How you can optimally sell an apartment house
In a series of articles, we provide tips and considerations for those who want to or need to sell their apartment house or rental house, i.e. a multi-family house, or are basically considering such a thing. Even though we are real estate trustees in Austria, our tips apply generally in German-speaking countries for anyone selling an apartment building.
It should also be noted that we also offer a free initial consultation on the topics presented.
Introduction
The sale of an apartment house does not happen very often for most owners. This makes it all the more advisable to have an expert at your side. We support our clients with our detailed knowledge, network and profound market expertise. And last but not least, with our passion for real estate and apartment buildings in particular.
The possibilities at a glance
What is the best way to sell an apartment building? There are four possibilities, sorted in order of professionalism, starting with the "do-it-yourself" method and ending with the most professional method with the best chance of achieving the highest price:
Sell yourself, so nowadays mostly online
a discreet sale through a broker
via auction and
a bidding process
1. sell yourself
Doing it online has some disadvantages and risks: First, you will receive countless inquiries from brokers and questionable prospective buyers with unclear creditworthiness. Second, interest and rental houses that are put online are considered "second choice" properties that could not be sold "offmarket" before and had to be put online now.
Either way, you have the effort with the preparation of documents such as Expose, photos, then the appointments, the numerous visits. In addition, you have to think about the purchase contract, the liability and warranty for defects, the land register registration, the real estate taxation, i.e. many legal or technical aspects where lawyer, tax advisor, notary or construction technician belong coordinated.
2. discreet sale via real estate agent
With the discreet sale of your apartment house via a real estate agent, a broker takes this effort off your hands and handles it for you professionally and quickly. You then only decide to whom and at what price you want to sell your apartment house. And you don't have to worry about anything during or after the sale. By the way, this is the classic, most common method of sale. Our team also offers this service and is supported by lawyers, tax advisors, notaries and building technicians and you get a professional service from one source.
3rd auction
At an auction, potential buyers gather who have been comprehensively informed about the apartment house or several apartment houses beforehand. With the auction and the award to the highest bidder, the sale is completed. This type of sale is used from time to time, especially when prestigious or even a package of apartment buildings are put up for sale in a way that attracts public attention and without time pressure.
4. bidding process
The bidding process has become increasingly popular in recent years - at least among sellers. This works in such a way that the interested parties submit their sealed purchase offer at a fixed deadline and address. When the deadline expires, the offers are opened there and the top-ranked interested parties can then improve their offer again (once or several times). Such a bidding process is often used for apartment buildings in sought-after top locations or if the house belongs to several parties who attach importance to a transparent sale.
Tip
Those are basically the four ways you can sell your interest or rental home. Selling on your own involves a lot of effort and some pitfalls that you have to take into account. We can advise and actively support you on all sales methods, i.e. from finding a buyer, marketing, purchase contract, signing to handing over the keys.
Would you like to receive free, non-binding advice on your apartment building?
Then simply contact us.