Complete Guide to Selling Your Home
Your selling options
Selling via estate agents
Estate agents usually promise to get you the highest possible price for the house, but unfortunately in many cases that's not feasible. An asking price up to 10% higher than the value of the house is likely to drop after the house survey. What is more, the price might be further reduced after the house has been unsuccessfully advertised for a long time in a difficult market. You're looking at a long wait - and no guarantee to sell for cash.
It takes an average of 6 months to sell a house through estate agents - 6 months that will see mortgage interests, council tax and bills significantly increase, further cutting into your house sale profits. Moreover, agent fees can amount to £2,000 - £3,000 and legal fees can set you back a further £1,000. After a stressful and lengthy sale process, you'll be left with a return of about 80% - and the cash will probably come too late.
If you decide to sell by yourself, you'll avoid unnecessarily high agency fees. It might seem that this is a more lucrative option - provided that you manage to secure a good deal. But how do you achieve this?
You will first need to evaluate your property's worth, which depends on many factors including the area, the value of neighbouring houses and the condition of the house. A good place to start is the Land Registry or by using an online house price tool. There are also steps you can take to increase the value of your property, such as repairs and general maintenance work.
However, you'll find that without knowledge of the local market the process of selling your house independently will be costly and time-consuming. You'll have to pay for advertisement and for solicitors to complete the legal work for you and you will be vulnerable to unfair deals when selling on your own. Is there nothing else you can do?
Selling to a quick buyer company
Fortunately, there is another way. By selling to a quick sale provider such as Fast Sale Today you save yourself time and money, as the process incurs no additional fees. What you see is what you get - at the end of the transaction you'll receive the agreed price without further delays or charges. While the original asking price with a quick sale provider might be somewhat lower than an estate agent's price, you'll find that the price doesn't subsequently drop, so you end up with more cash in your pocket, sooner! If this sounds like what you're looking for, why not contact Fast Sale Today to discuss your options?
Working out what your house is worth
There are several factors that answer that question, so let's discuss your house straightaway. We all want more pounds for our house when it's time to sell. You really want to complete on the sale quickly, but heard rumours that the UK housing market is stagnant, at best. To try and quell rumors, you research "how to sell my house online", but to no avail. To fill in the gaps, let's discuss five significant factors which comprise your home's value, exclusive of market indicators, before continuing onward towards your primary concerns:
- Your neighborhood: Houses located in various parts of London, for example, will inherently increase the value of houses next door. Houses in Gillingham, which is situated by water, may have an increased property value due to scenery alone, whereas Aylesbury will probably have lower home values due to its landlocked position. However, provided nothing is significantly wrong, and your house requires little labour nor requires rubbish removal, values should remain consistent with homes bearing similar features, and amenities regardless where you're located.
- Your property: An obvious second indicator of house value is how your property is kept, whether any geological calamities may reside underneath your home, and how you generally kept up the condition of your home. Few realise how unkempt properties can plummet house valuations. For example, significant flooding in Somerset and similar areas can devalue property.
- Your equity: Any additions, curb appeal and things which added equitable value into your home is considered another indicator of whether you'll sell your house fast, or not. Rule of thumb is generally the more equity, the more value to expect.
- Your loans: Owing an excessive amount on your loan isn't necessarily negative; getting more than your loan's worth off the house sale, however, depends on the above three factors.
- Your agent: Sounds strange, but your estate agent can adversely affect your house's value based on what they're telling others to buy for. Part of any bargaining process is driving down the prices to meet buyer demand, yet driving back up prices to meet seller requirements. So, in some respect, your agent can fluctuate prices favorably, or adversely.
Home improvements to impress potential buyers
If there are any rooms or fixtures in your home which need repairing, replacing or just a new lick of paint, taking care of this before inviting potential buyers across your threshold is vital. You wouldn't try to sell a car which was covered in mud, sporting broken indicator lights and filthy inside, and so you should extend the same diligence to your home. Which improvements can you make to revitalise your home and make a good impression on potential buyers?
- Choose consistent flooring - Flooring is obviously a massive part of any room's décor, so make sure your house has clean, neat floors. Using the same variety throughout is typically best - for example, wooden floors downstairs, one style of carpeting upstairs - but if replacing them is too expensive or simply not practical, consider closing the doors on each other room until you're showing it off. This way, they will be less likely to notice the clash.
- Create bigger bedrooms - 60% of people move to a new home based on the quality of the bedrooms. So, what should you do to make the best impression? One popular method is to place the bed away from walls, to ensure visitors can walk around it, from one side to the other - this will make the room feel bigger than it is. Also, remove as much clutter as you can, emphasise the storage options and ensure it is bright, airy and fresh.
- Give your kitchen a spruce-up - For many people, the kitchen is the heart of the home. If yours is looking a little past its best, but you can't afford to fit a new one, simply refresh a few key features to give it a new look. Paint the walls, re-grout the tiles, replace cabinet doors and knobs. Sanding worktops can also help, if necessary.
- Work some bathroom magic - Visitors want to see a bathroom that's clean, fresh and big enough for their needs. If your bathroom is small and an extension is out of the question, remove as much clutter as possible, and clean as thoroughly as you can. Also, add a fresh layer of white to make the space appear as bright and neat as possible.
- Try some garden basics - While your prospective buyers may not be gardening enthusiasts, a well-maintained garden can still clinch a deal. If your visitors see a garden needs a complete makeover, they may walk away altogether. Perhaps hire a local gardener to make your front and back yards look their best, or perhaps even ask a green-fingered friend to help.
Things that upset potential buyers
As well as making necessary improvements to make your home as attractive as possible, there are also things you should try and avoid:
- Filthy kitchens and bathrooms - For many households, the kitchen is the heart of the home, and the bathroom is the place we should feel the most clean in the entire house. If there is visible dirt and poor maintenance in either of these rooms, your prospective buyers are likely to form a negative view of the entire house. Scrub, mop, wash, paint and de-clutter your way to a neater bathroom and kitchen, and your potential buyer will notice.
- Coloured bathroom suites - Remaining with the bathroom theme, buyers are put off by coloured suites - basic whites are the best choice. Clean, bright, and fresh, the classic white bathroom suite complements almost any colour scheme - experts claim the wrong colour suite could reduce your asking price by almost £8,000.
- Nasty odurs - While the location of your house might restrict your control over bad smells (nearby sewage works, food factories, restaurants etc.), you should make absolutely certain to populate your home with fresh scents whilst you present it to potential buyers. Even if an odour is not strong enough to register immediately with the buyer, it may gradually create a sense of dirtiness or poor hygiene. Make sure bins are empty, foods are stored in the fridge or cupboards, and all bedrooms are free of unwashed clothes or smelly shoes.
- An abundance of pets - Buyers are turned off by an overwhelming presence of pets, cats in particular. No matter how much the buyer likes cats themselves, they may find it off-putting in the long run: excessive hair, the smell of litter trays and the risk of allergies in children can all prove too much. If you have cats, be sure to put them outside (where they're safe) or leave them with a friend, and run the vacuum cleaner around thoroughly.
- Cigarette smoke - For many people, the stench of cigarette smoke in a prospective new home will chase them away. Not only is it immediately unpleasant, but it also lingers - if you smoke inside your home and are looking to sell, you need to take some action. Paint the entire house, treat furniture with odour removers (baking soda works wonders at absorbing smells, as does crumpled-up newspapers).
When is the time to contact a quick sale company?
There are many reasons why contacting a quick sale provider may be your best option, starting with a fast guaranteed sale and ending with grave circumstances that prevent you from handling a long sale process. When nobody else can help you, a quick buyer can, and here's why:
- Repossession - When you're facing a lengthy trial and hefty mortgage arrears, nothing could solve your problems faster than selling your house for cash. You'll obtain the money needed to pay off your mortgage and a new place to live and you'll show the court that you are able to take action in order to change your circumstances.
- Relocation or emigration - Whether you have to start a new life in a new place or you are trying to sell your house from abroad, quick buyer companies can help. You will avoid a difficult process and find yourself ready for a fresh start, with extra cash in your pocket to help you wherever you go!
- Financial or health difficulties - When you have important problems to worry about, selling your property can help, but it can also add up to your problems. Why not have the good without the bad and contact a quick buyer company? You'll be able to focus on your health or repay those loans and credit card bills in no time.
- Inheritance or divorce - Family problems can arise unexpectedly, and as family is intricately tied to our possessions and finances. Sorting them out can be complicated. If you have inherited a house, you can avoid all the pain and trouble of selling the property by contacting a quick buyer such as Fast Sale Today. In case of divorce, you may find you can minimize the pain of dividing up assets by selling the house fast and starting over.
- Other situations - There are many other reasons why you might want to opt for a fast sale, such as avoiding high agent fees and a lengthy process to focus on more important things. Moreover, if your house is not in the best condition and you are unable to improve it, companies like Fast Sale Today will still be able to make you an offer. Regardless of market conditions, you can sell your house quickly without wasting time or money.
Selling a property can be a lengthy, frustrating situation, but it doesn't have to be. Here at Fast Sale Today, we're cash property buyers, and will buy your property for cash and complete the sale within one month - an easy, smooth, stress-free process. Get in touch with us to get the process started.