If you typewrite win-win in the google browser, you will be able to read the following: it means “I win-You win. Mutual benefit is pursued, based on synergy, and the belief that the success of all is superior to the personal success of one party or another.»
Every day I receive many clients who contact me to sell/lease a property at a price that the is way out of the market price. I always tell them that When selling, look through the eyes of a buyer. That is why today I would like to invite you to do an exercise of putting yourself in the shoes of your buyer and ask yourself: what would it take for me to buy this property? I am very sure that you would be surprised of the upgrades and changes that you must make in order to highlight your property like a “top-of-mind”.
Having done the exercise and being clear about the things you must do, you will have noticed that there is an external and internal process for your property. First of all, on the external, I always recommend that the internal walls of the property be painted white. The white color is the one that least attracts darkness and gives a sense of spaciousness. This means that your client can have «a blank piece of paper» and be able to imagine what he/she can «draw». Likewise, I recommend to check the plumbing, windows, fire systems and others, so that when the client comes to see the property, they find it in the optimal and ideal conditions. Our second point is the internal one. You may wonder: what does he mean with internal? Well, by this I mean intangible details, i.e., taxes, cadastral updating, updating of owners, contact with a lawyer and accountant, preparation of the contract, among many other details that makes a sale possible.
The ideal is to be able to show the client that you have already done all the corresponding procedures and that the information that rests in the General Directorate of Revenues (DGI), National Land Administration Authority (ANATI) and the Public Registry are parallel and currently updated; Otherwise, this would hinder the process because these three legal entities work «together, but not scrambled.» If one of the above does not have updated information, the process stops and the corresponding updates must be made instead. You can even have a tax issue if you do not request the modification at the DGI and those new owners do not make the change either (they will surely appreciate your advice).
Just as an additional comment (as your advisor) I remind you that the Public Registry keeps the registry information of all the proceedings with regards to real estate, personal property, pledges, agrarian and others of the Republic of Panama, however, it does not monitor or manages any tax issue whatsoever (this is monitored by the DGI along with ANATI). These latter two play a crucial role when carrying out public appraisals and collecting taxes in accordance with the cadastral value of the property, but don’t worry, I will be accompanying you throughout the entire process to clear up any doubts.
In summary, it is very important to achieve a negotiation where both parties have a sense of winning and that all steps have been fully covered. This is only achieved when you consult with a suitable and experienced broker. Always remember to have a professional in this matter.
