Checklist for the sale of a house: the ideal step-by-step procedure

You were just looking for a home selling checklist? If you are like most home sellers, you will most likely find yourself in one of these two situations:

1. You are just starting a new phase of your life and your old house has become too small or too big. This means that you want to buy a new house and pay for it in part or in full with the proceeds from the sale of the old house.
2. You have inherited a house for which you have no use and now want to sell it. Now is a good time to do so, especially in the high-priced real estate province of Tyrol. Prices are higher than ever and you want to take advantage of the favourable market situation.

But while newspaper and online advertisements are chasing one record sale after the next, you may still be at the beginning. For you, it is most likely also a once-in-a-lifetime thing. Since there is so much money involved in selling a house, you don't want to do anything wrong.

But what do you need to do first? What documents do you need? How should you set the price? What information does a buyer need? A mistake here can have fatal consequences for you and quickly push the price up or down by 10 percent. At the prices between Schwaz and Landeck, only 10 percent can quickly add up to 80,000 euros or even more. If you sell with such a mistake, you may regret it for the rest of your life and be angry about this mistake.

To ensure that this mistake does not happen to you, I have endeavoured to provide you here with our "House Sale Checklist". In it you will find the answers to exactly the following questions:

• The first steps before selling a house: What do you do in the house at the beginning?
• What documents do you need for the house sale?
• For what and when do you need a notary or lawyer?
• What information do you have to provide to the seller when selling a house?
• What is the process of selling a house with an estate agent?
• How does the house sale work without an estate agent?

You only need 18 minutes of reading time for this article. But it can certainly save you a lot of trouble.

The first steps before selling a house: What do you do in the house at the beginning?

Before you can get started with the house sale, you need to make sure that everything is ready for it. You must not forget: It is probably not only about a once-in-a-lifetime sum for you, but most likely also for your buyer. The same applies to a house as to food: The eye "buys".

You should "spruce up" the house as much as possible:

• Completely clear out, clean and purge the house
• Mowing the lawn
• Weeding etc.

What documents do you need for the house sale?

Serious prospective buyers want serious sellers. After all, anyone who spends a lot of money thinks twice. If something in the process does not work smoothly, prospective buyers often turn away to be on the safe side. For the prospective buyer, it is usually not a loss. You can be sure that a potential buyer will always find a serious seller.

For you as the seller, however, the damage can be done quickly: If prospective buyer A might have paid you 750,000 euros for your detached house in Götzens, prospective buyer B might only bring 670,000 euros. And as a rule, very few of us have 80,000 euros to "give away".

Therefore, you should prepare these documents:

• Land register extract: As the owner of the house, you had already received one somewhere once. If you cannot find this current extract, you must request it from your competent district court for 15 euros.
• Building decision: The building decision is part of the building file. It is essential that you or the former owner keep it. If you no longer have one, you as the landowner must request it from the competent authority (municipal authority in Innsbruck or municipality in the other parts of Tyrol). Exception: The house was built before the 2nd World War. Then it may even be that these documents are no longer officially available. However, an old building description (substance etc.) can then (at least partially) replace this document.
• Building plans: You must keep the building plans that show the current approved status and are also noted in the building decision. If they are no longer available, you will also have to go to the authorities, which is more time-consuming. For older buildings, the same applies as for the building permit.
• Use permit according to the legal situation on the date of construction: This document proves that your house may also be used as a residential house. After completion, you had to apply to the municipality for permission to use the house.
• Energy certificate: The energy certificate must be presented to the buyer and must not be older than 10 years. If no current energy certificate is available, they must have one prepared. Master builders, architects, plumbers, electricians and other tradesmen in Austria are entitled to do so.

For what and when do you need a notary or lawyer?

In Austria it is even possible for buyers and sellers to draw up the purchase contract themselves. Even the certification of the contract does not have to be done by a notary, you can apply for it directly at the district court. Theoretically, you do not need a notary or a lawyer.

However, as a state-certified real estate agent and court-certified real estate appraiser with more than 1,000 purchase transactions under his belt, I must advise you quite clearly: It is better to use a lawyer and or notary. Although it is customary for the buyer to draw up the purchase contract (or have it drawn up), you should definitely have it checked. Legal subtleties such as that the change of ownership does not happen with the signing of the purchase contract or the receipt of the money are only the tip of the proverbial iceberg.

The change of ownership is completed directly with the entry in the land register. If, in the worst case, you had already submitted and executed the change of ownership, but had not yet received the money, this could result in a disaster. However, before you get too scared about the legal aspects: The risk in the process is usually higher for the buyer (more mistakes happen for this side). However, you should also play it safe as a seller.

It is much more important for you as a seller: The signed offer of the prospective buyer must be legally binding and should already contain the essential points of the contract. Then you as the seller are on the safe side.

What information do you have to provide to the buyer when selling a house?

The most important thing is, of course, the price. This should be neither too high nor too low. Otherwise you will not receive any serious offers to buy. Ideally, a professionally qualified real estate appraiser will prepare an expert opinion. Then you can be sure not to sell below market value.

Should you now be thinking: "Then I'll just call up with a very high price to be on the safe side". I'm sorry to disappoint you. Professionals constantly observe the market. They will notice if you have been trying to sell a property for a very long time. Then these real estate professionals push your price down into the bottomless pit with cheap offers. The house is "broken" on the market, so to speak, and the price spiral turns downwards - despite a good market situation.

But apart from the price, which I have highlighted here, there are of course a few other mandatory details that you must not forget under any circumstances.

List of necessary details when selling a house:

• Price
• Year of manufacture
• Land register encumbrances: You are obliged to state whether third parties still have rights to the property here. This could concern, for example: Prior notices, restrictions, restraints on disposal, mortgages, land charges or mortgages. If a third party has rights of any kind to the property, you may not withhold this from the buyer.
• Defects and damage: If you are aware of any defects or damage to the house (especially if the buyer cannot see them with the naked eye), you must state them explicitly.
• Pending litigation: If you are in dispute with a third party regarding the property, you must also disclose this to the buyer.
  
• any natural hazards: If the house is located in a hazard zone, this must be noted for the buyer.
• Tanning: If there is no sun at all in the house for a while in winter, you must indicate this.
• Developments: You need to clarify which supply and disposal lines, as well as road developments, are available and whether everything is legally secured.

Of course, it is good if you also tell the buyer this verbally. But especially when it comes to such sums as a house sale, please do everything in writing. This is the only way you can really prove all the details and have fewer risks later on if the buyer tries to sue you. In addition, I really recommend that you make sure that all the points on our "House Sale Checklist" have really been worked through and that all the documents are available.

What is the process of selling a house with an estate agent?

With an estate agent, the process is relatively simple for you. He or she should have his or her own "house sale checklist". First you need to choose an estate agent. However, you need to be careful when choosing your estate agent. To distinguish a good estate agent from a bad one, I will give you the following requirements or tips:

1. Look at references (Google ratings and testimonials on its website).
2. Look at the properties he has already sold. Are these properties comparable to your house?
3. Does the broker have the appropriate training? The broker's examination is compulsory, but ideally he has experience as an appraiser and legal training. Because the most important thing for the seller is that a good purchase offer is also legally binding. It has to be formulated properly so that there are no surprises.
4. What marketing skills does the estate agent bring to the table? Look at the pictures of his reference properties. Are the photos good and appealing? Are the properties well presented or are comparable properties better presented on the platforms?
5. My secret tip: Pay attention to your gut feeling! That usually doesn't fool you.

If you now think you have found a broker, you should proceed as follows:

Step #1: Send the agent some key data about your property.
Step #2: Make sure he has actually prepared for the viewing appointment
Step #3: Now you have to place the broker's order. It is best to give the agent a power of attorney so that he can check the documents with the building authority.
Step #4: Actively request the exposé that the real estate agent has prepared and carefully check whether all the information is correct.
Step #5: Also check the details of your property in online advertisements, newspaper advertisements and on the estate agent's website.

If you have engaged a reputable estate agent, you should not have much to do from now on. To put it bluntly: You can actually ignore our "house sale checklist". Your estate agent will guide you through the sales process. All you have to do is decide on a buyer and find a date for the signing.

"Checklist house sale" without estate agent: How does it work?

If you are selling your property without an estate agent, the process is a little more complicated. I strongly advise you to use the "House Sale Checklist" prepared here. However, I would also like to explain the entire process to you in an overview so that you can find your own way here.

Step #1: You will need all the documents and information mentioned above in the "House Sale Checklist" (year of construction, usable floor space, land register encumbrances, defects, natural hazards, building plans, developments, etc.).

Step #2: Check them carefully and accurately for completeness and (legal) correctness.

Step #3: Set a price.

IMPORTANT TIP: The price must be in line with the market, otherwise you will trigger a downward price spiral (see also the explanation earlier in this post: click here!).

Step #4: Prepare the marketing! The first thing you should do is take good photos of your house. The property should be brightly lit and easily visible. Make sure that the "eye-catchers" of your house are shown in the best possible way.
Secondly, you should also digitise all important sales documents for marketing purposes. Energy certificates and especially floor plans, for example, ensure a high level of seriousness on real estate platforms. It shows that it is important to you to provide the buyer with all the necessary documents.
In third place now comes the copywriting: Only a property with a meaningful sales text in the advertisements (real estate platforms, newspaper advertisements, social media, etc.) sells well. Texts that leave potential buyers with too many questions are a deterrent. Texts that are too boring do not attract enough attention.
Once you have all this together, you can put together an exposé for your house (you give these documents to prospective buyers at a viewing or send them in advance) and prepare your advertisements.

Step #5: Now market your property! Now upload your documents to the real estate platforms where you want to book advertisements and fill in all the necessary details. Call the newspapers and book the advertisement for your property there. Important tip: Don't be alarmed if you don't see your ad immediately online. Often you have to pay in advance and only when the money has arrived and been allocated will your ad actually be visible.

Step #6: Viewings , viewings, view ings. Once you've listed your house on the right platforms, you'll probably start receiving enquiries. Now you need to meet with prospective buyers and show them the property. Remember: for the buyer, it's probably the biggest expense of their life. Therefore, you should take plenty of time for everyone and answer their questions in detail.
To avoid a negative surprise for you: Be prepared that a serious prospective buyer will probably want to see the house two or even three times before they buy. However, due to the amount of time this could take, you should already screen out the prospective buyers without a real intention to buy from those with a true intention to buy. Otherwise you will literally make "many empty kilometres".

Step #7: Now check the creditworthiness of your true prospective buyer! A serious prospective buyer also brings enough financial strength for the purchase. Unfortunately, not everyone who wants a house can afford it these days. However, you have to make sure that you really get paid in the end. Otherwise, you will end up with less at the end of the sales process than you had before. Therefore, you should definitely check the creditworthiness of your buyer (or have it checked).

Step #8: You need a legally binding purchase offer! A good purchase offer already regulates the essential contractual points for you and is also legally binding. This means that once the buyer has signed it, it is also valid and he cannot simply withdraw his offer. Since the actual purchase contract will be drawn up by the buyer or his lawyer, it is important that you formulate the purchase offer in an appropriately watertight manner. This is the only way to be on the safe side.

Step #9: On the basis of the purchase offer, the buyer can now draw up (or have drawn up) the purchase contract that is ready for entry in the land register. This must be certified and signed by all parties. Then your house changes ownership.

Conclusion: With or without a broker - watch out for legal pitfalls!

I hope that this detailed article has provided you with a good checklist for selling your house. Especially when selling a house in the high-priced province of Tyrol, the economic damage that a wrong approach can cause is often immense.

My aim was to show you with our "Checklist House Sale" how you should proceed seriously in order to be able to sell a little more safely from a legal point of view. Because regardless of whether you want to sell with or without an estate agent, the stumbling blocks are usually of a legal nature and the damage caused can, in the worst case, no longer be undone.

A reputable broker can help you in this regard. Of course, I also know that the reputation of our industry has suffered in recent years. That's why I've also written a quick guide here on how you can recognise a good broker.

Of course, I did not write this article without marketing in mind: If you liked this article and have decided to sell with an estate agent. Then I would be pleased if you let me or another member of Arealita Immobilientreuhand und Sachverständigen GmbH advise you. With our decades of experience, we guarantee you a highly serious and trustworthy transaction.

So if you have any further questions, don't hesitate to contact us: Via e-mail(immobilien@arealita.at), via telephone(+ 43 512 580 242) or via contact form(click here!).

Yours sincerely,
Yours sincerely, Bernhard Großruck

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