8 tips to help you sell your property more effectively

1. Before you start

Before you begin your real estate sales project, it's important to get informed about market trends. It's a good idea to take a look at prices in your area, and consider current interest rates to see if it's the right time to sell. 

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The location of your property has a major influence on the selling price. For example, a property will generally be more expensive in a large city like Brussels than in a rural area. It's therefore important to take into account the attractiveness of employment in your area, as well as the surrounding environment, such as proximity to town centers, schools, shops and transport.

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It's also essential to know why you want to sell. Do you need more space, do you want to move to another region or change jobs? Knowing what really motivates you will help you sell your property more easily and promote it more effectively.

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The real estate market can be complex and depends on many factors, such as interest rates and financial constraints. If rates are low, the real estate market can be more attractive to potential buyers, whether they're looking to live there or invest in a rental property.

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2. Set the selling price

It's important to set the right selling price for your property. A property that's too expensive can go for a long time without finding a buyer, while one that's too cheap can cost you money. It's therefore advisable to compare your property with similar properties in the same area to get an idea of market prices. You can also use online ads and agency windows to get an idea of prices, but don't forget to take into account all relevant criteria. It's also always advisable to have your property appraised by a professional to get a more accurate estimate.

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3. Required documents

General documents

Whatever the property you are selling, there are several documents to provide: 

• Title deeds
• Planning information
• DIU

Documents specific to co-ownership

1. Before signing the compromise

• The amount of working capital
• The amount of any arrears owed by the seller.
• The status of calls on the reserve fund approved by the AGM prior to the transfer of ownership.
• A list of any legal proceedings in progress.
• The minutes of the ordinary and extraordinary AGMs for the last three years, as well as the periodic statements of expenses for the last two years.
• The latest balance sheet approved by the AGM.

2. At the latest when the deed is signed.

• Before signing the deed of sale, the new owner must be aware of the decisions and costs decided by the general meeting of co-owners, which he or she will be required to pay.
• Conservation, maintenance, repair and refurbishment costs.
• Calls for funds and the cost of urgent work that has been decided.
• Expenses relating to common areas.
• Co-ownership debts arising from disputes.

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4. Necessary certificates

Energy certificate

The building energy performance certificate (PEB), which assesses a building's energy performance under standard conditions of use and contains recommendations for improvement, is mandatory in all three regions.

Certificate of conformity for electrical installation

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For the sale of a dwelling, the seller must have an inspection report on the electrical installation. This document must be supplied by an approved body (see list on the FPS Economy website). The cost of this certificate is between 125 and 170 euros.

Oil tank certificate

There is no explicit obligation to mention the type of heating system in the property for sale. However, it is considered part of the information the seller is expected to provide. In the case of an oil-fired heater, the tank capacity, location and year of installation should be indicated.

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Asbestos certificate

As of November 23, 2022, any seller of a home built in Flanders before 2001 will have to include an asbestos inventory certificate in his or her file.

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Soil pollution

Another essential document for selling a property is a certificate proving that the soil on the land or house is not polluted. Each region has its own rules on this matter.

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In the Brussels region, the IBGE is responsible for issuing the soil certificates required for all transfers (sale, usufruct, right of use) of land or buildings.

In the Walloon Region, the certificate is a certified extract from the Banque de Données de l'Etat des Sols (BDES). The data can be accessed on the website.

In Flanders, OVAM is responsible.

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5. Warn your tenant

‍Theproperty you want to sell is occupied by a tenant?

If you are a landlord and wish to sell your property that is currently occupied by a tenant, you should know that you have the right to organize visits and advertise the sale of your property. However, it's important to remember that the conditions and times of visits must be agreed with the tenant, and that you never have the right to enter the property without his or her consent.

Can the new buyer terminate the lease?

As far as the new buyer's termination of the lease is concerned, this will depend on the duration of your lease contract. If the lease has a date certain, the new owner will be bound by all the obligations associated with the contract. If the lease does not have a date certain, the new owner will be able to terminate the lease under certain conditions, depending in particular on the length of time the property has been occupied.

If the lease contract does not have a date certain, there are 2 different situations...

If the property has been occupied for less than 6 months, the new owner may terminate the lease without giving any reason or compensation. If the premises have been occupied for more than 6 months, the new owner will have to give shorter notice, depending on the region in which the property is located. 

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Please note that a dismissal without cause is possible for a fee.

6. Enhance your property

Before putting your property up for sale, it's important to present it in an attractive and welcoming way to potential buyers. The aim is to help visitors project themselves into their new home.

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To optimize your chances of selling, adopt a clear, minimalist style. The idea is to make it easy for potential buyers to imagine their own style in the house.

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In addition, a few simple improvements, such as repainting the walls in white or a more neutral color, or adding decorative accessories such as colorful plaids, rugs or cushions, can have a small effect. The aim is to offer an attractive, consistent image of your property, without requiring a major investment.

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7. Organizing visits

To sell your property effectively, there are several elements to consider. First of all, it's important to present your property in the best possible light. Clean and tidy your property meticulously to show off the available space and create a pleasant atmosphere for visitors. It can also be beneficial to use a home staging strategy to give your property a modern, attractive look.

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It's also important to be transparent about your property's strengths and weaknesses. By being honest and open about its imperfections, you can avoid unpleasant surprises and help potential buyers make an informed decision.

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Finally, if you receive offers that don't match your expectations, don't hesitate to make a counter-proposal to reach an agreement. However, make sure you assess the value of your property before negotiating, so that discussions are constructive and based on solid data.

8. The offer, the compromis and the deed of sale

The 2 parties' commitment 

The offer to purchase is a legal act binding on both parties. If the seller accepts the price proposed by the buyer, both parties are obliged to proceed. If the seller receives an offer to purchase at the price he has set, he is obliged to accept it.

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The role of the notary

Once the offer to purchase has been signed by the seller, it's time to contact your notary. The notary's office will verify the agreement and begin the necessary steps to sign the compromis de vente, a crucial document. As well as binding the two parties, this document is used by the notary to draw up the deed of sale. We strongly recommend that you sign the compromis de vente in a notary's office, as this guarantees the legal security of the transaction, and also offers you free accidental death insurance covering the period between the compromis and the deed of sale.

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When signing the compromis, the seller requires a guarantee from the buyer, often equivalent to 5 or 10% of the sale price. This guarantee is held by the notary until the signing of the deed of sale, to protect both parties. The buyer can be sure that this amount will not disappear, and the seller can be sure of the buyer's commitment.

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Once the compromise has been signed, the notary's office will continue the process and prepare the deed of sale. The notary must carry out all the necessary investigations to guarantee the legal security of the transaction for both sellers and buyers. He will check the identity and capacity of the sellers, the mortgage status of the property, and carry out mortgage, tax and town-planning searches. He will also make sure that the seller provides the buyer with a series of documents, such as the dossier d'intervention ultérieure, the state of the electrical installation, the certificat de performance énergétique, the certificat de non-pollution, and so on.

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Once the loan has been approved under this condition, the notary will set a date with the seller and buyer for the signing of the deed of sale. Once the deed has been signed, the notary will register it by filing it with the Registration Office, where he will also pay the registration fees due to the State. The deed will also be deposited with the Bureau de Sécurité Juridique for transcription, so that it can be set up against third parties. Finally, the notary will give the buyer his copy of the notarial deed, which constitutes his title deed.

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Conclusion

All this may seem complicated at first glance when you want to sell your property. Don't panic, BrickSquare will be at your side throughout the selling process: to start with, a BrickSquare agent will estimate the value of your property and help you gather the necessary documents and certificates for the sale.

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Once the property is officially listed for sale and on the market, the BrickSquare agent will organize visits for you and give you advice on how to show your property to its best advantage. He or she can also arrange visits for you if required.

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If the visits are successful, you will receive one or more offers to purchase your property. Here too, BrickSquare will be there to assist you. Trained as lawyers, BrickSquare's founders will be able to advise you on the offers received, as well as on the compromis and the deed of sale. 

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BrickSquare will provide you with top-quality advice from start to finish, to ensure that you get the best price for your property, under the best possible conditions.