The Basics To Selling A Property By FastMove.org.uk
As we approach the Summer months and you are thinking selling your house now might be the perfect time to think about preparing it to list on the open market. Many people believe moving house is the most stressful thing you will have to do in your life. In this article we will identify some tips on how to make the process a lot less stressful and as smooth as possible.
In a previous post we gave some tips on what makes a good estate agent some of the information detailed in this article the estate agent you choose should reiterate.
List your property on the market before you start looking
You have to think would you accept an offer from a buyer who have to sell their property and haven’t even put it on the market yet? The chances are you wouldn’t and estate agents should also offer the same advice. There is no guarantee the proposed buyers will ever sell their house, therefore there is no guarantee they will be able to buy yours. If you do choose to accept an offer from a buyer in these circumstances you run the risk of losing a potential buyer who maybe in a stronger purchasing position as they will not see your property is available. By all means scour the market and create a shortlist, speak to a mortgage broker to make sure what you have on your shortlist is viable.
Have Your House Prepared For Viewings
Now that you have listed the property on the market, the main aim is to attract as many viewings as possible, therefore you need to make the property as presentable as possible.
Whether it’s the agent who do the viewings or you choose to do them yourself try and ensure the property is accessible as often as possible both day and night. You can class someone wanting to view your property a hot lead, if for whatever reason they cannot view your property for a week there is a strong chance the buyer will find another property in this time-frame. Furthermore if you are planning a holiday I would strongly recommend letting your estate agent know and put contingency in place as to who can show people round the property in your absence.
Try and keep up to date with the cleaning, ironing and other household activities. For example, a potential viewer may call the estate agent in the morning wanting to view the following hour. This maybe the only time they have free and as previously mentioned this is a warm lead so if possible it’s hugely important between the agent and yourself these requirements can be met.
Negotiating the offer
Fingers crossed your chosen estate agent is doing a good job for you and eventually an offer comes in from a proposed buyer.
As stated in our previous article your estate agent works for you and not the buyer. When it comes to the negotiations there aim is to get as much as they can for your property and should not disclose how much you will accept for your home unless they are instructed to give this information by you.
If you do get presented with an offer we would never recommend accepting this offer straight away without giving it consideration unless you are 110% happy with the figure, i.e the full asking price is offered. The first offer a buyer makes will generally not be their highest. Everyone wants something for the cheapest price possible. Again a good agent should be a good reader of people and also a good negotiator. Therefore always ask for their opinion on whether or not you have squeezed very penny out of the interested party.
If you are in the fortunate position where your house gets into a bidding war the agent should keep all bids private and should disclose one person’s offer to another buyer. This is the best way for the agent to maximise your asset.
Once a sale is agreed with both vendor and buyer it’s up to the estate agent again to carry out their investigations to ensure the property is affordable for the buyer. Proof can be granted in a document which we call An Agreement In Principle. This is a document lenders issue confirming the mortgage is affordable for the proposed buyer.