Top Tips when selling your home

There are a lot of things to consider when you want to sell your home.  You need to get a value that matches your ambitions, check the current market and a lot more.  Here are some top tips to get you thinking.

Check out our little nuggets of advice below;

The Market

News sources, government policies, price indexes, a flat market, all these factors can get your head in a spin.  Sometimes the more you read and research the more you feel you will never sell.  Though it is recommended to take notice of these things, they can also be contradictory as they all rely on different data.

The thing to remember is all information is based on averages and your home will have many factors that might make it above average, for example, the area, the pocket of that area, the street and, in some cases, even which end or side of the street the home is on.

Don’t be to put off by this information overload and get at least three different valuations so you can come to an average yourself.

 

The right estate agent

Selling the home you currently live in that has memories hidden in every wall, window or garden can be an emotional and stressful business.

You need the right estate agent to not only represent you and your home for sale but to be up to date in their marketing and selling techniques.  You need value for money and an estate agent with a good history.  These days you can check reviews online and it doesn’t hurt to ask the estate agent for any testimonials from previous people who have sold through them.

Its key to remember if you list your property with more than one estate agent you may have to pay various fee’s no matter which one is successful.  Always read the terms and conditions or get a legal professional to assist with these type of documents.

 

Maximise the curb appeal

Buyers are seeking the wow factor even before they are even on your driveway.  Make sure you do everything to make sure your home is impressive before they potential buyer even steps foot inside.

You can do this with some simple touches like making sure the front gate has a new paint job, the grass is freshly cut or driveway is clean and clutter-free.  Maybe plant some flowers and maybe add a lick of paint to the front door.

Move your bins out of view and maybe tidy that dogs mess, if you have a dog.

 

Inside your home

The buyer has been knocked over by how good the outside of your house looks so let continue the theme.  Make sure you have cleaned top to bottom and any non-essential clutter has been removed.  You want to create a homely feel but also want the buyer to see the potential for there own vision of a home.

Its good idea to have flowers to create a nice atmosphere.  Mirrors can create a feeling of more space.  Make sure your kitchen is clean and fresh as this is always a huge selling point in home buying.  Make sure there is as much light as possible filling every room.

If you have pets, get them looked after.  Could you imagine if the buyer is scared of dogs for example or even worse has an allergy to them, that would be the sale over before it’s started.

 

All the little things

Before getting your first viewing make sure you have left no stone unturned.  Its great to make a checklist of every little thing you need to do before a viewing.  Try and think from the buyer’s point of view, they are potentially going to live in this home for the next 25 years or more, don’t let them be put off by something silly like that stain from the red wine you spilled at dinner last month.

 

What is each room for?

A buyer needs to be able to picture your home as their own so it is essential to make sure each room has its defined purpose.  If you converted the spare room into your mini gym then move the gym stuff out and let your buyer imagine inviting guests to stay over in their new spare room.

It is important to let the buyer visualise as much as possible themselves living in this home so try to de-personalize wherever you can.

 

The outdoor space

This is a massive part of any property.  The garden is where most people enjoy social gathering, playing with the kids or relaxing after work.  Make sure the outside areas are clear and inviting.  Let the buyer imagine all the good time they will have in those spaces.

 

Don’t be the suspicious security guard

There is nothing worse when viewing a house if the current homeowners are following potential buyers round like a suspicious security guard.  Let the buyers wonder around with the estate agent, you have employed the estate agent to sell your house so let them do their job.

The buyer needs to feel comfortable to spend as much or as little time as they need to view the house they might buy.  Also be ready to answer any questions they have after the viewing and remember to not take any questions personally, think of your home as their potential home and not intruders who don’t appreciate the time you have spent here, because in most cases they don’t care, they care about their future, not your past.

 

Choosing the best buyer

Hopefully, you have received a number of offers, the next thing to do is chose the right buyer.  Buyers that have already owned a home or chain free first-time buyers are likely to be a safer bet.  Cash buyers are also easier to deal with as they will not have the concerns of a mortgage slowing the process.  Over factors will need to be considered like if you need to buy a new home yourself or you are looking to rent while you look.

Many thanks and if you have any questions feel more than free to contact me HERE.

Thanks for taking the time to read all the way to the end, Nick

 

 

What is Conveyancing?

Buying your first home can feel like a tall order.  Not only do you need to come up with a decent deposit, but you also need to deal with mortgage brokers, Banks, Lawyers, estate agents, the list goes on.

Conveyancing is the legal transfer of property from one person to another.  For this, you will need a licensed conveyancing professional or a conveyancing solicitor.  Conveyancing is the process of completing all legal and administrative work required to ensure the property purchase and sale is valid under the law.

What does a conveyancing solicitor or professional do? Take a look at the process in the below diagram:

Let’s go through the process step by step:

  1. Instruct your conveyancer:

Once you pick and conveyancing professional or solicitor you will instruct them.  All this means Is that you have chosen them to do the work and an instruction is you telling them to get started.

  1. Notification of Sale:

This is a non-legally binding letter setting out terms of the purchase or sale including the details of the legal firms acting on behalf of each party.

  1. Draft Contract and title deeds:

The conveyancer receives the draft contract and title deeds.

  1. Property enquiries are raised:

These are all the checks that need to be done to make sure the home you are buying hasn’t got any major issues or things you should know about.  For example, the house might be located on contaminated land and that’s something you need to know before continuing.

  1. Receive contract and the full report from conveyancer:

You will receive the contract and the report containing all the findings of the conveyancer.

  1. House fitting and fixtures checked:

All house fitting and fixtures checked so any issues are highlighted and can be fixed in good time.

  1. Mortgage offer received by conveyancer:

Conveyancer receives mortgage offer from the lender.

  1. Sign the mortgage offer document:

Buyer checks and signs the mortgage offer from the lender.

  1. Sign the contract:

The buyer signs the contract of sale.

  1. Conveyancer transfers deposit for exchange:

Conveyancer transfers the deposit to the seller’s conveyancer.

  1. Agree on completion date:

The conveyancer prepares and sends the completion statement and a completion date is agreed between the two parties.

  1. Exchange contracts:

Both the buyers and sellers sign identical contracts and they are then formally exchanged by the buyer and seller’s conveyancers.  At this point, the deal becomes legally binding.  At this stage, if any party decide to pull out they will in most cases receive major penalties.

  1. Conveyancer requests mortgage funds:

Your conveyancer requests the mortgage funds to be paid to the seller’s conveyancer from the lender.

  1. Transfer of residual funds:

Your conveyancer transfers the funds less the original deposit to the seller’s conveyancer.

  1. Final check by conveyancer:

Your conveyancer will do the final checks for the property to be delivered to you.

  1. Purchase completed:

You receive the keys and you are ready to move into your new home.

 

Many thanks and if you have any questions feel more than free to contact me HERE.

Thanks for taking the time to read all the way to the end, Nick

 

Top Tips to Help you get a Mortgage

SO you need a Mortgage?

Getting a mortgage is likely to be the biggest and most important financial commitment you will ever make.  Finding the right deal is very important and there are a few things you can do to improve your chances of getting a mortgage.

Check out our top tips to help you get the right mortgage.

 

Your credit score is important:

Before taking the big step and getting that mortgage you need to make sure your financials are in order.  You will need a copy of your credit report which you can get from credit reference agencies such as Experian or Equifax .

This will show you what your potential lender will see.  There are lots of simple things you can do if your credit report has any issues, make sure you settle any overdue credit card accounts, pay off outstanding loans and any bills like your mobile phone bill as you will find out next, can cause a big problem.

My friend Alex kept getting rejected for mortgages and he could not understand why.  He had a big deposit, a very good wage and had never been in serious debt, but he kept getting no’s.  He did a credit check and found out he had a mark on his name because of a £12 mobile phone charge that he had not paid 4 years earlier.  It turned out this was a mistake by the mobile phone company, however from this story you can see the littlest thing can cause a big problem, so checking and resolving can prevent the headache Alex went through.

 

Your budget:

Make sure to sit down and work out your budget before applying for a mortgage.  You will need to work out your borrowing potential based on your income.  You will need to make sure you have enough to cover the cost of your potential new home and other fees associated with buying a new home, like legal fees included in the conveyancing process.

You need to know how much you can borrow against what you earn and can lay down as a deposit.  Click here to check the figures

Make sure you come back for what’s next.

 

Your Job:

It is always an advantage with lenders when you have been in the same job for years and not months.  This shows you have a reliable and stable income, this shows that you are less of a risk than if you are changing jobs often or have not been in a job for long.

Don’t worry, this is not to say that you will not be accepted for a mortgage if you have recently started a job, but it may affect the number of lenders you can choose from.

 

Debts will get in the way:

The last thing your potential lender will want to see is that you owe money all over town, credit card debt and outstanding loans will be an issue.

Before you apply for a mortgage it is best to try and reduce or even pay off any outstanding debt.  This will show that you can manage your money responsibly and will mean your application is much more likely to succeed.  This will also help with the amount you may borrow based on the lender’s affordability calculations.

 

Proof of income:

You will need to provide your P60 form which you can request from your employer.  You will also likely be asked to produce three months’ worth of bank statements to show your incoming and outgoing transactions.

 

If you are self-employed:

Getting a mortgage when self-employed can be little trickier, especially if it is a new venture with not much history.

Lenders need to know you can keep up with repayments and will likely ask you for an SA302 form relating to the last three years from HMRC or your full account for the last three years.

It’s all about risk, you want to show the lender you are a safe bet. Keeping good a financial record and a lengthy history of trading are the keys if you are self-employed.

 

Deposit – The bigger the better:

This is the simple part, the more of a deposit you have the better your chance is of securing a mortgage with favorable terms.  Lenders give their best rates to those with big deposits.  This means you will likely get a better deal and benefit from lower monthly payments.

 

You should get help:

Although D.I.Y is ever a popular way to do a lot of things when it comes to mortgages it helps to see a professional.  Mortgage brokers are professionally trained to give you the correct advice and support when applying and getting a mortgage.  They will have a great knowledge of the deals around and will be able to point you in the right direction.

Many thanks and if you have any questions feel more than free to contact me HERE.

Thanks for taking the time to read all the way to the end, Nick