10 things to think about when selling your home
For many Brits, a property remains the single largest asset we will ever own. Buying a property requires plenty of research and taking the time to find the right investment – and when it comes to selling the process is just as involved. If you’re currently looking at selling your home then here are 10 key things to think about.
1. A valuation
It’s crucial to get an accurate valuation from experts who will be able to help you establish a realistic sale price.
2. Extension or conversion
If you’re looking to add value to your home then a conversion of the basement or loft, or an extension of the property represent some of the simplest ways to do it. A loft conversion, for example, could add 12.5% to a property value, according to Location, Location, Location’s Phil Spencer.
3. Being part of a chain
When you’re the seller in a chain there are timing considerations to take into account. How quickly can you move if you get an offer straight away and where are you going next? It may be necessary to use storage or temporary accommodation to make the property available when needed to ensure you don’t miss out on the sale.
4. Marketing the property
During the sale process, the more potential buyers who view it, the higher the likelihood of a sale – and at the price that you want. Decisions about how to market the property are crucial, whether you choose to use an agent or do it yourself online.
5. Planning permission
There are many, many examples of homeowners who have been caught out with construction after forgetting to apply for planning permission. However, did you know you can also use it as a sales tool? Even if you don’t plan to use it yourself it can be a great incentive for a buyer if there is already the option to convert the attic or pave over a front garden to create a parking spot.
6. Building surveys
The cost and burden of building surveys fall squarely on the buyer. Nevertheless, it’s worth thinking about anything that these surveys could highlight well in advance.
Every seller needs to provide buyers with an Energy Performance Certificate (EPC), which shows the energy efficiency of the property. This must be available within 7 days of the property being put on the market. If not, penalty notices can be issued by Trading Standards for £200.
8. Using an agent
Agents charge a fee for the work they do in helping to sell a home so the question is whether that fee is worth it to you. Property presentation, finding buyers and scheduling visits, showing buyers around and answering follow up questions are all tasks you’ll need to take on yourself if you don’t have an agent.
When you find a buyer you’ll need a conveyancer to handle the paperwork and perhaps negotiations over the details. Many law firms offer conveyancing services but if you don’t want to use a lawyer you can work with a licensed conveyancer instead.
10. Selling decisions
You may have a number of offers on your property and need to choose between them. Cash buyers, buyers who are chain free and the time frame in which the buyer wants to move should all be taken into account.
Clarke Gammon Wellers can assist with many of these tasks and decisions when selling your property – for more information, get in touch with our team today.