What's happening this month?

What to do if your home isn’t selling

 

There can be any number of reasons to explain why your property isn't performing on the market as you had expected.

 

If it's left you wondering ‘what went wrong?’, we delve into some of the most common causes that could be preventing buyers from connecting with your home.

 

Your home lacks kerb appeal

 

The outside of your home is the first thing potential buyers see when they turn up for a viewing. 

 

So, there’s no surprise that it can have a huge effect on a buyer’s decision to put in an offer. More than 68% of homeowners say kerb appeal was important in their choice of home.

 

The property isn't viewer-ready

 

It’s important when selling to keep your home looking viewer-ready, as well as to aim for a more neutral tone that appeals to a wider audience base.

 

Whilst it can be tempting to start splurging on new furniture and items for your new house, it can also have a negative impact on viewers if the room looks too crowded and cluttered.

 

The photos don’t do it justice

 

It takes just six photos for someone to decide whether they're interested in seeing more of a property.

 

If the first six photos don't represent your home in the best light, you could be missing out on the opportunity to showcase your property's core unique selling points, so it's worth raising any concerns that you have with your agent as well as making sure that you stage each room beforehand.

 

The asking price could be wrong

 

It's a common misconception that the asking price is behind every single stalled property sale. However, it's important to know where this is and isn't the reason for a home struggling on the market.

 

Having a competitive valuation with a local agent ensures that you are correctly priced and helps you to avoid any delays or complications.

 

Want a second opinion on the price of your property? Our team of experienced estate agents can provide you with a reliable free valuation, visit our website for more information.

 

The estate agent isn’t the right fit for you

 

Your estate agent should be doing all they can to sell your home, including keeping you updated and aware of the progress of your sale.

 

If you’re not happy with the service you’re being given, make sure you bring it up.

 

So, what are my options?

 

If your home isn’t selling, don’t despair. You still have a few options that will enable you to get moving.

 

Contact our team today to learn more about our offering and success metrics in your area.

 

 

 

Key questions you need to ask your buyer

 

Finding the right buyer can save you time, energy and disappointment.

 

If your chain falls through due to your buyer's financial readiness or uncertainties, you may lose out on other offers as well as the property you had intended to purchase.

 

Here are the top five questions you need to ask before accepting an offer.

 

Have they been pre-approved for a mortgage?

 

Being pre-approved for a mortgage means that a lender has already said their application will be accepted, speeding up the process significantly and reducing the risk of it falling through.

 

Do they have a home to sell?

 

Understanding your house buying chain is really valuable, as you'll be able to anticipate any weak points that could lead to your sale and / or purchase from falling through.

 

More sellers are now opting to rent in between their sale and new home, which means that the chain is much smaller and less likely to break.

 

Have they made an offer on another house?

 

If the buyer has put down a deposit on another property, they might not be fully committed to that purchase.

 

Are they a first-time buyer?

 

First-time buyers are often chain-free, so the process of selling your home should be quicker.

 

However, be careful not to make assumptions.

 

There may be other commitments such as a fixed term tenancy that prevents them from moving quickly, so always check when your buyer wants to complete.

 

What is their moving timeline?

 

Remember to ask what their moving timeline is like, as this will tell you how much they must do before they can move.

 

If their timeline fits in with yours, then they’re probably a suitable buyer for your property.

 

 

Need help finding the perfect buyer? Get in touch with us today.

 

 

 

Post-pandemic predictions for the property market

 

After 18 months of uncertainty, the UK property market has seen some incredible highs and lows, from the sector closing and reopening last spring, to the impact of the stamp duty holiday on residential transaction levels.

 

For those looking to buy or sell in 2021, here are the top projections on what will continue to shape activity levels in the coming months.

 

House prices at a record high

 

Initially propelled by the stamp duty holiday, house prices have risen by 10.2% in the year to March 2021, with vaccine optimism now fuelling high demand levels.*

 

With a tapered end this September, homeowners can still save £2,500 on the first £250,000 of a property due to the stamp duty holiday, meaning that sales will continue to push up prices this summer.

 

If you haven't had a recent valuation of your home, talk to us today to gauge its current value.

 

The long-awaited return of overseas property investors

 

Travel has been made all-but-impossible for most travellers.

 

However, with vaccine programs being rolled out in other countries as well as the UK, we should soon see the return of overseas buyers looking for their next investment opportunities.

 

This will be key to help the market fully recover from the events of 2020, particularly for the construction sector.

 

Country locations increase in popularity

 

Remote working became the norm for most of the country's workforce in 2020, which gave people the freedom to move further afield.

 

As outdoor space went up in our estimations, the need for a perfect commute distance became less important, leading to more buyer activity as homeowners and tenants found themselves restless with their current accommodation.

 

More space for remote workers

 

For those whose job will continue to operate remotely, a home office or designated workspace is essential.

 

Larger properties are in short supply, making it the ideal time for homeowners to sell up.

   

Commercial spaces transformed into residential properties

 

Commercial spaces are being left empty, as many people are now opting to work from home, where able.

 

This means that many offices have closed permanently, leading the owners to convert them back into residential properties.

 

Overall, this could have a massive impact on the market.

 

 

Do you want to know your options buying or selling this summer? We'd like to offer you a consultation, visit our website to learn more.

 

 

*ONS

 

Is selling at auction the right choice for me?

 

Selling at auction can mean a quick and easy sale, with excited bidders driving up the price of your home. But is it right for you?

 

Whilst we know selling at auction might not be for everyone, there are some key advantages if you've been thinking about this approach for your next sale.

 

Speed

 

One of the top reasons that homeowners opt for auctions is the speed of the process, which can take a matter of weeks once a property has been sold to complete.

 

Higher price

 

With your agent by your side, it's crucial to maximise the value from your marketing strategy.

 

The more interest you can drum up, the more competitive the bidding between interested parties, and all of this will ensure you receive the best possible price for your home.

 

Guaranteed closure

 

Unlike with traditional sales, there's a reduced risk of auction sales from falling through.

 

This is because the necessary checks and paperwork are completed beforehand, so when the gavel falls, the contracts have been exchanged.

 

Complete transparency

 

Each bid is made in public so the seller is fully aware of everything as it unfolds, and with a minimum reservice price, you don't need to worry about selling for under market value.

 

Who is best suited to selling at auctions?

 

Typically preferred by investors, homeowners looking to expediate the process also opt to sell at auction, where needed.

 

 

Want more information about selling at auction? Contact our team today.