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The Great 'what you wish you'd known before selling your house' Hunt

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  • vivatifosi
    vivatifosi Posts: 18,746 Forumite
    Part of the Furniture 10,000 Posts Mortgage-free Glee! PPI Party Pooper
    googler wrote: »
    Everything that is visible to viewers should be something designed to be appealling, and to 'sell' your home.

    Seconded! You should have seen my car at the time of viewings. I referred to my boot as the spare bedroom. If you're going to load up the car so the house looks less busy, its also a good idea to park it away from the house so nobody sees a car full of decluttering. For that matter, park away from the house anyway, so if you have a drive or parking space people park there. They don't want to realise how difficult it is to park locally when your drive is full.

    Also get rid of any smells. I hate smelly houses, especially where the house smells stale, or of animals, or of yesterday's dinner...
    Please stay safe in the sun and learn the A-E of melanoma: A = asymmetry, B = irregular borders, C= different colours, D= diameter, larger than 6mm, E = evolving, is your mole changing? Most moles are not cancerous, any doubts, please check next time you visit your GP.
  • kandg
    kandg Posts: 52 Forumite
    We viewed a house where one bedroom was described as " the animals bedroom" which was full of animal hair and cages for cats and we were told the stairs had boxes on them " to act as a barrier for the animals who keep having accidents upstairs"
    It was the smelliest house ever!
    Unbelievably we did buy it and the first thing we did ( wearing masks and gloves) was remove the carpets and open the windows!!
  • Foxy57
    Foxy57 Posts: 2 Newbie
    edited 7 November 2012 at 5:34PM
    Paramount wrote: »
    Remember to put aside enough money for the other costs involved in buying property, beyond the cost of the property itself.

    These can vary dramatically in price, but include mortgage fees, legal fees and surveyors costs.

    Also stamp duty is payable on all properties that cost more than £125k.

    ...at these rates;

    2011/2012 stamp duty rates

    Up to £125,000 0%
    £125,001 - £250,000 1%
    £250,001 - £500,000 3%
    £500,001 - £1,000,000 4%
    £1,000,001 - £2,000,000 5%
    over £2,000,000 7%

    Complete rip-off.
    We're taxed on everything from living to dying, inclusive.

    Foxy
  • airgead
    airgead Posts: 36 Forumite
    Things I wish I'd known...
    That the person who eventually bought the house would be someone who found out about the sale via word-of-mouth from my Mum, yet the Estate Agent still got their percentage fee from the sale.
    Next time I will advertise privately first before I go to an Estate Agent. They didn't show anyone around and they didn't even put a For Sale sign up. They had money for nothing from me.
  • Slinky
    Slinky Posts: 11,028 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    airgead wrote: »
    Things I wish I'd known...
    That the person who eventually bought the house would be someone who found out about the sale via word-of-mouth from my Mum, yet the Estate Agent still got their percentage fee from the sale.
    Next time I will advertise privately first before I go to an Estate Agent. They didn't show anyone around and they didn't even put a For Sale sign up. They had money for nothing from me.

    Why? Did you give the agent Sole Selling Rights?
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  • Patr100 wrote: »
    Fine , but isn't this thread about selling not buying?

    Apologies - new to the forum and my thoughts got sidetracked!
  • Liz1966
    Liz1966 Posts: 148 Forumite
    Part of the Furniture 100 Posts
    Find out what documentation you will need to give the buyer before you put your home on the market. Collate it all so that it does not delay the sale and you do not have to rush around to find it when you are stressed.

    This will include when you had the boiler serviced, any electrical work that had to be signed off, details of council tax banding, replacement windows must have fensa certificate or buildings regulation approval etc.
  • Nan_Dingle
    Nan_Dingle Posts: 166 Forumite
    edited 7 November 2012 at 7:56PM
    Your house is only 'worth' what a buyer will offer today, not what you bought it for in 2007 and regardless of how many special memories it has for you

    Consider paying a professional cleaner to get everything in the lavvy, kitchen etc. gleaming esp. if you are selling built-in cooker. Doggie & nappy smells etc. have to be eliminated if you want a good price

    Get the kerb appeal right, so no wheelie-bins and brown conifers in pots

    The kitchen and bathroom have to be tip-top, buyers are now expecting a contemporary kitchen

    Viewers simply can't imagine a double-bed etc in a room, you need to stage each room for it's primary use.

    Don't expect any meaningful feedback from viewers, you'll just get a bland 'not what we are looking for'

    Do your own viewings as EAs will just sent out the office temp with the keys

    You'll have 3 viewings within 48 hours of instructing the EA, these are his family and friends to fool you into thinking the EA has loads of proceedable buyers on the books.

    'Mystery shop' several EAs for propertys like yours to see how well they sell them

    Don't accept more than 8 week lock-in contract with an EA, they will negotiate!

    Look at the EAs other properties on Rightmove as judge how well they are presented and quality of pics

    Be ready to answers questions about tax band, heating bills, insurance costs etc.

    Insist the EA send you their stats on how many people have looked at the property on Rightmove and if peeps look at the pictures. The EA should also provide a comparison to the branch average on Rightmove, to judge if yours is the runt of the litter

    You need to keep the property immaculate as you never know when a viewer will want to come in

    The solicitor recommenced by the EA will be rubbish

    Everything should be payable on completion, pay £0 up front to EA or solicitor

    Don't grudgingly chase the market down if other properties are coming on ££s less, set a 'price to sell' at once

    Don't hang about thinking you'll get a few quid more, the costs and aggro of waiting for a better offer quickly outweigh this

    Sell-up as soon as you see the area is decline, don't wait until the estate has a 'reputation'

    BUT don't try and be clever and time the market to sell at the top then rent until prices drop, you'll likely get it wrong

    Independent EAs might work harder for sales commission than chains.

    If you have free time and it's a simple sale, consider doing your own conveyance and save ££

    Don't discharge a shotgun at your neighbour over a parking dispute as you'll need to disclose this. Whoops!
  • John_Pierpoint
    John_Pierpoint Posts: 8,401 Forumite
    Part of the Furniture 1,000 Posts
    edited 8 November 2012 at 8:26AM
    airgead wrote: »
    Things I wish I'd known...
    That the person who eventually bought the house would be someone who found out about the sale via word-of-mouth from my Mum, yet the Estate Agent still got their percentage fee from the sale.
    Next time I will advertise privately first before I go to an Estate Agent. They didn't show anyone around and they didn't even put a For Sale sign up. They had money for nothing from me.

    The hardest thing is to set the price right, even though we all now have access to various price sites.
    Obviously if the street is a terrace of identical houses, setting the price is easier.
    So I would play both ends against the middle, trying to find a "good" estate agent, while putting out feelers privately.
    I've sold 4 houses in the last 10 years (mainly deaths in the family) and managed to beat the estate agent 3 times;). In the fourth example the estate agent managed to get three buyers wanting the house and earned his commission playing one off against the others.
    Nan dingle, in previous posting, knows how to do it !
    Liz1966 wrote: »
    Find out what documentation you will need to give the buyer before you put your home on the market. Collate it all so that it does not delay the sale and you do not have to rush around to find it when you are stressed.

    This will include when you had the boiler serviced, any electrical work that had to be signed off, details of council tax banding, replacement windows must have fensa certificate or buildings regulation approval etc.

    If you have it get it ready, but by the time the solicitor asks for it, the buyer has probably mentally committed to buy. When I bought a repossession the documentation more or less said: "you must know more about this property than we do, so rely on your own judgement - don't bother asking us."
    However showing the potential buyer independent evidence about the house can mark the seller out as serious and realistic and the same goes for the buyer asking for such information. Beware of the Energy Performance Certificate - though it is a tick box job for which the ticker got paid £45 - it will be going on a database against the property and may come back to haunt the owner, as taxation of carbon emissions increases. It is already a trigger for carbon reduction subsidies such as PV panels - RHI - Green Deal - ...........?

    I am amazed that virtually all buyers totally ignore this information and buy on the strength of a half hour visit with "the girl from the office with the keys", who, working for the seller, has to be very careful about what she says. - it is always a balance between upsetting the current owner and buying a pig in a poke, if the buyer insist on doing their own full structural survey - but only a foolish buyer would buy without one, and usually something emerges that the seller probably knew about, but was keeping quiet.

    How many buyers know that changes in the envelope and the heating probably require certification, regulation and perhaps planning permission? Such changes can be used as a lever for further improvements to the property. How many buyers are bothered ? One in 50?
  • googler
    googler Posts: 16,103 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    How many buyers know that changes in the envelope and the heating probably require certification, regulation and perhaps planning permission?

    Excuse me? Changes in the envelope?
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