|
1 Value your property
How much can you get?
You need to know precisely what your property is worth
on the open market. You can obtain some information
about prices in your area by entering your postal
code into our local area information section or by
searching for similar properties in our extensive
database.
Also don’t forget local estate agents who can
be good sources of intelligence.
Get three agents round to value your place –
you are under no obligation to give them the business
but they will be keen to sign you up. Don’t
necessarily go with the highest estimate – they
may just be going over the top to get your custom.
If you ask something utterly unrealistic it will never
shift. Remember that £129,000 is much more appealing
to a buyer than £130,000.
2 Timing
Chose your moment
Obviously some home sales are forced by circumstances
that need immediate action for example a change of
job or a divorce. But if you can choose when you go
on the market then start the selling process when
the largest number of people are looking. Spring-summer
is the favorite time to move, but there is usually
a spurt after Christmas. If you have a hunch that
interest rates are going through the roof or you have
inside knowledge that Gordon Brown is about to raise
stamp duty yet again then try to get in before these
events occur.
3 Appoint a solicitor
Get them in place early
You can choose between hiring a solicitor, a licensed
Conveyencing or conducting the legal work yourself.
(A general reduction in Conveyencing costs has meant
the DIY option - which can be very tricky - is less
popular these days.)
4 Putting your home on the market
To get the best price for your home as quick as possible
make sure you use an Denholm home registered agent.
This way, your property details will be available
to thousands of home buyers 24 hours, seven days a
week.
5
Preparing for showing
Tidy up – within reason
It is expensive and unnecessary to redecorate the
whole place before putting it on the market. (The
majority of buyers will just change the interior to
their taste anyway.) But basic stuff such as grimy
work surfaces, red wine lakes on the carpet, food
stains on the ceiling, dripping taps and leaking guttering
should be attended to.
6
Showing your home
Keep it relaxed but professional
Try to keep to appointment times. Don’t forget
that you’re trying to offload something worth
potentially hundreds of thousands of pounds. As far
as appearance is concerned: - keep clutter down to
the minimum especially if your place is small; tidy
up the garden and mow the lawn; and try to keep kids
and animals locked up/out of the house during viewings.
Show off your place’s good points but don’t
be too pushy. Let potential buyers wander around at
will, answer questions as truthfully as possible and
slip in the odd positive.
7
Negotiate Offer
Firm but fair
Find out as much as you can about the person who is
making the offer. Do they still have to sell or are
they cash buyers? Is he living in a one bedroom flat
with his wife who is about to drop triplets? This
is all important to establish the relative strengths
of your negotiating position. Don’t go into
any negotiation without already knowing what your
bottom line is but don’t be rigidly unreasonable
in establishing it. It’s a cliché that
the best deals are those where both parties walk away
happy but it’s true.
Always make absolutely sure which fixtures and fittings
are included in the price and which are negotiable
extras. This will avoid ugly disputes later.
8
Exchanging Contracts
Crunch time
Once your solicitor is happy that all the legal side
is in order – contracts, boundaries, local authority
searches etc – the signed contracts are exchanged
between the vendor and purchaser and a deposit is
paid. This is the stage at which you need to feel
all your potential questions have been answered. Once
you’ve exchanged you are committed to buy and
complete - there is no turning back. Your mortgage
lender will also need warning that you are bringing
your loan to an end.
9 Removal
A bigger pain that you can imagine
Getting on for a month before completion you need
to organize the process of getting out. Inform the
utilities providers that you’re going so can
close or transfer accounts and arrange for final meter
readings etc If you use a removal firm get several
estimates and don’t be dishonest about the size
of the job. If you do some of the packing yourself
you can keep the cost down. Also if you’re moving
from a big city to a smaller town try the small town
removers as they may be cheaper.
The sole reason for doing the removal yourself is
cost. A DIY exercise – as anyone who has ever
attempted it will tell you – can be anything
but fun. The last thing you want to be lumbered with
during the first month in your new home is a slipped
disc after you and your mate came unstuck trying to
get the baby grand piano down the stairs. If you go
it alone make sure you’re covered for breakages/loss
by your insurers.
10 Completion
Time to collect your money
No money - no keys. A day to keep in very close touch
with your solicitor. When the payments are made –
normally by electronic bank transfer - the keys can
be handed over to the other side. You’ll probably
have to cough up for your solicitor on this day as
well, but don’t tip him too generously: you
deserve a good night out.
|