Selling your home is stressful, so minimising any problems you may encounter is crucial to creating a more zen-like sale. Being aware of the common pitfalls should help you avoid them.
Not cleaning up and staging your property
One of the first things you should do, before even engaging an estate agent, is to clean, refresh and refurbish your property. You should be decluttering like a professional, remembering that the process will also make your move easier.
A deep clean and tidy-up is essential and quick-fix jobs, such as broken cupboard latches, must be completed to ensure your home looks well maintained. A lick of paint will also help to give your property a new lease of life and impress would-be buyers. Once those jobs are completed, it’s time to stage your property ready for some high-impact marketing photographs and the viewings that should follow.
Overpricing
The gap between the asking price you want to achieve and your final selling price can be vast if you don’t price correctly in the first place. Only getting one valuation is a big no-go since an agent might inflate their price to win your business.
Getting a few quotes and comparing them to similar properties that have sold recently will help you set a more realistic asking price. It will also generate interest in your property early on.
Picking the wrong agent
Remember that wildly ambitious valuation? Look beyond the price an estate agent gives you when making your final decision about who to opt for. Gather recommendations and ask to see details of other properties like yours that they are selling or have sold recently to check they will attract the types of buyers you need. Understanding how quickly they sell and whether properties are discounted will also give you a clearer idea of how effective they are.
Not appointing your experts in time
The sale process is a laborious one and you need expert help along the way, including a solicitor or conveyancer who will manage the legal transfer of properties.
As with your choice of agents, do your research to pick the right fit for you. Having experts already appointed and your paperwork ready as soon as you put your home up for sale will mean you are ready when an offer does come in.
Failing to sort your mortgage early
If you are selling to buy somewhere new then chances are you still need a mortgage on your next property. Getting an agreement in principle not only proves that you are serious about moving but that you are sure you know what you can afford and aren’t about to offer on a new property that you won’t be able to fund. This helps to give your buyers confidence that their chain is secure.
Accepting the highest offer
Accepting the highest offer can be one of the biggest pitfalls of all. Although it may be fantastic news that you’ve achieved an offer you are happy with, consider the buyer’s circumstances before deciding whether to accept it. If you are in a hurry, a chain-free, ready-to-go buyer will be a more attractive proposition than a higher bidder who’s caught up in a complicated chain that could collapse at any moment.
Proctors is an independent network of individual estate agent businesses with branches in Beckenham, Bromley, Park Langley, Petts Wood, Shirley and West Wickham. We’ve been buying, selling and letting in these areas since 1946. Get in touch to find out how we can help you with your property requirements.