Selling a house can be a stressful process especially when you do not have much information about the property market, looking to sell your home quickly or are making your first sale ever. However, you can have a smooth and less stressful house selling experience with the following tips:
- Consult a mortgage adviser in advance – If you are looking to buy a new house with the proceeds of your house sale, get talking to your mortgage adviser early enough to determine how much you may need to borrow. Generally, good mortgage advisers should be able to look at the deals that are on the market as opposed to paying the highest commission.
- Work with an estate agent that delivers – Identifying a good estate agent is crucial for every property seller. Do not select an agent based on the selling price or fee they are offering, rather go deeper and look at the agent’s records to determine their sales as well as get a profile of the kind of buyers that would be interested in your property.
- Avoid scrimping on services – You should avoid choosing your property solicitor or conveyancer based on their fees. In some cases, the best professionals may charge a higher fee but then the transaction will be worth it. Therefore, hire a person who will deliver as opposed to one who will give you friendly rates.
- Vet potential buyers – The process of vetting the buyer is often overlooked. However, you need to know about the situation of the buyer to determine their situation. In most cases, you will move quickly when dealing with a first time buyer. Most importantly, check that they have a mortgage in principle as they can borrow adequate money to finance the purchase your property.
You will also do well to find out if the buyer is in a hurry or they can exchange and complete. This information is important in determining if the buyer fits your timeline or they offer you peace of mind that has more value than money. In case of multiple offers, go for the buyer that is ready and keen on moving as opposed to the highest bidder.
- Minimize the pain of property chain – On average, the property chain has three properties. Consequently, your property sale will only progress with the speed of the slowest link. In some cases, buyers can pull out after accepting an offer causing delays within the chain or even leading to a collapse. Unfortunately, you cannot completely prevent this. You can also check with the estate agent if they will vet buyers before you can sign up with them.
- Execute your tasks in advance – When you are organized, you will not have to endure the last minute rush that is usually a major source of stress. Specifically, take care of any DIY before putting it up for sale, or improve a dated bathroom or kitchen with new tiles or worktops. Most importantly, ensure you are well informed and have access to the paper work that you need through the process.
Overall, completing prior tasks in advance, being well informed and getting the right is a great way of minimizing stress that is associated with selling your property.