What to know when selling a house in the UK
The process of selling a home can be daunting, not to mention time-consuming and complicated. This is especially true if you’re also looking for a property to buy at the same time.
Most of the decisions you will be making can either save or cost you hundreds or thousands of pounds. Apart from marketing and putting your property up for sale, you’ll also need to settle and work out your financial options and consider timing things appropriately with the home you want to move to.
With all the things you need to keep in mind when selling a property, it can be quite confusing to know where to begin or how to start. Because of this, here are some things that you need to keep in mind when selling a house in the UK.
1. Sort out and settle your finances.
The first thing you should figure out before selling your home is whether or not you have the capacity to do so. Ask yourself if you can afford to do it and if your finances prove sufficient enough to sustain you throughout this ordeal.
If you’re currently in the middle of a mortgage term, you may have to pay early repayment fees or charge to move your mortgage into a new property which is considered ‘porting.’
That said, comparing remortgage conveyancing quotes in advance will help you make well-informed decisions before deciding on a solicitor. Moreover, this will help you be more aware of the next steps you should take when it comes to selling a property or remortgaging.
You can visit a reliable store to obtain reliable, accurate, and quick buy-to-let remortgage comparisons and discover some of the best deals in the market. Quotes are free and instant, making the entire process much more convenient for you.
Apart from remortgaging, you must also find out how much you’re able to borrow for your new property, particularly if your situation has changed since the last time you applied for one. You’ll also need to consider other moving costs and factor in stamp duty if you’re planning to buy a property as well.
2. Make sure your property is ready for selling.
It may be evident that you’re prepared enough to sell your property, but is your property ready for selling?
If you want to secure the best deals for your house, you want to make sure that it stands out or remains decently competitive in the market. If this isn’t the case, you must consider spending money and a bit of time to make your property look its best in the market.
It’s also wise to speak to some local estate agents and survey other homes in your area for sale. Try comparing your property to others and identify what you need to work on. It’s usually small changes that make a large difference, such as a fresh coat of paint or fixing certain things like broken tiles, leaky taps, discolored sealants, and more.
3. Hire the right real estate agent.
If you’re planning to sell your home as soon as possible, you may need the assistance of a real estate agent. The right person is knowledgeable of the local market and has a credible sales record that proves that they have sufficient experience in selling properties. It’s important to remember that the seller is usually responsible for paying the commission for both the seller agent and the buyer. That’s why in exchange for the convenience that a real estate agent brings, you may be on the hook for a selling commission of around two to four percent of your selling price.
Nonetheless, having a real estate agent by your side will be helpful in the entire process. They will oversee a lot of things, including the professional photographer who is responsible for taking quality photos of your home. They will also help in negotiating the best price for your property. A real estate agent will also write up a listing that sells, hosts, and schedules showings, marketing your property to boost its visibility.
4. Improve your Curb Appeal.
Making a good first impression is essential if you want your home to sell quickly. One of the first things that a buyer notices when searching for a prospective home is the exterior and how it blends in with the neighborhood. Pay attention to the house and its surrounding area if you want to boost the curb appeal of your property.
In this case, doing major renovations may be too late if you want your sale to be urgent. You may have to settle with minor maintenance and repairs outside of your property, such as window washing or paint touch-ups. This helps make sure that prospective buyers focus on the appearance of your house as they drive by in search of potential homes.
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