Find a qualified real estate professional to handle the sale.
Stay up-to-date on all regulations, policies and restrictions involving your second home.
Consider dividing the property to maximize its value.
Did you know?
You should use a trustworthy local professional to help when selling long distance.
When the second home you are about to put on the market is some distance away from your primary residence, there are a few guidelines going into the selling process to keep in mind. The most important is unless you very actively keep up with zoning regulations, property restrictions, building codes and other property regulations in the community of your second home, you might miss out on how to maximize your profit in the sale.
Say you own a second home on a large tract of land that at the time you bought the house was the smallest developable plot in that community. Over the years the property use restrictions may have changed and your real estate is now much more valuable broken into several smaller plots to be sold separately, but unless you’ve actively followed the regulations affecting your second home you would have no idea this property division is even possible.
Put Real Estate Professionals to Work
If your second home is a rental, you likely have a local management company handle the day-to-day operations of the rentals. This team might be great for handling the property itself, but it’s not really their job to stay abreast of second home’s sales potential. The best way to ensure you’ve covered all the sales options with your property is to enlist the help of local professionals such as real estate agents and attorneys specializing in real estate.
Make a thorough search for real estate sales professionals, and be sure to seek out multiple opinions on how to handle the property before putting your second home on the market. Making sure you understand all the sales options up front will help generate the maximum profit from the sale of your second home.