How to get the best price for your house this autumn
When it comes to the property selling market, it has traditionally been the case that it tends to be considerably less busy over the summer months. However, as we approach nearer the end of the warmer season, it is now the best time as a seller to get your property prepared for being sold as we approach the commonly popular time to sell a house: autumn. But what can you do to ensure that despite current economic uncertainty, your house still manages to be sold at a decent price? For example, according to property experts Rightmove, overall asking prices in August this year had dropped by 2.3%, with the biggest decreases in price being in the South East of England and London. Keeping these statistics in mind, we give you the very latest news on everything you need to know about selling a property this autumn.
Concerned now isn’t the time to sell?
The previous statistics provided by Rightmove may have you concerned that your wish to sell a house this autumn might end up being scuppered, however, there is no need to be alarmed. Take into consideration the fact that transaction levels have remained steady throughout the summer months in the UK this year (HMRC recorded a transaction level of drop at just 0.8% between the months of June and July) taking into account the fact it has also been a record-breaking year for summer sunshine. The reason this matter is that typically over the summer, transaction levels drop and then increase once more as the temperature falls. In fact, according to the HMRC, in 2017 the most popular months for sales was September, October and November, as people return from their summer holidays and go back to work. Consequently, putting your house on the market during this time is one of the best things you can do if you want to get your house sold.
The time it takes to sell a home
When it comes to prospective buyers, and it is common for them to be particularly eager to speedily complete on new property purchases once autumn begins, as a way of getting in on purchases prior to the festive season starts. What this means in reality in terms of the time it takes to sell your home, is an estimated eight weeks to receive an offer, then once the offer has been accepted you can expect that the completion of the sale will take a further 12-14 weeks.
Getting the best price for your home this autumn
As it stands, the summer month’s decreased transaction levels weigh in favour of the buyer as opposed to the seller. Nevertheless, there are a variety of ways in which it is possible for you to increase the likelihood of selling your home for the best price. We take a further look.
Carefully select your agent
Don’t make the mistake of picking the very first agent you come across. Not all are the same, and some will have a much better chance (based on their experience) of selling your home at its optimal price. As a rule of thumb, we recommend that you speak to at least three local estate agents (based upon having read reviews and recommendations by friends or family members) prior to deciding which one you will select to help you sell your property.
It is also worth checking out online agents too, not just those on the high-street. There are a number of different advantages to using the former (such as they’re tending to be significantly fewer fees, for example). So you should carefully weigh up as to whether this is the right option for you.
Avoid excessive alterations
You should always keep in mind when it comes to selling your home that it is offputting for the majority of buyers to find a property that they have difficulty considering as a blank canvas. Consequently, now is not the time, in an increasingly competitive market, to make unnecessary alterations to your home when you are considering putting it up for sale. Remember to keep it simple, and keep the space light and tidy.
Select the right buyer
Always remember to treat your buyer seriously, especially in a housing market when it is becoming ever more popular for buyers to figure out ways to knock down the property’s value in order to obtain a better deal. This means paying extra attention to them and their needs. You should be making sure you know where exactly your buyers stand in their chain, as well as if they already have a mortgage arranged, or have arranged to get bridging finance. In the event that you have more than one buyer vying for the property, ask plenty of questions so you can make an informed decision as to which one has a greater chance of staying the course through to completion.
Make sure your paperwork is sorted
If you know you are going to put your house up for sale this autumn, sort out all the relevant paperwork ahead of time. For example, make sure that you have an up to date energy performance certificate read for your property, and as you are more than likely to also be moving onto a new home too, ensure that there aren’t any underlying financial problems on your side of things that could prevent the property sale going through or being delayed this autumn, which could end up becoming extremely expensive to rectify at a later date.