The preparation you put into getting your property
ready for sale can be the difference between getting
a standard price and getting a great price. And,
the best part is, it's not hard, time consuming
or expensive. The process, or indeed art, of presenting
your property for sale is an important one. For
most, the sale of a property comes around every
5-7 years. For others it has become a more regular
event, choosing to capitalise on the opportunity
of upgrading the family home and make substantial
tax free gains in the process. Whatever your motive
for selling, the process can either be stress
free and lucrative or tense and disappointing.
The good news is that you have the ability to
choose.
Buyers for good quality property can be found
all year round. With the marketing process having
become far more sophisticated than in previous
times, the issue of timing is less critical today
than in the past. However, there are some important
points you may wish to consider. If your property
is located along the sea-front or in one of the
sea-front Squares, such as Sussex Square, Brunswick
Square or Adelaide Crescent then our research
does indicate that the Spring and Summer months
will produce superior results, however, wherever
your property is situated it is suggested that
you avoid the Christmas Holiday period between
15 December and 5 January. The time required to
sell property that is accurately priced will typically
vary between two and six weeks. Prior to placing
your property on the market, allow an additional
few days to prepare both the property and the
marketing material.
Presentation of your property is a critical factor
in achieving the highest possible price. This
is similar to detailing a car before you sell
it. The emotional appeal required to stir the
spirit of the buyers is unlikely to be generated
by a poorly presented property. And a neglected
building could send out 'warning signals' to prospective
buyers. So it is important to do whatever is possible
to have your property looking its absolute best.
Some of the turnoffs for buyers include:
- Too much furniture or personal belongings
cluttering the space
- Evidence of damp or moisture in the walls
- Stained carpets
- Cracked glass
- Cigarette or strong food odours
- Animal odours in the house
- Doors, windows or gates that stick or are
broken
To improve the presentation, seek an outside
opinion, as many of these problems can be fixed
over a weekend for little expense. We believe
the process is so important that we will soon
be offering our clients the services of a Property
Stylist to help in preparing the property. For
vacant properties, we would also recommend the
use of decorator furniture for the period of the
sale. Advice on the best type of furniture will
also be offered by our stylist.
When it comes to selling your property, there
are three popular methods to choose from; Private
Treaty, Public Auction and Public Tender. Each
has its own advantages and it is advisable to
speak to your agent about the benefits of each
method. The most common and usual way to sell
is by Private Treaty, however we have found sale
by Public Auction can be the effective method
for properties in the event of there being difficulty
in clearly determining the value whereby a value
range may be more practical. Also, where a property
is very unusual, requires significant refurbishment,
structural problems, not suitable for a mortgage
or has a defective title then auction is a good
way of creating vast interest and allows competitive
bidding to increase the final sale price. In the
event that you choose to submit your property
for sale by auction, research the success of each
company's auctioneers, as a skilled auctioneer
can add significantly to your end result. Most
auction marketing periods run for about four weeks.
Contact us for further advice.
1. Get the property detailed thoroughly
2. A few hundred pounds spent sprucing
up the property will increase the saleability
and more than likely increase the sale price.
3. A property stylist can improve the
appeal of your property by enhancing its appearance.
This helps in obtaining a higher sale price.
4. Obtain a building and pest inspection
report; this allows you to have necessary repair
work done prior to sale. A 100% clear report can
be used as a selling feature for buyers.
5. The Contract for Sale should be prepared
by your solicitor or your conveyancer with all
the essential terms and conditions.
6. A certificate of compliance should
be obtained from the Local Council if you have
recently undertaken major building works.
7. It is advisable to have a survey of
the land and buildings available if required when
selling a property.
8. If there is a current lease, check
the expiry date and termination requirements and
advise your solicitor.
9. Make a note of all the inclusions.
That is, everything that will be included in the
purchase price and remaining at the property after
completion. Standard items include light fittings,
floor coverings, curtains and blinds. These can
also be excluded if you prefer but it should be
noted in the contract for sale.