publication date: May 10, 2010
author/source: Kate Faulkner, Property Expert and Author of Which? Property Books
How to Sell a Property in a Slow Market
Selling a property isn’t an easy task at any time, whether a good or bad market. It is a lot of work for you to prepare the property, keep it tidy for potential visitors and then there is all the nervous energy of waiting for the agent to call, and then the waiting to see if buyers will view again or make an offer.
The best way to sell your home is to ensure your property looks in good condition. We are finding that during the credit crunch, when buyers have to find large deposits they prefer to buy a property already done up rather than one that needs a lot of work doing to it.
So, it requires a lick of paint if the walls are looking tired and making sure no cracks or bare wires can be seen and the property isn’t suffering from any damp.
Most sellers make a big mistake by going straight to estate agents at this stage – bad idea! While HIPs are still with us, the first thing you should do is to organise, or at least secure a price for a HIP AND the legals you’ll need to do when you sell. This way you ensure your move should go more quickly and you should get a discount on the price of the services.
Once your property is looking lovely, your next step is to choose very carefully which estate agent you should sell your property with. Not all agents are the same. Some will sell high end properties worth a lot of money, some will concentrate on the first time buyer end of the market. Make sure that the agent you take on, and might not be the cheapest, but has sold properties similar to yours within the last few months.
When the agents do come round to value your home – watch out! Don’t want to go with a rogue agent? Then make sure you:-
1. Don’t use the agent that quotes the cheapest commission
2. Dont’ use the agent that quotes the highest value for your property
One of these is usually a recipe for disaster, so make sure you check out the ‘good agents’ to sell your property through rather than find yourself with a rogue.
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