The smooth transition of the real estate is a big challenge which must be completed in order to get mental satisfaction and the real output from the process. When you are selling your current real estate, there must be some steps which must be followed, accordingly, for the smooth transition of the real estate to the next buyer.
- The current holding must be sold at the highest possible price, after settling the mortgage charges, legal charges and brokerage charges, if any.
- The next price must had been finalized before the transfer of title of the current real estate.
- The brokerage house or real estate broker must secure the complete price of the current real estate holding before selling to the next ownership, safely, through the bank.
- The price and other terms & conditions of the proposed real estate must be settled, accordingly, after detailed negotiations between your broker and the broker of the owner of the next real estate.
- All the legal requirements must be completed, such as, the payment of required or accrued taxes, the payment of the brokerage fees and other legal requirements to transfer the title to the next real estate owner.
- The last step in the smooth transition of the real estate is the transfer of the settled amount in your bank account.
If any of above mentioned steps of the transition are not followed, it may cause legal or financial complications. So, make a list of all such requirements for the smooth transition and make it certain to complete all of them.