Looking to Sell?
Why are you selling? Do you want to upgrade to a larger house or downsize to something more manageable or are you moving in with family? Many people feel selling the existing home is the only way forward. But we believe once you have an asset under your belt, maybe you should try to hang on to it. It can help provide an additional monthly income going forward as well as be an asset you can rely on in the future if needed. Speak to Max Mortgages and see what are the feasible options.
However, if selling is the best or only option, then what do you do?
- Get your property appraised by local agents who know the area. This is important as this can be reassuring to potential buyers and the agent may already have an extensive buyer database
- Appoint a Selling agent. Now, if you were a buyer, would you pay what the property is worth or what the selling agent wants? Hopefully the anwser is what it is worth! But for some reason when many people become vendors, common sense goes out the window and often the agent appointed is the one who presents the highest amount. Seasoned vendors who think they have market awareness still regularly fall for this simple tactic
- Market the property at a realistic price. If the market price is too high, the property will just sit there and became saturated. If you then reduce the price, buyers may still be wary as they may feel either there is an issue with the property or you are not a serious vendor, and thus you may end up selling for a much lower price than you would have otherwise. If the marketing price is slightly lower than the market value, then there is a good chance you will create good interest in the property which may result in offers on the table which are more than acceptable
- Prepare to accept reasonable offers. There will be some negotiation, but be prepared to compromise a little bit. This again is where a good agent will be able get a better price for you by being able to address any concerns the buyer may have. Remember a good offer from a genuine buyer who is capable of completing the transaction may be better than the highest unqualified offer
- In fact buyers often have the best idea of what the property is worth. As many buyers will have seen many properties, they get to know the market. Its like buying a car. Even if you know nothing about the car before you start the search, but by the time you have looked online and visited a few garages, you will have a very good idea as well as comparables of what else is out there and for how much. Genuine buyers will offer you a reasonable amount for your property. Just don’t scare them off by being ill-advised at the marketing stage
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