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How to sell a property

10 main steps in the home-selling process in Riga

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When selling real estate, it is important to prepare all the documents needed for the upcoming sales process. Prepare the Land Register certificate as proof of ownership and information on encumbrances, obtain the cadastral survey file and the floor plan, and for a private house also prepare the land boundary plan.

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You need to understand the taxes and costs associated with selling real estate. Find out whether you will have to pay capital gains tax on your property. Check whether the property is fully owned by you. Determine whether you must offer the right of first refusal to other co-owners if the property is jointly owned.

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Setting the right price is one of the key factors for selling your property at the highest possible value while keeping it attractive among other offers on the market. You should look at similar private houses in the area, consider the condition of the building, the location, the infrastructure, and choose a competitive price.

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When buying a private house, buyers pay close attention to insulation, utilities, the land plot, access roads, and the potential to extend or modify the home for their needs. If you can slightly improve the technical condition and appearance of the house by investing a small amount and solving obvious issues, such an investment will definitely pay off. Buyers are willing to pay extra for a well-maintained and tidy property, which increases the selling price and helps the property sell faster.
Large capital investments, however, are usually not worth it, as buyers often adapt the property to their own needs, and the costs of major renovations are rarely recovered.

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Working with a professional who specializes in the private house segment in Riga and the Riga region can speed up the sale, increase your listing’s visibility, and reduce risks.

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Professional property photos will definitely help generate interest in your private house. A tidy and clean home will improve buyers’ perception of the property. Drone video and photos will help buyers understand the location and layout of your property.

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When selling a private house, it is important to provide viewings, meet with potential buyers, answer questions, and present the property and the surrounding area. Marketing should include both online and traditional advertising.
Once potential buyers start showing interest, asking questions, and making offers, you must be ready to evaluate not only the price but also the buyer’s payment capacity, financing structure, and timeline.

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Preparing a sales agreement with clear terms, ensuring secure payment, and transferring property rights are essential to make the sale safe and legally compliant.

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The notary will verify the origin of the buyer’s funds and prepare the Sales Agreement. The escrow account will ensure a secure transfer of funds once both parties have fulfilled the terms of the agreement.

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After signing the agreement and receiving the payment, you must ensure the handover of the property, the transfer of keys, and the signing of new contracts with utility service providers.

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