The real estate market in Nigeria is influenced by several factors like location, economic conditions, property types, and legal requirements. As a Nigeria home seller, you need to understand how the interplay of these factors affects the sale of your house so that you can use them to your advantage.

In this post, we examined the fastest way to sell a house in Nigeria. We also documented the essentials you need to put in place before putting up your house for sale.

How To Sell A House In Nigeria In A Short Time

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Understand The Nigerian Real Estate Market

Your first task as a Nigeria home seller is to understand the Nigerian real estate market. The Nigerian real estate market is influenced by economic factors like inflation, the purchasing power of buyers, and interest rates. When the economy is down, buyers tend to be scarce. As a result, you may be unable to sell the property at your desired price.

Another critical factor that affects how fast you sell a house in Nigeria is its Location. Buyers prefer properties with good road networks, security and access to essential amenities that make life easier.

The interests of buyers are also influenced by the type of property. For example, young professionals would be okay with apartments while larger families would need duplexes or storey buildings. Before putting up your property for sale, ensure you understand your target audience and tailor your market strategy appropriately.

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Set The Right Price

The price of your property plays a major role in determining how fast your house goes off the market. An overpriced property will deter potential buyers who want to get the house. On the other hand, an underpriced house will cause you to lose money.

When setting a price tag for your house ensure you conduct a comparative market analysis. In simple terms, comparative market analysis entails researching the selling price for similar properties in the area. Better still, you could employ the services of a professional real estate valuer. They will conduct the ground work and help you set the best listing price for your property.

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Ensure You Have The Right Legal Documentation

Most buyers in Nigeria are hesitant about getting properties with incomplete documentation. This is because of the predominance of fraud, land disputes and ownership conflicts. Before listing your house for sale, get all legal documents and ensure the property is properly registered.

One of the most important documents you should have is the Certificate of Occupancy (C of O). The C of O is proof of property ownership issued by the Government to property owners. Without a valid C or O, it will be difficult for you to get buyers for your house.

Another document you should have in your collection is the Deed of Assignment. If the property was transferred to you from another owner, the deed of assignment proves that you now own the property. A missing or improperly drafted Deed of Assignment can lead to legal disputes and delay the transaction.

Other properties you need to obtain include the survey plan and the approved building plan. These prove that the building is not on a property trespass and there is no risk of the building getting demolished. By ensuring all these documents are in place, you can easily earn buyers' trust. As a result, it will be easier for you to sell your house fast.

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Work With A Reputable Real Estate Agent

Working with a real estate agent can speed up the process of selling your house in Nigeria. Real estate agents have a wide network of buyers, sellers and fellow agents. They can easily leverage this network to connect you with potential buyers.

Reputable real estate agents are also vast in real estate market trends, pricing strategies and legal requirements. They will actively use these skills to screen potential buyers and screen out unserious ones. This ensures you have a smooth transaction with your house buyer.

Aside from screening buyers, they can help you handle the challenging demands of negotiations. Most real estate agents understand the psychology of negotiations. This helps them to seal the best deal for you without scaring away buyers.

When you leverage the expertise of professional real estate agents, you can avoid common mistakes and reach a wider audience. Hence, helping you to sell your house faster.

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Make Necessary Repairs and Upgrades

The condition of a property determines how fast it attracts a buyer. Buyers often prefer homes that need minimal or no repairs. Most especially, after paying a lumpsum for purchase. Before listing your house for sale, ensure it is in the best shape possible.

Start with giving a good impression of the exterior of the house. Repaint the walls, clear the lawns and make the building look appealing. Ensure all holes in the walls are fixed and sealed. Also, pay attention to the doors and fences.

A well-maintained exterior gives a great first impression and reassures buyers that they are making a good investment. A property that looks outdated or unkempt would make buyers hesitant and could reduce the property's price significantly.

Upgrade the interior furnishings and fittings to make it more welcoming. Minor upgrades to the kitchen cabinets and bathroom fittings would go a long way in increasing the perceived value of your house. Hence, causing it to sell faster.

Finally, pay attention to the light conditions. A well-lit house makes the property more warm and welcoming. Ensure that all bulbs and switches are functional, and leave enough room for natural lighting to flood the apartment. Similarly, ensure that all corners are clean and sparkling. A well-lit, dirty apartment will be a turn-off for potential buyers.

Conclusion

Selling a house in Nigeria is a demanding process that can sometimes be exhausting. As a real estate newbie, it could be tiring if you do not get help from professional valuers and real estate agents. In this blog, we examined the essentials you need to put in place so you can sell your house faster.

Land Republic is a foremost Nigerian real estate company that is committed to helping you excel in the real estate market. We have several resources that equip you to invest like a professional. If you need help getting started with real estate investment, contact us today.

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