June was a record breaking month for exchanges at Michael Graham, reflecting the buoyancy that continues to define the post-pandemic housing market in the UK. If your home is on the market already or you are wondering whether the time is right to sell your property now, following this advice will put you in the best position to take full advantage of this year’s summer sales bonanza:
Written by Wesley Muchimwe | 16th July 2021
How to sell your home this Summer
Actively look for a property to move into
As the seller you are in a powerful position. There are far more potential buyers than there are homes available, a situation we haven’t been in since mid-2002. If you are ready to sell, immediately start looking for a property to buy or to rent. If you fail to find anywhere to move into then you may be forced to let your buyer go.
Keep it real
The housing market is hot and now is the time to sell your property at a premium, but don’t be tempted to list your home at an overly high price. Right now in the prime country market a realistic guide price can often result in competitive bidding where this baseline price is then exceeded. Also consider the quality of your potential buyer and whether they are in a realistic position to proceed with the purchase. Beware of only focusing on who is offering to pay the highest price.
Get your ducks in a row early
The usual sticking point in the sales process is conveyancing, so appoint a lawyer as soon as you list your property for sale. Have your home “contract ready” with searches and all paperwork done when you go to market. It can cut completion times from six to three months.
Make sure buyers are qualified
Once you accept an offer on your property, most buyers will ask for all marketing and further viewings to stop. That is all very well as long as the buyer is in a position to progress with their purchase. Make sure that your estate agent has made it crystal clear that if a survey hasn’t been booked or a solicitor instructed within an agreed time frame, usually two to four weeks, your property will be re-listed on to the market.
Spruce up your garden
We are all looking forward to the end of restrictions and the ability to socialise indoors again with no limits, but buyers are still focused on outside space and are willing to pay more for a well-maintained garden. A trip to the garden centre for some colourful plants and planters and an hour or two power washing the terrace will be time and money well spent.
Clarify plans for fixtures and fittings
Misunderstandings over fixtures and fittings often cause deals to fall apart. You may think it’s obvious that you’ll be keeping your red Smeg fridge freezer with ice dispenser but the buyer may be convinced it comes as part of the kitchen they fell in love with. When negotiating the offer, be very clear about what you are leaving behind and what will be loaded on to the van on removal day.
Advice to buyers
In this extraordinary market, bricks and mortar bargains are few and far between. With any property that you view, be realistic about the selling price. Going in with a low offer could very well alienate you from the seller who is likely to have plenty more potential buyers booked to come in through the door ready to make a serious offer. When you fall in love with a property don’t let it get away. Make a sensible offer and have documents ready to prove that you have funds available to seal the deal.
We’re prepared for another busy summer here at Michael Graham and whether you’re buying, selling or renting, we would love to help you put your moving plans into action. You can book a valuation of your home here, or contact one of our local Michael Graham offices where one of our friendly team will be delighted to offer their no obligation help and advice.