At Joy Lusher Real Estate Ltd we understand that selling a property can be a stressful time! Our experienced Agents will do all we can to ensure a positive and stress-free experience. Read more about selling your property with Joy Lusher, and feel free to contact us to discuss this further!

“What is my property worth?” is invariably the first question a Vendor will ask their Agent! As Bermuda’s banks are now 100% reliant upon professional appraisals in applying mortgages, accurate pricing is essential. We as Agents can only provide an ‘opinion’ of value, therefore we strongly recommend Vendors have their property appraised BEFORE listing for sale. The sales price should then be established within a realistic margin of the appraised value. We enjoy an excellent relationship with local appraisers and can facilitate this process on your behalf. The cost of an appraisal starts at approximately $600!

Preparing your property for sale is the next step! As the saying goes: “You don’t get a second chance at making a first impression!” Therefore, it is important to cast a critical eye around your home and garden to assess how your property will appear to a prospective purchaser. We will happily meet with you on site and make recommendations to help you prepare your property for sale.

You will be required to sign a listing agreement with your appointed Agent which will confirm the listing category and sales price, as well as provide the Agent with written authorization to market the property. ALL legal owners must sign the Agency Agreement, whether individuals or Trustees if the property is in a Trust.

Each property has a Deed packet which will either be in your possession, in the archives at your lawyers, or, if the property is mortgaged, in possession of your lending institution. Contained in the Deed packet is a legal description of the property together with a site plan. Your Agent will require a copy of both to assist in accurately representing the property.

All property boundaries must be clearly staked by a qualified surveyor prior to closing on a sale. The associated costs are the responsibility of the Vendor. We have excellent relationships with numerous Surveyors and can facilitate this on your behalf.

If you are selling a condominium, your Agent will require a copy of the Condo Rules and Regulations, confirmation of the monthly maintenance charges and what this includes, and to be apprised of any known special assessments pending at the Development.

Floor plans are another helpful sales tool if available.

It is customary practice in Bermuda for costs associated with the sale of a property to be shared equally between the Vendor and Purchaser for legal fees generated in preparation of the Conveyance and Stamp Duty payable on the Deed of Transfer. The Vendor and Purchaser are liable each to their own attorneys for any costs incurred for services rendered during the sales process which are in addition to the costs related to the Conveyance Fee, applicable Stamp Duty and Sales Commission.

There are two listing categories for a Vendor to consider: a Sole listing or an Open listing.

Sole Listings:

• A Sole listing dictates that the property will be listed with one Agent only.
• All other Agencies will be invited to work with the Sole agent on a co-brokerage basis. Should a sale result, the commission is shared between the two Agencies in accordance with the guidelines established by the Real Estate Division of the Bermuda Chamber of Commerce.
• The Vendor is relieved from having to coordinate and keep track of showings with numerous Agencies and having to give out multiple keys.
• The Sole Agent will:
• Market the property for sale
• Conduct all showings whether directly or through a co-broking Agent
• Handle all negotiations
• Draft the sale and purchase agreements
• All appointments are booked through and monitored by the Sole Agent who will be on site for every showing to ensure your property is accurately and professionally represented.
• Under a Sole listing the Vendor agrees not to participate in the sales process and any private enquiries are directed to the Sole Agent; the Vendor will pay a commission on the sale even if they introduce the Purchaser.

Open Listings:

• An Open Listing enables a Vendor to list on a direct basis with multiple Agents.
• No commission is payable if the Vendor sells the property privately.
• Whichever Agent is successful in securing a Purchaser is entitled to the full commission.
• All of the other services listed above are provided by our Agency under an Open Listing agreement.