Do you want to be in your new home by Christmas or the New Year? James Hyman, head of residential sales at Cluttons, gives his advice to sellers wanting to speed up the sales process of their property.
1. Listen to your agent about pricing
There have been enough recent transactions for market experts to have a clear understanding of what price is achievable for your property. There is a fine line between what price will generate interest and what wont, it’s all about footfall, price your property too high and you will not generate the necessary viewings to sell your property.
2. Look forward to your onward purchase
This is an opportune market for upgrading and your priority should be to focus on your onward purchase, establish what it is going to cost you and then price your current property accordingly. Hopefully, this will mean you can market your property competitively which will speed up the chain.
3. Treat every viewing as a second viewing
In this market you can’t afford to be complacent, ensure you have done everything to present your property in the best light possible e.g. replace or clean the carpets, touch up the paint work, re-grout the tiling, jet spray the patio. It’s these superficial improvements which can make the difference between selling your property right now and not.
4. Outside space
Lockdown has placed even more importance on outside space, so if you have a garden or roof terrace get a gardener/landscaper in and make a real feature of it. A well landscaped garden, which has been cleverly designed to feel like an extension of your home, can add 10% to a property price in London and in some areas more.
5. Get your property on the market ASAP and consider renting
If you are thinking of selling then you should do so rather than later since Cluttons predict that going into 2021 there is going to be more supply and sadly, from some, an increased urgency to sell, which is going to have a detrimental effect on capital values. If you are fortunate enough to secure a buyer at a price you are happy with, but have not found somewhere to buy yourself, then consider renting to keep the chain in place.
6. Have all paperwork ready
Instruct a good conveyancing solicitor, it’s often worth taking a referral from your agent. Ask the solicitor to have the contract in place and if there is a managing agent make sure he has the Seller’s Leasehold Information Pack ready, so everything is in place when you find a buyer.
Looking for a new home? Click here to view some of the best properties currently on the market in London.