Information for sellers
The chances are that you bought the house you live in via the services of an estate agent. You may have had a good experience, or possibly less so. One thing that is sure, substantial fees will always be payable. Have you considered that house prices have risen by up to 300% in the past few years? Estate agents charge a percentage of the value of your property, so their fees have effectively risen 300% as well! Remember,
“Anyone can set up in business as an estate agent.
They don’t have to pass any exams or hold any licence
You can you do it yourself and save £££££!
There is work involved, but you will avoid the possibility of being ripped off and you will are likely to save thousands of pounds based on a typical commission of between 1.5% and 2% (don’t forget the VAT) and average house prices, now over £190,000. Think about it, 2% of £190,000 plus v.a.t. = £4,465 commission!
Prepare your house
Repair obvious faults and redecorate your house in neutral colours. Don’t spend lots of money on new kitchens or bathrooms. If they are not to the buyers taste you will have wasted your money. Neutral colours, magnolia and white are safe colours that will offend no one. Try to be objective. If your house has excessive clutter many potential buyers will be put off. Pack some of things away to create the feeling of space. If you have animals ask your best friend - “does my house smell of dog (or whatever)?” If the answer is “yes” you need to do something about it. Keep the garden tidy. A good estate agent should be telling you these things and helping you arrange your house so that it will sell.
“£1,000 spent on the outside of your house before a sale
is worth £10,000 spent on the inside”
Decide on your asking price.
Check out what estate agents are offering in your area. Most agents will give a free valuation (remember this is their opportunity to sell their services to you). You can apply for a free valuation at reallymoving.com. Check out the prices of similar properties in your neighbourhood. You can get an idea of average sale prices from a web site like UpMyStreet.com. Set the asking price a little higher than you expect to settle for and remember that a price like £124,000, or £124,450, is more attractive than £125,000;
Decide what will be included.
If you are leaving appliances, curtains or carpets mention this in your details.
Draw up sales particulars.
Provide a general summary showing the address, type of property (semi-detached, bungalow etc.) , number of bedrooms, locality and price. Then add a sentence or two on the situation (quiet cul-de-sac etc). Describe each room, (south facing, flame effect gas fire, en-suite etc.), give measurements (stick to imperial units, feet and inches) and provide details of garden or garage. You can use our check sheet.
“If she likes it and he doesn’t there is still a chance of a sale.
The other way round, forget it.”
Viewing and enquiries.
Arrange appointments and show round viewers. Make sure that someone's on hand to deal with enquiries and keep a pad by the telephone to record viewing appointments. Try and show the property during daylight and make sure it's clean, tidy and clutter free. Have someone with you in the house if possible.
Remember these top tips:
Tidy the garden - remove dead plants and garden gnomes. Mow the lawn, cut hedges, remove any junk especially banger cars!
Your house must be immaculately clean and odour free - spotless bathrooms and kitchens are vital, open windows a little, put heating on if necessary. For a good first impression, repaint your front door it it’s not immaculate.
Never turn a viewer away - put yourself out to accommodate viewers who may wish to come at inconvenient times, early morning or on the day you play golf!
Emphasis the key selling points. If your property has unique selling points make sure the viewer is aware of them. Tell a young family that there is a primary school five minutes away, or that the heating was replaced last year. Be friendly and informative, but also allow viewers time to themselves. Don’t talk them to death!
Be polite and friendly. You may not like the person you are showing round, but hide your feelings! They may buy your house! Your parting shot should always be to invite them to come back for another look any time they like.
Evaluate bids.
Negotiate a final price. It will probably be worth accepting a slightly lower price from a cash buyer rather than get involved in a long chain. Consider all the bids calmly and don't rush to accept or reject any offer. When you've found a buyer, make sure that their solicitor sends a formal letter confirming the offer.
Commission.
If you sell as a result of an enquiry that came via our web site, you may not need to pay the estate agent their commission depending on the agreement you have with them. Check your terms.
Conveyancing, Surveys, UK Removals, International Removals.
Check out reallymoving.com’s web site for lots mores information on and quotes for these services.
Check out these sites for more information
Council of Mortgage Lenders
The CML is the trade association for mortgage lenders in the UK, and its members undertake around 98% of UK residential mortgage lending. The CML exists to provide a service to mortgage lending institutions, by helping to establish and to maintain a favourable operating environment in the residential mortgage and related housing markets in the UK.
The Land Registry.
The Land Registry guarantee the title to registered land in England and Wales and hold records for land ownership and interests.
The Building Societies Association.
The Building Societies Association is the trade association for the UK's building societies. There are 63 building societies in the UK with total assets of over £220 billion. About 15 million adults have building society saving accounts and over two and a half million adults are currently buying their own homes, with the help of building society loans.
National Association of Estate agents.
The National Association of Estate Agents is dedicated to the goal of professionalism within high street estate agency.
Royal Institute of Chartered Surveyors.
RICS is a global professional body that represents, regulates and promotes chartered surveyors and technical surveyors. RICS is an independent, not-for-profit organisation and is required at all times to act in the public interest.
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