What you need to know as a first-time property seller
You will find lots of helpful information online about buying your first home. But, there is very little to help first-time sellers. This article is for you if you are thinking of selling for the first time.
You will find lots of helpful information online about buying your first home. From how to arrange the finance to what you need to know about solicitors, and even tips on negotiating offers. But, there is very little to help first-time sellers.
After living in your first home for a few years, it might be time to move to somewhere a little bigger. How do you go about selling a property for the first time? What do you need to know? Who do you need to speak to? This article intends to provide answers to those questions.
It is not a difficult process, really, but there are things that you can do to ensure that you achieve the highest price possible for your property.
Who is your buyer?
Consider who you will be selling your property to. The target purchaser for your property will most likely be someone in a similar position to you when you bought it - a first-time buyer. So consider their main concerns and how you can address them to make your property appeal to them the most. The chances are they will have a tight budget and will probably be gathering as much money as possible for their deposit. So, they're not going to have lots of spare cash after the sale completes to pay for renovations or redecoration. What is in trend at the moment? Will your property be desirable to most younger, first-time buyers? Or perhaps your property would make an ideal buy-to-let investment? What can you do to appeal to landlords?
Gather your paperwork
Dig out the paperwork that you received when you bought the property. The most recent boiler service certificate or if you've had any significant work done to the property. You will also need any certificates from whilst you've owned the property. All will need to be provided to the solicitors, so it makes sense to be prepared now to get anything you might have missed before you are in the middle of a sale, and it holds everything up.
Check your current mortgage.
Depending on the length of the fixed term left on your mortgage, you may find that you can't actually move without paying a penalty. Check that you are either out of or close to the end of your fixed term so you are free to move. If you are still within a fixed term of the mortgage, you may be able to port the mortgage deal to a new property, but you will need to check with the lender first.
Have your property valued
The property market changes almost weekly, and property values fluctuate. It can be affected by the economic climate, political changes and interest rates. The price you paid for the property will have minimal bearing on its value today, so the only way you can be sure of the value of your property in today's market is to have a valuation carried out by a property expert.
Choose your estate agent.
You are looking for an agent that is experienced, professional, qualified, and capable of selling your home. You need to know that they have a strategy for selling your home to ensure you achieve the highest possible price for your property. Be wary of choosing the agent that quotes the highest price unless there is evidence to back up their valuation.
Once you have selected an estate agent to market the property for you, they will be able to guide you through the rest of the process.
To learn more about how we can assist with selling your home and ensuring that the process is managed and goes smoothly, as well as achieving the highest price possible for your property, get in touch with our experts today.