We hae 6 Fantastic Tips on How to Sell Your House
If you have been searching for tips or a guide on how to sell your house, you will already know that there can never be any guarantees of a quick and simple property transaction on the open market. That said, there are some tips you can follow in order to simplify and streamline the process. There are also some novel alternatives to the traditional method of selling property in the UK.
Choosing how to sell your house
The vast majority of people in the UK employ the expert services of an estate agent when selling a home in the UK. While this is the safest and most reliable way of securing a quick sale on the open market, estate agent fees often make it the most costly. However, due to the huge range of resources and tools freely available on the Internet, an increasing number of people are taking on the sale of their own house. If you are wondering how to sell your house privately, you need to know exactly what selling without an estate agent entails.
If you are keen to find out how to sell your house quickly, going it alone without the help of an agent may not be the best option. Yes, you will save the cost of commission, but you could devalue your home unless you have the knowledge, time and contacts to secure a buyer who is willing to meet your price expectations. Selling a home on the open market involves advertising, marketing, the management of the property viewing process, price negotiations and the inescapable legal aspects of property transactions. This is a lot to take on, and you should only do so if you have the necessary time and know-how.
Search the Internet using the term ‘how to sell your house online’, and you will see that there are several companies and services operating in the UK. This may take much of the stress and hard work out of house selling, but it may lack the personal touch. And rather than having to attend meetings and host estate agents in your home, you can get the house selling ball rolling from your computer.
There is also advice on the Internet on how to sell your house at auction, but an increasing number of homeowners are choosing to remove much of the uncertainty involved in property selling by using so-called house buying services. These companies work on behalf of private national homebuyers and property investors, and they cut out several stages of the house selling process – including marketing, advertising, property viewings and price negotiations. This allows homeowners to shave vital weeks off the house selling process, and secure up to 100 percent of their home’s market value in the process.
Setting a competitive asking price
Rightmove estate agents, property buying experts and house buyers will tell you that selling quickly on the open market requires a competitive initial asking price. Using the likes of Zoopla, The Land Registry and Rightmove to research local house prices in your locality will enable you to set your asking price at a level that gives you the best chance of maximising your home’s price potential whilst giving buyers real value. Once you’ve done this then contact us, as we buy any house – we may give you an offer that you’re happy with, saving you the need to list elsewhere.
Online estate agents, traditional agents and homebuyers will perform the necessary research on your behalf, but don’t be afraid to do some research of your own – it might sway your decision on whether to sell or not. It is also worth bearing in mind that many property professionals advise buyers to make an initial bid of between five and ten percent lower than the asking price. So, if you add five or ten percent to your own asking price from the outset, you will give yourself a little room for manoeuvre when it comes to negotiations. If you are thinking about how to sell your house privately, it’s worth remembering that there is no specific right and wrong path – but setting a competitive asking price is a must.
Make your home appealing to prospective buyers
Any guide on how to sell your house will tell you that ‘staging’ your home in readiness for property viewings is one of the most important aspects of selling on the open market. As well as creating a warm and inviting ambience, you need to give prospective buyers the opportunity to use their imagination – and this often means de-cluttering, switching to neutral tones and creating as much space as possible. Make sure everything in your home is neatly stored away, perform a thorough deep clean and redecorate where necessary.
Depending on your target market, an estate agent might recommend some subtle changes to decor, or the addition of some ‘homely’ aromas and features. Property expert Sarah Beeny has made several TV shows aimed at helping people stage and sell their home successfully, so you might get some inspiration by watching one or two of them before listing your property for sale.
Appoint legal representation
A solicitor or conveyancer will guide you through how to sell your house legally, so it’s important that you take your time choosing the best person for the job. In order to prevent costly delays during the house selling process, you should decide on the individual or company you’re going to use for legal representation in advance. Once you accept an offer, you will be in a position to instruct your solicitor or conveyancer to proceed on your behalf without delay. If you have chosen to sell your property to a home buying service, however, there is a good chance that all the legal process is taken care of as part of the service offered.
Any guide on how to sell your house will probably include a recommendation that you shop around for the best solicitor or conveyancer for your needs. While most estate agents will recommend someone, you are under absolutely no obligation when it comes to hiring legal representation. Research Rightmove estate agents based on their customer reviews and their specialities, and of course, make sure you’re comparing fee structures when comparing agents.
The negotiation process
There are some areas of the UK where house prices are rising – and where demand is higher than ever. If your home is in one of these areas, you might be lucky enough to receive an offer of your asking price without the need for negotiations. However, in most cases, initial offers on the open market fall between five and ten percent short of the listing price. Don’t be panicked into accepting the first offer you receive, as a first offer is often merely the beginning of negotiations. But remember; your estate agent has a legal responsibility to inform you of all formal offers on your home – no matter how ridiculous they might be.
Negotiating on price is one of the areas in which most estate agents deliver real value for money. A good agent will know exactly how far and hard to push prospective buyers on price without scaring them off. Once you or your agent has secured an offer you’re happy with, acceptance in the first instance is given verbally. You will probably be asked to take your home off the market, but there is no legal obligation to do so in England and Wales. However, doing so will show your buyer that you’re taking their offer seriously.
How to sell your house within the framework of property law in the UK
If you’re using professional property guides for information on how to sell your house, you will know that there must be an initial draft contract in place between vendor and buyer. This contract will outline the time between exchange and completion, which is typically 28 days. Other information contained within this contract will include details of the deposit, and a list of what fixtures, fittings and appliances are included in the transaction. There may also be details of discounts applicable should issues be raised during a survey.
You can check how to sell your house legally using the Internet or by seeking expert advice from a property professional, but the advice will always be the same: As soon as contracts are exchanged, both parties are legally committed to the property transaction. A deposit will usually be paid, and the countdown to completion will begin. Should you pull out of the sale of your home after exchange, the buyer’s deposit will be immediately returned. However, you may also be sued by the buyer for their costs and lost time. Pulling out of a sale at this stage could leave you liable for thousands of pounds in costs, so it’s vital that you are wholly committed to the sale before contracts are exchanged.
The completion stage of a house sale involves the transfer of funds and the handover of keys. The period of time between the exchange of contracts and completion should be used to finalise your moving arrangements and vacate the property. You will also need to use this time to ensure that all of the fixtures, fittings and appliances included in the sale as per the initial contract are left in place. Your property should be ready to move into on the day of completion.
If you don’t owe any money on your home, you will receive the proceeds of the sale – minus any agreed costs. However, you might have instructed your conveyancer or solicitor to use the funds for the immediate purchase of your next home. Your existing mortgage will be settled, and you’ll receive any excess funds within a few days. All of these figures will be outlined for you in a detailed breakdown from your legal representative.
Searching for guidance on how to sell your house is relatively easy, but you will need expert advice at various stages of the process – whether you are selling without an estate agent or the traditional way. However, with some careful planning, a free property valuation, and the right advice, your house sale should progress to completion relatively smoothly!