SELLINGYOUR PROPERTY?

GUIDEFORANYONEWANTINGTOSELLPROPERTYINABACO

THISGUIDEWILLPROVIDEYOU

WITHTIPSANDPOINTERSON

HOWTOGETTHROUGHTHE

SALESPROCESSSMOOTHLY

ANDSELLINGYOURPROPERTY

ATABETTERPRICETHANYOU

EXPECTED!

REAL ESTATESeller’sGUIDE

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Selling Your PropertyHowtogetthemostmoneyfromyoursale

In2019wecelebrateour46thyearofserviceintheAbacoRealEstatemarket.DuringthistimewehavehelpedhundredsofclientsselltheirhomesandpropertiesinAbaco.Manyoftheseclientsreturnagainandagaintobuyorselltheirproperties,andquiteafewhavebecomeourfriends.

Oursmallteamofestateagentsprovidein-depthlocalknowledgeabouttheAbacosandweareenthusiasticallydedicatingourtalent,energyandcreativitytogiveyou,theclientthepersonalizedserviceyoudeserve.

OrGoalIsToGiveYouASuperiorExperienceWhileSellingYourPropertyAsFastAsWeCan

AslicensedmembersofTheBahamasRealEstateAssociation(BREA),BahamasMultipleListing

Service(MLS),NationalAssociationofRealtors(NAR)and

theAbacoChamberofCommerce,welookforward

toservingyou.

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The Selling Process

Itisimportanttochooseanagentthatyoufeelcomfortablewithandcancommunicateeffectivelywith.

WeprovideyouwithinfoonthecurrentrealestatemarketinAbacotomakeiteasierforyoutopriceyourproperty.

ChoosingAn Agent

SetAskingPrice

Presentation ListingAgreement

MLS

Afterthelistingagreementissigned,wewillimmediatelystartimplementingourmarketingschedule.

Ourdetailedmarketingplanwilloutlineeverythingwewilldotopromoteyourproperty.

WepresentyourpropertytoallrealtorsintheBahamasviaMLS(MultipleListingService).

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Part 1

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Wewillprovideyouwithalistofthingsyoucandoorhavedone,inordertomakeyourpropertyasattractiveaspossible.

Oursalesagentswillshowyourpropertytopotentialbuyers.Ifothersalesagentshavepotentialbuyers,wewilltrytobethereandhelpshowingtheproperty.

PreparingFor Sale

ShowingTheProperty

Getting anOffer

SalesContract

Closing

Onceanofferisaccepted,ourlawyerwilldrawupaformalsalescontract.Wewillcoordinatealleffortstomaketheprocessasseamlessaspossible.

Whenwereceiveanoffer,weimmediatelyinformyou.Thenwediscusstheprosandconsoftheofferwithyou,beforeyouchoosehowtorespondtotheoffer.

Oncealloftheconditionsofthecontractaremetandthetitleisclear,thetransactioncancloseandyouwillreceiveyourfunds.

The Selling ProcessPart 2

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Welistyourpropertyonour

websitesAbacoBahamas.com and

AbacoRealEstateAgency.com,and

ForGuanaCay:

RealEstateGuanaCay.com

WealsouseFacebook,Instagram,

Google+andYouTube.

Photos&Video

NewspaperandOnlineAds

Internet

Our MarketingOfYourProperty

Wetakephotosandmakea

HDvideoofyourhome.We

alsomakeaerialvideosand

photoswithourdrone.

Weadvertiseinthebiweekly

newspaperTheAbaconian

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Weplacea“ForSale”sign

onornearyourpropertyto

helppotentialbuyersfindit

iftheygolookingontheir

own.

SignOnYourProperty

OnGreatGuanaCayForGuanaCayProperties

wehaveourownnotice

boardintheHarbour,where

weputlaminatedpostersof

homesandlots.Wealso

haveaspecialwebsitefor

GuanaCay.

RealEstateGuanaCay.com

For

Sale

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What can YOU do? Part 1Tosellfasterandgetabetterprice?

Thehouseorpropertyyouwouldliketosellmustbesomeoneelse’sdreamcometrue.Doesitlooklikeadreamcometruetoyou?Isitinaconditionyouwouldliketofinditifyouwerethebuyer?

It’simportanttomakesureyourpropertylooksitsbestfromthemomentitgoesontothemarket.

Homestagingisoneofthemostimportantfactorsinsellingahome.Stagingahomeeffectivelycanresultinyourhomesellinginamuchshorteramountoftimeandforahigherprice.

Youcanfixmanyissues.Havethenecessaryrepairsdone.Replaceyourold,corrodedfaucetswithnewones.Orderapestcontrolifyouknowyouneedone.

Improvewhatisfeasibleandpossible.Doingthiswillmaketheentireprocessofsellingyourhousemuchmoreprofitableforyouintheend.

Mostbuyersformanopinionaboutahomewithinthefirst7-10secondsofarriving.Additionally,Over90%ofhomesearchesbeginonline.Makingsureyourhomeiseffectivelystagedbeforephotosaretakenforyourlistingwillsignificantlyincreaseyourchancesofselling.

AccordingtotheNationalAssociationofRealtors(NAR),theaveragestaginginvestmentisbetween1and3%ofthehome'saskingprice,whichgeneratesareturnof8to10%.That'saprettygoodinvestment.

Itcanbedifficulttoseeyourownhomewithfresheyes.Wewillgiveyouhonestadviceaboutwhatyouneedtodotogetyourhomeinsalesreadycondition.

“Stagingispreparingahomeforsalesothebuyercanmentallymovein.”

SellaHome,notaHouse

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MaintenanceDeepcleanthroughoutthewholehouse.Givespecialfocusonkitchenandbathrooms.Attendtoanyunfinishedhomeimprovementsprojects.

Depersonalization&RemovingclutterRemoveallfamilyphotosandpersonalitemsoutofsight.Thishelpsbuyerspicturethemselvesinyourhome,insteadofbeingdistractedbyyourstuff.

FurniturePlacementHighlightattractivefeaturesofyourhome,suchasacozyscreenedinporch.Keeponlyaminimalamountoffurnituretomaketheroomslooklarger.Suggestanddefinethefunctionofeachlivingarea.

EmotionalCuesDecoratethespaceinawaythatseemsattractiveandcozytopotentialbuyers,sotheyhavenoproblempicturingtheirnewlifeinyouroldhome.Artfuldetailssuchasbeautifullylaiddinnertableswithfreshflowers,andflowersthroughout,canhelpbuyersconnectwiththehouse.

Stagedhomesspenthalfthetimeonthemarketthannon-stagedhomesandsoldformorethan6%abovetheaskingprice.

You’llmakemoremoney.You’llsellfaster.TheNationalassociationofRealtors(NAR)surveyfoundthatthelongerhomesstayonthemarket,thefurthertheirpricedrops.

Youwillmakeyourmoneyback.TheNARsurveyalsofoundtheaveragestaginginvestmentisbetween1and3percentofthehome’saskingprice.Whichgeneratesahome-stagingreturnofinvestmentupto10percent.

Youronlinephotoswillstandoutandmakethebuyerwanttotakeatour.SomeNARsurveyfoundthat90percentofpotentialbuyerssearchonlinefirst.

Morereasonstostageyourhouse:

What can YOU do? Part 2

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Property Presentation Checklist Thisiswhatyoushouldconsiderdoingbeforeyoupresentyourhouseforsale.

Dust and wipe walls and baseboards

Clean ceiling fans

Declutter and depersonalize

Remove soiled and worn rugs and carpets

Clean window treatments

Replace damaged blinds

No personal items in Bathroom

Replace lightbulbs and outdated lighting fixtures

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Checklist continued…

Touch up paint on walls, or paint the entire room

Clean all windows

Consider hiring a home stager

Tidy closets

Remove excess furniture

Remove excess books and toys

Change drip pans on stove

Replace faucets and shower heads with spots

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The Cost of Selling PropertyThisisaguideforPropertyTaxesandPropertyConveyances

2,5%StampTax

onrealestate

transactions

under$100,000.

Normallyshared

withthebuyer

Tax

Normally2,5%

ofsalesprice.

AValueAdded

Taxof12%is

appliedonall

realestate

services.Commission,Appraisals,

Legalfees,Insurance,

Surveyingfees.

RealEstateCommission

LegalFees VAT

Pleasecheckwithyourlawyerforthelatestfees.TheGovernmentStampTaxisgenerallysharedequallybetweenbuyerandseller– unlessotherwiseagreed.Note:Lawsaresubjecttochangewithoutnotice.

Transactionsunder$100,000

TaxTransactionsover$100,000

Undeveloped

land:10%.

Developed

property(homes,

condos):6%.

Paidinfullby

seller.

10%onreal

estate

transactions

over$100,000.

Normallyshared

withthebuyer

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Thelistingpriceisthe“GrossPrice”.WhatistheNETpricetotheseller?

WehavetocomplywithBREA- BahamasRealEstateAssociation

directivesforgrossprice.

Thisishowwecalculatethetaxesandfees:

1. Thesellers payhis1/2StampTaxontheamountofthesale.

(1,25%under$100,000or5%over$100,000)

2. RealEstateCommissioninfull(10%forvacantlandor6%for

ahouseoracondo)plus12%VATonthecommission.

3. Theseller’sownLegalFees(2,5%)plusVAT12%ontheLegal

fees.

How much do the seller get?

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Listing Your Property Part 1Hereareyourlistingoptions:

ExclusiveListing – Youagreetolistyourpropertywithusforaspecifiedperiodoftime,andagreetopayustheagreedcommissionregardlessofwhoactuallysellstheproperty.

TheadvantageofthistypeofarrangementistheaddedexposureofyourhomeonMLS.(MultipleListingService).Allrealtorscansellyourhome,andthecommissionwillbesplitbetweenthelistingagentandtheactualsellingagent.AlllistingsontheBahamasMLSarealsosyndicatedtoRealtor.com International.

Withasignedexclusivelistingcontractathand,wecangoaheadandspendmoneyonmarketingyourpropertytopotentialbuyersandotherrealestateagents,whomightbringtheirowncustomers.

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OpenListing - Withanopenlistingyouagreetolistyourpropertywitharealestateoffice,butmayalsoagreetolistwithotherrealestateofficesand/orsellthehomeyourself.Therealestateofficethatsellsthepropertyreceivestheagreedsalescommission.OpenListingscannotbelistedontheBahamasMLS,andwillonlyappearonthewebsitesoftherealestatecompanieswithwhichitislisted.

WhatisTheBahamasMLS(MultipleListingService)?TheBahamasMLSisadatabaseofmorethan500licensedrealestateagentssetupbycooperatingbrokersthroughoutTheBahamas.Agentsshareinformationonpropertiestheyhavelisted.AllsalesagentscandisplaypropertiesfromtheMLSontotheirownwebsite– regardlessofwhotheexclusivelistingagentis.

Listing Your Property Part 2

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Contact InfoOurmainofficeislocatedinthe"PercyArcher"buildingonQueenElizabethDrive,300yardseastoftheonetrafficlight inMarshHarbour.

OfficePhone:2423672719FromtheUSAandCanadapleasecall:561-229-0045.

For Marsh Harbour and the rest of Abaco:BillThompson242-477-5712 billt@abacobahamas.comLydiaHill242-577-0016 lydia@abacobahamas.comWendie Bishop242-577-9910 wendiebishop@gmail.comMaureenSmith242-577-0763 fullcircel47@gmail.comJamesRees242-459-6822 james@abacobahamas.comRitchieEyma 242-426-9841 eymarealestate@gmail.comRoshanne Eyma 242-426-9842 eymarealestate@gmail.com

For Great Guana Cay:Michael Roberts and Unni Berg mikeyabaco@gmail.comCell: (242) 577-1507 or (242) 577-7511

For Great Turtle Cay:Kyle Stevens (242) 375-9271 kstevens242@gmail.com