Timing, when should I sell? how long does it take?
In terms of the time it takes to sell a property, an owner should generally allow 4 to 6 weeks to achieve a sale, as well as an additional 1 to 2 weeks in order for you solicitor to prepare a contract of sale and your appointed estate agent to prepare to market the property.
The issue of timing is less critical or ‘seasonal’ as it has been in the past. Genuine buyers for quality homes are always searching and can be found all year round. In saying this however the property market does tend to draw to a close in late December and does not gain full momentum until the end of January and into February.
This is generally due to the Christmas Holiday season for the majority of the public. It is also worth noting that most professionals including solicitors as well as real estate agents close down over this period of the year.
Presentation, how should I prepare my home?
Presentation is a vital factor in preparing your home successfully for sale. Buying a property is an emotional experience and it is important to create an atmosphere that a buyer will be drawn to.
Whilst your property is on the market it is important that you ensure your property is looking its absolute best. Some points that should be addressed include:
-Eliminating clutter and excess furniture: by having a cluttered and untidy home immediately creates the feeling that there is not enough space within the property to function properly. A well presented tidy and clean home creates a calming feeling and positive atmosphere amongst buyers.
-Evidence of damp/moisture: when buyers become aware of this it immediately raises alarm bells and may become a larger issue that it may need be if affectively addressed before the property is placed on the market for sale.
-Stained carpets and marked walls etc: despite being a simple cosmetic issue, the evidence of simple stains and marks unfortunately creates an image that the property is uncared for and raises doubts as to other more important works and maintenance that may need attention.
-Simple building repairs: as we all know generally the thought of having to do something takes almost as much energy as getting the actual job done. It is generally no different with those simple jobs around the home. It’s important that you create an atmosphere that a buyer only needs to imagine simply moving in and not concerned or thinking about having to replace that cracked window pane, fix the door that sticks or repaint the front fence.
-Eliminate unwanted odors: animal odors, cigarette smell and strong food odors all can put off a buyer. By addressing these small issues you will reduce the chance of alienating any buyers for the successful sale of your home.
Sale preparation checklist
-Ensure the property is presenting at its best
Eliminating clutter and excess furniture, carrying out those needed repairs, address the simple cosmetic issues and remove any unwanted odors. Get ready to present the home at its best every time from the first inspection until your sale is achieved.
-Dress to impress
Dressing your house to create a home may help give you that extra advantage between you and the next property, remember the aim is to create an atmosphere the buyers will be drawn to. By improving the appeal of your property may help in achieving a higher sale price.
-Make notes of your properties best features
Nobody knows your home better than you, it may be the afternoon sun on the patio you enjoy or the privacy and quite of your living area, and it is always helpful to list those things that may not be immediately obvious so that your agent can convey the personal aspects of your home to its new potential owners.
-Arrange a contract of sale
When you decide to place your home on the market a contract of sale must be prepared by your solicitor or conveyancer, when you have instructed someone to prepare the contract you will also need to list any particular inclusions and fittings from the home that you may wish to take with you when the sale is completed. Remember the process to prepare a contract of sale generally takes about 10 working days and must be complete before your property is advertised for sale.
-Select your agent
Your relationship with this professional is crucial in achieving the highest possible sale price. Your discussions should include their opinion of value and how they have reached that figure, suggested method of sale and why they believe this to be the best method for your home, current market activity, their experience and profile within the area, marketing campaigns, advertising fees as well as commission structure and any other associated costs.
Remember not to fall into the trap of basing your opinion solely on commission structure, an agent who strongly negotiates his fee and can substantiate his work is more likely to strongly negotiate the sale of your home.
-Maintain at your best
Throughout the sale you must ensure that your presentation and enthusiasm is at its highest level. Whilst this may become difficult towards the end of your campaign you must always remember that your buyer may be one of the last groups through to inspect your home.
-Remember, there are generally 3 reasons for a property not to sell,
- is poorly presented with no thought or consideration of its place on the market,
- is overpriced within the market, or
- has not been effectively advertised and handled correctly by the appointed sales agent.
Ensuring these issues are addressed will most certainly help enable your property is given every opportunity to sell at its highest possible sale price.
If you are thinking of selling and would like to find out more about the process or the services that we at Bay Realty can offer please feel free in contacting us and we look forward to speaking with you soon.