How to Sell your Luxury Property in Malaysia

The majority of Mont’ Kiara property owners who have gone through the process of selling their homes often attest to the complex and stressful moments involved in it – from choosing the right agent to negotiating with interested parties, selling exclusive real estate is a fine art that frequently frustrates prospective buyers and sellers.

Here is a quick and easy guide on how to get a handle on the process if you are gearing up to sell your luxury home.

Work with Professionals

Seek the expertise of professionals to assist you – you will require a property valuer to determine the price of your property, an estate agent to market and sell your property, and a solicitor to handle the legal documentation. It is important to select a suitable team of professionals who can leverage on their market experience and industry knowledge to handle any complicated procedures. Criteria to look out for include their track record and areas of specialization.

Marketing your Property

Work closely with your agent to market your property using a huge array of tools such as signboards, advertisements, flyers, listing in property search websites, etc. Prep yourself and your property before any viewings for prospective buyers, which are usually conducted in the evenings and on weekends. The value and attractiveness of your property can be enhanced by carrying out a major spring clean or adding a new shine of paint or polish.

Accepting an Offer

An interested buyer will usually make an offer through your agent, who will provide advice on whether this offer is reasonable. It is up to you whether to accept it or not, and you can expect to be involved in some negotiations.

Some estate agents arrange for buyers to pay an earnest deposit of between two to three percent of the sale price, and sign a Letter of Offer to Purchase or an Agreement to Purchase. This deposit is then kept in the client’s account until the execution of the Sale & Purchase Agreement.

Sale and Purchase Agreement

Your solicitor will prepare the legal preparation and arrange for the implementation of the Sales & Purchase Agreement. The buyer pays the first 10 percent of the Purchase Price (less the earnest deposit), with the remaining balance payable to you within three months from the date of the Agreement or when it becomes unconditional.

With the property market getting back into full swing after the global recession, equip yourself with the best information about the sale process from the experts, and know what to expect in order to enjoy a smooth and profitable procedure.

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