Whether you are moving back to your home country, looking for a larger home that better suits the needs of your growing family when they visit you in Playa del Carmen or downsizing from a villa to an easy-to-maintain condominium for your retirement years, at some point you will find the need to sell your Riviera Maya property. You may have already sold a primary or vacation residence in your home country. In many ways, the process of selling your home in Mexico will be similar. However, there are some challenges that are unique to this country and the Riviera Maya real estate market. Start your selling process off right and set yourself up for a successful sale by following these recommendations.
Find a reputable Playa del Carmen real estate agent. In a highly competitive real estate market like we have here on the Riviera Maya, listing your home with the right agency is imperative to making sure your house is affectively promoted and shown! To find the best agent for you, think like a Buyer. 90% of all Riviera Maya real estate purchases begin on the Internet, so start your search there. Find an agency with a strong web presence, a well organized, easy to navigate website and look for listings similar to your home. You want to find an agent with a proven track record of success. Do not be afraid to ask for references. A reputable, experienced agent will be happy to provide references for you.
Consult with a real estate attorney. Do you have a capitals gains issue? Are your taxes paid? Is all your paperwork in order? Do you even know? Believe me, it’s better to find out now than at the closing table! A good real estate attorney will be able to work with you to estimate and minimize your cap gains implications so there are no unpleasant and costly surprises for anyone. While it may have been commonplace a decade ago, the days of under-reporting are gone. Today, the best real estate agents and real estate attorney will not allow their clients to take on your cap gains implication by reporting the sale at a lower price. If someone suggests this as a strategy, walk the other way. Ask your listing agent for a referral and meet with an attorney before you settle on a listing price and start to publicly promote your home for sale.
Set the right price. It’s important to know whether you need a quick, easy sale or can wait for the highest possible price when determining a listing price. Unlike in the United States and Canada, the actual selling price of a property in Mexico is not a matter of public record. In fact, it is often a well-guarded secret. This makes it nearly impossible to create a comparative market analysis for your home. This means that the only sales information your Broker has access to is that of his own agents. Obviously, the more experienced and successful agents will have a great resume of sales to draw their expertise from when it comes to properly pricing a home to SELL. You can do a little bit of research on your own. Look for villas or condos similar to yours that are currently listed and ask your agent how long have they been on the market at that price. Properties that have sat stagnant for months or years without selling will give you a good idea where NOT to price your own home.
Kill the clutter. Your real estate agency is going to want to professionally photograph and perhaps take a hi-res video of your home to use in their marketing and promotional efforts. These images will be what buyers see first as they search on the internet for real estate in Playa del Carmen and can make the difference between an interested buyer and one who passes you by. Bathrooms should be neat any tidy with all personal grooming items tucked away. Kids’ bedrooms should be organized and as tidy as possible with posters and stickers removed from all surfaces. Weeding out excess furniture, knick-knacks, and extra stuff is essential. The twice-annual Andale Bazar is a great place to sell unwanted items. You can also consider donating to one of the many local charities in the region that can pass your excess stuff along to those in need or perhaps sell it to raise funds for charitable projects. Organize your garage, thin out the closets, and rent a storage locker if you need it. By limiting your personal items, you'll make your home feel more spacious and help people envision themselves living in your home.
Make small home improvements. To find a Buyer who will pay top dollar…or pesos…for your villa or condo, it needs to be in move in condition. Inspect your home with a Buyer’s eyes, and correct the flaws that are most noticeable. Many of these things can be easily and affordably fixed. Re-grout any areas with loose floor tiles. A fresh coat of paint goes a long way. You may love the orange accent wall in your living room but re-painting with cheerful but neutral tones will make your home appealing to more people especially if they are planning to offer the property for vacation rentals. Make sure all your light fixtures work. Adjust any sticking doors or cabinets. Look up! Do you see any dark stains or water spots on the ceiling? This could indicate a leakage problem. Nothing will chase a buyer away faster than a water problem. If you have any water stains do a thorough inspection of your roof, unclog all drains, seal any leaks, plaster and repaint any old water stains.
Kick up your curb appeal. Aren't you more enticed to open a package that is beautifully wrapped on the outside? Because the exterior is an invitation to the interior, make sure your landscaping is in excellent shape. If your home’s exterior looks shabby and needs to be painted, do it. Clean up the yard, repair dead patches on the lawn, trim bushes and trees, and plant some flowering plants. If you don’t have a green thumb, hire a landscaper. Make sure that al of your exterior lighting is functioning. Your real estate agent or property manager will be able to find you someone good and affordable. If your yard is strewn with debris, overgrown flowers and weeds, not many people will want to look inside, even if the outside is no indicator of what awaits them. Your agent can’t sell your home if he can’t get a Buyer through the front door.
There is a lot of property for sale in Playa del Carmen and along the Riviera Maya. You will want to do everything in your power to make sure your home stands out from the hundreds of similar properties also for sale. Once you have accomplished all of this you will be in a strong position to promote your home for sale and attract the eye of Buyers as soon as it hits the open market. Register here to receive our complete Seller’s Checklist to help you be sure you have left no detail overlooked!