What To Expect When You’re Selling
1) Secure an Energy Performance Certificate for your property
Since January 9, 2013, all advertisements concerning real estate properties in the UK are required to show an Energy Performance Certificate or EPC rating. This new rule covers ads posted on newspapers, magazines, and even online.
So what’s an EPC rating? An EPC is issued by an accredited energy assessor and it shows the rating of a property’s energy efficiency. Efficiency is measured from A to G, with A being the most efficient and G the least.
2) Decide if you’re going to sell on your own or through a real estate agent
Obviously, there are pros and cons between the two choices. But before you can choose, you have to gauge the time and money you can spare for this activity.
The biggest benefit of selling a property on our own is that it wouldn’t cost you much. However, as a trade-off, you’re going to spend a lot of time and energy marketing house you’re selling.
On the other hand, selling houses through real estate agents can come with a hefty price tag, but they would be the one responsible for putting out the advertisements, touring potential buyers into the property, and negotiating the final price of the house with the buyers.
3) Putting a price tag on the house
As I mentioned earlier, when you get the services of a real estate agent, they will be the one responsible for the price negotiations with all potential buyers. Because this is a big part of their responsibility, they make sure that their client or the seller gets the best price possible.
When you’re selling property on your own, you’re going to bear all the responsibility for getting the best possible offer for your property. Two secrets for getting the best deals are to never accept the first offer being handed to you and not rushing into a decision.
4) Choose the perfect buyer
Whether you sell the house on your own or through the help of a real estate agent, the last word on who gets to buy the house is on you. That’s why you have to put a few criteria in place to test the determination of your potential buyers.
Remember that you don’t always have to sell the house to anybody who makes the highest offer. You also have to take into consideration some factors such as the following:
• Are they first time home buyers?
• How are they going to pay for the hous: lump sum or instalment?
• Will they use the house or are they planning to make it an investment property?
Aside from that, never forget to treat all of your buyers fairly. It’s illegal to discriminate a buyer, such as putting unfavorable terms on the contract to sell or selling at a higher price, just because they are from another descent or religion.
5) Accept the offer
Always remember that acceptance of an offer isn’t set in stone.
Unless the agreement is in writing and a deposit has been made, a seller can back out of the deal if a newer, more favourable offer comes from another buyer.
Sellers, on the other hand, can’t also demand from the buyers to continue with the deal even if they failed to secure a mortgage from the house.