Home buying comes with a number of different questions that you want answering by your Estate Agent. But it isn’t all about buying, sellers also have thoughts running around their head and questions they need answering before putting their home on the market. Whilst the selling and buying of homes are completely unique processes, with a little preparation both can be stress and hassle-free success. Below are the questions asked the most from our sellers/vendors:
When is the best time to sell my home?
Everyone wants to know the answer to this question but no one has the correct answer, as each property is unique. Reports suggest that spring is the preferred time yet the truth is that people buy houses all year round, in spring, summer, autumn and winter. January is also a savvy time to sell, only you can decide when the best time to sell is, based on your personal situation and preferred timescale.
How is the market right now?
Once again, this question is common in the property industry. Instead of looking at the market as a whole look at the local market. Take into consideration how much similar properties sold for and how long they were on the market. The good news is the first time buyers are back in the market and the banks are also offering very competitive lending rates, low-interest rates, with low inflation and low unemployment, means the market now and moving into the New Year is buoyant.
How should I prepare my home for a sale?
First impressions last are very important so please make it a good one. Consider what buyers may think when they drive up to your property. Is it attractive, clean, welcoming and well-maintained? Kerb appeal is what brings potential buyers in and sets your home apart from the competition.
Once inside, your home should be well maintained, clean and a bunch of flowers and most importantly de-cluttered, this will make all the difference. Repair any problems, consider painting/re-decorating any tired rooms and take down anything that largely relates to your family or political views. You want to allow buyers to envision their own family inside.
What should and shouldn’t we tell potential buyers?
It’s important to let a potential buyer know of any defects. The old saying ‘treat people how you would want to be treated’ applies. If you are aware of any problems then it’s best to try and get these fixed before putting your property up for sale or negotiate the price to include the cost to fix them. Always point out the local highlights and amenities including, landmarks, parks, walks, shops, restaurants, etc.
How much is my home worth?
This question is one that every seller wants to be answered but one that cannot be answered with a general response. However, there are a number of ways to ensure that your property will attract the highest offers by maintaining the gardens, decorating your rooms, renovating or updating bathrooms, kitchen and utility rooms. Take a general look at the local market to see how much similar properties sold for but only use this as a guide.
How do you determine how much my home is worth?
As well as a comparative market report, things such as square footage, plot size, extensions, number of bedrooms and bathrooms, and the state of the kitchen, window quality, flooring, location, roof age and decoration/style of the property will also be taken into consideration to determine its marketing price.
What happens if I change my mind?
Don’t worry! An offer to buy or sell a property is not legally binding in England and Wales until contracts are exchanged. After this, there may be some legal implications but before any contracts have been signed. Also, for your peace of mind, Forbes Estate Agents offer a No Sale – *No Fee policy (*a small marketing/digital fee may apply)
Shall I leave appliances or not?
Some buyers appreciate appliances and big furniture items being left but some would prefer you didn’t. If you can’t make up your mind and know you don’t want to take the items with you, give the buyer an option to buy and let your agent negotiate around this option.
Should I be present when a potential buyer is viewing my home?
There is no right or wrong answer here but many sellers forget that their own behaviour says a million words. If you’re frosty, rushed and then your property will have the same feeling. Some buyers will also feel more confident asking questions if the seller isn’t present. Forbes Estate Agents recommend accompanied viewings, after all, we are the local property experts and we will ask the correct personal financial and buying questions. Potential buyers also feel less rushed and more relaxed if the owner/vendor is not present at the first viewing.
How long will the sales process take?
This depends on the property and the buyer’s circumstances, has their property sold, are they cash buyers or are they involved in a chain? As a guide, look at the local market to compare how long similar properties were on the market for and when offers come in, ask whether the potential buyer is waiting to sell their property before they move. Once you have agreed on an offer, the average home conveyancing process between solicitors normally takes between 10 to 12 weeks.
Remember asking questions to your Estate Agent is the only way to enlighten yourself so the more you ask, the less confused you’ll be. Good luck with the sale of your Home!
If you are thinking of selling or struggling to sell and have any questions, please get in touch to arrange your no obligation property advice meeting, we look forward to assisting you with your next move.
Best regards
Paul Forbes
If you would like to chat about the local property market, whether you are a buyer, seller, landlord or tenant, then feel free contact me on 01257 273324 or email info@forbesestates.com
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