Selling property in the UK is relatively easy, particularly if you’re in the right area. There were 1.06 million successful property transactions alone last year. Success in property selling is very much a science. Do the right things and you should have no problem getting your home on and off the market in record time.
Pick the Right Agent
The choice of estate agent is vital because this is the person responsible for marketing and selling your property. Ignore any special promotions designed to get you through the door. Concentrate on the one performance indicator that matters: the number of sold properties.
Most property sellers are willing to share this information because it reflects well on them. Look for the number of ‘Sold’ boards in the areas they operate. A ‘For Sale’ sign doesn’t mean anything because any old agent can throw a property onto the active market.
Save Money through Negotiation
There are many expenses involved in the selling of a property. Primarily, you have to pay the estate agent’s fee, which is usually between one and three per cent. You should aim to negotiate with agents to see if you can get a better deal.
Rarely are these rates set in stone. Different customers can command different rates. All they have to do is ask.
The asking price is another factor you can negotiate on. Always call in multiple agents to appraise your home. If there’s suggestion of a higher asking price, ask why. Occasionally, agents appraise at the higher end of the spectrum because they already have a specific buyer in mind.
Prepare for Viewings
It’s difficult enough to attract buyers without making it hard for them to see the property when they want. Never be strict about when someone can view your home. Prepare for viewings by first giving your estate agent a set of keys.
Next, you should endeavour to keep the house clean and tidy whilst it’s on the market. Even the best house can give off the wrong impression if there are dirty clothes on the floor and children’s toys at the top of the stairs.
Thinking about the Offer
Always check to see how a buyer will finance the purchasing of your home. In most cases, this will be in the form of raising a mortgage. Consult with your agent to see how likely it is the buyer is able to acquire this mortgage. Thousands of transactions fall through because of a mortgage application rejection.
Take your home off the market as soon as the buyer arranges a survey. The process has gone far enough to confirm that the buyer has genuine intentions regarding completion of the purchase. You can technically wait for better offers until contracts have been exchanged in England and Wales, but it’s not good etiquette.
In conclusion, the key to selling your property successfully is to be as flexible as possible. Make it easy for buyers to view and assess your property. At the same time, carry out due diligence on the financial means of any prospective buyer.