How to Sell Your Property: Top Tips

How to Sell Your Property Top Tips

Often selling your home can feel like the biggest undertaking you’ve ever had to deal with. After all, there’s so much to think about from start to finish. While learning how to sell your property fast may seem absolutely impossible, there’s much you can do. These tips can help you learn how to sell your property quickly.

Tip #1 – Take a Closer Look at Your Mortgage

One of the first things you should do is have a closer look at your mortgage. Wondering why? You may actually have to pay a fee to move. Some mortgages involve penalty fees for moving if you pay your mortgage off early, so it’s worth understanding exactly what your paperwork says. If you currently have the lender’s standard variable rate, you likely won’t have a penalty. If, though, you’re still on the introductory rate, you may actually be able to transfer your mortgage, called porting it, to your new property.  If, however, your mortgage isn’t portable and you’re currently at the introductory rate, you can expect an early repayment charge. This is usually somewhere between one and five percent of the overall mortgage, so on an average mortgage, you may have to pay a few thousand pounds. If things seem too expensive but you really want to move, you may want to consider what the new mortgage will do for your overall finances before you make the decision to go ahead and list your home.

Tip #2 – Decide on your Next Step

If you’ve decided to list your house, you will need to decide what you’re going to do next in your quest to learn how to sell your property quickly. After all, what happens after you’ve sold your home. Do you intend to buy a new property somewhere else right away? If so, that’s called a property chain, and it’s fairly easy to pull off, particularly since you’ll already have an entire team of professionals in place who can help like an estate agent and a conveyancing solicitor. You can use both of those professionals for the two transactions together. You don’t have to buy immediately, though. Instead, you could choose to sell and rent something right away, then buy again at a later date. This is a really good idea for individuals who are relocating or just aren’t sure what they’d like to do next. Don’t forget, though, that the cost of renting can be quite high and you may end up in a fixed tenancy situation. It’s also important to remember that home prices could go up between now and when you’re ready to buy again, and you may have to save quite a bit for a new home deposit. You could also choose to leave homeownership entirely, but if you do that, decide what to do with the proceeds of your sale carefully.

Tip #3 – Calculate the Costs Involved

Selling a home will net you a decent profit. It’s not without some costs, though. You’ll have to think about all of those costs before you actually get started with the selling process. If you list through a traditional estate agent, you can expect to pay a few thousand pounds. If you choose to learn how to sell your property yourself, you’ll pay almost nothing in this category. Should you decide you’d like to work with an online agent, expect to pay around a thousand pounds?

You’ll also have to pay the conveyancing fees involved with selling a home. That can run anywhere from £500 – £1,500 pounds. Additionally, if your home hasn’t been on the market in the last ten years, you will need to pay for an Energy Performance Certificate, which can cost as much as £120. Finally, expect to pay for removals. A professional removals company usually costs a couple of thousand pounds. Handling it yourself and simply renting the truck, though, can cost significantly less.

Tip #4 – Decide How to Sell Your Property

There are a number of different ways to sell your property. You can use a DIY method and learn how to sell your property privately, work with an online agent, or use a traditional estate agent. The best option though depends on you and your home. If you don’t have a lot of time on your hands and you’re uncomfortable showing your own home, you may not want to learn how to sell your property privately and choose to work with a professional estate agent. Learning how to sell your property yourself can be frustrating, so an estate agent can help you with everything you need to know. If, though, you don’t want to pay the estate agent’s fees, and you don’t mind showing your property to others and taking control of the entire process, handling the sale on your own is absolutely fine. Need something in the middle? Don’t worry. As you learn how to sell your property privately, you’re likely to come across online agents. While you’ll still have to pay a fee to these professionals, you won’t have to be completely on your own, and it’s fairly easy to market using this method. All of these methods have some real benefits. Learning how to sell your property yourself can mean thousands in savings, but working with an estate agent may mean some helpful guidance along the way.

Tip #5 – Have Your Home Professional Valuated

Most estate agents will tell you that the single most important part of learning how to sell your property fast is to list it at the right price. If you’re learning how to sell your property yourself, this process is a bit different. If you’re working with an estate agent, you can certainly take his or her advice on the right price or do some research using free online valuation tools, but your best bet is to have a professional valuation. This will help you truly understand the market and price it right the first time so you don’t sell your property for less than it’s actually worth.

Tip #6– Hire a Conveyancing Solicitor

Understanding how to sell your property means a better understanding of conveyancing. Conveyancing is the legal process by which you transfer property from one person to another, and a conveyancing solicitor is a person who handles all of those legalities for you. If you want to know how to sell your property quickly, the most important tip you need is to hire this team member as early as possible. They’ll handle the draft contract, the Land Registry search that must be done, and deal with the financial exchange that happens at the end of the process. You want to choose someone you trust to handle the process. While many home sellers looking to save a bit of money at this stage and choose the cheapest possible solicitor, the simple reality is that you want to select one who is going to make the process go as quickly as possible, not just someone you found online for cheap. Talk to family, friends, and neighbours to find a conveyancing solicitor they’ve used in the past and would recommend to you. Once you have a shortlist of professionals, discuss communication, costs you may have to pay if the sale falls through, and whether they’ve dealt with properties and cases like yours in the past.

Tip #7 – Book an Energy Performance Assessor

Part of learning how to sell your property fast is to understand Energy Performance Assessments. Before you can sell your home, you must ensure you have an Energy Performance Certificate or EPC ready to hand over to buyers. These certifications range between A and G, and they’re valid for ten years. You can simply book an energy assessor to handle this certification for you. It will usually cost less than a hundred pounds, depending on the size of your home and where it’s located.

Tip #8 – Do Some Work to Your Property

When you’ve decided you are ready to sell your home, there are several things you need to do as you learn how to sell your property and make it as attractive as possible to buyers. First, do what you can to increase the kerb appeal. There are several simple steps you can take to make that happen. Start by simply mowing the lawn and cleaning your windows. You’ll want to address any issues with the pathway to your home or your driveway and clean those, too. If you have fences or walls around your property, make sure those are well maintained. Finally, trim the trees and bushes.

Additionally, there are some steps you’ll need to take inside your home. Do some deep cleaning and decluttering. Ensure that the moment a potential buyer walks through your door, the property itself is incredibly attractive. Additionally, you’ll want to add as much light as possible to your space. You can use mirrors to make small spaces larger.

Finally, if you have any unpleasant, lingering odours in your home, you’ll want to address the problem. Professional cleaning could help, but so could simply deep cleaning the carpets and upholstery in your home.

Tip #9 – Choose the Right Offer, Not the Best One

Learning how to sell your property means learning which buyers are serious. After you’ve listed your home, you may actually get several offers on the property. When you have lots of offers on your plate, how do you choose the one that’s right for you? If you’ve chosen to work with an estate agent, often they can guide you through the process. If you’ve chosen to sell your home privately, though, you need to take a close look at each bid. Think about the highest price, which bids are free from the property chain, and which ones have already been preapproved by mortgage lenders. That last one is pretty important because if they have preapproval, they’re less likely to pull out because of financing issues.

Tip #10 – Have a Chat Before Draft Contracts are Exchanged

Understanding how to sell your property must also come with an understanding of what to do once you think it’s sold. There are lots to discuss once you’ve accepted the offer on a property. The best thing you can do to speed up the sale of your home, though, is to talk to the buyer before draft contracts are exchanged. You’ll need to discuss any discounts that might happen if there are issues with the home survey like structural flaws. You’ll also need to talk about anything you plan to leave behind. For example, some buyers want sellers to leave behind custom window treatments mirrors, and even appliances. All of that can be left behind, but it doesn’t have to be, so spell things out clearly in the draft paperwork. Finally, make sure the two of you agree on a completion date – or the date you decide to hand over your keys and make the property legally theirs.

Selling a Leasehold Doesn’t Work the Same Way!

If you are selling a leasehold property, it’s important to remember that things are a bit different in this area. Those properties with longer leases are usually more attractive to investors. Most mortgage lenders won’t actually make a loan on a property if the lease is less than 80 years, so it may pay off to decide to extend that lease. While it can cost more than £1.000 to do so, a healthy lease means a much higher property value. If you need to stay with the shorter lease, make sure you understand that buyers may use this to bring down your overall asking price.

Whether you’re learning how to sell your property yourself or you’re working with an estate agent, these tips can be an important guide to getting your home sold. It’s not always easy to sell a home, but by using these tips and working with the right professionals along the way, it is possible to sell it for your asking price and get it on and off the market quickly.

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