Last year, I needed to move quickly to Chennai and didn’t have much time for a long selling process. That’s when I started looking into how to sell a home for cash. But I found out that by law, you cannot sell a property completely in cash if the amount is more than Rs. 2 lakh, according to Section 269ST of the Income Tax Act.
How to Sell My House Fast for Cash?
If someone breaks this law, the seller might have to pay a penalty equal to 100% of the cash received, and could also face legal action. To stay safe and avoid such risks, it’s best to consult a tax professional when dealing with expensive property sales.
To follow the rules and prevent penalties, always use official banking methods like demand drafts (DD), cheques, NEFT, RTGS, or UPI instead of cash for property payments.
Make sure to keep all important documents, such as the sale deed, payment receipts, and tax papers. Seeking advice from a tax expert can help you understand the legal requirements and avoid any trouble.
To avoid legal trouble and heavy penalties, it’s important to follow the rules while selling property. Using banking channels and consulting a tax expert ensures a safe and lawful transaction.
Avail NoBroker Seller Plan for Quick and Hassle-Free Property Sale
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Last year we sold our house in Hebbal, Bangalore, via the NoBroker Seller Plan, and it was pretty simple and fast. It took us just a month to get buyers and finalise everything. I will suggest you do the same. Hiring real estate agents is also a good idea, but I personally feel it is hard to trust them and they might not have bought us relevant buyers; hence, I will not recommend it to others. But you can take your call and make a decision accordingly. Let me share more ways on how to sell my house fast for cash.
How Do I Sell My House Fast for Cash?
There are many ways on how to sell a home for cash. You can,
Post your property details online
You can simply post your home details online on real estate platforms like NoBroker or social media platforms like Facebook, WhatsApp or more
Give Advertisement on Newspaper
You can give an advertisement about your home in the newspaper to get relevant buyers
Avail Seller Assist Plans
As I mentioned, you can avail of seller assist plans, as I did to get buyers easily. For example,
NoBroker
has 4 plans to choose from, ranging between Rs 7,499 and Rs 20,999 so you can choose any one of them as per your requirements. I will suggest you opt for the last plan, the Super MoneyBack Plan, to get guaranteed buyers or money back.
Other methods are to
List your property for auction
Opt for home staging
Spread the news via word of mouth
So best of luck. I am sure you will be able to sell your property easily following these methods.
List Your House Details Online to Get Buyers Quickly for FREE on NoBrokerRead More:
How to sell property?
How to Sell a Home for Cash?
Giribala
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2024-10-30T20:37:20+00:00 2024-10-30T20:37:21+00:00Comment
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