What to anticipate when selling your home
Once a decision has been made to sell your home, after contemplating the reasons, budget and other aspects, you need to prepare for the sale. There are several important factors to take into consideration to increase the opportunities for a successful sale. This applies not only to property sellers in Burnham-on-Sea but to anyone looking to sell a home. To sell my house markham click here.
Given below are a few pointers to take into account:
Estate agent: Choosing the right estate agent, after checking the track record, will take a huge burden off your shoulders. Listings to market the property, viewing arrangements and even negotiations on price will be seen too. A reputed agent with local market knowledge can assist in deciding the asking price, too, based on similar properties in the area.
Property valuation: To set the right price, evaluation of the property is essential. If feasible, get more than one valuation done, to determine the right market price. The condition of the property will also be assessed, so if there are any flaws, they can be set right.
Property condition: Staging a home can be simply done but can make a big difference to potential buyers. The assets, such as lighting, space, kerb appeal and cleanliness should be highlighted. For this, all clutter and personal items should be removed, with the bare essentials available to make it look homely. For online viewers especially, strategic photographs can showcase attractive features. Faulty fixtures should be repaired so that everything is in good working order.
Major problems: The house inspection will show any major problems with the property. A few options to deal with such issues are:
- Fix the problem ahead of time
- Ask for a price below the market value
- Set a normal price and offer the buyer credit to set right the problem.
If the problem is solved in advance, it will relieve the buyer of seeing to it. It will also ensure more potential buyers are interested in the “set-right” property, which will naturally lead to a higher price.
Documentation: Papers including a building completion certificate (proving that the construction is in accordance with the building regulations) and an up-to-date EPC (energy performance certificate) should be kept ready. It is wise to have a homeowners insurance policy. All other relevant documents should also be available.
Price negotiation: Any savvy buyer will negotiate on the price. Hence, the asking price should be set at an amount that will attract potential buyers and, at the same time, leave room for negotiations. It should also take into consideration whether it is a buyer’s or seller’s market and the condition of the home. After bargaining, the price decided upon should make the buyer feel that a good deal has been accomplished, while you, the seller, will get the right amount.
Hire a conveyancer: Once an offer is accepted, you will need a solicitor to handle the legal process of conveyancing. Fees will be involved, so the choice of a conveyancing solicitor should be based on your budget, their quotes and ratings. The conveyancer will help in negotiating with the buyer’s solicitor, drawing up the initial agreement, transacting the sale and ensuring that the change of ownership is registered with the Land Registry. If you are both selling and buying at the same time, the conveyancer can arrange both transactions including the payment of stamp duty for the new home.
Right time of year: As simple as it seems, the season of the year can affect the sale. Winter is usually a slow time for sales so it may take longer for a sale to go through. The asking price may have to be reduced. Contrariwise, there may be less competitive sellers also, which could be an advantage. However, if it is not mandatory, waiting for the warmer months will probably draw more active buyers and lead to competitive prices.
Accommodating buyers: At times, it may be inconvenient to have personal viewings. However, if buyers show interest, you need to oblige them, even if it means a clean-and-tidy-up before each visit.
Conclusion: Quoting from an authority, “Preparation is the key to a successful home sale.” The more knowledgeable you are of the issues involved, the better you will handle the emotions and responsibilities that crop up. From the above, you will notice the word “right” is repeated in many of the tips. By considering all the above, we are sure you will be aware of all the “right issues” when anticipating the sale of your home.