Are you selling your central London home? This article outlines five mistakes people make when selling their house.
It's easy enough to make mistakes or be caught out during the process of selling your house, and this is true even if you've previously sold other properties and are familiar with the process.
Selling a property is always fraught with the possibility of mishap. However, if you take the best advice and remain proactive throughout the process, you are less likely to make mistakes and more likely to enjoy a relatively mishap-free house sale.
1) Choose an active local agent with a good record
By 'good record' we mean choose an active agent who has experience of selling your type of property in that area of the market. Almost always look to a local agent, as that agent should know the market well, and this should give you an edge.
2) Don't be unrealistic about the market price
It can be tricky, even if you've got a good estate agent on side, to set the right price for your property. The first thing to recognise, is that your house is only worth what someone is prepared to pay for it. Set the price too high, and you are likely to discourage potential buyers, price it too low, and people might wonder if there is something wrong with the property or if there is a reason they should be wary. In the current central London market the general sentiment is one of caution, so look to be more conservative when setting the price, and with any luck, you may attract a bidding war.
3) Not preparing the property ahead of viewings
A home near Marble Arch or in Knightsbridge will almost sell itself, but don't let this view alter your approach. Always be proactive and do as much as you can to make sure the property sells for the best price. This means preparing the rooms and boosting their appeal. Declutter and depersonalise, and if some of the walls or skirting boards need a little TLC, make sure the work is carried out. Also, fix anything which needs fixing, clean the windows, and generally beautify the property as much as possible in preparation for viewings.
4) Not focusing on the property's best features
Every property has its best features. If you're selling a period property, hone in on its most significant and winning period features, such as an original fireplace. If you're selling a more modern apartment, shout about what makes it unique and desirable.
5) Don't reject an offer straightaway
It's important to consider any offers you receive carefully. Don't dismiss any offer too quickly, however low. Potential buyers will always look to see what they can get away with on the initial offer, so all you need do is negotiate a price you are happy with. If you need to sell quickly and you get an offer from someone who is not in a chain and who, if the offer were accepted, could move quickly, then that is also something to consider. Stand your ground, but don't be too stubborn if potential buyers feel the price is too high.
Selling (or buying) a property will rarely be a breeze, but the best thing you can do is be prepared, be proactive, and surround yourself with a good estate agent and good solicitor, then take heed of this advice.
If you want to sell your central London home, we're the central London estate agents to contact. Call us today.