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1. Do your own research before you invite agents into your home
It is really important to know what your competition is before you put your home on the market. Have a look at property websites such as RightMove and see how many homes are for sale in your area which are the same size as yours. Look at the price range and see where your home fits in. Taking a look at comparative properties should give you an idea of what your home might be worth, which will help you to plan your future property purchase.
However, be wary of relying on online valuation calculators as their algorithms are not matching the reality of the market. As an example, if you live in a two bedroom home but your postcode contains mostly three and four bedroom properties, then the algorithm will not take this into account. The valuation it will give you will be based on the average selling price within your postcode and not the average price for a two bedroom property.
2. Take a closer look at your finances and check your paperwork
If you are currently part way through the terms of a fixed rate mortgage, then make sure you find out what your early exit fees are. We recently met a couple who were facing early exit fees of £10,000 so it is really important to know if this could apply to you. Whilst £10,000 is quite a lot, it is not uncommon for exit fees to be around £3,000 - £4,000 which will need to be factored into your budget.
Similarly, if you purchased your home as part of a Help to Buy scheme, then check what the terms of the scheme are. Will you have to pay back all of the money you borrowed if you sell your home in the next six months?
If you have recently added an extension or installed new windows, then make sure you know where all the necessary paperwork and certificates are kept. As agents, we won’t just market your home based on how many bedrooms you have, but will also need to let buyers know what alterations have been made and if there is anything they need to be aware of. Once a sale is agreed if you don’t have all of this information upfront then it could become an issue as the sale progresses.
3. Don’t make an offer on a new home before you have had your current home valued
Whilst it can be tempting to start looking for a new home straight away, especially if you’re moving to a new area, please don’t put an offer in too early. Unless you are in a very good financial situation, chances are you will need to sell your existing home before you can afford to buy a new one. Therefore if you put an offer on a new property before you know exactly what you are likely to sell your current home for, you might find yourself stretched financially.
There is no harm in seeing what properties are available, but please don’t set your heart on a property before you know whether you can really afford it.
4. Think about the presentation of your home before you have it valued
As agents, when we arrive at a property to offer a valuation, one of the first things we think about is whether there is enough parking available. If you have a driveway then consider allowing potential buyers to park there when they are viewing your home. Or if there isn’t a driveway, then does your street have plenty of on-street parking?
Next we will think about the kerb appeal of your home. Do you live on a street which is neat and tidy; is your front garden well maintained and free of weeds; are your windows and your front door in a good condition? First impressions really count for so much, especially when it comes to buying a property. The last thing you want is for potential buyers to be put off from viewing your home because there is nowhere to park and the outside of your home looks uncared for.
5. Arrange for multiple agents to view your property
Our general recommendation is to contact three different agents to value your home. As a seller you need to be wary about just picking the one who claims they can sell your home for the highest amount.
You need to trust your agent and feel that they are telling the truth and believe what they are saying. Any good agent should also be able to back up their valuation with real-world evidence of the property market in which your home is located. This is why it is so important to do your research before you invite agents into your home. Also don’t be afraid to question where they have got their information from, especially if you think they are massively overvaluing your properties compared to similar ones in your area.
When you have decided on your agent, please make sure that you read the terms and conditions of your contact very carefully before you sign it. Some estate agencies will have clauses which state that even if they don’t manage to sell your home you will still have to pay their fees. You should also make sure that you know how much the fees are likely to cost you and what you can expect your agent to do for the fees. Whilst it might be tempting to go with the cheapest agent, they might not be as cheap as you think and could have additional fees hidden in the small print.
6. Don’t let your pets stop your home from selling
The UK is a nation of pet owners and few of us can resist saying hello and making friends with cute fluffy animals. However, it is important to remember that not everyone will love your pets as much as you do.
If you have an excitable puppy; a cat that doesn’t like strangers or a dog that sheds a lot of fur, then think about what you can do to make sure they don’t stop potential buyers from making an offer on your home. Can you take them for a walk during viewings or ask a friend or family member to look after them?
Also think about removing litter trays and tidying away pet beds and toys during viewings, especially if they take up lots of space in your main living rooms.
7. Call Foden Property on 01952 632140
Finally, when you are ready to put your home on the market, please give our friendly team a call on 01952 632140. We promise to offer you an evidence-based valuation using our extensive knowledge of the local property market.
For a more in depth discussion about selling your home listen to our latest podcast on the Foden Property YouTube channel.