With family homes soaring in price on the market, many first-time buyers and young families are being pushed out in favour of comparatively wealthier buy-to-let landlords, report The Guardian. As a result, many current homeowners are reluctant to sell, preferring to add renovations and extensions to adapt their home to changing needs. Of course, some sellers will always be put off by the stress, delay, and extra expense incurred by changing hands or property disputes.
So, what are the best ways to sell your home in today’s tough property market?
Avoid Estate Agent Fees
Thanks to changes in legislation in 2013, many homeowners are able to avoid costly estate agency fees, with many opting instead for a ‘DIY Sell’. The BBC write that a DIY sell online costs around £600 in fees to advertise your property, this includes making a DIY ‘for sale’ sign, reporting energy efficiency ratings, and taking photos. This is a huge contrast compared with the average estate agent fee, who will take a 3-5% cut of commission from the final price as well. Of course, it really pays to ensure you have good marketing and negotiation skills, so you can avoid missing the best price.
Get Professional Help
Even without using an estate agent, you still need to get a valuation and deal with legal fees. Find an insured member of the Royal Institute of Chartered Surveyors, preferably who specialises in your local area and house type to do an accurate valuation of your property, especially if extra repairs are needed – these costs range from £500 to £1000+, but mean you’re safe legally. To reduce legal costs on a sale, you can try an online conveyancing service. The Home Owners’ Alliance advise that these are generally efficient, providing 24/7 access for you to keep track of your case.
Use a Speedy Service
Of course, depending on your situation, the time it takes to either contact an estate agent or conduct a DIY sale might not be available. In sad situations such as the end of a marriage, or even the trouble of inheriting a property you didn’t expect, it can be difficult to know what to do and who to trust. Fortunately, speedy home buying services exist which help to fast track cases and significantly reduce the duration of a property sale – be sure to get a transparent quote so you don’t lose out on too much of the property’s value.