The sales process step by step.
Umida Lumsden
Umida Lumsden
A brief and simplified explanation of the process of selling a property:
Step 1 - The Offer
When the buyer has decided to buy your property, delivery of the Offer will occur. This is the legal mechanism used for the buyer to inform the seller that they are interested in purchasing the property and the price they are willing to pay.
The Real Estate Agent of the buyer is the person in charge of guiding the buyer in creating this document. This Offer must incorporate the approval letter for the mortgage if applicable. If the purchase is to be made in cash, it must include a bank statement corresponding to the funds to be used by the buyer.
Step 2 - Acceptance of the Offer
If the Offer is agreeable to you, instructions will be given to a "Title House" to create all pertinent documentation regarding the transfer of the property; specialized lawyers do this. To do this, the buyer must reserve the property he wishes to buy by paying a percentage of the amount, which usually ranges between 5% and 10% of the final amount of the Offer. This money is placed in a security deposit (Escrow Money Deposit). If it is a building in the pre-construction stage, the procedure could vary.
Step 3 - The Closing
Once the lawyers have thoroughly studied the property's title, a date will be set for the signing of the sale contract. At the time of signing, the buyer will deliver the payment for the remaining amount, and the seller will transfer the title to the new buyer.
With a commitment to excellence, personalised service and an in-depth understanding of the Palma property market, Umida Lumsden guides her clients through every stage of the buying and selling process.
Her approach combines professional advice, commercial insight and advanced real estate marketing strategies to showcase each property at its best, highlight its unique features and connect with the right buyers.
For homeowners looking to sell, Umida develops a tailored marketing strategy designed around the individual characteristics of each property, ensuring an exceptional presentation and maximising its appeal in the market.
For those looking to buy, she offers a discreet and personalised service, identifying opportunities that match their preferences, lifestyle and objectives, with the aim of finding more than just a property: a place to call home.
Her philosophy is built on trust, transparency and dedication, delivering a seamless and professional real estate experience that exceeds expectations.
Because every property is unique, and every client deserves exceptional service.
What if you increase the value of your property?
The condition of your property plays a crucial role in your visual assessment. The property must be renovated to impress potential buyers.
What's the price of my property?
Defining the sale price of the property is vital to start the sale process, and it is when the help of a qualified REALTOR® is essential.
Do I need to sell first in order to buy?
The real estate advisor will ask you a series of critical questions during the initial meeting to advise you on, depending on your situation, what is the best way to do the operation. So that you are prepared, I share some examples:
