What price I should release on market to start my sale?
We will provide free valuation service to you so that you get some idea about the market price. While you are the final decision maker to decide the asking price.
Can I transfer the sales fund back to my home country?
Yes you can, it is also part of our service to guide you to exchange final sales fund from RMB to your currency and transfer it back to your home country.
Is your valuation on my property free?
Yes, our property valuation is completely free.
The owner of the house is my family, but he has passed away. Can I sell his property and transfer the sales funds overseas?
Yes, you can sell it.
You need to prepare a series of notarized documents in advance and ultimately transfer the property to your name or your family’s name before selling it. Our consultant and legal advisors will guide you in obtaining relevant legal documents. It will be a long journey.
My passport number is different from the passport number I used to purchase the property. Is this a problem when I sell my property in Shanghai?
It’s a problem, the real estate office need you to certify the two passports are for same person. We will guide you to authenticate or notarize your multiple passport numbers.
Do I need to apply a local bank account in Shanghai to collect sales fund?
Yes, normally the buyers only pay RMB to a Shanghai local bank account. You should apply a local bank account to get ready before the property sale.
What will be required to open my Shanghai local bank account?
Each bank has different requirements on documents for account opening, basically they will request to show them your Shanghai residence visa and working visa. We have contacts with major banks in Shanghai, including Industrial and Commercial Bank of China, Bank of China, Construction Bank, as well as HSBC, Citibank, DBS Bank, Standard Chartered Bank. We will recommend suitable banks for you to open an account based on the situation.
Do I need to hire a lawyer to assist me during the transaction?
Given our extensive work experience and professional legal team, we believe it is not necessary for you to hire another lawyer. Of course, this is just our suggestion. You always have the right to hire a lawyer to work for you.
How Milestone will help me sell my property?
We have rich sales experience and a thorough understanding of the local market. We have good cooperative relationships with local agents throughout Shanghai, especially those in the core area. When you entrust your house to us, it means that all real estate agents in Shanghai will work on selling your property.
What's the difference to list my property to Milestone and to list to other Shanghai local agents?
Milestone only serve a small number of landlords who entrust us with selling houses, which helps us focus on a few dozens or even a few properties. We are also different from the practice of most local real estate agents in Shanghai who serve and charge to both the seller and the buyer at the same time. We only accept the commission of the seller and only serve the seller, striving for the interests of our customers.
How much tax shall I pay to sell my property in Shanghai?
There are value-added tax and personal income tax involved during the transaction. Depending on the pricing model and negotiation outcome, it is also possible that the buyer to pay taxes on your behalf.
Can I sell the property held by my company and transfer the sales funds back to my home country?
Yes, that's not a problem, although it's difficult to sell the company's property, and the tax calculation and payment process are also very complex.
Should I price my home higher to leave room for negotiations?
Yes, considering that in China buyers usually only offer quotes below the asking price, property sellers usually put prices slightly higher than the market price and wait for buyers to bargain. At the same time, we do not recommend too high asking price, otherwise buyers will think that the property seller is not sincere in selling the property and will discourage them from viewing at it.
Should I price my home lower to let buyers bid on my property? Should I offer a lower quote so that buyers can compete to purchase?
Unlike bidding transactions in the United States, the asking price for selling a property in China should be slightly higher than the market transaction price, as Chinese buyers will always try to negotiate on prices. While the asking price should not be too high, otherwise it cannot attract buyers to visit and give us an offer.
Is my home country the only option that I could transfer the sales fund to?
No, except your home country, you can transfer the house sales funds to other countries too, but not to any other country.
What improvements should I make to optimize my home’s resale value?
Our realtor will inspect your house and search for necessary repair work, such as water leakage issues on the exterior walls. In addition, we will also discuss making some appropriate decorations. You don't need to renovate a brand-new kitchen or bathtub, as you may not be able to recover this money from the selling price. Often it is the smallest change that can make the biggest difference.
Is Milestone only work in Shanghai area?
Yes, Milestone only focuses on Shanghai market. After years of experience, we have become experts in selling real estate in Shanghai. We used to help people sell their properties in Suzhou, Hangzhou and Beijing, but in order to give our clients best experience, we mainly focus on Shanghai market.
Are your clients mainly foreign property owners in Shanghai?
Yes, we are mainly committed to serving foreign homeowners, but approximately 30% of our customers are Chinese homeowners.
Where is your main working area located in Shanghai?
We focus on Shanghai market, and most of the properties represented are in the core areas of Shanghai, including Xintiandi, the Old French Concession, Jing'an, Lujiazui, Xujiahui, Zhongshan Park, Hongqiao, Qingpu Xujing Town, Minhang Huacao Town, Jinqiao Biyun, Century Park Area, Lianyang Thumb Plaza Area, Zhangjiang etc.
Will the buyer pay me the sales fund in US dollars?
No, usually Chinese buyers only pay in RMB. Some buyers may be able to make payments in US dollars from overseas accounts, but such buyers are really rare.
When I purchased the property, I was still of Chinese nationality. Now that I have given up my Chinese nationality, can I transfer the sale funds overseas?
Yes, if you have already given up your Chinese nationality you could transfer the sales funds overseas to your country. While if you haven’t given up Chinese nationality, and you want to transfer the sales funds overseas, you will be requested to give it up before you sell your property.
Where is your main working area located?
We focus on Shanghai market, and most of the properties represented are in the core areas of Shanghai, including Xintiandi, the Old French Concession, Jing'an, Lujiazui, Xujiahui, Zhongshan Park, Hongqiao, Qingpu Xujing Town, Minhang Huacao Town, Jinqiao Biyun, Century Park Area, Lianyang Thumb Plaza Area, Zhangjiang etc.