How to make a quick sale
Wednesday, 5 January 2011 3:13 PM
The economy may be showing signs of improvement but selling property is still tough – and if time's not on your side, you'll need to do everything in your power to show your home in its best light, charm viewers and speed through the final stages. Caroline Howley tells you how.
Preparing your home for a quick sale
The majority of people now begin their home search online so make sure the photo of your house makes it look as good as possible. A property needs to appear welcoming, with the lighting and content absolutely right. Quick fixes such as sprucing up the garden, touching up the paintwork, cleaning the windows and clearing the guttering can really improve the appearance of your property and help to make a good first impression.
Meanwhile, major investments like fitting a new kitchen are often just not necessary, as many buyers like to renovate to their taste once they move in. However, a thorough cleaning job – including shampooing the carpets as well as tidying up – will work wonders.
De-cluttering will make the house appear larger , but it could well be a good idea to go a step further and 'depersonalise' your home – that is, hide photographs and personal items – as it could help the buyer to envisage their own possessions in the house more easily.
In terms of interior design, plain colours are best as buyers often prefer to see a potential home as a clean slate on which to add their own personal touches. In addition, simple decor will rarely put anyone off buying your house, while lurid patterns could.
How to behave during viewings
Arranging allocated time slots for viewings is important, particularly if you have kids. Often, a surprise visit will result in your home not being shown to its best advantage. It could even be an idea to send children and pets out for the day!
How far below your asking price should you go in order to hurry things up?
Buyers typically offer between five and ten per cent below the asking price*, based on the assumption that you will have set the price just higher than is reasonable. While you shouldn’t concede too much without receiving anything in return, the process is often fraught with necessary compromises, so it helps to have a minimum level in mind before going into any negotiation.
Remember that there is no need to immediately accept or reject an offer: bargain with the buyer and find out exactly how much they are prepared to pay (and to compromise). For a quick sale, though, it is advisable to be reasonably flexible on your price.
If your property has been on the market for a while but you haven't received any offers, you will need to reconsider the price it's on for. Check out the competition in the local area and also what similar properties have actually sold for recently (websites like Zoopla allow you to do this). Then, if you do decide to lower the asking price, take your property off the market for a couple of weeks and then market it with a different agent for at least ten per cent less than before.
*Figures from Hometrack's housing market survey in April 2010 showed that sellers in England are receiving an average of 94 per cent of their asking price.
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