You have just spotted a new perfect home for you and your family but how fast can you get a buyer for the current one you live in so you can secure the new property and move into it as soon as possible? We’ve compiled a list of 8 practical steps which should make the sale of your property a breeze.
1. Make sure your home is 100% sale-ready
There are still lots of aspects in the home buying and selling process that will always be out of your control – which is why it is so crucial to take full control of the aspects you can control.
Use the little time you’ve got now to do some major decluttering of any dispensable or excess items around your home. This will help free up some space and help make your rooms look bigger plus allow potential buyers to consider where their own furniture and items could fit in your property. Consider giving old-looking ceilings and walls a new lick of paint so to make them more appealing to prospective buyers and tidy the front outside area of your home to ensure first impressions of your property are positive.
2. Make use of a Sidcup selling agent that has a presence on all major property portals
These days, about 90 percent of property searches are first conducted online. So if your desire is to get a buyer for your home quickly, ensuring that you select agents who have their properties listed with the major portals – such as Rightmove and Zoopla – is a very wise move.
3. Establish the right price for your Sidcup property
Getting up to three local estate agents to give the estimated value of your home is a good idea (and remember that it’s possible to come up with your own guide estimate with the aid of our own instant online valuation tool).
But just make sure you are not in a hurry to go with the agent that comes up with the highest price. If you are really serious about selling your property as soon as possible, arriving at the most appropriate price is the most important thing and you should give serious consideration to what other similar properties are currently on the market for sale and price your own property with these properties in mind. A simple search for local property on rightmove will give you a good idea of what is currently on the market but keep an honest view on how your property compares to others as it is all too easy to allow feelings to consider your home as the best property in Sidcup!
4. Make sure your paperwork is in order
But ensure that everything is on order on your own part too. Even if raising your mortgage size before moving to your next home wouldn’t be necessary, chances are that you will need to apply again for the same deal if taking the mortgage with you is your plan.
This definitely means you will have to dig out your bank statements, payslips, employment contracts and tax returns. This is the right time to also take a look at your credit score to ensure there’s nothing in it that is capable of putting your chances in jeopardy.
Also it might be a good idea to talk to a local independent financial advisor to find out which lenders are currently working the quickest with regards to mortgage applications and surveys to ensure you do not choose a lender who could slow your move down.
5. Choose a buyer who’s also ready to move quick
You really want to make sure that any prospective buyer of your home is serious. How does the buyer intend to finance the purchase? Of course cash buyers are the most preferred but should they need a mortgage like most buyers out there, make sure you don’t proceed without seeing an agreement in principal. This is a document issued by the lender which confirms that it will potentially lend the money – all other things being equal.
In a situation where your buyer also has a house to sell, make sure it is under offer before yours is taken off the market, a good estate agent will be able to check this for you as part of their selling service before an offer is accepted.
6. Look around for a surveyor that’s readily-available
It’s normal to fall in love with your home after viewing it. But, if it’s not a newly built property which will still be covered under NHBC guarantee, getting a survey carried out will be much needed.
You will find some surveyors have busy schedules and will not be able to carry out a survey immediately so make sure you telephone a few of them to check if they are available quickly to carry out your survey. You can also use the RICS website to find a surveyor who covers the Sidcup area by simply typing the postcode in.
7. Keep a tight rein on your solicitor
When it comes to legal processes relating to buying and selling, property lawyers and solicitors can sometimes be extremely slow – a process often referred to as conveyancing. So make sure you follow the recommendations of friends who have tried and tested that service.
After narrowing down your options considerably, ask if the solicitors would be willing to work within the parameters and timescale of your choice. The ball is then in their court whether to accept your terms or not!
Once you’ve chosen your solicitor, it’s time to ask them to put together all the necessary documentation (such as draft contract) in advance. Also get your title deeds ready. If everything looks good, your purchaser’s solicitor can receive a complete package same day.
Keeping in touch constantly with your solicitor to get an idea of your exact position in the conveyancing process is also a smart move. Be bold enough to ask important questions and always try to proactively get your ideas or specifications across.
8. Agree a quick turnaround for completion
The point of completion is when the keys to the property are handed to you and you become the official owner. Choose a realistic completion period from the start so you and your prospective buyer will be aware of the target to be met.
Although everything is usually completed a few weeks after exchange, you can fast-track this if you want. As a matter of fact, with strictly tight timings, it’s possible to complete both events on the same day and this is something you should discuss with your agent and solicitor in advance so all parties involved are aware of your preference in advance.
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Speak to me: If you`d like to have a chat about anything in this article or property related, drop me an email at email@example.com – I`d love to hear from you.
Paul Long (Director & Author of The Sidcup Property Blog)