If you are not a professional real estate person/agent, you are bound to go through hell if you have a property you want to sell. Or buy, for that matter. But buyers can be assured of a certain amount of security if they are dealing with reputed real estate developers. And Kochi being in a state of flux right now, with the impending Smart City and Metro Rail developments, both buyers and sellers are looking for bargains. Prices have shot up abnormally, stabilising to a tableau phase in the past couple of months. But sellers are still on their high horse, sure that the only way to go (for land prices) is up. Add to that the tentative 'fair prices' for land announced by the state, which is up for review. Quite high, by any standards. The govt wants to ensure that its coffers stay full, and that people do not try to trick it out its due (registration fees, taxes, etc.). But is the average buyer ready to bear the cost?
Well, amid all this hungama, here we are with our three-year-old villa on the market. Dealing with seasoned real estate agents has never been our forte. So what do we do when one such real estate agent (a retired policeman) approaches us to buy the house? He quoted a very low price at first, which we flatly refused; so he upped the quote by a straight Rs 5 lakh!! And he calls Abhi every day, asking to close the deal. Abhi is understandably reluctant; he has a gut feeling the guy is not all he seems to be, and he is wondering if this is some sort of trick. And now that there are other interested buyers, this guy is matching them quote from quote!!
Dunno what to do........ Waawaah
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Monday, 2 June 2008
Selling land? Be prepared for hell
If you are not a professional real estate person/agent, you are bound to go through hell if you have a property you want to sell. Or buy, for that matter. But buyers can be assured of a certain amount of security if they are dealing with reputed real estate developers. And Kochi being in a state of flux right now, with the impending Smart City and Metro Rail developments, both buyers and sellers are looking for bargains. Prices have shot up abnormally, stabilising to a tableau phase in the past couple of months. But sellers are still on their high horse, sure that the only way to go (for land prices) is up. Add to that the tentative 'fair prices' for land announced by the state, which is up for review. Quite high, by any standards. The govt wants to ensure that its coffers stay full, and that people do not try to trick it out its due (registration fees, taxes, etc.). But is the average buyer ready to bear the cost?
Well, amid all this hungama, here we are with our three-year-old villa on the market. Dealing with seasoned real estate agents has never been our forte. So what do we do when one such real estate agent (a retired policeman) approaches us to buy the house? He quoted a very low price at first, which we flatly refused; so he upped the quote by a straight Rs 5 lakh!! And he calls Abhi every day, asking to close the deal. Abhi is understandably reluctant; he has a gut feeling the guy is not all he seems to be, and he is wondering if this is some sort of trick. And now that there are other interested buyers, this guy is matching them quote from quote!!
Dunno what to do........ Waawaah
Well, amid all this hungama, here we are with our three-year-old villa on the market. Dealing with seasoned real estate agents has never been our forte. So what do we do when one such real estate agent (a retired policeman) approaches us to buy the house? He quoted a very low price at first, which we flatly refused; so he upped the quote by a straight Rs 5 lakh!! And he calls Abhi every day, asking to close the deal. Abhi is understandably reluctant; he has a gut feeling the guy is not all he seems to be, and he is wondering if this is some sort of trick. And now that there are other interested buyers, this guy is matching them quote from quote!!
Dunno what to do........ Waawaah
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