An Essential Guide to Selling Your Property!

An Essential Guide to Selling Your Property!

For many people, the thought of selling their property can be extremely daunting. If you’re unsure of the property market, need to make a fast sale, or are hoping to buy and sell at the same time, you may feel anxious, stressed, and nervous about the whole process. However, you can rest assured that selling your home doesn’t have to be a negative experience.

Here at HelpOnProperty we’ve created an invaluable guide to getting the most from your property, with handy hints on everything from choosing the right estate agent to preparing your house for sale and accepting an offer.

The Buyer’s First Impression Counts

Before organizing photographs or viewings of your property make sure your home is looking in top condition from the garden up to the attic. Nobody wants to lose potential value on their property through neglect, but by displaying a messy home that appears unkempt and unloved you may have to settle for a lower price or not sell your property at all.

Cover the basics and maintain the condition of your home from the minute it’s valued in order to attract the widest number of potential buyers. There are a number of preparations you can make to give your house extra appeal, making your property more sought-after and desirable as a home.

Interior Home Improvements

  • Clean thoroughly beyond your normal level of cleanliness and make everything shine. Don’t forget to tackle the skirting boards, fixtures, and fittings, carpets, floors, and windows.
  • Be aware of smells such as cigarettes and pet odors. Try to eliminate bad odors before any viewings.
  • Create space by getting rid of any clutter, clear out wardrobes of unnecessary items and move excess furniture into storage. Any rooms which are looking shabby may require a fresh coat of paint, new door handles, soft lighting, or a vase full of flowers to appear more attractive to buyers.
  • Take time to check for leaking taps, broken lamps, rough carpet edges, cracks in the plasterboard, or crooked tiles. By fixing any unsightly objects your house will seem in perfect working order and ready to be bought.

    It may seem like a lot of work, but with time, energy, and even a bit of money spent now, it could really make the difference in how quickly you sell your property and how much you get for it. Speculate to accumulate and ask your estate agent for advice on anything you're not sure about.

Exterior Home Improvements

Interested parties will get a clear first impression of your home as soon as they walk up to the front door. That’s why you should make an effort to give the outside as much attention as the interior of your home. If you’re hoping to sell your property, compare your home’s exterior with the following property advice and decide if it’s ready for viewing.

  • Move piles of rubbish and bins so that they can’t be seen.
  • Give your house number a polish or lick of paint and make sure it can be clearly seen by the public.
  • Get out the lawnmower, garden shears, and trimmer. Remove the weeds, plant some new flowers or plants and tidy up any rough areas of ground.
  • Check the window frames and door and give them a fresh coat of paint if necessary.
  • Fill in any unsightly holes or cover up any marks on the walls or driveway.

There are a number of ways you can make the interior of your home more attractive too, and it doesn’t have to cost a fortune. By spending a little extra on your home you could sell more quickly and get a better price.

Revitalizing Your Home

  • Clean thoroughly beyond your normal level of cleanliness and make everything shine. Don’t forget to tackle the skirting boards, fixtures, and fittings, carpets, floors, and windows.
  • Be aware of smells such as cigarettes and pet odors. Try to eliminate bad odors before any viewings.
  • Create space by getting rid of any clutter, clear out wardrobes of unnecessary items and move excess furniture into storage.
  • Any rooms which are looking shabby may require a fresh coat of paint, new door handles, soft lighting, or a vase full of flowers to appear more attractive to buyers.
  • Take time to check for leaking taps, broken lamps, rough carpet edges, cracks in the plasterboard, or crooked tiles. By fixing any unsightly objects your house will seem in perfect working order and ready to be bought.

Time for the Estate Agent?

Not everyone chooses to sell their property through an estate agent, but if you do make sure the agency is the right one for you. If you’re interested in selling your property yourself and want to cut out the middle man, then visit our Selling Your House page for excellent property advice and selling tips. Our Estate Agents Help is also helpful and will give you a better understanding of how estate agencies work.

Estate agents valuations and Commission

Your home looks its best thanks to a little extra preparation and you’re ready for your property to be valued. If you’re planning to use an estate agent, you should get 3 valuations from separate agencies in order to help you decide which company to go with. However, don’t simply choose the estate agency which offers the highest valuation for your property. Remember that the estate agent wants your business and may therefore give your property a higher value than necessary. If your property is over-priced it may not sell, so make sure you know the property market before visiting an agent.

Online sites such as the ones listed here will help you to compare your property with similar homes in the area. Check out the 'sold house prices' service on the sites below before settling on an estate agency. In this way, you can feel confident about the housing market before listening to the advice of an agent.

How do Estate Agents Make Valuations? - There are many different ways in which an estate agent may value a property - so don’t be shy to ask about their valuation criteria, credentials, and how your property will be judged. We’ve compiled a guide on valuations, commissions, as well as other related property advice below so that you can understand the process better before signing to an agency.
 
Commission - Estate agents’ fees will generally differ between 1% to 3%. You may be able to negotiate to bring the fee down, but remember if you bring it down too low the estate agent may not feel as motivated to sell. The lowest commission rate is not necessarily going to guarantee the best price for your property, so you’ll need to find a balance in order to get the best deal for both of you. One way to find a reasonable commission rate is by agreeing on a system that allows you both to get something from the situation. For example, if you sell your property for the full price, your estate agent should be entitled to the full fee, or if your property sells for less than expected, the agent gets a smaller fee.

Honesty Pays - Tell the Truth about your Property

Before valuations are made, honesty is always the best policy when it comes to your property. Our help on property tip is to inform your estate agent of any problems before the house is valued. By giving them insight into any damage or faults you will save them time and therefore money in the long run. Try to get 3 valuations for your property from different sources and then decide which agent suits you best.

Deciding on a Selling Price

Once you’ve found a suitable estate agent you’re ready for the next important stage. At this point, you will have to decide on a selling price for your home which will have to be negotiated with your agent. Then, you, the estate agent, and the buyer will have further negotiations in terms of a realistic sale price for both parties. Your estate agent should be able to help you with a strategy for a successful outcome, by weighing up your own circumstances with that of the buyer.

Price and Preparation - Understanding how your own circumstances could affect the sale

The price you finally agree on could be affected by a number of factors:

•    Time pressure to sell in order to secure a new property
•    Market conditions
•    Demand for your property

If you’re anxious to sell quickly you may be more inclined to settle for a lower asking price than someone who is not in a hurry. If time is not an issue you may be happy to hold out for a better offer. But remember, the longer your home remains on the market the fewer people may be inclined to view your property, and the greater the chance for house prices to fall. Try to research local market conditions before settling on an offer, as well as talk to your agent to develop a strong sales strategy.

Understanding Your Buyer

By understanding your buyer’s position you will be better placed to negotiate with them. Is your buyer looking for a quick move? Are they under a pressing time constraint or are they chain-free? If the buyer does want to buy quickly you could negotiate a higher price for your property if they feel that time is running out.

Help! My Property won't Sell - Additional Property Selling Advice

The first thing you should do as the property vendor is to discover why your property isn’t selling. The estate agent should be able to give you some helpful property advice to pinpoint why your home has been overlooked. In addition, we’ve summarised some helpful tips to consider.

  • Lower your home’s price. By doing so you could attract more potential buyers who may bid towards your initial price bracket.
  • Advertise your property more widely via online portals or with another estate agency. It may cost a little more money but it could provide the exposure your property needs.
  • Remove your property until the market improves.
  • Keep on waiting patiently. You may find a buyer is just around the corner, but equally, the longer your property remains on the market, the less attractive it could appear to potential buyers.

I’ve Accepted an Offer, What Now?

Well done you’re almost there! While this is a great position, the sale is not over yet. Your house is now officially under offer, but you have no legal commitment to honor the sale until the contracts have been exchanged. You may wish to remove your property from the market to show goodwill, but you can still listen to other offers if you desire. From the buyer's point of view, they could try to negotiate a lower asking price than initially agreed upon if the surveyor relates any possible problems with your home. In this case, it may be easier for you to correct the problems yourself in order to retain the agreed asking price.

Be aware that just as the seller can legally pull out at any point before the contracts are exchanged, so too can the buyer. It can be a nervous wait for some people but when you have finally agreed on a price and exchanged contracts the legal process will commence.

The Final Legal Process

The details of the legal property process are dictated by your geographical position and whether the transaction takes place in Scotland, England, Northern Ireland, or Wales. The process of buying and selling is commonly known as ‘conveyancing’ in legal circles, and any questions you have about the legalities can be directed to your solicitor or property adviser. Once the legal work is complete, the process is finished and you’re free to move on. Congratulations, you’ve sold your property!

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HelpOnProperty is a real estate investment company that helps you to find your next money-making project. Once we find a good investment property that gives the best returns, we immediately list it for our investors. Whether you are a first-time buyer or an experienced investor we help you in making an informed real estate decision in today's market.

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HelpOnProperty does not guarantee any return to any person on the investment in any property listed on our website. Any decision to invest in real estate involves significant risks and may result in the loss of your capital. Make real estate investment decisions only after seeking independent legal, financial and business advice.