An urgent property buyout often seems more complicated than it actually is. The owner does not need to renovate first, prepare the apartment for viewings or look for a buyer.
In a direct buyout, Vendor itself acts as the buyer, and the whole process can be divided into several clear steps.
1. Request and apartment information
To start, it is enough to provide the basic information about the property: address, size, apartment condition and a few photos.
A request does not oblige you to anything. It is needed for a preliminary analysis of the property.
2. Valuation and offer
Vendor analyses the property and real transactions with comparable apartments. Based on this, a preliminary buyout offer is formed.
Usually, the offer can be received within 1–2 days.
If the owner is satisfied with the amount, we move to the next step. If not, the offer can simply be declined.
3. Document check
Before the transaction, we check the property details, owners and possible encumbrances.
If the apartment has a mortgage, debt or other specific circumstances, we first clarify how they can be taken into account when completing the transaction.
4. Transaction at the notary
After the terms are agreed, a notary transaction is scheduled.
With an urgent buyout, there is no need to wait for a third-party buyer to obtain bank financing — Vendor itself is the property buyer.
In a standard situation, the whole process from the first request to the transaction usually takes 5–7 days.
What about commission?
With a direct buyout, the seller does not pay a broker commission. The owner knows the offer and deal terms in advance and decides whether this option is suitable or not.
Article author
Leads the urgent property buyout direction and helps owners quickly receive a clear offer for their apartment.
