Are you thinking of selling your property?Whether it's your first or tenth time putting your property on the market, you'll probably have a lot of questions. We asked sales managers from offices across London about the most common questions they get asked by vendors. Of course, only a local expert can fully answer their specific questions about a property or area, but we've picked eight questions we can answer to ensure you're well-informed on all the important issues. We will provide you with the knowledge you need to feel like you are.
1. Is now the time to sell?
This is a question that may be related to specific times of the year or general housing market conditions. Sellers also ask our experts questions about nearby market activity and what they're seeing on a local level regarding other properties we've recently sold.
The answer is that there is no set “right time” because people buy and sell real estate for a variety of reasons. That being said, most sellers are understandably wary of trying to get the most out of what appears to be their biggest asset. At the time of writing (March 2020), generally speaking, the London market appears to be enjoying renewed vigor thanks to increased certainty around Brexit. Prices have increased slightly in many areas and there are more properties on the market than ever before.
When it comes to specific sales times, we see an annual pattern with many buyers looking to complete their purchases in the summer or before Christmas. However, we are seeing sellers instructing us to sell properties throughout the year.
2. How would you rate my home?
Every seller needs to know that they are selling their property for the best possible price. Our evaluation process, conducted by our local experts, thoroughly evaluates a wide range of factors. These include the size, layout, condition, and location of the property. External space attached to the site. Other recently sold properties in the area. floor level (for apartments), and development possibilities (for example, convertible lofts).
Foxtons offers an instant online valuation service that provides sellers with a valuation based solely on local data. This will give you a useful price range that your property falls into, but only a home appraisal by a local professional appraiser will take into account the unique characteristics and value of your property.
3. What is your sales process?
All sellers need to understand the sales process in order to make informed decisions about when and how to sell their property. A detailed guide to the nine main steps of the sales process can be found here. Or see our overview of how to sell a house in London with Foxtons. However, we summarize them below.
The first step is to obtain an accurate valuation for your property from an agent with a strong local presence and skills to ease the selling process. Once you instruct your agent to sell your property, you will also need to instruct your solicitor. We have found Conveyan to be very efficient and would recommend it to our sellers.
Next, you need to get your home ready for the market and open it for viewings. Decluttering will make a room appear larger, while a fresh coat of paint will improve buyers' perception. Your agent should then conduct an accompanying viewing to best showcase your property and quickly secure the right buyer. Your agent can help you evaluate offers and accept the right one.
The next stage is probably the most confusing for many sellers and buyers. It requires good coordination between all parties, their representatives and their lawyers. Essentially, your attorney will prepare the contract to be exchanged, inspect it, exchange it, and set a date for completion. Once the contract is signed and all the money is transferred to the seller's solicitor's account on the closing date, the property is sold.
(Many sellers also ask whether they should put their property on the market before finding somewhere else to live.)
4. How much does it cost to sell my house?
To sell your home, you need to budget for various necessary expenses. These include transport charges, agency fees, EPC (Energy Performance Certificate) costs, and the cost of required moving services.
Foxtons' fees include a wide range of services beyond what other London agents can offer. If you instruct Foxtons as your sole agent (the only agent selling your property), the commission is 3% (2.5% + VAT). If you choose to instruct us together with one or more other agents (“multi-agency”), the fee will be 3.6% (3% + VAT). The current price for EPC is £118.50.
Brokerage fees vary widely depending on the attorney, the value of the property, and the services required. Contact Conveyan for a free personalized quote
5. How do I choose an estate agent when selling my house in the UK?
We can summarize five important attributes that we believe you should always look for in a real estate agent. These are summarized in the diagram below.
6. How will I market my property?
Thanks to our network of local offices and central headquarters with a dedicated support team, we are able to offer our sellers the most comprehensive marketing possible. We proactively call our database of qualified buyers and instantly connect your property with thousands of individuals and businesses.
Your property will be photographed by our dedicated team and published with full floor plans on major property portals including Rightmove, Zoopla and Primelocation, as well as Foxtons, London's most visited estate agency website. It will also be published on co.uk. Targeted Facebook ads, email alerts and 'Sneak Peek' property alerts keep buyers informed, while the My Foxtons app and online dashboard keep you informed and in control. You can. At My Foxtons, we offer complete transparency into all of our marketing activities regarding your property. Click here to learn more about the services we offer.
7. How can I sell my property faster?
There are many things a real estate agent can do to help sell your home faster. First, your listing photos are the first time buyers see your home, so they need to show it in the best light. In order to attract tourists, preparation for the visit by a photographer is essential.
Generally, this involves a lot of cleaning, tidying up, and tidying up, but it's also essential for a successful viewing. Don't forget that this also includes outdoor space, which is becoming increasingly important to buyers. Replacing burnt out light bulbs and making sure your blinds and curtains are closed will make your home appear brighter and larger. Also, a fresh coat of paint can go a long way in breathing new life into a lackluster room. For more ideas, check out our article 7 Tips for Great Photos to Generate More Views. And for additional viewing advice, see our complete guide to selling your property faster in 10 easy steps.
Many sellers ask our agents how long it will take for a property to sell. This question is best answered by a local expert, as this depends not only on market conditions and the nature of the property, but also on local factors.
8. How do I respond to feedback about my facility?
Foxtons sellers can use the My Foxtons app and online dashboard to see real-time feedback from buyers viewing their properties. But what should you do if the feedback is negative? Should you continue to make changes based on this feedback, or should you find a suitable buyer who values your property as is? Should I just wait for it to appear?
The guide for question number 7 (above) indicates the types of changes you can reasonably make in response to buyer feedback. If you want to sell as quickly as possible, it's worth following as many steps as possible as outlined there to give your property the best chance of selling, especially if you've raised any issues that caused the buyer to lose interest. there is.
Still have questions? If you want expert advice on selling your home, request a callback from your local team here.
