10 Frequently Asked Questions When Selling Your Property.
10th June 2020
10th June 2020
If you are looking to sell your London home, you may very well be feeling a little overwhelmed.
Many home movers find it extremely difficult to keep their personal feelings separate from their business brain when it comes to selling their home, but that being said, you can successfully sell your home without letting your emotional attachment to the property hinder your efforts.
However, it’s good to be as informed and prepared as possible before you start marketing your property, so let’s start with our 10 most frequently asked questions when selling your home.
What time of year should I sell my house?
This is a very important question as there are key times in the year when people are more likely to be looking to buy a new house.
Traditionally springtime is the best season to sell your home, with the first two weeks of May traditionally having the highest sales figures. The least effective months to sell your home are October and December, as less people want to go on viewings after work when it is cold and dark, plus many are preoccupied with Christmas.
How long will it take to sell my house?
Unfortunately this is similar to asking “how long is a piece of string”, with many factors influencing how quickly, or slowly, your home will sell. These include:
How much is my house worth?
Of course you will need to know roughly how much your house is worth before you put it on the market. The simplest way to gauge how much your house will sell for is to ask us for a free, no-obligation market appraisal. You may also like to do some research of your own by looking at comparable sales in your local area.
How much will it cost me to sell my house?
There are of course, costs that you will incur when selling your home, including your estate agent’s commission which can be anywhere between 1-2%, solicitors fees, stamp duty and any removal costs.
Should I make repairs or sell my house as it stands?
This is a tricky one as some home buyers are looking for a project property (albeit one at a knock-down price) and others may want a property that they can move into immediately with minimal fuss.
As a general rule, any small, cosmetic repairs that will not cost a lot of money should be carried out before you show around any potential buyers. For larger, more costly projects, you can either carry out the work yourself or ensure your asking price reflects any work that the new owners will need to carry out.
Should I hire an estate agent?
An estate agent will have sound property knowledge, access to marketing resources, potential buyers and local market data that are invaluable in helping you sell your property, so it is advisable to hire a professional!
What should I do if my house is failing to sell?
There could be several reasons why your house is not selling as quickly as you would have hoped. These include:
This is why it’s always best to speak with a property professional who can advise you on the best course of action.
How can I prepare my home for sale?
When it comes to making your home as appealing as possible to potential buyers, it really is a case of sticking with what works; namely the idea of baking bread and arranging fresh flowers around your home! It may sound silly, but making your home smell nice and inviting really can make a difference to how a potential buyer feels about your home.
Other top tips include:
Should I be present during viewings?
This is an easy one. Preferably not. It can be very uncomfortable to listen to a potential buyer point out what they don’t like or what they would change about your home. Not to mention the fact that they may not feel comfortable talking to your estate agent about your property if you are standing right next to them!
Therefore, for all parties involved, it is better if you make yourself scarce during all viewings.
If I accept an offer on my home, is it legally binding?
Your estate agent is legally required to pass on all offers on your property to you, although you can reject any offer outright if you are not happy with the price offered.
If you do accept an offer, you are not legally bound to it. If you receive a higher offer or simply change your mind, you are within your rights to decide not to sell your home to your buyer, although this is always a distressing situation for the other parties involved. All the best with your sale.