Wednesday 3 August 2016

10 Tips When Considering Selling and Buying a Property

If you have been following my posts on moving house, this one is a little different. In it I have tried to distil the experience into some, I hope, helpful hints on moving house. Most we did. A couple we probably wish we had done. I trust that you will find them useful and interesting.

 1) Research how much your house is worth

Knowledge is power. Before you get an estate agent through your door, find out how much your property is worth. In the past, the only recourse was to get an estate agent to visit to provide you with a valuation. Nowadays, websites like Zoopla and Rightmove can provide you with details, admittedly dated by a few months, of properties in your street that have sold or properties in the town/city/village which are similar to yours in style, bedroom number and facilities.
It is also useful to have a wander around a few estate agents windows to get a feel for current prices.

2) Sort out any minor repairs

Take a critical look at your home. Are there any minor repairs required or bits of decoration needed? People when viewing a property can be easily put off considering a purchase if a property doesn't look cared for.

Prepare yourself for viewing in advance. Most of us tend to have 'stuff' around the house that except in situations like this we are unaware of. Does it look cluttered? Is there any non-essential furniture? Remove anything that fits these criteria and either store for future use or dispose of.

For us, this involved the disposal of a wardrobe and chest of drawers, which transformed one of the bedrooms. I also packed half my load of books into boxes and stored them, which made a difference to the study, making it look more spacious.

3) Get more than one valuation.

It is worth getting more than one valuation from different estate agents. Ask around your friends for recommendations. Look around your area and see what signs are up and what company seems to sell quickly. If you've done your research, you already know what price your property is worth. Go for the one who tallies with your valuation (or slightly higher).

Speaking from experience, it is not a good idea to be too greedy and to agree with an estate agent when they say it is worth tens of thousands more than you have seen other properties go for in your area. They will often show you a 'triangle which is basically saying that if a person is coming into an area from London for example they will consider paying far more than those who live locally. Those who will go for the cheapest properties are those who are purchasing properties to let.

The reality of the situation is that if you are selling the property to a deadline, then a higher price is likely to put people off initially to the extent that they will not consider the property again even if the price drops. And that first month your property is on the market is so important. Dropping the price too quickly also smacks of desperation, which puts you in a uncomfortable situation when negotiating on an offer.

Far better to keep to a price you are comfortable with and what appears to be realistic.

4) Have a clear idea of the area/property you want to move to.

This is where the rose tinted glasses have to be removed. Areas that may look perfect when you experience them during holidays, may look completely different in January. How near are you to shops, doctors, banks, schools, etc? What is the area like community wise?

Then there is the property. Are you looking for new or old? House or bungalow or a smaller unit? Do you want to renovate a property or move into a property that is in very good order? It will narrow things down if you consider right from the start what you are looking for . But don't be too rigid. The property we purchased was not actually my first choice, just an add on. We looked at it because it fulfilled the criteria we had set ourselves and it turned out to be 'the one'.

5) What's it all going to cost?

It is important to work out the cost of selling and buying properties. The main items to consider include solicitors fees, estate agents fees, mortgages, removal expenses but could also include works to your new property if some are required. In our situation, we knew that the property we wanted to buy was all electric and we needed to research how much connecting gas to the property, together with the possible renewal of the kitchen units and bathroom. This all helps when making an offer for your new property. The works required really need to be considered.

6) Research your area.

When you have made your choice, try to research the area that you will live in. If possible, go there at different times of the day and week. Are you going to be happy there? Is there anything you may not be happy to live with? You can't cover everything, but you may confirm in your mind that this is the property you really want.

When I worked as an environmental health officer, in fact at the 1st local authority after I qualified, I investigated a complaint from a lady who had just moved into her property. She had viewed on a weekend and had another look around again on a weekend. She had also moved on a weekend too. On the Monday following her move, the small foundry situated at the rear of her property started up, causing her great distress and another move.

7) Keep in contact.

It is so easy to think that the conveyancer and solicitor are the experts and they will keep you informed. Unfortunately, they are busy people and, on occasions will deal with those cases that are urgent on the day. It is wise once all the initial paperwork has been dealt with to contact them every couple of weeks at least, just so that you know any current information and can deal with any issues swiftly.

8) Removal - DIY or get the professionals in.

Consider using a removal firm. I know this is an extra expense but it does take the stress out of the moving day. Most are very experienced and have done it many times before. It can also be a quicker process. Ours was a move involving a 250 mile trip and it wasn't possible to do this on our own. Although we had to pay to have their services for 2 days, it really made the job a lot easier.

9) Information for the new owner

It is a good idea to build up a file for the new owner of your property, with any extra keys, booklets for equipment that will be remaining, where the stop cock is, when the rubbish is collected and any other information you feel may be of use. We also left a list of phone numbers for the doctors, dentist etc.,


10) Enjoy

Lastly, enjoy the experience. This is a new part of your life. It would be a shame if it became so stressful that the whole thing becomes a nightmare. Of course, there are always situations that will crop up as it did with us, when the whole process becomes a bit much especially when waiting for exchange of contracts. But this is all part of your journey in your life - Enjoy.


This will be the last post I will do in this blog. As I no longer live in Sussex, I won't be able to write from that perspective anymore. I am starting a new blog which I intend to call The Devon Way (unless someone has used that before), which will talk about my experiences in our new home in Devon. I hope you will join me there.



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