How to Sell an Apartments in Phuket – Price and Time Frame Estimation
If you want to sell your apartment in Phuket, we will be glad to help you.
The Process of Apartment Selling
To sell an apartment in Phuket you need to thoroughly investigate the unit, current real estate market in the region, estimate cost and selling terms, plan a selling strategy, sign contracts with agencies and do marketing.
To analyze the selling unit the following data is needed:
- Condominium features: location, construction year, maintenance conditions and fees, area facilities.
- Area features: distance from the beach, shopping malls, etc.
- Unit features: type of ownership (freehold / leasehold), floor space, the amount of bedrooms, level, view.
- A possibility of rental income; an existence of a hotel licence; an agreement with a managing company; income reports for the previous period.
- Photos of an apartment, a condominium, an area.
Basing on the provided information we make a unit description to send to potential buyers and partner agencies.
To sell an apartment fill in the form and we will contact you for further information.
After getting basic information, unit inspection by our agent and similar offers analysis we make a selling strategy. The strategy means cost estimate, taking into consideration commission and taxes, customer and market targeting, possible selling terms.
The strategy and agreement conditions are discussed with an owner. After that we begin to prepare a purchase/sale agreement and the agency starts to look for customers.
How Long Does It Take to Sell an Apartment in Phuket?
Phuket real estate market is characterised by the seasonal prevalence. Most deals are made from December to March. Usually sellers expect to sell an apartment within 6-12 months. However, the real term depends on the unit features and other offers on the market.
What is the Selling Price?
When selling an apartment we don’t recommend to sell with a big discount. We will estimate the real cost of selling and figure out the most important points to emphasize. An owner doesn’t need to be involved in the process. However, if a client will apply directly to an owner, it’s necessary to follow the selling strategy, give the price mentioned on agencies websites and barter only within the planned numbers.
It’s important to plan the strategy in advance and be prepared to make wise decisions.
What to Do With the Money After Selling an Apartment
If after selling an apartment you plan to transfer money from Thailand, you will need the documents proving the purchase and sale of the unit. You can transfer the same sum of money that you brought in Thailand without paying any tax. The bigger sum of money will be subject to tax.
You can reinvest in a new object. Rental programs became widespread a couple of years ago so you can buy a property with the fixed income in one of the new condominiums in Phuket. In case of reinvestment we can update the selling strategy and price.