ADVISORY NOTES

VALUATION

Valuation: How do you put a value on your property? If you price it too high you might not be able to sell it quickly. If you go too low on price then you could be giving away hundreds, possibly thousands of pounds. You have probably got a rough idea of what its worth by what other houses in your area sell for.

Why not go and see those other houses? Send for agents details. Compare the facilities on offer with yours. Most agents offer a free valuation service so why not take up their offer and request a valuation of your property. Better still ask two local agents for a valuation. If this approach pricks your conscience you can tell the agents if you don’t use their service you will send them £25 for their trouble (still cheap at the price). Obviously don’t tell them you intend to sell the house yourself When you have a fair idea of what your property is worth, you then have to decide how much to price yours at. Nowadays everyone thinks you have upped the price anyway and will offer you less than the asking price. Please bear this in mind when pricing, or you can state the price you will sell at and indicate on particulars ”No Offers”.

PREPARATION

Is your house ready to go on sale? Can you make not too costly improvements to enhance its appearance? Is the garden tidy? Would a lick of paint improve certain features?

WHATS INCLUDED IN YOUR PRICE

Decide what fixtures and fittings you are willing to leave and include in the sale of your property. Although it might be prudent not to include any items whatsoever to start with in the sale price. This will enable you later to get a bit extra for carpets and curtains or if you are being squeezed on the price of the house you can then include certain items.

PRINTED DETAILS

If you are having printed details prepared then list any items you are including in the price of the house and state that only items listed are included in the house sale price. All other items are excluded. If you have particulars printed, first of all send for or collect a few from your local estate agent to see how they are laid out. You will observe that the details given are quite brief and to the point. You must by law state the truth in your particulars and don’t glorify some aspects that the purchaser can sue you for later. State the facts. If the house was rewired ‘about’ 20 years ago, state approximately 20 years ago. Size of the garden is approximately 30 metres x 25 metres etc. Always print on particulars, all offers subject to contract, and that details are as truthful as possible but not guaranteed to be accurate.

THE BUYER

Nowadays most potential purchasers will have access to a bank or building society who will lend them the money to purchase. However you don’t want to discover that they are hoping for a 95% mortgage and the husband has only just started a new job or is currently unemployed. Its no use having a lovely couple who wish to buy your house who haven’t got a chance of getting a mortgage. Questions to ask: Have they a house for sale at present, or are they a cash purchaser, so they must have sold their house. Where are they living now or how much deposit have they got. Will they have problems selling their property. If they appear reluctant to tell you these things (after they have indicated that they would like to buy your house of course) then do not deal with them. Remember the estate agent if he was dealing with them would ask them the same questions. You need to feel confident that they are a serious purchaser with the financial ability to be able to complete the purchase.

Once you have found your purchaser you must get them involved with expenses as soon as possible. Therefore they must instruct solicitors ASAP, and get a survey done by their lenders. You know when this happens that their intentions are serious. Meanwhile don’t assume that your house is sold. It could fall through for a variety of reasons. Therefore show other people around your house, explain that it may be sold already but if they would like you to contact them should it fall through, then you will do so. Obviously take their name, telephone number etc. If offered, do not take any cash deposits from potential purchasers, leave that to solicitors to deal with.

SAFETY

When receiving replies to your advertisement always get their home, business and mobile telephone number and their address. Ask them when would they like view. Tell them you will ring them back to confirm the appointment. This will ensure the telephone number given to you is their own number. Do not show anyone around your house by yourself, always have a 2nd person in attendance. Do not let potential purchasers wander around by themselves. Accompany them throughout the visit. Do not show them where your floor or wall safe is, that can come later. Where possible remove all loose valuables from sight. Do not usually show anyone around your house who turns up at the door because ‘he’s seen your board’, ask for his address and telephone number if he’s genuinely interested in your house he’ll wait. If you decide that you will take a chance and show him around make sure you have the 2nd person with you, get the visitors car registration number if possible. If you are by yourself we strongly recommend you give no access to your house without a prior appointment.