| As the news stories about the woes of the | | | | of your property that are going to attract buyers |
| property markets continue to pile up in the media, | | | | and make it stand out from all of the other |
| more people are tempted to put their homes on | | | | properties of the same type they will have |
| the market in the present climate to see if they | | | | viewed already. If you have a huge kitchen, make |
| are able to sell 'at the top of the curve' and take | | | | sure it is clean and tidy but that people can see |
| advantage of the capital gains they have made in | | | | you enjoy spending time in there, if the garden is |
| the past years of the property bubble. | | | | 30 yards longer then the neighbouring properties, |
| While experts disagree over the size of the | | | | make sure it is tidy, the lawn mowed and some |
| market 'correction', or the length of any downturn | | | | colour and life are evident. You may even want |
| in the market that is likely to take place over the | | | | to demonstrate the its lifestyle possibilities by |
| next few months or even years, there is little | | | | putting out garden furniture to show how it can |
| doubt that more people will be in a position where | | | | be used. |
| they feel under pressure to sell their property as | | | | A recent survey also suggested that spending a |
| quickly as they can. The danger is that in putting | | | | small amount of money on refurbishing and |
| your property up for sale you will be tempted | | | | remodeling parts of your property can not only |
| into taking a much lower offer than you should, | | | | get you back almost the same amount of money |
| as well as the stress of dealing with demanding | | | | as the investment you put in, but will also help to |
| buyers. | | | | make the property stand out to buyers. Purely on |
| On the other hand, being unrealistic about the | | | | a monetary basis, it is said that a minor |
| value of your property, the motivation of your | | | | remodeling of the main bathroom in a property is |
| potential buyers, and the market conditions could | | | | the best way to spend on the interior of a |
| lead to being stuck in a situation with a property | | | | property, with up to 100 per cent of the |
| that has been extensively marketed and still does | | | | investment being made back on the property sale. |
| not sell, despite discounts to the price. | | | | Making your property ready for viewings is also |
| Some of the situations you may encounter over | | | | important. Some say that brewing fresh coffee |
| this period of toughening market conditions are | | | | or baking bread in the kitchen is the best way of |
| explored here, along with some possible strategies | | | | making an impression on people viewing the |
| to help you sell your property at the right time | | | | property, but nothing will stick in their minds more |
| and for the right value. | | | | than a well-presented, well cared-for home. The |
| Be Objective - This is particularly important when | | | | much-vaunted 'kerb appeal' factor is very |
| you are selling your own home, rather than any | | | | important in creating the right first impression and |
| kind of investment property, but it is vitally | | | | setting the tone of the viewing. Pets and clutter |
| important that you are realistic and able to take | | | | should both be banished for the duration of the |
| the fact that agents or buyers may suggest you | | | | viewing, and if possible and necessary, you may |
| sell your property for less than you think it is | | | | want to send the children and partner to the park |
| worth. | | | | for an hour while people are viewing the property. |
| This does not mean that you should just give in | | | | What you really want to create in a competitive |
| without a fight to the first offer that comes | | | | market like we have at the present time is a |
| along, when you are convinced that the property | | | | lasting impression on potential buyers. If you can |
| is worth far more, but make sure your position is | | | | let each of your viewings leave with a sense that |
| backed up with solid facts. In market conditions as | | | | they want to be in your property, and can see |
| they are at present, research in the local area is | | | | themselves happy there, you have won half of |
| even more important, and can be the key to | | | | the battle and will have a better chance of |
| making your sale successful. Check estate agents' | | | | sticking in their minds. |
| windows regularly to see what at price similar | | | | Think differently - Don't be afraid to do something |
| properties are on the market, as well as how | | | | a little different in marketing your property to the |
| quickly they move. | | | | buyers that are out there. Remember that there |
| Also, try to compare your property to other | | | | are always people who are looking to buy |
| similar ones for sale in the same area, and be as | | | | property, even if there aren't as many as there |
| objective as you can. Essentially, these similar | | | | were, or as many as you might want to see. In |
| properties are your competition for buyers, and | | | | fact, many buy-to-let investors are looking to |
| you need to know where your property stands in | | | | expand their property portfolios now as they see |
| relation to them. Think about things like proximity | | | | it as a perfect time to buy the properties they |
| to schools, shops and leisure facilities on the | | | | want, as well as a time when there will be more |
| positive side, and main roads, traffic black spots | | | | people who have to rent instead of buying |
| and industry on the negative. | | | | themselves and getting on the property ladder. |
| Knowing all of this, and listing where your | | | | Some sellers will see this as the right time to look |
| property is stronger than most of the other | | | | into selling their property on their own, and not |
| similar properties on the market at the time, will | | | | using an estate agent. Certainly the fees that will |
| allow you to price your property effectively and | | | | be saved on any purchase are a welcome bonus, |
| realistically, as well as helping in its marketing. The | | | | and perhaps that will allow you to be a little more |
| knowledge that your property has the best | | | | flexible on your pricing than someone who also |
| gardens of the type, or has an extension as a | | | | has to pay their agent a commission at the end. |
| utility room should allow you to bring out the | | | | Selling without an agent is not something that |
| advantages in the details as supplied by the agent, | | | | should be tackled without careful thought and |
| as well as helping you to sell the property when | | | | preparation however, as doing things wrong will |
| you are conducting viewings. | | | | waste time and money, and will ultimately make it |
| Aggressive buyers and tactics - One of the | | | | difficult to sell the property later through an agent |
| biggest problems with selling with the current | | | | if the independent route fails. Many agents will be |
| turbulent market conditions is that buyers will feel | | | | reluctant to take on a property that has been on |
| they are in a true 'buyer's market'. This means | | | | the market independently in the recent past, as |
| they will feel emboldened by the prospect of | | | | they will feel that it has been overexposed to the |
| being more sought-after than the property they | | | | market, and their chances of success are |
| are considering buying. Given this fact, buyers are | | | | therefore diminished. |
| taking up some practices that have not been | | | | Even if you are using a real estate agent to sell, |
| seen by vendors for a few years - some of | | | | you can still get creative with your own marketing |
| which are just a shift in the landscape and | | | | strategy. There are some wild and interesting |
| relationship between buyer and seller, other which | | | | ideas of how you can bring attention to your |
| are a degree more unsavoury or even immoral. | | | | property sale, from having bumper stickers made |
| One of the biggest differences that sellers will | | | | up and taking out advertisements in local papers |
| notice in the current climate is the time factor. | | | | on your own. One of the more targeted |
| Buyers are now far less likely to be rushed into | | | | approaches works very well if your property is in |
| making an offer, or improving an existing offer as | | | | the catchment area of a well-regarded school. |
| they will have the impression that you need them | | | | Some sellers have been known to hand out flyers |
| more than they need you. While this can be true, | | | | at the time when parents are arriving to collect |
| it pays to be prepared to wait for offers and | | | | their children, as they often know someone who |
| responses to come in. | | | | wants to move to the area. |
| Of course, this is a legitimate buying tactic in the | | | | If your property is particularly attractive and |
| same way that in a rising market sellers are able | | | | stands out from the crowd, you may want to |
| to make buyers wait for their responses to try | | | | consider holding an open house for potential |
| to make sure they would be prepared to move | | | | buyers to come along. This is a particularly good |
| their offer upwards. Buyers will feel that by | | | | idea for desirable properties - it brings in |
| holding out on making their first or follow-up offer, | | | | interested parties to have a more leisurely look |
| they are sowing the seeds to make sure that | | | | around the property and even to take a little |
| you are 'softened-up' for a lower offer than | | | | more time to discuss finer points with you |
| would otherwise be normal. | | | | personally, and if you are lucky it will also mean |
| Be aware in this situation of the research you | | | | that they will see other interested potential |
| have done on the right price for your property, | | | | buyers arriving to look around and spur them into |
| and be prepared to stick to your guns - but not | | | | making a good offer. |
| too much. While it is quite fair to ask for a fair | | | | Don't panic! - Despite some of the media stories |
| price in negotiation, if you are completely inflexible | | | | to the contrary, there are still properties that are |
| in the money stakes, you will scare off legitimate | | | | being bought and sold across the country, so |
| and fair buyers. | | | | there are buyers out there. They may not have |
| Once you have accepted an offer for the | | | | the huge and easily-accessible finance options that |
| property, there are other things that buyers may | | | | were available a year ago, and they may not be |
| now feel emboldened to do given the market | | | | as willing to enter into a bidding war to get your |
| conditions. For one thing, the agreements for | | | | property, but they are still out there. A |
| fittings and fixtures may go on longer and be | | | | well-presented, loved, realistically-priced property |
| more intense that you might expect. Again, | | | | will sell, as there will be a buyer out there who |
| buyers will feel that they are in a stronger position | | | | wants it. |
| to demand that some of the items you would | | | | Try to be patient in waiting for viewings, offers |
| have taken with you remain in place or are | | | | and negotiations - not only will you find it stressful; |
| prepared to pay less than you want for them. | | | | you will also transmit a kind of desperation to the |
| In this situation you would be well-advised to try | | | | buyer that they can use to drive your price down. |
| to keep the two issues separate, while the buyer | | | | It is also a good idea to have a set of limits and a |
| may be keen to suggest that unless you move | | | | back-up plan if the market turns out not to want |
| on the fixtures and fittings the whole deal could | | | | to buy your property in the timeframe you have |
| fall apart. If they continue to be stubborn on this | | | | in mind. Set a lower limit for offers that you will |
| point, and you feel that they are close to pulling | | | | accept, a time limit that you want to lave the |
| out of the sale, there may come a time to make | | | | property on the market. Should a sale not |
| a difficult choice. If you give in to their demands, | | | | happen, or the price you are offered is too low, |
| can you be sure that this is the only issue on | | | | consider updating and improving the property you |
| which they will be aggressive, or will it be a signal | | | | already have - either for you to continue to |
| to them that they can push you into a corner in | | | | enjoy, or for a fresh assault on the market. |
| any of the negotiations? Would you prefer to | | | | If you need to sell quickly - Should you get to the |
| keep this sale, no matter how much you have to | | | | point where you need to sell your property |
| smile through gritted teeth, or are you confident | | | | quickly, there are a couple of options that should |
| in finding a buyer? There is no blanket answer to | | | | at least allow you to escape from a sticky |
| this, and each situation can only be judged upon | | | | financial situation. Sometimes these options are |
| your feelings at the time. | | | | looked down on by many in the industry, and |
| One of the more worrying trends in recent | | | | while they do offer opportunities to those |
| weeks has been the idea of buyers gazundering | | | | involved to make money from buying your |
| sellers. Gazundering is a process by which buyers | | | | property cheaply, they can offer sellers a way |
| agree a sale price and put the wheels of the sale | | | | out and still give them some equity to play with. |
| in motion, only to demand a hefty discount on the | | | | Auctioning property in the UK has not really taken |
| property price at a very late stage, often just | | | | off significantly, despite numerous efforts to |
| days before completion. The discount demands | | | | promote it as a good way to buy property. |
| can be anything up to 20 per cent off the agreed | | | | Some properties are auctioned, and it is often |
| price, and sellers are left with the option of either | | | | repossessed or probate properties that make up |
| giving in to the demands of their buyers or risking | | | | the lots. This can be a good way to make sure |
| losing their sale, the house they want to buy and | | | | that you achieve a reasonable sale, so long as |
| causing the rest of the chain to collapse. | | | | you don't put an unrealistic reserve price and are |
| Some websites are deliberately promoting | | | | prepared to accept a slightly below market value |
| gazundering as a legitimate bargaining tool in the | | | | price. If you are lucky enough to have two or |
| house buying process, and even go so far as to | | | | more bidders who are keen to get hold of your |
| say buyers should have offers accepted on three | | | | property you may get a higher price than you |
| different properties to maximize the chances of | | | | imagine. |
| one of their gazundering attempts being | | | | Another option is to go to one of the quick sale |
| successful. Most people will see this as a | | | | companies in the UK market, who offer a range |
| morally-questionable way of entering into a sale, | | | | on service to allow you to sell your home quickly |
| but be aware that there may be some people | | | | and get your money out in a short space of time. |
| out there who are willing to try it. | | | | Backed by the fact that they have cash |
| Make the most of what you have - Many of the | | | | reserves, these companies are able to offer cash |
| properties that are coming on to the market at | | | | within days to most sellers. They make their |
| the moment are quite similar - in some areas | | | | money from buying properties below the true |
| there are so many two-bedroom apartments for | | | | market value, but that is the price you pay for |
| sale at the moment that sellers are dropping their | | | | being able to get your hands on a significant |
| prices by up to £100,000 (approx | | | | amount of capital in a short space of time. For |
| $200,000) in order to attract attention from a | | | | people who are in more dire financial straits, these |
| smaller pool of potential buyers than has been | | | | companies also offer 'sale and rent back' schemes |
| seen for some years. | | | | to allow them to get their capital out of the |
| In this situation, the best thing you can do is to | | | | property and still have their home to live in. |
| make sure that you have maximized the features | | | | |