Tips for managing a quick sale
Tips for managing a quick sale
With the property market going through a mini boom, we share some tips for managing a quick sale. There are lots of new properties coming on the market right now, and they are selling quickly too. But how do you manage pricing, offers, and a quick sale? We look at the situation from both a buyer and seller perspective, in a fast-moving market.
Tips for sellers
Get the price right from the start
The first two to four weeks of your property being on the market is the golden opportunity to achieve the best possible price. We always see a buzz when a new property comes on the market, but it only lasts for a few weeks. Even more so when there are many new properties becoming available. It’s important to list your property for sale at a realistic price from the very start. This will attract enough interest to get you multiple viewings and ideally offers, in this period. If you don’t get any viewings, then this usually means buyers can’t see the value for money. With a good advertisement, strong images and listings appearing in all the right prices, lack of interest usually comes down to price.
Remain realistic with figures
Always remember, regardless the figure you have in mind, a house is only worth what a buyer is willing to pay for it. This is the biggest mistake a property vendor can make. We sometimes see houses sell for more than what we expected, but not often. Try not to base what you see as an acceptable offer on how much you need for the bigger home you wish to buy. Likewise, it doesn’t pay to always hold out for another £10k. The reality of this approach is that you will turn down the best offer you will ever get and end up for selling much less months down the line.
Be flexible with viewings
Try to be as accommodating as you can and go some way to make sacrifices. If your agent is unavailable to carry out a viewing, offer to show the buyer around yourself. It’s best to not be overly restrictive about when buyers can visit the house, too. Also bear in mind that, if you are selling a house which is occupied by tenants, you will most likely need to make some reductions to the sale price. This will be needed to account for the presentation of the property and the restricted viewing opportunities.
Get practical before you sell
It is tempting when the market is moving quickly, to just ‘get the house up for sale’. By all means do this but think practically before you do. Is your home ready to be showed off to the world? Before you start welcoming buyers for viewings, it really does pay to have done the decluttering, fixing, and sprucing. Buyers want to see the space in the property, so avoid shoving everything into cupboards, in the garage, or under the stairs. Take the time to sort through your things and leave a more spacious home before you sell. Likewise, spend a day to paint over marks, tidy the front garden, and make the hallway welcoming. This can all make the difference between getting an offer around the figure you hoped, or not once viewings start.
Tips for buyers
Make a prompt decision
Nobody wants to make a rush decision when it comes to deciding on the biggest thing you will ever buy. But you do need to be a quick in a fast-moving market. If you see a property you like, don’t hang about thinking whether it is worth a visit or not. If it ticks your boxes and you have your finances in place, get over there and have a look. And if you are still interested, don’t assume the vendor will wait for you to visit 1001 other properties before making a decision. You’ll need to decide if you like it and wish to make an offer on it fairly promptly, or you’ll miss out.
What’s it worth to you?
You’ve seen the advertised price of the property, but what is it worth to you? Decide on that and offer as much as you are able, as promptly as you can. We never recommend putting in an offer which would see you struggling financially, but you might feel a property is worth more than the asking price.
In a strong property market, it’s not uncommon to see properties sell for more than the original valuation.
Get your finances ready
It quite literally pays to be ready from a financial perspective, especially if you want to move quickly. Buyers who are unable to readily demonstrate their financial position do not inspire confidence from either estate agents or vendors. You will need to have a valid AIP (approval in principle) and proof of your deposit, ready to send over to them with your offer. An offer not backed up with this evidence is not considered a valid offer.
Ask the right questions
You are spending a lot of money, so make sure to ask the questions you need to. You’re never expected to enter into a purchase blind, you need to find out what you are buying. What sort of questions should you be asking? When it comes to the property itself, we recommend you ask at least about the lease, the boiler, the electrics, and the roof. If work has been done, has it been certified by the local council? If you are new to the area, you might also want to ask about the neighbourhood, the local school, or public transport nearby.
Are you looking to sell your home quickly? Are you struggling when it comes to managing a quick sale? Maybe you want to sell now so you can buy in time for the reduced stamp duty. If that’s the case, contact us for a free property valuation and know you will be in the hands of local property experts who will manage every aspect of your property sale. Customer service and the best results for you are at the heart of what we do. Call us on: 0161 941 4445 today.