind in the area. That way you will be able to form an idea of the maximum price you may be able to sell it for, as well as the minimum you should sell it for.
Having an estimate of the kind is of immense importance since you need to be ready to negotiate with any potential buyer who, you can be sure, would be doing his best to get it at the lowest price possible, through all means. Not to mention, this would also save you from potential fluctuations in the market. You would know when to hold on and not sell because due to the nature of Pakistan’s economy, the prices would eventually recover, at least in the medium term.
Contact a Lawyer
People are scared of lawyers—perhaps, not unjustifiably—and they usually try to avoid them if they can. However, in this case, as in some others, they are indeed the best people you can ask help from. You don’t need to go to big-shot lawyers—who are the really scary ones, indeed—some normal lawyer you (or someone you know) may know would be help enough. Particularly discuss the sale deed with them.
Sale deed—quite obviously—is the most important document you would have as a result of this sale, and execution of a well-drafted deed can literally save loads of money as well as years of your life. So never take the sale deed lightly:
Always transfer property through a sale deed, even though verbal agreements are legal, per se. But documents, even shady ones, can potentially trump verbal evidence in court.
Never get it drafted by someone unprofessional. Always hire the services of a trusted, adept lawyer for drafting the sale deed.
Get that sale deed registered.
Prepare Your Documents
When you contact the lawyer or property dealers/agents you should get a complete list of all the documents you need to prepare and procure for the sale. Prepare those documents well in advance and have them ready for when you meet the potential buyers. This would go a long way in satisfying the buyer and ensuring a smooth transaction.
This is by no means a comprehensive list. There are a lot of things you may need to learn and understand but as long as you stick to these basics, you will be able to stay on the right track and do exceptionally well even for an inexperienced person. Meanwhile, if you may have any particular questions, ask away in the comments.