If you are planning to put your property on the market, this guide is filled with lots of useful information, including important steps to take and critical advice that can help you along the way.
Why failing to negotiate on the exclusive contract with your agent can be costly!
When you first decide it is time to sell your property you will obviously begin looking for the best estate agent. When you feel you have found one, it is time to agree on your terms. Most estate agents try to tie sellers into a twelve-week exclusive contract, whereby you can only use their services and nobody else’s during this time.
When possible, you should try and negotiate this exclusive contract to a time frame that is as minimal as possible. What happens if you are unhappy with the service you are getting from the estate agent? You have essentially delayed being proactive in the market for three months. Not everyone has this time to waste.
However, if you have agreed to a small exclusive contract, you can change your estate agent quickly or you can decide to go multi-agency instead. This is important. You don’t want your quest to sell your home to lose momentum before it has even started.
Nonetheless, to try and ensure you avoid the nightmare scenario of being unhappy with your agent to begin with, you need to make sure you choose them with care. Do not merely select an agent based on their low fee. Instead, make sure they are enthusiastic about selling your property and are highly active in the local market. Read reviews, communicate frequently and have a good understanding of how they are going to approach selling your home.
Is the best buyer the one offering the most money?
You are in a dream scenario: one, two or maybe more have made an offer on your home. So, what do you do? Go for the offer of the highest amount of course? This may seem like the obvious approach to take, yet it’s not always that simple. Instead of rushing in you should make an effort to discover a bit more about the buyers.
Speak to your agent about each buyer’s current situation. If they still need to sell their property then you definitely should not take your home off the market. Discover how they are financing the purchase. Obviously, cash buyers are more attractive than those that are raising a mortgage. Those that have purchased a property before are also more attractive than first-time buyers. The latter could need some handholding by the agent, whereas buyers returning to the market will likely present fewer hurdles.
It’s not a case of scrutinising your buyer’s with a harsh eye, but if you find yourself in the luxury position of having several offers, you should endeavour to find out more about them. By doing this, you can ensure you don’t accept an offer that seems to have a high chance of potential problems and therefore is more likely to fall through. If it’s for the sake of a couple of grand, you may want to sacrifice that extra cash for someone who seems in a much more stable position.
When cutting corners come back to haunt you
A lot of homeowners ignore repairs that need doing in their home – whether it is a leaky faucet, a broken kitchen drawer, or a cracked tile. These don’t really cost too much to fix, so surely the buyer won’t mind! Plus, they may not even notice, so why go through the hassle. Big, big mistake!
Cutting corners now can cost you loads in the future! It may only cost you a couple of quid to fix your broken kitchen drawer, but if you don’t do it you could lose thousands! And no, that’s not me being dramatic! Bad credit loan options are worth considering if you do not have the money now, and then you can pay it off when the home is sold.
How can something so little and seemingly insignificant end up costing you so much? It is simple – it gives the buyer the impression that the general condition of your home is not a good one. If that is broken and you haven’t been bothered to fix it, what else could need tending to?
The buyer will thus assume that they are going to have to spend quite a bit of money on repairing the property and getting it up to the standard they are happy with. Because of that, they probably won’t offer you your full asking price. So, don’t let a leaky tap or a cracked tile be your downfall!
How YOU can be your home’s best feature!
When showing people around your house you may get the sudden urge to watch their every glance and answer all of the questions they haven’t even asked! Resist temptation and take the backseat! In fact, you don’t even need to be at your viewing! Nevertheless, most people feel more comfortable being in their home whilst people are viewing it, and that is understandable. But you have to be discreet. Be welcoming and polite, but don’t be over-the-top or in the viewer’s face.
You want the viewer to feel comfortable enough to browse your home with ease. If you are watching their every move, they will want to leave quickly and they won’t feel comfortable discussing the property with the agent or their partner.
Nonetheless, whilst you may only greet the viewer as they enter and say goodbye when they leave, it is important that you present yourself well. Don’t open the door wearing your slippers. Take the time to look presentable and you should also ensure that any pets or children are out-of-sight. There is nothing like a screaming child or a barking dog to ruin a viewing. Get your partner to take them for a wall whilst you welcome the viewers into your home.