Home Improvement Ideas to Improve the Value of Your Home

Home Improvement Ideas to Improve the Value of Your Home

Does your home meet the needs of prospective buyers? This is a question you need to ask yourself before putting up your home for sale. When thinking of selling your house, it is important to ensure that it meets the market you are targeting. One of the ways of adding value to your property is by introducing various home improvements. These include the following:

  • Converting the loft – While there are many home improvements that will generate incredible interest in your home, there are those that will generate huge returns. According to valuers, loft conversions are considered among those improvements that are guaranteed to give you value for your money. This is because they are used to add another room and when there is more space, your property is not only more attractive but also has a high value.
  • Build and extension – Building an extension is an expensive and ambitious undertaking yet quite rewarding. Adding extra footage to your property is an excellent way of adding value. You only need to ensure that your extension plans are in line with your property’s style. In addition, the extension should add a space that is functional.
  • Add an extra bedroom – Whether you convert or extend an existing space, you may be tempted to add an additional bedroom. This is known to have a satisfying effect that might increase the value of your property by up to 11 percent. Ultimately, you need to take into account proportions of your home so that you do not cram additional bedrooms when they are not actually needed. Thus, you will do well to think about the potential market before making any changes.
  • Open up space – Open plan living is a trend that is not going away anytime soon. In fact, having a house with lots of natural light, a sociable cooking space as well as a luxurious living area will definitely appeal to all kinds of buyers. Even then, you need to be careful so as not to be carried away. Get professionals to ensure that you do not bash down load bearing walls.
  • Central heating – Having central heating fitted is perhaps not the most inspiring project but a must do when renovating your property. Though the other improvements may go wrong, a modern boiler and central heating are guaranteed to be not only a selling point but also a value-adding project. In fact, they can add the value of your home by up to 13 percent hence are worth taking into account. Having a high efficiency boiler will particularly attract green buyers.

You can improve the value of your property before selling by considering some of the improvements discussed above. However, caution must be taken so as not to spend so much on these home improvement projects so that you are unable to sell your home for a profit. In fact, you will do well to work closely with home improvement experts who also have knowledge of the property market so that they can guide you on which way to go.

5 Home Improvements that Add the Most Value to your Home

Although there are many home improvements that homeowners can consider before selling your property, the most important thing is to determine which improvements give the best return for your property. On average, home improvements have the potential of adding up to 10 percent to the value of the home.

According to a survey done on the value of different home improvements, it was established that when well done, improvements have the potential of adding up to £30,000 to property. Consequently, some improvements can add more than double the return of other improvements.

This means that you need to choose the improvements you will undertake on your property carefully. Here are some of the top home improvements that will add the most value to your home:

  • Conservatory – This provides additional room in the home at the expense of some garden space. You do not need planning permission as is with an extension as long as no more than half of the area of the land of the original house is covered. When putting up a conservatory, you are also exempt from rules on fire safety and structure usually referred to as building regulations if half of the new wall as well as three quarters of the roof is translucent material or glazed and if external doors from the house separate the conservatory. Generally, the return on investment for a conservatory is 108 percent.
  • Garden – During winter, it is easy to forget about the garden and let it become messy and overgrown, However, the front garden is what a potential buyer sees when they come to view the house hence dead plants and a tatty lawn will influence the first impression. Besides, a garden that is taken care of well will give the home a modern and welcoming feel. A well-tended garden has a return on investment potential of up to 88 percent.
  • Exterior – Just like the garden, the exterior of your property is among the first things buyers will see when they come to your property. Chipped doorframes, dirty windows and broken roof tiles will leave a bad impression that will affect the price you will get. You will do well to clean, fix any cracks outside and paint the exterior, as this will make a huge difference. An exterior that taken care of well has a return on investment potential of up to 75 percent.
  • Extension – Extensions are an excellent way of introducing additional space to your property. This may be through expansion of a room or adding more. When done well, extensions will add up to 71 percent of your property’s value.
  • Roof – If buyers have to fix the roof of your home once they purchase, then chances are they will try to push the price down. To avoid this, you will do well to ensure your roof is well maintained, there are no leaks and it is well insulated in good condition. The return on investment for roofing improvements is 63 per cent.

Numerous other home improvements can be undertaken with a return on investment potential of 50 per cent or less. They include the carpet, loft, kitchen and bathroom. Ultimately, all home improvement ideas add value to your property thus; you will need to evaluate how much these improvements will cost against their return on investment before undertaking to incorporate them on your home.

Things to Consider When Renovating Your Kitchen

Your kitchen is the hub of your home. It is where your meals are prepared. If your kitchen is large enough, it is likely that you have a seating area where the family can sit down for a meal. Being that area of the home where people spend a lot of time, it is only right to make it a comfortable and inviting place. As such, you may want to consider renovating your kitchen after some time to with Kitchens Direct. Here are some things you will need to consider:

  • Determine the end result you want to achieve

Renovating a kitchen is more than just improving the aesthetics. You also need to think of better utilization of the existing space. Renovation should also cater to certain lifestyle needs and add functionality to your kitchen. Set clear goals before you start and ensure that the contractor knows what you wish to achieve from the onset.

  • Have a vision for the finished project

Before you start with the actual renovation, be sure to collect samples of materials and colors you intend to use. Thankfully, home improvement companies such as Kitchens Direct run a free sample service that allows customers can have sample pieces of materials delivered to them to help them in their selection process. The worst mistake you can do is to keep improvising as the project continues. If you need any ideas, help is available from an expert at the store.

  • Avoid the latest fad

Interior design trends do not hang around long enough and what is in vogue today will become outdated within a short time. To avoid having to remodel your kitchen every time something new is in style, choose a classic design. The best place to look for renovating ideas is in home and garden magazines. You can also go online and check out blogs and lifestyle magazines. You may also speak to the knowledgeable home improvement staff at Kitchens Direct to provide you with excellent ideas.

  • Attention to details

Paying attention to details will ensure that the result of your renovation is something that you can look upon with pride. You do not need to leave it to your contractor to decide on what needs to be added to ensure the best outcome. Thus, consider things such as draining solutions, the choice of splash back as well as whether to choose under mount or top mount sinks.

  • Design around appliances

It is vital to find out enough information about your selection of kitchen appliances like oven, microwave, fridge and dishwasher because their dimensions will affect your kitchen’s layout. Experts at Kitchens Direct will advise you to ensure that you leave just the required amount of space if you want to avoid unattractive gaps around your appliances.

  • Think about Lighting

When renovating or constructing a new kitchen, lighting plays a very important part in the whole process.  To light up your kitchen, it is best to install three levels of light, which include recessed lights, under-cabinet strip lighting and hanging lights. All these types of lighting have their own unique function in your kitchen. A well-lit kitchen will also be a safe place to work in.

  • Have a Budget

You need to have a budget before you begin renovating your kitchen. Having a small budget does not mean that your renovations efforts cannot look spectacular. You can shop affordable fixtures and fittings than can go a long way in ensuring the success of your kitchen remodeling efforts at Kitchens Direct.

Renovating your kitchen requires having a well thought out plan as opposed to having a haphazard execution. Ultimately, take time to research extensively because renovating your kitchen is an investment that should pay off.

How Do Ready Steady Sell Differ From Other Quick Sale Companies?

  • No selling fees to pay
  • Free house valuation by RICS
  • No lengthy contracts to sign
  • No last minute price drops
  • Best industry price match guarantee
  • A quick sale in a time that suits you

Independent Reviews - What Customers Say About Us

We Have Been Buying Property In The UK Since 2002
Get A Guaranteed Fast House Sale Today

Sell your house for cash with a guaranteed sale in 7 - 14 days!

freephone now 0800 612 6957

Copyright © 2004-2017 Way Of The Website Limited. All Rights Reserved.
"Ready Steady Sell", "RSS", and "Readysteadysell.co.uk" are trading styles of Way of the Website Limited.

Head Office Address: Office 1, Team Valley Business Centre, Team Valley Trading Estate NE11 0QH | Company Registration No: 10041044
We aim to provide you with access to the best possible solution to selling your home quickly. This often means we must pass your details to a third party to assist with your home sale. You are free to opt out of any marketing we do or our partners do at any time.

Disclaimer: We do not provide any financial advice. Ready Steady Sell works with regulated property brokers whom have the ability to purchase your property for cash. Our service is free and you are under no obligation to accept the quotes you receive from our partner companies. You may be contacted by regulated firms that can help you sell your house quickly.

Dealing with a Devalued Property

Dealing With A Down Valued Property

What do you do when you have found the right buyer for your property and have agreed on a price then they suddenly backtrack on the agreement? Well, this is not uncommon when selling property. While it is true that the price of your home is not cast in stone, you must know what to do when your house is devalued.

In most cases, buyers will receive a valuation report from their lender’s surveyor with a lower valuation prompting their move to renege on the price you had agreed on initially. When this happens, you the homeowner will have to go back the drawing board with your price in mind so that you bring it down by a notch or two.  The truth is that it is frustrating to revise your price downwards as well as having to deal with the added paperwork for both you and the house buyer while derailing the sale. Here are some top five tips to help you stay cool, respond to the new price gracefully and keep the sale process on tract when you are faced with a devaluation of your property:

  • Reassess

It is the job of the surveyor to look into every small detail therefore, the first thing you will do will be investigating the reason for the lower valuation. You will then look into the degree of seriousness of this situation and fully address this with the buyer.

Information is power, therefore, gather as much information as possible on this issue from the surveyor and establish how fast and easily the problem can be solved. You may also commission a new report so that you have a second opinion especially if you have a good reason why buyers for paying more than the lower valuation.

  • Repair

Whether you will carry on selling the house to the same buyer or you opt to move on to find someone else to buy the property, it is wise that you use the report to rectify any issues that were raised. You may bring in experts to fix some of the issues that require expert to deal with it. Even then, you need to ensure that these repairs are not too expensive and irrecoverable through the sale.

  • Renegotiate

In some cases, your house may be devalued because the surveyor does not agree with the market price of your property. Thus, you may want to consider convincing the buyer to get a second opinion from another surveyor. Failure to convince the buyer may mean that you accept the surveyor’s opinion and renegotiate the price.

Ultimately, you will do well to be considerate when weighing in on the impact of the report from the surveyor on the value of your property before taking any action. Consequently, should you receive new offers, then consider them carefully and weigh them against what you believe is fair value and the cost of finding a new buyer. Remember, nothing is cast in stone.

Things that Could Slow down the Sale of your Home

Selling your home is more than just carrying out a property valuation and putting up a For Sale sign. In fact, it involves a lot more especially in terms of preparing your property for the market and marketing it.

Whether you just want to sell your home in 2017 or are looking to maximize your chances of selling your home quickly, you need to take caution so that you do not overlook those things that look petty yet they have significant influence on how fast you will sell.

Here are some of the mistakes you must avoid in your bid to sell your home fast:

  • Failure to provide pictures

Including pictures of your home in your listing is a great way to get buyers to view your home and subsequently commit to buy. You can provide many pictures to show off your home in a way that is guaranteed to catch a prospective buyer’s eye. You can take photos with your phone if it has a good camera.

Alternatively, you may want to consider getting a professional to take the photos for you. If you are not sure how to go about the photos, look at other listings to see the kind of pictures other people have taken and see the kind of pictures that catch the eye so that you take similar photos. Generally, you will do well to take many pictures but be sure to use the best shots at the beginning.

  • You do not have a curb appeal

You must refrain from the temptation of making major improvements in the interior while ignoring the exterior. Keep in mind that buyers will be attracted by the outside look of your home before they can consider what inside. In fact, a curb appeal is enough to cause prospective buyers to walk into your property.

Your beautifully remodeled kitchen will only be visible to the buyer if you have a curb appeal. Thus, be sure to fertilize the lawn, trim the trees, put some work into landscaping and replace aging exterior lights. Overall, you need to ensure you impress prospective buyers on the outside letting them fall in love with the property at first sight even before they get inside.

  • Using bad text

You need to pay attention to the text that accompanies your listing. That is, put in some creativity while being careful to stay away from outlandish claims and cliché statements. For instance other than just saying your home is the best in the market or the perfect home for your family when you have not met the buyer, you will do well to emphasize on the suitability of the neighbourhood for young families.

You may also want to highlight the major features of the home that make it unique such as bathrooms, kitchens as well as ease of access. Remember, the text has a limit so make it count.

  • Your home is underpriced

While it is obvious that setting a price that is too high for your property will make it impossible to receive any offers, underpricing could also be a setback. First, it could turn off prospective buyers who may question the worth of you home. Secondly, once you have your price set you cannot raise it back up. Instead, a low price may further attract bargain hunters that are essentially unqualified buyers that can result in taking longer to sell the home compared to if you had sold it at market price.

  • You are present during viewings

It is a little awkward when estate agents walk into your home with prospective buyers when you are present. This tends to be a turn off for the buyer as they find it difficult to see the home as their own. Thus, when you have a viewing scheduled ensure that you clean the home before leaving it for the estate agent.

In conclusion, while you can do certain things to sell your house fast, it is important to also be aware of the things you may not be doing right such as those discussed above. This way, you can be sure to sell your house quickly in 2017.

Improving the Value of your Home by Staging and Decluttering

It is every property owner’s desire to sell property fast and for a tidy sum. Even then, there are things that can devalue your property making it impossible to sell your property for its worth.

There are two major ways to improve the value of your property before selling. These are decluttering and staging.

Decluttering

You will do well to declutter the house so that is appears to have more space. The majority of potential buyers are attracted by space that will not only hold all their belongings but also help them to stay organized. Some of the areas that you need to consider for decluttering include the following

  • Bathrooms – from the medicine cabinet to the countertops, linen closet and the area under the sink, you must ensure that your bathroom is devoid of clutter. You can achieve this by limiting the number of items that you place on your counter top, disposing unnecessary items beneath the sink and neatly folding linens and stacking them according to their color.
  • Kitchens – The kitchen too must be well organized, as it is one of the major selling points for your property. Thus, ensure there is no clutter on the counter top, box up dry goods and store in the food back, ensure the refrigerator is clean and without old condiments while maintaining orderliness.
  • Closets – Be sure to pack and store those clothes that you do not need during the prevailing season. In addition, separate your clothes according to the type and color and get keep away extra hangers.
  • Laundry room – Ensure that all the products in your laundry room are orderly and neat creating the impression that it is easy and fun to do laundry in that space.
  • Kids’ stuff – All toys must be put away in bins or boxes. Those that do not fit need to be placed in storage so that the house is not cluttered.
  • Office – Corral computer cords and paper need to be filed away. Most importantly, your office desk must be clear of clutter by accommodating just a few items for displaying.

Staging

Staging your house is important as it helps it to look inviting, open and airy. When you stage your house, potential buyers will walk into your house and want to relax on the couch or have the desire to take a bath. Without staging, the house will look down and dull instantly turning off prospective buyers.

Here are some of the considerations you should take into account when staging.

  • Spacious – Make your rooms appear spacious by storing all the unnecessary furniture. This promotes easy movement around the room and the house generally.
  • Plants – Be sure to replace all the dying and dead plants, while being keen to use real plants as opposed to fake ones.
  • Bathroom – You will do well to use fancy shower products and hand soap when staging showings. Keep in mind that potential buyers are not interested in seeing your facial wash and even razor.
  • Personal items – Depersonalize your property by removing all personal items so that potential buyers see themselves living in that space and not you.

Staging and decluttering are a great ways of giving your property a facelift and special appeal by making your space more comfortable and organized. Prospective buyers will be attracted by a home that is harmonious and instantly want to live there.

You may also want to consider other home improvement tips that will give your property a boost. In addition, you may want to seek the advice of property experts to understand the current state of the market.

How Do Ready Steady Sell Differ From Other Quick Sale Companies?

  • No selling fees to pay
  • Free house valuation by RICS
  • No lengthy contracts to sign
  • No last minute price drops
  • Best industry price match guarantee
  • A quick sale in a time that suits you

Independent Reviews - What Customers Say About Us

We Have Been Buying Property In The UK Since 2002
Get A Guaranteed Fast House Sale Today

Sell your house for cash with a guaranteed sale in 7 - 14 days!

freephone now 0800 612 6957

Copyright © 2004-2017 Way Of The Website Limited. All Rights Reserved.
"Ready Steady Sell", "RSS", and "Readysteadysell.co.uk" are trading styles of Way of the Website Limited.

Head Office Address: Office 1, Team Valley Business Centre, Team Valley Trading Estate NE11 0QH | Company Registration No: 10041044
We aim to provide you with access to the best possible solution to selling your home quickly. This often means we must pass your details to a third party to assist with your home sale. You are free to opt out of any marketing we do or our partners do at any time.

Disclaimer: We do not provide any financial advice. Ready Steady Sell works with regulated property brokers whom have the ability to purchase your property for cash. Our service is free and you are under no obligation to accept the quotes you receive from our partner companies. You may be contacted by regulated firms that can help you sell your house quickly.

A Legal Checklist For Selling A House

Legal Checklist For A House Sale

The process of selling a house is complex, as there are legal issues involved. In fact, before putting up a “For Sale” sign, it is crucial that you take care of the legal issues first.

Thus, whether you need to sell the house fast due to financial difficulty or you are going through a divorce, it is important to ensure you are protected from pitfalls that unsavvy sellers face.

Here are some four legal issues that you must address when selling your property:

Resolve debts

If your has incurred some debt, lien or encumbrance, it is important to ensure that this is taken care of before settling with your buyer. This obstacle may come up through several ways that include the following:

  • Civil court judgements
  • Federal, state or even tax liens
  • Missed spousal support or child support payments
  • General unpaid debts
  • Unpaid home owners association dues

While the outstanding amount will very significantly from one homeowner to the other, the lien hold will be paid. Thus, if you are faced with a major civil judgement or tax lien then selling your property is definitely not a solution especially if you defraud the buyer or try to hide the debt. Keep in mind that when a buyer orders a title search, the lien will appear and be considered for a deduction from the proceeds of the sale.

Get joint tenants on the same page

Your property’s ownership structure is likely to influence the ability to sell. This is particularly common in the case of property that is inherited and has several members of the family listed as joint tenants. In such a case, there are limited options when it comes to selling the property.

Thus, you may consider gathering consent from all the listed tenants or divide the property in the state’s court of equity even though this is an expensive, combative and lengthy process. The idea is to ensure that you have everyone on the same page to agree on the division of the proceeds before the sale.

This also applies where you are going through a divorce or when selling your marital home. If the property was owned through joint tenancy or even tenancy by entirety, then it is important that both owners sign the transfer deed to the new buyers and come up with an agreement on how the proceeds shall be split. Consequently, selling property without the knowledge of your ex will land you in trouble as you might end up facing fraud charges.

Draft a home sale agreement

Having a sale agreement in place will most certainly ensure the sale process is smooth is encouraging open communication and clear contract terms that address division of profit after the sale especially where one partner is not listed on the deed.

Most importantly sit down with your partner to go over the financials of the property while paying attention to the outstanding mortgage debt, asking price as well as the bottom line offer threshold.

Your agreement should address allocation of proceeds, responsibilities of the parties involved in terms of encumbrances and debts as well as any other terms. This will protect you from pitfalls of litigation in the event the sale collapses as the court can only help the party whose name is on the deed.

Gather all important documents

It is important to gather have all important documents relating to the property such as evidence of encumbrances, liens or judgements, deed, appraisals, surveys, agreements between cohabiting partners and tenants, comparable sales in the area, documentation of damage, improvements and repairs, copies of restrictive covenants imposed on community and any agreements between you and the estate agent among others.

It is important to understand and address all the possible legal concerns related to selling property before putting your house up for sale. This will ensure that you have a smooth sale and stay out of trouble.

How Do I Know Which Estate Agent To Choose To Sell My Home With?

It is no doubt that estate agents play a crucial role when selling your property. However, this does not mean that they can be entirely trusted. Remember, they are not acting in your interest as they are in business hence, some estate agents my use certain traps to get you to sign up with them.

Besides, some rogue estate agents are constantly seeking to make as much money from every sale of property by luring you into using financial and legal services that are expensive. Selling or buying a house is a huge financial decision that you will ever make hence the need to ensure that you are not just at ease with the estate agent you will select but are also familiar with how they operate their trade. This way, you will be able to protect yourself from making poor financial decisions.

One of the ways of protecting yourself is understanding the common traps that estate agents use and how to avoid them. Here are the seven common estate agent traps of all time that you need to avoid:

  • Lofty valuations – Property valuation is more of an art as it involves a number of variables that range from prevailing economic conditions to the forces of supply and demand among others. However, it is common practice for some estate agents to overvalue property with the aim of securing business.

As a result, when the property does not sell they will then advise you to go for a price cut. This is especially true where the price of the property is above the stamp duty threshold. By this time, the agency would have signed you up for a contract of between 12 and 26 weeks leaving you out of pocket.

The bottom line is, be sure to read your contract carefully and comparing several valuations before signing the contract. Where possible, get an independent solicitor to guide you through the contract terms.

  • Failure to get the best price – Although you may sell property, this may not necessarily be the best price despite earning a commission to sell the property for you. Thus, what is the point of paying the agent only for them to sell it for less than its worth?

To protect yourself from this, we advise that you make a request for a sliding scale of commission. That is, if your property is valued at £300,000 you negotiate for a 1% fee if the agent sells your property for less than the £275,000, 1.25% if the property sells for between £275,000 and £299,999, 1.5% if the property sells for between £300,000 and £325,000 and up to 1.75% if the property sells for more than £325,000.

  • The use of smoke and mirrors in the online property listings – This is particularly targeted at buyers who begin their search for property online. Estate agents will often take advantage of the online platform by using generous measurements coupled with crafty photography as a bait to get buyers to view the property.

Thus, you will do well to focus on the layout as well as location of the property more than the glossy photos. Most importantly, do not always take the measurements given on the property listing as being 100% in terms of accuracy but rather as a guide.

Generally, estate agents are allowed up to 10% margin of error in the dimensions they provide for property listings thus there is the temptation to round up by a couple of inches.

  • Sending a wrong impressions – In some cases, agents may encourage interested buyers to make an offer by coming up with phantom offers that will drive your price up. This contravenes the Consumer Protection Regulations that seeks to prevent bad practice.

Thus, if you are suspecting a false bid ensure that you see written proof of the existence of the third party and their willingness to make that high offer. Similar techniques that pressure prospective buyers include sealed bids and open house as they can result in would be buyers increasing their offers in fear of losing to another buyers.

  • Advocating for and in-house mortgage broker – The existence of fewer completed sales means that agents are offering home loads with the view of boosting their income. Various agents emphasise on the use of their mortgage service arguing that you will receive either preferential treatment or risk losing the chance to purchase the property if you do not use the mortgage adviser.

Generally, the agent-based advisers operate off a limited panel as opposed to an entire mortgage market meaning you are unlikely to get the best possible deal. Instead, you may end up with hidden fees as well as elevated prices. It is illegal to be subjected to this kind of pressure.

  • Expensive protections for your family – Here, the agents offer a guarantee of your family’s peace of mind in the event that you die and have not completed making repayment. While this offers sounds sensible, you are likely to pay more than you would normally pay. Therefore, be sure to shop around for alternatives before buying a policy.
  • The hard sell on home cover – Estates agents my offer property together with mortgages or content insurance through providers of their choice even though you are likely to find better deals on your own.

While this may appear to be less of a hassle and more convenient, it is important that you only do so if you have an idea of the cover you need. In addition, you will do well to draw a comparison with the alternatives at hand. It is more reasonable to get insurance quotes prior to exchanging contracts to ensure you get the right cover.

You can cut costs by paying your premium in full as paying monthly can attract interest rates of up to 24%. Another way of adding to your savings is through purchasing your insurance through a cashback site.

The role of estate agents in buying and selling property cannot overlooked. As such, it is incumbent on you to ensure that you do your research and interrogate anything that does not seem to be done above board so that you do not end up as a victim of their traps.

How Do Ready Steady Sell Differ From Other Quick Sale Companies?

  • No selling fees to pay
  • Free house valuation by RICS
  • No lengthy contracts to sign
  • No last minute price drops
  • Best industry price match guarantee
  • A quick sale in a time that suits you

Independent Reviews - What Customers Say About Us

We Have Been Buying Property In The UK Since 2002
Get A Guaranteed Fast House Sale Today

Sell your house for cash with a guaranteed sale in 7 - 14 days!

freephone now 0800 612 6957

Copyright © 2004-2017 Way Of The Website Limited. All Rights Reserved.
"Ready Steady Sell", "RSS", and "Readysteadysell.co.uk" are trading styles of Way of the Website Limited.

Head Office Address: Office 1, Team Valley Business Centre, Team Valley Trading Estate NE11 0QH | Company Registration No: 10041044
We aim to provide you with access to the best possible solution to selling your home quickly. This often means we must pass your details to a third party to assist with your home sale. You are free to opt out of any marketing we do or our partners do at any time.

Disclaimer: We do not provide any financial advice. Ready Steady Sell works with regulated property brokers whom have the ability to purchase your property for cash. Our service is free and you are under no obligation to accept the quotes you receive from our partner companies. You may be contacted by regulated firms that can help you sell your house quickly.

Questions to Ask your Estate Agent before Selling your Property

Questions To Ask Your Estate Agent

When you think of selling your home. The first thing that comes into mind is enlisting the services of estate agents. This is largely because when you opt to sell your home on your own, it can be quite tough navigating the property market without assistance.
 

It is paramount that you choose your estate agent carefully and wisely bearing in mind that they will be handling an important process on your behalf. Thus, be sure to ask some of the smart questions and get happy responses before entrusting your most prized financial asset with them.

If you are not sure where to begin, here are some of the 8 top questions you need to ask your estate agent before selling your property:

How much fees do you charge?

It is important that you first know the full cost of the estate agent before engaging them. In particular, ensure you know the total price you are likely to pay for all the services that are offered. With lower overheads, online estate agents may be a good option as they are able to sell your home for a reasonable fee as opposed to high street estate agents that charge a percentage of the sale price.

How will we communicate?

Establish the modalities of communicating and interacting with your estate agent during the sale. For instance, will there be one point of contact and can you reach the them through email or do you need to call them. Most importantly, what hours is the estate agent available?

Is the property neutral enough?

It is presumed that the estate agent will have wide experience of selling houses successfully. Thus, be sure to tap into their knowledge bank so that they suggest to you ways through which you can make the house more appealing to prospective buyers. In fact, they can be a fresh pair of eyes the will help you point out those things that you may have missed.

What price can you sell the house for?

It is vital that you work with the lead from your estate agent on the price you can achieve from a sale. Even then, you also need have a figure in mind that you will share with your agent and hear their view. Remember, their expert knowledge is crucial when arriving at the final price.

What other houses do you have on the market whose prices fall within this bracket?

You will do well to find out what the market is like by talking to your estate agent about the other homes they are selling on the property market. It is important to carry out a research on other properties that fall in your price bracket carefully paying attention to the duration they have been listed on the market. While at it, consider what they offer and how many they are. This is a great way of comparing your property to competition. Besides, by talking to the estate agent about other homes they have listed, you will be able to gauge the state of the market.

How fast can you sell?

Although it would be difficult to say exactly the duration it may take to sell your house, you may try and assess how fast the estate agent thinks the process should take. They will have a good guess on how long it takes to sell property whose properties and price fall within your price bracket within the particular geographical area.

Can you recommend a conveyancer?

The majority of estate agents are usually able to recommend a conveyancer to take care of the paperwork that is necessary to complete the sale of the property. They may know of someone that charges reasonable fees hence are able to give you a quick turnaround. Even then, be sure to get several quotes.

Where will you list the property?

It is important that you get to know where the estate agent will list your property for effective exposure to prospective buyers. With almost all the house searches beginning online, you will do well to ensure that your home features on all the major search sites to reach as many prospective buyers as possible.

Overall, while selling your house through estate agents is meant to be stress free, you need to understand that there are some estate agents that use dirty tricks to get clients to sign up with them. Therefore, by asking these questions you will not only be guaranteed of a quick sale but also avoid unscrupulous estate agents that are likely to turn your house selling experience into a nightmare.

Property Viewings – Who should do them?

You have picked your estate agent, tidied the house and are ready to see prospective buyers walk through. Who will do the viewings?

Property viewing is crucial to a sale. There are different approaches to this even though questions still arise on whose responsibility it is to conduct viewings. While online estate agents will leave this to the homeowner unless you discuss it with them, high street estate agents offer this amongst their services for which they charge you a commission-based fee. The best way to determine who should conduct property viewings is by looking at the following factors:

Convenience

Statistics show that at least 39 percent of property viewings are conducted during weekends and after work. This is largely because just like the homeowners, most of the buyers work full time making it difficult to show them around during work hours. For this reason, most homeowners who are caught up in their busy careers and an equally active social life would rather find someone else to conduct viewings. This is not only convenient for them but also for the buyer especially those who may want to view the property during working hours as you can carry on with your work without worrying about going to show a buyer your property.

Safety/Security

Estate agents usually help when it comes to checking our prospective buyers before agreeing to view your property. This is not only a way of qualifying them but also establish if there is a security concern for both themselves and the homeowner. While, the majority of buyers are polite, friendly and well behaved, there will always be an exception and you do not want to encounter this singularly. Keep in mind that there are those buyers who may opt to rummage through your personal belongings.

Knowledge

It is obvious that you know your home more than anyone else does and are able to talk confidently about historic price changes, local amenities, local comparable sales, school league tables, local search results and other things that the buyer may ask. However, this should not be the only reason you are opting to conduct viewings. Generally, questions concerning the house will make up 20 percent of the conversation with buyers as they can see if anything is wrong or any other concern. All you need to do is ensure that all the buyers’ questions are answered satisfactorily at the property so that they do not leave with doubt lingering in their mind.

Comfort

Generally, buyers tend to feel uncomfortable with homeowners. In fact, statistics show that nearly 50 percent of the offers are achieved from viewings done by estate agents. Homeowners may unknowingly be guilty of pushiness, over-familiarity or verbosity among other things. Besides, agents would usually have had a conversation with the buyer prior to viewing where they build a rapport and taken note of what is important for the buyer. In addition, buyers who intend to re-plan the property will be more willing to discuss this with the agent than a homeowner.

Expectations

If you are paying an estate agent to sell your property, then it is only practical that you expect full service. This includes conducting viewings.

Emotion

Your house is your home and you definitely will be desperate to have every buyer love it. Even then, the information you need from a viewing is what is wrong that can be fixed to improve the chances of selling. The success rate on viewings is usually between 10 to 13 viewings per offer  as there will always be people with plenty of negative talk and assumptions. Thus, it is best to let the estate agent take the emotion from the viewing and focus on giving you feedback.

Targets

In some cases, estate agents may have negotiators whom they push towards achieving a certain target. The effect of this is that you will end up with just about everyone on your property whether the property is right for them or not.

Punctuality

This is a problem that estate agents are faced with so often as most buyers are usually unable to arrive for viewing on time.

Overall, it is generally easier to conclude that viewings should be left for estate agents to handle. However, this will not always be the case as homeowners may be required to be present to respond to any questions that the buyer may be having at the time.

Tips to Reduce Fees When Selling your Property

Selling property can a costly process, as you need to pay estate agent fee that is usually between 1% and 3.5% of the selling price. Additionally, you may be required to pay an additional fee of between £500 and £1,500 for conveyancing and up to £120 for EPC. When added up, these costs make the home selling process too pricey.

The good news is that there are things you can do to lessen these fees in four areas namely estate agent fees, photos, viewings and negotiating. Below are some tips to help you cut on the fees associated with selling property so that you can save money from the sale of your property:

  • Consider working with online agents – High street estate agents are usually compensated for their services on a commission basis. This is usually a fraction of the selling price usually between 1% and 1.3%. While this may seem insignificant, it makes a whole lot of difference when translated into cash. Thus, you can save on estate agent fees by opting to work with online estate agents that work on a fixed fee basis.

Consequently, you can be sure to save money in fees especially if the house prices continue to soar because the fee paid to the agent will be the same. Although you will be required to pay for online advertisement, you can be sure of saving significant amounts of money.

If you are not familiar with online estate agents and how they work, you will do well to use the internet to research and equip yourself with as much information as possible before committing to work with and online estate agent. Most importantly, be sure to find out from the online agent where they can advertise your property

  • Photos – You do not need an estate agent to capture best shots of your property for you. You have better knowledge of your property than anyone else. Therefore, you will do well to take the photographs that best show off the best features. In fact, you do not need a good camera if you have a smart phone with a decent camera. All you need to do is take your time and capture your property in its glory. For the best result, ensure that your home has good lighting, it is tidy and clean. Most importantly, get rid of all clutter or simply ensure that it is hidden. The entry of natural light is an excellent way of ensuring that your home feels airy and light. Take photographs of all the rooms as well as the exterior. Take caution in rooms where there are mirrors as they can be reflective resulting in unintended selfies.
  • Viewings – Although estate agents are handy when it comes to facilitating property viewings, you can actually do without them. In fact, as a property owner you are in a better position to respond to questions that prospective buyers may have. Moreover, not only are you knowledgeable about the property but also the town hence can talk authoritatively about the local schools as well as other social amenities that are within the proximity of your property. Before you open up your home for viewings, you need to ensure that you have taken care of the exterior and have a good curb appeal. Remember, gardens can be a great selling point when they are well taken care of. Even then, you need to ensure that you give prospective buyers space because acting too keen may be a source of suspicion.
  • Negotiating – This is another reason you will want to engage an estate agent yet you can do without. Online estate agents usually give you the liberty to choose whether you will negotiate with the buyer or not. While you can negotiate on your own. However, you should only go for this option when you have researched sufficiently so that you settle for a price that is realistic.

Well, as you can see, selling property does not have to be an expensive undertaking. With adequate research and property preparation you can sell your property alone thus eliminating estate agents. Be sure to take this option only when you have sufficient information on the dynamics of the property market.

How Do Ready Steady Sell Differ From Other Quick Sale Companies?

  • No selling fees to pay
  • Free house valuation by RICS
  • No lengthy contracts to sign
  • No last minute price drops
  • Best industry price match guarantee
  • A quick sale in a time that suits you

Independent Reviews - What Customers Say About Us

We Have Been Buying Property In The UK Since 2002
Get A Guaranteed Fast House Sale Today

Sell your house for cash with a guaranteed sale in 7 - 14 days!

freephone now 0800 612 6957

Copyright © 2004-2017 Way Of The Website Limited. All Rights Reserved.
"Ready Steady Sell", "RSS", and "Readysteadysell.co.uk" are trading styles of Way of the Website Limited.

Head Office Address: Office 1, Team Valley Business Centre, Team Valley Trading Estate NE11 0QH | Company Registration No: 10041044
We aim to provide you with access to the best possible solution to selling your home quickly. This often means we must pass your details to a third party to assist with your home sale. You are free to opt out of any marketing we do or our partners do at any time.

Disclaimer: We do not provide any financial advice. Ready Steady Sell works with regulated property brokers whom have the ability to purchase your property for cash. Our service is free and you are under no obligation to accept the quotes you receive from our partner companies. You may be contacted by regulated firms that can help you sell your house quickly.

Dealing With Estate Agents

A Guide To Estate Agents

Understanding Estate Agent Contracts

Before signing the estate agent contracts, it is important to understand the terms contained therein so that you do not land in trouble. Some of the key terms that you must understand include the following:

  • Fixed fee – Although most of the agents charge a percentage of the price your property sells for, others will charge you a fixed amount. This is usually cheaper even though you may need to make the payment upfront. The downside of the fixed fee approach is that you end up paying whether the agent sells your property or not.
  • Multi-agency agreement – As the name suggests, here you enter into a contract that allows more than one agent to act for you even though you will only pay that one that will sell the property. The agent fee here is much higher, usually between 2% and 3.5%.
  • Notice period – This refers to the period that you must wait between the time you inform your agent of your intention of the contract and the actual termination. In most cases, this is usually two weeks.
  • Open ended agreements – With this agreement, the agent is entitled to claim commission if the property is sold to someone they introduced your property to regardless of the duration.
  • Ready, able and willing buyer – Avoid contracts that have this clause as it means that you must pay the agent for identifying a buyer even if there is a change of plan and you withdraw the property from the market.
  • Sole agency agreement – This is the most common contract that lets you find a buyer in which case you will not pay the agent fees. The fee charged for this contract is between 1-2%.
  • Sole selling agreement – With this contract, only the estate agent that can sell the property during the contract term. They can claim a fee of between 1% and 2% even if you will find a buyer on your own hence; this type of contract is not popular.
  • Terms of payment – You will do well to go for a contract that allows a few days for money transfer before you are charged interest.
  • Tie-in period – This refers to the period that you are bound to the contract from the date of signing. Consequently, changing agents before the tie-in period elapses could mean that pay fees to the initial agent. Generally, the shortest period is six weeks. It is advisable to work with the shortest period possible keeping in mind the notice period.

Overall, estate agent contract are legal documents that must be looked at keenly reviewed by a qualified solicitor before you put into to the paper. Therefore, be sure to consult with your solicitor widely to have a clear understanding of the terms that are included on the document before signing. This way, you can be sure of your rights and be able to determine the options that you have at your disposal in the event that the sale does not go according to your expectations.

Should I work with an online estate agent?

If you are grappling with the decision of whether to work with estate agents or not, there are a few factors that you must take into consideration. In fact, there is no straight answer to whether you should use an online estate agent or not. Here are some quick guidelines to help you determine if you need to use an online estate agent:

  • If you have done your research and are convinced that you are sufficiently informed about the property market, you need to determine if you will be comfortable showing buyers around your property before signing up to work with an online estate agent.
  • If you have good knowledge of the area and the property market but do not have the time to spare showing potential buyers the property then you would rather consider the high street agents.
  • You need to take into consideration where your property will be listed. Online estate agents can only list your property on certain property portals. A good online agent should be able to list your property on portals that are not just popular but also have a wide audience.

Ultimately, you need to keep in mind that online estate agents are governed by the same regulations governing high street estate agents. Thus, they too need to belong to at least one of the three estate agent redress schemes that include the Ombudsman Services, the Property Ombudsman and the Property Redress Scheme. These bodies are charged with investigating cases of breach of the estate agent Act among other things.

Therefore, be sure to ask your estate agent which of the redress scheme they belong to as this will be the first place to turn to in the event that things go wrong and cannot be solved at the estate agent level.

Estate Agent Malpractice: How to Complain

Using an estate agent to sell your property can be hectic. In fact, if you are dealing with estate agents for the first time, you might be afraid of being lied to, misled or mistreated.

Even then, have you ever thought about what you would do if your estate agent acted in breach of contract?

For starters, you need to understand that estate agents are not allowed to mislead their clients. As such, there are a number of bodies that have been put in place to regulate as well as arbitrate any disputes that may arise in the course of a transaction.

The Consumer Protection from Unfair Trading Regulations (CPRs) requires estate agents to do the following:

  • Ensure they give accurate information either verbally, in pictures or in writing. Consequently, making false claims of belonging to a professional body, making unfair comparisons or offering a misleading description of property would amount to a breach.
  • Avoid putting undue pressure on either party to act fast either by putting up an offer or raising their price.
  • Ensure they do not withhold any important information that is vital for potential buyers to make a decision.
  • Have in place guidelines for addressing complaints.

On the other hand, the Estate Agents Act 1979 requires estate agents to:

  • Explain in writing terms such as sole agency, sole selling rights as well as ready willing and able purchaser especially if they are using them in the contract.
  • Have details any fees involved in writing before they agree to act for you.
  • Avoid showing bias against or towards any potential buyers and also pass offers that buyers make to the sellers.

What to do if you think an estate agent acted illegally

When you realize that the estate agent has acted illegally, the first thought would be to take legal action. However, this can be costly. Besides, a judge will only take up your case if you have exhausted all the other avenues that include the following:

  • Consider pursuing the estate agents internal complaints procedure. A good estate agent should have their own mechanism of handling complaints. Thus, you should begin by complaining to them and allowing then to investigate and resolve the complaint. This means that you need to have copies of communication with your estate agent, look up for the estate agent’s internal complaint policy as well as code of conduct and put the complaint in writing.
  • If you are not able to resolve the issue, then take it to the body that regulates estate agents; The Property Ombudsman. This body exists to offer independent, free and fair service in dispute resolution between estate agents and clients. They are guided by a code of practice that member agencies need to abide by. Thus, if you feel aggrieved then you need to refer your case to them so that they can investigate fairly and impartially by listening to both parties.
  • Lastly, if you still cannot find a solution to this issue you can complain to a professional body. Your estate agent need to be a member of professional bodies or trade associations. If you cannot get this information on their paperwork and brochures then ask them because you will need them in case you run into trouble with the agent. If the agent is in breach of the code of practice and rules of membership then disciplinary action can be taken against them by the professional body.

It is not every day that you will run into trouble with your estate agent. However, you will do well to ensure that you screen the estate agents before you commit to working with them as this can help you avoid unforeseeable issues that may end up for arbitration.

Further information and reading:

Property Redress Scheme

The Property Ombudsman scheme: free, fair & impartial redress

Estate Agency Team - National Trading Standards

How Do Ready Steady Sell Differ From Other Quick Sale Companies?

  • No selling fees to pay
  • Free house valuation by RICS
  • No lengthy contracts to sign
  • No last minute price drops
  • Best industry price match guarantee
  • A quick sale in a time that suits you

Independent Reviews - What Customers Say About Us

We Have Been Buying Property In The UK Since 2002
Get A Guaranteed Fast House Sale Today

Sell your house for cash with a guaranteed sale in 7 - 14 days!

freephone now 0800 612 6957

Copyright © 2004-2017 Way Of The Website Limited. All Rights Reserved.
"Ready Steady Sell", "RSS", and "Readysteadysell.co.uk" are trading styles of Way of the Website Limited.

Head Office Address: Office 1, Team Valley Business Centre, Team Valley Trading Estate NE11 0QH | Company Registration No: 10041044
We aim to provide you with access to the best possible solution to selling your home quickly. This often means we must pass your details to a third party to assist with your home sale. You are free to opt out of any marketing we do or our partners do at any time.

Disclaimer: We do not provide any financial advice. Ready Steady Sell works with regulated property brokers whom have the ability to purchase your property for cash. Our service is free and you are under no obligation to accept the quotes you receive from our partner companies. You may be contacted by regulated firms that can help you sell your house quickly.

How to Get the Best Property Valuation Possible

How To Get The Best Valuation Price

 

Before embarking on the valuation of property, it is important to keep in mind that the valuation is done by surveyors who are human. Consequently, they will rely on the evidence that is before them when carrying out their desktop valuation as well as when they get to the site to view the property. How then can you ensure that the valuation they come up with is the best? Here are some guidelines to observe:

Go with them on site – When you meet the surveyor on site, you have a chance to ensure that they have access to just about every area of the property. In addition, you will be able to respond to any questions they may have so that they do not end up making assumptions based on what they see.

Share with them what you have done – Whether you redecorated your property, recently replaced the bathroom or kitchen sinks, put up an extra extension, fixed the roof or have had some structural works done, be sure to talk through all that with the surveyor. This is because while some of these works may seem or are obvious, the surveyor may not know that you did some things that significantly bump up the value of your property such as replacing the external gutter that was previously causing dampness in the home.

Talk about the amount you paid for the property and how you have added value – Estate agents will usually remain tight lipped when it comes to discussing how much a property sold for recently or even the offers that are in on a property. Ironically, they will be more willing to share information on comparative evidence with surveyors. This is because surveyors are at the top of the property chain so estate agents will want to keep them happy.

Ensure the surveyor is aware of the amount you paid for your property and the circumstances around it especially if you paid less  or more than the value of the property at the time for example you bought the property from a family member. This gives you a good chance of increasing the valuation you will receive. Apart from the buying price, you also need to let the surveyor know of works you have done on the property that has increased its value.

  • Bring up the issue of comparative evidence especially if it will make the valuation count – If you are sure that the house next door sold for the price you are looking to achieve, let your surveyor know about it. Chances are that he too would have this information. However, it costs nothing to remind them. You can also provide data to show that the prices of property in the area have gone up by a certain percentage since the sale of the house next door.
  • Talk about the views of estate agents – At this point, you must resist the temptation to lie as the estate agents can confirm. If other estate agents have valued your property for what you are looking for then this will show the degree of local knowledge the surveyor possesses and can use. If you have paperwork with the valuation estimates from the other agents, this is a good time to present them to the surveyor. A decent agent will not only show you comparable evidence but also the reasoning behind the valuation.
  • Discuss offers you have received if more than one – If you have received more than one offer for your home and some of those offers are 20% lower than the price you are hoping to achieve, you will do well not to share that information with the estate agent. However, if they are close to the price then you can let the surveyor know. Keep in mind that it is not unusual to reject higher offers owing to the circumstances of buyers. For instance, they may have been in a chain yet you wanted a quicker sale. You will do well to mention this to the surveyor.

Property valuations lay ground for successful property investment for both the homeowners and buyers. Thus, it is critical to ensure that the valuation is not only accurate but also binding especially if you are hoping to receive financing from financial institutions. It is also important to ensure that you do not only rely on a single valuation rather, always ensure that you get valuations from at least three estate agents. This gives you an opportunity to draw comparisons before determining your asking price.

You will also do well to equip yourself with adequate knowledge on the property market, as this will enable you to make informed decisions. Keep in mind that some estate agents may want to use bad tricks such as over valuing your property to win your business. Therefore, be sure to interrogate the valuation report you will receive from your surveyor or estate agent before using it as a basis for the decisions you will make.

Property Valuation Methods

There are different methods through which property valuation may be conducted. While these methods vary, the end goal is the same. Thus, before setting out to request estate agents or surveyors for a property valuation you need to have proper understanding of these methods and what is involved. The five property valuation methods that are generally recognized globally are as follows:

Investment Method – This approach uses discounted cash flow techniques to determine the value of property through the incoming producing nature of the asset. It is common when carrying out commercial valuations and HMO valuations.

Comparative method – As the name suggests this entails drawing comparisons against properties that are similar to yours. It is mostly used by residential investors as it offers results that are reliable and accurate.

Profits method – This is used more as a valuation for business premises like cinemas and hotels where the value of property is tied to the potential to generate profits in the near future.

Residual method – This method is used when you want to establish the valuation of development sites. It generally uses the cost of developing the land as well as the final gross development value to assign the value of the property.

Replacement cost method – The cost of the land as well as the cost of rebuilding the structure are the foundation of this valuation. This method is usually reserved for buildings that have very little comparable evidence like schools, churches among others.

While property developers will need to have a good understanding of the Residual method of valuing property, for commercial investors as well as HMO investors, the investment method will be most relevant to them. Overall, for any other kind of property investor, having an understanding of the comparative method will do. Thus, it is incumbent for you to know where your property falls to ensure that you get the best valuation possible.

Useful Tips for Determining House Price Valuations

Property valuation is inevitable for homeowners who are seeking to sell their property. The good news is that the web is an excellent goldmine for both buyers and sellers. For instance, homeowners can use different resources to access information that will help determine the value of their property. Here are some tips for determining house price valuations before sale:

Check the recent sold price for other home on the street

Valuations between various estate agents will vary significantly. However, a number of websites offer access to detailed and specific data that was initially a preserve of mortgage lenders and estate agents.  This data is mainly adapted from the Land Registry hence quite reliable. Knowing the price for which property that is similar to yours sold gives you an idea of how to price your home and what the price ceiling should be. Most is of the data you will find will be mostly from the past six months which means it is not only recent but also relevant.

Track house price trends nationally or by area

Having an overview of the market lets you goes to show how properties are changing ownership and for how much. The Land Registry collects official data on actual sales, while carefully capturing every residence that sold. The House Price Index gives the average prices of houses by region and country breaking them down to different property types. Even then, you need to know that these are usually behind by a month or so.

Take the valuation results with a pinch of salt

Generally, you should never rely on the valuation figures that you are given without subjecting them to investigation. You may use Zoopla to get a rough estimation of how much your home is worth. Simply key in the post code and it will give you an approximate indication of the sale prices of property within your area. Alternatively, you may select a home in that street and get a bespoke valuation based on the previous sale prices as well as market climate.

Get a second opinion

You will do well to get a second opinion on how much you can expect to receive for your property by asking for free estate agent valuations or using online tools like the Property Price Advice. This site is not only easier to work with but also quicker. It is based on a number of questions and requires you to provide an email address.

Check the housing market forecast

You may want to take a look at the future predictions of what to expect in the property market in future and how that affects the current value of your property. This is usually important when you want to emphasize on the value of your property especially if prices of property within your street are expected to go up in the coming years.

Find out the local asking prices

Unlike before when the only way to see the asking prices for property was through peering into the estate agent’s windows, today there are numerous search sites you can access this information easily. Keep in mind that asking prices are usually wildly optimistic as it shows what the seller intends to get for the property and not what they actually get.

Monitor house prices on the go

You may also want to monitor house prices on the go. That is, using the Rightmove app, you can keep track of properties within your locality that are up for sale with the help of GPS technology.

Check for air pollution and flood risk

Although most people will want to ignore this when seeking to sell property because of the negative impact it may have on the price and the property value, establishing if your property is susceptible to flooding is important. If your property is not vulnerable to either flooding or air pollution, you are much safer arguing out its worth.

Overall, before selling your property you must ensure that you know its actual worth and the best way to do this is through a credible valuation. Do not shy away from seeking a second or third opinion on the valuation you have received from the estate agent. This will ensure that you come up with an initial asking price that is realistic.

Understanding the Role of Property Surveyors

When you are planning to sell your property, the first thing you need to know is it actual worth. This usually serves as a guide for setting the initial asking price as well as determining how much you can settle for after haggling with a prospective buyer.  It is also an excellent way of ensuring that you do not sell your property for a price that is much lower that you hoped. What then is the role of property surveyors in property valuation? Read on.

Understanding the role of surveyors – Property surveyors, who profess membership to the Royal Institution of Chartered Surveyors are professionals that are mandated to determine the market value of property based on predetermined guidelines.

The market value refers to the amount of money for which a liability or asset should exchange between a willing seller and willing buyer within an arm’s length transaction on the date of valuation after proper marketing and the parties acted prudently, knowledgably and without compulsion.

Surveyors make assumptions when valuing the property. In the case where you feel the surveyor is messing up your plans, it may be because they deem your property to be of lesser value than you do. The surveyor may be acting on behalf of someone else that may be the buyer or a mortgage lender. Overall, the instructing party will demand a realistic valuation with a preference for pessimism as opposed to optimism.

Property valuation may be used to negotiate down the price of a property. It also gives lenders confidence that they can easily recover the money lend against the property easily should you default in payment. Therefore, it is important to ensure that you equip yourself with adequate background information on where the surveyor is starting the valuation process. This will ensure you are well informed besides giving your confidence on the value of your property before presenting it to the market.

What If My Property Down Values?

Property valuation is a focused inspection of property that is created to advise the value of property as well as establish if there is any serious defect or maintenance issues that is likely to affect the value. As such, you will do well to ensure that property valuations are as accurate as possible.

Valuations that are done by surveyors who are registered with RICS are regarded as being more reliable than those that are done by estate agents. This is because these surveyors are bound by a code of practice that they adhere to when carrying out their valuation. In addition, they are more valuable when seeking mortgage financing from credit institutions that cannot take anything less than a RICS valuation.

It is important to understand that when carried out accurately, a valuation can save you thousands in expenditures that are unnecessary as well as help you negotiate for a better deal and avoid properties that are overvalued.

Although rare, there are instances where your property may receive a down valuation. That is, the surveyor advises the lending institution that is not worth what a buyer is offering to purchase it for. Generally, a small down valuation is easier to handle than a large one as it raises questions about the value of the potential home. While a down valuation may initially feel like a disaster for the buyer, it may sometimes be a blessing in disguise. So what then should you do when you are facing a down valuation?

Well, to begin with the buyer will begin to question why they should pay more for a property when an independent surveyor who carries out surveys in the area advises otherwise. On the other hand, you the homeowner is left with the dilemma of having to start the process again in the event that a compromise is not reached. Most importantly, you are left wondering if the next property valuation will not return the same results and if the chain you are on will wait for you to remarket the property. The other issue that you may have to deal with is market confidence. That is, how fast can the estate agent find another buyer?

Generally, a good estate agent should be able to guide you in the even that price reduction is realistic. You may also want to appeal against the valuation especially if you can supply evidence of three recent comparable sold properties. However, this is rarely successful as the client ends up paying less for the property than they had planned to. Thus, it is important to consider the options that you have at your disposal before making an ultimate decision on the price for which you will sell your property.

How Do Ready Steady Sell Differ From Other Quick Sale Companies?

  • No selling fees to pay
  • Free house valuation by RICS
  • No lengthy contracts to sign
  • No last minute price drops
  • Best industry price match guarantee
  • A quick sale in a time that suits you

Independent Reviews - What Customers Say About Us

We Have Been Buying Property In The UK Since 2002
Get A Guaranteed Fast House Sale Today

Sell your house for cash with a guaranteed sale in 7 - 14 days!

freephone now 0800 612 6957

Copyright © 2004-2017 Way Of The Website Limited. All Rights Reserved.
"Ready Steady Sell", "RSS", and "Readysteadysell.co.uk" are trading styles of Way of the Website Limited.

Head Office Address: Office 1, Team Valley Business Centre, Team Valley Trading Estate NE11 0QH | Company Registration No: 10041044
We aim to provide you with access to the best possible solution to selling your home quickly. This often means we must pass your details to a third party to assist with your home sale. You are free to opt out of any marketing we do or our partners do at any time.

Disclaimer: We do not provide any financial advice. Ready Steady Sell works with regulated property brokers whom have the ability to purchase your property for cash. Our service is free and you are under no obligation to accept the quotes you receive from our partner companies. You may be contacted by regulated firms that can help you sell your house quickly.

The Truth about Free House Valuation

Truth About Free House Valuation

Before selling or buying your property it is important that you determine its worth. This is usually the first step in ensuring that you sell, buy or mortgage your property for its worth. Although, property valuation is a professional service that is paid for, you can get a free valuation online as some of the valuators and companies have developed online calculators that let you access the service free of charge.

Benefits of Free Property Valuation

Although free house valuation may not be acceptable in some cases, there are benefits that are associated with it. They include the following:

  • With the free property valuation you can let a house agent sell your property without having to worry about the possible returns as you know its true worth.
  • Most of the free property valuation tools are online based hence are able to do a quick comparisons of similar properties so that you do not have to.
  • You get to know the value of your property for free and without obligation.

Property Pre-valuation Report

Besides the valuation report, it is always important to ensure that you get a property pre-valuation report that gives you an in-depth understanding of your property in relation to the property market. However, the pre-evaluation report is not free as you may be required to pay for it. Having your pre-valuation report gives you an added advantage when meeting your estate agent for your house valuation.

Here are some advantages of having a pre-valuation report:

  • Gives you better understanding of the market conditions within the area where your property is located.
  • You are able to access information that is reserved for property professionals/
  • Its lets you view comparable properties with the view of determining the value of your property.
  • Helps you know who the most active estate agents in your area are.
  • It is ideal for preparing your meeting with the estate agent as you will be able to ask the right questions.

Having information about your property in relation to the property market gives you an advantage as you will be able to follow due process and explore all options ahead of a sale.

5 Factors that affect property valuation

When you set out to sell your property, the first thing you need to do is establish the value. Remember, selling property is a huge decision and you want to get the highest possible valuation. Consequently, every property will require its own assessment to accurately determine its worth on the property market. Besides, the value of property has great influence on the amount for you can sell it for and how fast it can sell as well as how much it can sell.  The following are factors that will affect property valuation:

  • Size of the property – This is mainly in terms of the overall space on which your home sits. The size of individual rooms is also taken into consideration. If you have limited spare space, maximizing what you already have is a good idea. You will do well to declutter to create an illusion of a big space.
  • Age of the property – The age of your property will not automatically lower its value. Nevertheless, the property’s condition will make a lot of difference. An old property that is maintained well can be given a similar or even higher valuation than a new building of the same specifications. It is therefore important to maintain your property well to retain a high value.
  • Type of property – Even though the type of property will not independently determine its valuation, it will certainly play a part. For instance, detached properties will achieve and retain the highest valuations in the property market. However, in urban areas, especially in the cities, a smaller flat can command a higher property valuation compared to a large detached property outside the city.
  • Condition of the property – An estate agent will factor in wear and tear when determining the property value. An older home that shows its age will bring a lower price in the market. The life expectancy and depreciated value of fixtures and fittings will also be factored in. Therefore, if you want to improve the value of your property, a
  • Curb appeal – The exterior of the property is another thing that the property valuer is going to look at. A property where the lawn is mowed and hedges are trimmed will attract a higher valuation. You can paint the exterior walls to give it a brand new look. Shrubs and colourful flowers will also add curb appeal. In addition, do not just concentrate on the front yard because buyers will also want to see the backyard.

Before the property valuer comes to your home, ensure that you have done the necessary repairs. A fresh coat of paint will instantly improve the interior and exterior of your home. Doing the simple things will help your property achieve a higher valuation and it will also help to sell it faster.

Top Tips for a Great Property Valuation

It can be frustrating to have your application for a home loan reduced simply because the valuation of your property is too low. As such, it is common to find investors revaluing their property so as to finance additional investments.

In addition, you can opt to increase the value of your property ahead of a sale to ensure that you get fetch a good amount once you put it up for sale on the property market.

Here are some of the things you can do in order to get a great property valuation:

  • Presentation – This is perhaps the most important thing you need to consider when preparing for a valuation because first impressions count. Buyers are attracted to property that is neat, clean and tidy hence will be more positive about it. Thus, ensure, your clothes are in the right place, there are no dishes in the sink, the lawn is mowed and the edges trimmed. You may also want to consider external painting the whole place.
  • Recent sales evidence – Sharing information about the recent sale prices of properties within your area with the valuer is also a great idea. Remember, these sales will always have an effect on the value that will be arrived at for your property.

You can keep tabs on the sales by attending auctions and getting hold of brochures that you can then share with the valuer. While valuers will carry out independent research, you can even put together a brief report of the recent property sales that you will share with him.

  • Make improvements prior to the valuation – If you intend to make any improvements on your property, ensure you do it before the valuer arrives. This is because while you can simply tell the valuer your plans to fix the bathroom, the value of your property is given based on the state of the property at the time of valuation. If you intend to make some improvements in future and have already obtained costings and quotes, ensure the valuer gives you a complete valuation.
  • Make a list of recent improvements – If there are any recent improvements, you will do well to provide a list of the works and the accompanying cost.
  • Pay attention to the kitchen and bathroom – The state of bathroom and kitchen usually determines how fast your house will sell. Thus, they should be presentable at all times as they have an impact on the valuation.
  • Do not neglect the outdoor living areas – The outdoor area has a significant impact on the value of your property hence must be taken care of well. Ultimately, you need to ensure that your outdoor living area is functional and well presented ahead of a valuation.

Property valuation must be given the importance it deserves by ensuring that you prepare adequately before the surveyor or estate agents comes to your property. This way you will ensure that you attain optimal results for your property ahead of the sale.

How to Prepare your Home for Sale

If you are thinking about selling your property, the best place to begin would be property valuation. However, you will be surprised to know that the valuation of your property must be preceded by adequate preparation.

This is because the status of your property will greatly determine the amount of money that buyers are willing to part with at the end of the sale. Preparation is usually the key to a successful and fast sale of the property. The preparation of property for sale involves many things.

Before you call in an estate agent to do a valuation of your property, you can prepare your property in the following ways:

  • Spruce up the exterior – You will do well to stand outside your house and compare its appeal to that of the other properties in the surrounding. If what you see does not appeal to your sight, chances are that you will not impress potential buyer.

You will also do well to ask your self questions such as; when you last mowed the lawn, cleaned the gutters, painted window frames, paved slabs, keep the toys away, tended the overgrown shrub or uprooted surplus weeds.

  • Get rid of clutter – You need to eliminate any clutter you have accumulated over the years by either throwing them, giving to a charity or finding a proper and neat place for them in your closet. You may want to think of having a garage sale to get rid of all the stuff you do not need.

Overall, whatever you do should be aimed at getting more eyes to look at your property. Some of the items you need to eliminate include knick-knacks and ornaments, potted plants, posters on the walls of the children’s bedroom as well as books, CDs and DVDs. If you are unwilling to let go of your stuff, then you can consider renting storage space albeit temporarily to store any extra furniture that is making the house look crowded. Generally, there should be adequate space for unhindered movement and enough furniture.

  • Depersonalize – Although having your photographs as well as those of your family members on the wall goes a long way in completing the home, you will do well to take them down ahead of the sale.

This gives the prospective buyer an opportunity to visualize himself or herself within that space. You may want to consider applying a thin layer of neutral paint. Remember, buyers are not interested in your personal life but the property where they can imaging leading a lovely life.

  • Spring clean – Ensure that your house is spring clean before putting the property up for a valuation or even sale. In particular, you will do well to pay attention to details such as polishing the windows, dusting skirting boards, lighting fixtures and furniture, vacuum clean, eliminate cobwebs, bleach tile grout and scrub the oven among other things.
  • Revamp, repair and restore – The little things that you pay little attention to could be the reason your property is not selling. Therefore, you need to take a critical look of your home from the viewpoint of a buyer. Most importantly, take into account various elements like leaky taps, broken light bulbs, repair cracks in the walls, fix drawers and doors that have difficulty opening or closing, touch up pain and repaint the house in neutral colours where necessary, get a shower curtain or replace cushion covers, curtains and bedspreads.
  • Control your pets – Being greeted by a charming dog can be a turn off for some prospective property buyers. Thus, you may want to consider keeping the pets away during property valuation.
  • Let there be light – A home that is naturally lit is one of the things that prospective buyers will look out for when buying a home. Therefore, you will do well to ensure that more and more light penetrates into the house. You can complement the natural light with an impression of bright light through other means such as replacing the dim lights with bulbs of higher wattage, pull down the heavy dark curtains, install extra fixture and prune any vines and trees that may be casting shadows in the house.

Preparing your property for sale is crucial as it holds the key to when you will make a sale and at what price. Therefore, you will do well to take the effort and prepare your house.

How Do Ready Steady Sell Differ From Other Quick Sale Companies?

  • No selling fees to pay
  • Free house valuation by RICS
  • No lengthy contracts to sign
  • No last minute price drops
  • Best industry price match guarantee
  • A quick sale in a time that suits you

Independent Reviews - What Customers Say About Us

We Have Been Buying Property In The UK Since 2002
Get A Guaranteed Fast House Sale Today

Sell your house for cash with a guaranteed sale in 7 - 14 days!

freephone now 0800 612 6957

Copyright © 2004-2017 Way Of The Website Limited. All Rights Reserved.
"Ready Steady Sell", "RSS", and "Readysteadysell.co.uk" are trading styles of Way of the Website Limited.

Head Office Address: Office 1, Team Valley Business Centre, Team Valley Trading Estate NE11 0QH | Company Registration No: 10041044
We aim to provide you with access to the best possible solution to selling your home quickly. This often means we must pass your details to a third party to assist with your home sale. You are free to opt out of any marketing we do or our partners do at any time.

Disclaimer: We do not provide any financial advice. Ready Steady Sell works with regulated property brokers whom have the ability to purchase your property for cash. Our service is free and you are under no obligation to accept the quotes you receive from our partner companies. You may be contacted by regulated firms that can help you sell your house quickly.

What Does It Cost To Sell Your Home

What Are The Costs To Sell A House?

If you sell your house with an estate agent, you need to be prepared to pay fees in the region of 3%. But, you also have to remember that this will not be the only cost involved in selling your house. You also need to take into consideration your selling fees, and solicitors costs. These can turn out to be expensive, especially if your selling a property valued under £150,000, as you need to get as much of the equity out of the property as possible.

On top of all of this, estate agents are taking up to 6 months to sell property in the current economic climate. That’s 6 months of paying your mortgage, 6 months of paying the household bills, 6 months of paying insurance. This again all adds up when it comes to selling your home.

If you sell to a house buying company, such as Ready Steady Sell, you don’t need to pay any fees as we pay them for you. You will also not need to pay any valuation or solicitors fees. These are paid for you.

We can also sell in as little as 7 days, so you won’t be paying your monthly mortgage cost! The downside is, if you want to sell fast, you will need to take a discount on the asking price.

But if you add up all of the long term costs, you will see that quite often you will come out with more even after a discount!

Remember to get your free online valuation today, and see what we will pay!

What about selling at auction, is this an option that won't cost a lot?

If you are thinking about selling your house, you may be tempted to sell at auction. Auctions are a great way to sell your property, but on the negative side, chances are you won’t get full asking price for your home. It is likely to sell for much lower, and often way below the valuation.

You should only really consider selling at auction if you have struggled to sell property by other means. For example if it has structural issues, or is in need of a severe renovation.

It may be that you property is rare and highly sought after. Maybe someone famous use to live there, which gives it added value. These types of property also do well at auction and it can attract a lot of publicity.

Similar to ebay, there are things like reserve prices, and ‘buy it now’ prices you can set which help you get the price you are after.

One of the major disadvantages of selling via an auction is the cost. It is one of the single most expensive ways anyone can sell a property. A typical auction house commission is 2.5% as well as VAT.

What’s worse is, if your property fails to sell at auction you will still have to pay an auctioneers fee, typically around £1500 – £2000.

If you think your property would do well at auction, why not go down to an auction house and find out a little bit more.

You could even sit in on a live auction to see exactly what happens.

Remember, don’t raise your hand unless you want to buy!

Should I choose an estate agency based on the lowest fee I can find?

Estate agents are almost indispensable in the process of selling property. This is because they are the link between the buyer and you the seller as they have extensive knowledge of the property market. This means that your need choose the estate agent that you will work with carefully to ensure you do not end up being shortchanged.

In some cases, agents may offer you low agent fees to get you to choose them. While this may seem appealing because of the great savings that you will make, it may not be necessarily the best option.

Thus, you need to shop around for your estate agent carefully comparing the agent fees from one agent to the other against other factors. Among the factors that you will need to take into consideration include the following:

  • Statistics of property sold – You will do well to look at the number of property the agent has sold in your area over the past few months.
  • Consider how often different agents sell property that is similar to yours fast.
  • Check the prices for which the agents sold the property.
  • Finally, think about how happy you are doing business with the agent.

Therefore, as you take into account the estate agent fees that you will be required to pay, you need to have an idea of what you should expect in terms of service. If your primary concern is the fees charged, then you may also want to use an online estate agent as most of them charge a flat rate as opposed to a percentage regardless of the selling price of the property.

If you are satisfied with the fees, reputation as well as the other terms the estate agent is offering, you will then need to ensure that they are captured in the contract. Thus, you will do well to ensure that you read the contract with keenly before signing as it primarily defines your relationship with the agent.

By reading through the contract, you are able to question anything that you are unhappy with or unsure of before it works against your interests. If you do not understand the contract terms, then avoid signing it.

Some of the key things that you need to look out for in the contract include the following:

  • What will happen if you find a buyer on your own?
  • How soon can you get terminate the contract if you are unhappy with the service that you are receiving? (look for a tie-in period that is not more than six weeks)
  • Can you use another estate agent to sell the property while on a different contract with the current agent?

Further advice and reading:

http://www.which.co.uk/money/mortgages-and-property/home-movers/guides/selling-a-house/the-cost-of-selling-a-house

http://www.rightmove.co.uk/cost-of-moving-house.html

https://www.citizensadvice.org.uk/housing/moving-and-improving-your-home/selling-a-home/

How Do Ready Steady Sell Differ From Other Quick Sale Companies?

  • No selling fees to pay
  • Free house valuation by RICS
  • No lengthy contracts to sign
  • No last minute price drops
  • Best industry price match guarantee
  • A quick sale in a time that suits you

Independent Reviews - What Customers Say About Us

We Have Been Buying Property In The UK Since 2002
Get A Guaranteed Fast House Sale Today

Sell your house for cash with a guaranteed sale in 7 - 14 days!

freephone now 0800 612 6957

Copyright © 2004-2017 Way Of The Website Limited. All Rights Reserved.
"Ready Steady Sell", "RSS", and "Readysteadysell.co.uk" are trading styles of Way of the Website Limited.

Head Office Address: Office 1, Team Valley Business Centre, Team Valley Trading Estate NE11 0QH | Company Registration No: 10041044
We aim to provide you with access to the best possible solution to selling your home quickly. This often means we must pass your details to a third party to assist with your home sale. You are free to opt out of any marketing we do or our partners do at any time.

Disclaimer: We do not provide any financial advice. Ready Steady Sell works with regulated property brokers whom have the ability to purchase your property for cash. Our service is free and you are under no obligation to accept the quotes you receive from our partner companies. You may be contacted by regulated firms that can help you sell your house quickly.

Ways to Make Your House Sell Faster

Way To Make Your House Sell Faster

When you make the decision to put your home on the market, you want to get the fastest sale you possibly can. Fortunately there are a number of ways you can increase the odds in your favour. Let’s go through some of them now so you can see how easily you can sell your home fast.

Go for a realistic price

It’s a good idea to request several valuations of your property from different agents. You can then take their estimates and make your property available for sale at a good price that will tempt buyers. Pricing too high can mean your property will sit on the market for months, perhaps even longer.

Go for a good first impression

It doesn’t matter how good the interior looks if the front garden hasn’t been introduced to a lawnmower in years and there are weeds growing in the path. Make sure you give the garden (if you have one) some TLC. A little goes a long way. Clean the front windows and frames too, and give the exterior a fresh coat of paint. None of this costs very much, but the time and money invested could well result in a much faster sale. It can even influence the asking price.

Get rid of your stuff

De-cluttering can make a world of difference. It makes your rooms look bigger and it takes away the impression someone is living there. It also means potential buyers can picture themselves living in your property without having to look at pictures of your kids on the walls. Put everything you can in storage – you might even benefit by removing some items of furniture if you don’t need them. Bookcases and the myriad of books they hold is a great example of this.

Grab some fresh tins of paint in neutral colours

Yes, we’ve heard the neutral colours argument before, haven’t we? But it’s highlighted for a good reason. Bright colours might be ideal for you but calmer more natural colours are better when it comes to selling your property. They make a room look bigger and also more welcoming and relaxing – just the impression you want to give when you’re looking for buyers.

You can see it isn’t as simple as putting your property on the market. However, spending a little time and money making it look and feel at its very best will ensure you get the best price in double quick time.

How Do Ready Steady Sell Differ From Other Quick Sale Companies?

  • No selling fees to pay
  • Free house valuation by RICS
  • No lengthy contracts to sign
  • No last minute price drops
  • Best industry price match guarantee
  • A quick sale in a time that suits you

Independent Reviews - What Customers Say About Us

We Have Been Buying Property In The UK Since 2002
Get A Guaranteed Fast House Sale Today

Sell your house for cash with a guaranteed sale in 7 - 14 days!

freephone now 0800 612 6957

Copyright © 2004-2017 Way Of The Website Limited. All Rights Reserved.
"Ready Steady Sell", "RSS", and "Readysteadysell.co.uk" are trading styles of Way of the Website Limited.

Head Office Address: Office 1, Team Valley Business Centre, Team Valley Trading Estate NE11 0QH | Company Registration No: 10041044
We aim to provide you with access to the best possible solution to selling your home quickly. This often means we must pass your details to a third party to assist with your home sale. You are free to opt out of any marketing we do or our partners do at any time.

Disclaimer: We do not provide any financial advice. Ready Steady Sell works with regulated property brokers whom have the ability to purchase your property for cash. Our service is free and you are under no obligation to accept the quotes you receive from our partner companies. You may be contacted by regulated firms that can help you sell your house quickly.

How Quickly do you need to Sell?

How Quickly Do You Need To Sell?

If you own your own home, the chances are you will want to sell up and move on at some point. There are many reasons why people do this. For example they may find work in another area that requires them to move. They may want to move to be closer to family. Alternatively they may simply want to move to a bigger property to accommodate their growing family. Perhaps just a change of scene is required in some cases.

Regardless of the reason for selling, you need to think about how quickly you would like to move as well. Many people would rather move sooner than later. Once you make up your mind to move, it is understandable that you’d want to get on with it and make a new start. However, the urgency of your move could influence the route you take to sell your home.

Estate agents are generally accepted to be the most obvious way to sell a property. However they are not the only way. Furthermore, it can take some time to sell a property via an estate agent. If you are in a hurry to move this may not be the ideal route for you. It is not unusual for properties to sit on the market for up to 2 years in the current economic climate.

This is why some people decide to use fast sale companies. The idea is simple – the company offers a price for your home and you decide whether or not to accept it. Generally speaking, the faster the sale, the bigger the discount you would take on the sale price. However, if a fast sale is imperative for you, it might be the ideal solution. Clearly you need to weigh up the differences between the services and think about how fast you would like to move. If you have a specific time limit for your moving date, this could be the best way to make sure you are moved out in time to move on, so to speak.

In short, if you want or need to sell your home, make sure you look through all the options before you decide on the route that is best for you. This is the only way to get the best sale price and the sale you want, at a time that is right for you. Moving is always a big task but it can be made easier if you have thought all your options through.

The golden question is probably…how motivated are you to sell?

How Do Ready Steady Sell Differ From Other Quick Sale Companies?

  • No selling fees to pay
  • Free house valuation by RICS
  • No lengthy contracts to sign
  • No last minute price drops
  • Best industry price match guarantee
  • A quick sale in a time that suits you

Independent Reviews - What Customers Say About Us

We Have Been Buying Property In The UK Since 2002
Get A Guaranteed Fast House Sale Today

Sell your house for cash with a guaranteed sale in 7 - 14 days!

freephone now 0800 612 6957

Copyright © 2004-2017 Way Of The Website Limited. All Rights Reserved.
"Ready Steady Sell", "RSS", and "Readysteadysell.co.uk" are trading styles of Way of the Website Limited.

Head Office Address: Office 1, Team Valley Business Centre, Team Valley Trading Estate NE11 0QH | Company Registration No: 10041044
We aim to provide you with access to the best possible solution to selling your home quickly. This often means we must pass your details to a third party to assist with your home sale. You are free to opt out of any marketing we do or our partners do at any time.

Disclaimer: We do not provide any financial advice. Ready Steady Sell works with regulated property brokers whom have the ability to purchase your property for cash. Our service is free and you are under no obligation to accept the quotes you receive from our partner companies. You may be contacted by regulated firms that can help you sell your house quickly.