Are you planning to leave Cayman? Here are some helpful tips for selling your property and maximizing profits from your Cayman Islands investment.
It can seem a challenge to negotiate and secure your asking price so finding an experienced real estate agent to list your home is highly recommended. Milestone Properties is dedicated to listening and understanding our clients’ needs and to offer a complete service in order to guide you through the entire process of selling any Cayman residential real estate or beachfront homes for sale in Cayman Islands.
We act for you ever step of the way with years of global expertise, local knowledge and a comprehensive understanding of the Cayman real estate market, so that you can make informed decisions about your property sale.
Milestone Properties is also a Member of the Cayman Islands Real Estate Brokers Association (CIREBA) which, with over 170 agents, is the largest real estate association in Grand Cayman. Its unique multiple listing system includes all member’s listings and Cayman homes for sale in one easy location. What this means is that your property or Cayman land for sale will be quickly and widely accessible to a great number of potential buyers. All members commission rates are also determined by the association.
Consider your time frame and work closely with you realtor on the correct pricing strategy for your Cayman residential property. If priced highly compared to comparable properties it is likely to sit with little or no interest. Priced to low and potential buyers looking to invest in Cayman may get the impression that there is an issue with the home.
In the end a home is only worth what the potential buyer is prepared to pay so having a clear understanding of what your property’s fair market value is as opposed to what you think it is worth, is very important.
Milestone will cross reference the prices of recently sold and similar properties in the area. By closely reviewing comparable sales and the current market conditions a realistic sale price can be established and be the bases for negotiations with potential buyers.
What can you do to help the process along?
Repair things that are broken, remember that cleanliness counts and consider if upgrades are needed. Buyers are usually impressed by upgrades such as new appliances. It is not about investing money that you will not make a return on but about making sensible decisions that can help your property to sell at your asking price. For example, fresh paint or changing out hardware finishes like cabinet and door knobs is relatively cost effective and can have a great impact on how a property is perceived and potentially what someone is prepared to pay.
It is important for potential buyers to be able to imagine themselves living in the property and so a less is more attitude is a good rule of thumb. By removing clutter and de-personalising, the property may show better.
First impressions are also important, take an objective look at the exterior of your home, does the garden look neat and tidy or is there anything that you can do to improve the curb appeal. Small changes such as trimming hedges and trees or pressure washing the driveway can make a big difference.
It can be a challenge to be objective and take the emotional side out of selling your property so maybe consider hiring a professional stager. In fact, the Milestone Properties agents are fantastic stagers and enjoy giving your home the must-live-here appeal. This can be a great way to get a fresh perspective on how to make the home shine. A well showcased home will often end up being sold for a higher price.
Ultimately, with so many considerations it is essential to use the expertise of a realtor such as Milestone to expedite the sale in an easy, uncomplicated and the most profitable manner possible.