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If you are budgeting
for your property move and have a mortgage to consider then the costs
for stamp duty, solicitors, conveyancing, commercial removal services,
estate agent fees and new home start up costs can put a huge dent in the
budget. Estimated buying and selling costs have to be deducted from the
monetary difference generated from the sale price of your home
being greater than the mortgage which is still outstanding. That is
equity and it can be greatly reduced if the homeowner does not wise up!
Save
money on Estate Agent Fees by Advertising privately
The
worst ones offer homebuyers poor value and slow service, says the Office
of Fair Trading, so should we be trying to sidestep estate agents?
Giving
agents a wide berth is becoming increasingly popular. Exponents of the
DIY approach say it can shave weeks off the time it can take to sell
properties, as well as knocking thousands off the cost of selling.
The
OFT's recent report suggested nearly 1 in 10 people were now selling
privately, saving an estimated £159 million in fees every year. Thelittlehousecompany.co.uk,
an online nationwide marketplace for private home sellers, says it has
seen a significant increase in private sales since 1996. TLHC has about
3,500 properties online at any one time and says the average saving by
sellers using its service is £4,500.
The internet has been a boon to those unwilling to use estate agents.
Selling privately used to involve sticking up a 'For Sale' sign outside
your home and taking out a classified ad in the local paper. This could
mean shelling out about £70, but got you relatively limited exposure.
Online
services enable homeowners to advertise to millions of potential buyers
until the house is sold. Instead of paying an agent commission of,
typically, 2 per cent, sellers pay a flat fee - until the home is sold;
there is nothing to pay on completion.
Social
worker Jean Page sold her three-bedroom maisonette within two weeks of
the advert going on the website. 'It saved me £6,500 and I would
absolutely do it again,' she says. 'If anyone is thinking about selling
their property on their own, my advice is to be clear what you think
your property is worth, but weigh up the offers on the table. For
example, if there is a first-time buyer with no chain, you might want to
consider dropping a couple of thousand.'
Many
home sellers now turning away from estate agents are doing so after bad
experiences, where a lack of communication from the agent led to delays.
'Customers
can find selling direct a lot less stressful than using estate agents.
This is largely down to having direct communication with the buyer
rather than via the agent and the speed at which their property goes on
the market.'
If
voluntary codes of practice do not clean up the estate agency business,
the OFT says it will look at the arguments for statutory regulation.
DIY
dos and don'ts
Do
go beyond estate agents' particulars in your description. Use your
detailed knowledge of your home to the maximum to attract buyers.
Do
let friends and family know you are selling - leave no lead untapped.
Do
set parameters to limit communication with would-be buyers from the
outset.
Don't
be afraid of using estate agents, but make sure it is on a no-sale
commission basis, not a sole selling rights contract.
Don't
let your property down by using a shoddy homemade 'For Sale' sign.
More
information
www.naea.org.uk
01926 496800
‘Property Presentation, sometimes
known as home staging or home styling will ensure a
quick house sale at the best price’.
Rising interest rates and fewer first time buyers in the housing
market needn’t slow down the sale of your property.
If your house is already on the market reducing the price does
not always have much effect. A
rethink of the house and its presentation is much more likely to get the
buyers interested at the right price and achieving that sale can be
relatively cheap if the increase in equity and the costs of moving home
are considered.
If the house is not yet marketed for sale
then effective presentation prior to sale could make £thousands extra
on the sale price.
Most
viewers make a decision on whether the house is for them within the
first few minutes. Their reaction is largely an
emotional response based on many factors including how the home is
presented, the way the viewing is conducted and their ‘gut
instinct’. Home Staging is
the art of setting the scene so that all of the positive unconscious
persuaders to convert the viewer to a buyer are in place.
The key to effective home staging is in a number of issues such as;
depersonalising & de-clutter to allow the viewer to imagine the
property as their own home, harmonising the space and creating the right
ambience. It is often
difficult for a home owner initially to see what is needed because they
have made the property, often over many years, into a home in their own
personal style. This is
where expert advice on property presentation makes all the difference.
The
whole home needs consideration including all rooms, gardens and
frontage.
Action for improving the saleability of the property has to take
into account the current value of the property and likely return in
improved profitability at sale. Changes
required may include reorganising layout of furniture & personal
items and altering lighting and accessories to create a more harmonious
effect, through to decoration, flooring, fabrics and furnishings as
appropriate. A number of
options are always possible with different costings.
Home
Staging Consultants.co.uk hosts a Directory of Home Staging & Interior
Design Professionals in the
United
Kingdom
.
Professional Home Staging Consultations are available and Anita Kenna,
the founder of the Directory, has written eBooks for both Home Staging
Business start up and the individual private Home owner wishing to
undertake an expert home makeover themselves in order to sell their
house at the best price.
The all important way to conduct
the viewing to turn that viewing into a sale, selling houses privately or
getting the best service from your estate agent, choosing a solicitor
and advice on moving on services are also important issues for
consideration. More
information can be found with your local Home Staging Consultant see the
UK Home Staging Directory for further
information.
More
ways to save money on house buying>
Haggle
on price to get the best property price
'Improve or Move?'
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