7 top tips for selling your home
31st Jan 2024 Home & Garden
3 min read
Your home is one of your most important assets, so when you sell it, you'll want to get the best possible price.
We
reveal seven top tips for selling your
house.
1. Be open to all interested buyers
It’s wise to be as flexible as
possible with house viewings. As most people tend to have busy schedules, don’t
limit your chances of selling by having strict viewing slots.
Alternatively, you can use
a trustworthy agent to arrange viewings while you’re out.
2. Show off your assets
Some interior features are
highly desired and will increase your property’s value. These are often
determined by the era, but beware, not everything will come back into fashion.
Research current trends in
interior design to see if you can highlight desirable aspects of your home.
Make sure you declutter and depersonalise by hiding family photos so
people can visualise themselves living there.
It’s also worth thinking about
the aspects of your home that might appeal to other people.
For example, you might have top
schools nearby or off-street parking. You should ensure these are known by
whoever is completing the viewings.
3. Can I sell my house without help?
Some people choose to sell their homes
online instead of using an
estate agent.
If you do this, you’ll have to
sort out floorplans with measurements, high-quality images and in-depth
descriptions. This is worth considering if you have good people skills, as
these are vital.
Selling your home this way can
help you avoid costly estate agent fees.
Buyers can be more detached
when going to a viewing with an estate agent, but a welcoming owner may help them
warm to the place.
4. How do I set the right price?
Before your property goes on
the market, it’s important to decide your asking price.
Generally, your estate agent
will suggest this based on what they think they can achieve, but be sure to get
at least three quotes, as opinions around the asking price can vary.
You should make sure you
choose an estate agent who specialises in your kind of property.
An estate agent who
specialises in higher-end properties may not give your home their full
attention, while an agent who tends to sell cheaper homes may not have the right
experience.
Also, look at properties
similar to yours and see what the prices are – both listed and the final paid
price.
This will help you to set your
own asking price. As many buyers like to haggle down, it’s a good idea to err
on the high side.
However, an overpriced house
can sit on the market for longer, which can put off potential buyers, so be
flexible.
An alternative strategy can
also work where you set a lower initial price to attract interest, and hope
that rival bidders lift it higher.
But this can be risky, as you
may not get enough offers.
A mortgage broker may be able to offer some tips.
5. What if I get an offer that’s below the asking price?
When negotiating, it pays to be
firm but realistic.
So, hold out for your asking
price if you can’t afford your next home – but if you can offer any leeway, it
may help you achieve a quicker sale.
Also, price isn’t everything. Look at your buyer’s position
when considering their offer: do they have a confirmed offer on their own home?
Do they have a mortgage in principle? Are they a cash buyer or otherwise chain-free?
The stronger their position,
and more dependable they are, the more it is worthwhile trying to negotiate on
price. However, if someone offers you
the asking price but hasn’t yet sold their own home, be wary of committing to
them.
If the offers you’ve received are
disappointing, try to find out why.
Talk to your estate agent. Was
the property marketed well? Did you get enough viewings? Did you present the
house in the best possible way? Have similar properties in the area sold for
the asking price?
It may be worth withdrawing your
home from the market for a while and re-listing (perhaps with another agent),
as a fresh approach often makes a big difference.
Ultimately, it comes down to
what’s most important to you: a timely sale or selling at the maximum price.
6. What if an offer falls through?
This can be disappointing, but
it happens, and it’s worth trying again.
Buyers drop out for many
reasons, most of which are beyond
your control. All you can do is focus on what you can control to attract a more
reliable buyer.
If you’re part of a chain and losing
your buyer puts that in jeopardy, be open about it and keep everyone informed
through your solicitor.
Sellers are often happy to
wait, but if they feel they can’t trust you, you may have your own offer
rejected.
Learn more: what is gazundering and how
can I avoid it?
7. Final tip: keep your mortgage broker in the loop
The price you get for your
home will impact how much you need to borrow (or are able to borrow) on your
mortgage.
So, notify your mortgage broker
of both your asking price and the final agreed price.
As soon as your broker has a
figure, they can go and find the best possible mortgage deal for you.
Unbiased can help you quickly
connect with a mortgage broker who can find the most competitive deal for your
circumstances.
Keep up with the top stories from Reader's Digest by subscribing to our weekly newsletter
Banner image credit:
Photo by Tierra Mallorca on Unsplash
This post contains affiliate links, so we may earn a small commission when you make a purchase through links on our site at no additional cost to you