Selling Guide

How do I go about putting my property on the market?
When first considering selling your property you will need to have a market appraisal of your property carried out by a local valuer. Check how long they as a company, as well as the individual sales team staff, have worked in the area, as those who have extensive local knowledge will know the advantages of the district. It is always advisable to obtain more than one market appraisal in order to obtain a variety of professional opinions. Market appraisals tend to be a free service offered by estate agents, so it’s worth taking advantage of the service and gaining advice from the professionals.

Should I use one agent or several?
When choosing an agent or agents to sell your property it is worth asking questions. Get to know the local agents. Your property is probably the largest asset you have, so you need to be confident in the agent(s) who will be selling it. Ask how your property will be marketed, such as local newspaper adverts, on the internet, window displays and sales particulars. Ask yourself whether you are comfortable leaving a key with the agent for them to show potential buyers round while you’re away from the property? If you’re not comfortable conducting viewings yourself, will they accompany viewings even if you are at the property? It is important to get to know the staff in the office, as they are the front line for potential buyers interested in your property. They should be keen to meet you, be willing to answer any questions you have and give you updates and feedback regularly.

It is important to understand that using several agents may not necessarily give you a better chance of selling your property quickly. Using multiple agents has its advantages and disadvantages. Potential buyers will usually register with most local agents. Providing that you chose an agent which will advertise your property in a variety of ways, one agent will be adequate. Using more than one agent usually means an increase in fees, sometimes more than doubling what the cost may be for just using one agent.

How much will it cost me to sell my property?
Once you have chosen an agent or agents to sell your property you will be advised of their fees. As well as agency fees you will need to take into account the other financial outlays involved in selling your property. You will need to consider legal fees to pay a solicitor or conveyancer to handle the legalities of selling your property. If you are buying another property, remember there will also be costs such as legal and surveyors fees. Once you have found a buyer, you will need to consider moving costs, including the cost of moving your furniture and personal effects. You will also need to remember to inform the services and utilities suppliers and local council that you will be moving out of the property. Remember to budget for final payments, especially if you do not pay for services or supplies on a monthly basis.

How long will it take to sell my property?
There is no average length of time for a property to be sold. There are many factors to consider including:

• The market – is the local housing market buoyant at the moment or is it going through a quiet patch? Your agent will be able to advise you.
• The asking price – if you want to sell your property quickly you may adjust your asking price to attract as many potential buyers as possible. If you are more concerned about getting the best price for your property you may have a longer wait in order to find the buyer offering the highest price. Local agents will advise you on asking prices when they do market appraisals for you, and discuss a price for a quick sale and the property’s maximum price in their opinion.
• Be flexible – there may be an initial flurry of interest in your property when it first goes on the market for sale. It is worth trying to accommodate as many viewings as possible in order to attract a suitable buyer earlier on. It might be better to ask your agent to show some of the applicants round. You may feel as though your home is on constant display for the first few weeks, but remember it only takes one person to put forward an acceptable offer on your home to secure a sale.
• Chain details – it may be that you find yourself in a chain of buyers and sellers, particularly if you are selling your property and buying another. The length of the chain, i.e. the number of people involved in related property sales, may effect how quickly the sale of the property concludes. If the chain is relatively short there is less possibility that hold ups may occur. Make sure your agent checks the length of the chain and the details of each buyer in it – it is no use having a buyer without a completed chain in front of them.