Expert advice on how and when to sell your home
PUBLISHED: 11:02 13 March 2019 | UPDATED: 11:14 13 March 2019
© I-Wei Huang, All Rights Reserved
If you're looking to sell your home in 2019, make sure you've read this expert advice from Woodbridge-based estate agents Cornerstone Residential first!
Selling your home isn’t a small task, but with the right help the whole process can be made a lot smoother and easier to manage than if you were going it alone. David Farrow, director at Cornerstone Residential shares his expert knowledge on the most frequently asked questions about selling a home, to aid you in making your sale.
FAQ 1: How do I sell my house?
This is the first question anyone thinking of selling their property will think of, and David agrees it’s a good one for sure.
“The first thing to do is choose an agent that you feel will give you the best advice and service and that you believe is going to be successful in getting your property sold,” says David. “You also need an agent that you feel comfortable working with during what can be a rollercoaster of a journey.”
FAQ 2: How to sell my house fast?
This is not always the best question to ask when selling your home because, “is fast what you really need” David says.
“To sell a property faster than the usual timescale can mean selling it under market value, which may not be the best thing for you.
“However, your property will sell quickly if it is presented and advertised properly and at the right price which is an attractive figure within the current market. This often results in more than one potential buyer which provides an element of competition to the process – this puts you in a stronger position to negotiate.”
FAQ 3: What is my house worth?
There are several online valuation tools that will give you a rough idea of the value of your home. However David explains that these “normally use the average price of a postcode or postcode area to come up with a figure and often won’t take into account any works you have carried out, improvements you have made or even those nuances within an area that make it a truly personalised value”.
A good agent with experience and local knowledge will be able to advise you much more accurately but do make sure they have evidence to back up their valuation.
FAQ 4: When should I sell my house?
The answer to ‘when should I sell my house?’ is ‘whenever the time is right for you!’
David explains: “The market fluctuates throughout the year and there are certainly times when it’s quieter such as Christmas for example, but different areas will have different times of the year when they are busier than others.
“It’s all well and good waiting until spring to sell, but if everyone else looking to sell is doing the exact same thing you could be up against more competition which will end up aiding the buyer rather than you.”
FAQ 5: When I sell my house are there fees?
If you are just selling a property then you will pay estate agents fees, solicitors’ fees and possible mortgage related fees, including redemption fees if you are in the middle of a special rate. You may also have to pay for an Energy Performance Certificate.
An estate agent will also charge you VAT on your fee but David explains that “this should be clearly stated on the agent’s contract with you, with an illustration of how much you will potentially pay in pounds and pence, not just the percentage figure.”
Other fees can occur from some estate agents if you cancel your agreement within the 14 day cooling off period or take your property off the market; online estate agents will often charge their fee whether you sell or not. Some estate agents may also charge extra for ‘better quality photos’ when they should be doing all they can to sell it for you to earn their fee. “None of this is necessarily wrong,” says David, “but make sure you get a full list of what you will be charged before signing an agreement. Agents are obliged to tell you this but will sometimes bury it in the small print.”
FAQ 6: Will Brexit affect me when selling my house?
“Brexit will likely have an effect of house prices, but whether it will be a knee jerk reaction or a long term effect it’s impossible to say,” David explains. “Do remember though that if you already own a property then whatever is happening to the value of that is also happening to the value of the property you want to buy - it is all relative.”