A well-prepared home sells faster and holds its price better. Here's what to get ready before you list.
Documents
- The title deed (house) or the condo unit title.
- ID cards and house registration books for every owner named on the title.
- Marriage or divorce certificates, or a name-change certificate, if any.
- Condos: a debt-free letter from the juristic person, requested well before transfer day.
If you still have a mortgage
You can still sell without paying it off first. Ask your bank for the redemption amount and have the bank redeem the title at the Land Office on transfer day. Part of the buyer's money clears the loan and the rest is yours.
Taxes and fees sellers usually pay
- Withholding income tax, worked out from the appraised value and the years you've owned it.
- Specific business tax of 3.3% if you've owned it under 5 years, unless you've been on its house registration for at least 1 year.
- Stamp duty of 0.5%, instead, when specific business tax doesn't apply.
- The 2% transfer fee on the appraised value, as agreed with the buyer, often split half and half.
Get the home ready for photos
Clear the clutter and fix the small, visible things: a dripping tap, a dead bulb, a stain on the ceiling. Open the curtains and turn on the lights. A good first photo gets noticeably more people to click.
Setting the price
Look at what homes actually sold for in the same project and area, not what others are asking. An overpriced home sits, and usually ends up cutting more than it needed to.
Taxes and fees change with government measures. Check with the Land Office or our team before transfer day.