20 Tips to Sell Your Property in London in 2020
Top Tips from London’s Property Experts to Sell your Property Faster
Thursday, July 23rd, 2020
Selling a property has historically proven a mammoth task.
As we emerge from the Covid-19 lockdown era this process seems all the more daunting whilst the global economy thaws out from its frozen state.
Property sellers will be wondering what they can do to give themselves every possible chance of sculpting a path to a successful sale in 2020.
Here we have compiled our 20 top tips that will ensure you give yourself every possible chance of success.
1. Find the Right Agent
Choosing the right agent to market your property is critical. Local expertise is essential when it comes to ensuring a timely sale, at the right price, and to the perfect buyer.
Online alternatives leave all of the leg-work down to the seller. These options lack the on hand support, experience, and local knowledge that comes with a corporate agency or independent estate agent.
For smaller value property sales, or those looking to save on fees, online agents can be the most appropriate option. However, in the majority of scenarios, it is appropriate to hand over the reins of your sale to the industry experts.
2. Attract Buyers Using Photography & Video
Professional photography is now essential in defining the spaces of your home and giving yourself the highest probability of attracting interest.
Modern marketing strategies utilise immersive video walkthroughs to translate the essence of a property to the potential buyer. Ensuring that your property is marketed correctly can make all the difference in generating as much interest as possible online.
3. Get Your Paperwork Ready
Your appointed legal representative will need a number of documents in order to progress any future transaction. Boiler warranties, building regulation certificates or window and door certificates might be required as part of your sale. Speak to your legal representative and clarify what these are ahead of time.
Most importantly, you will need a valid Energy Performance Certificate (EPC) in order to market your property. If you do not have one of these then you will have to commission one at the earliest opportunity.
4. Know All of the Fees
If you are moving home then it is crucial that you understand the full terms of your current mortgage arrangement.
If you are on your lenders Standard Variable Rate (SVR) then you should not have any additional fees when moving. Equally, if you have a portable mortgage you can move your existing fixed rate mortgage at no extra cost and re-mortgage on your new property at the end of the fixed period.
However, if you are within a fixed rate term and do not have a portable mortgage then you may pick up additional early repayment fees. These are often between 1-5% of the remainder of your mortgage debt which will equate to thousands of pounds depending on the value of your home.
5. Carry out a Survey
It is best to disclose any potential issues regarding your property from the very outset. Arranging a condition survey of the building prior to it being placed on the market is always a sensible move. You may also discover some issues that you would like to remedy prior to the sale.
Having an independent condition survey carried out will ensure a level of transparency and trust with all your prospective buyers.
6. Price Correctly
Your estate agent will be able to provide their expert opinion as to the listed price for the property but ultimately the list price remains with the client. Non-local estate agents or online services will rely on house sale statistics from sources such as the Land Registry. This does not always give the most accurate results and consider local variations.
Some estate agents will often overstate the sale price of your home so that you instruct them over competitors. It is important to choose an agent that has a proven record of achieving the asking price on the sale of their properties.
7. Increasing Kerb Appeal
It is true what they say - You only get one chance to make a good impression. It is unquestionably important to consider the exterior aesthetics of your home. Trim overgrown bushes, jet wash your driveway and tuck those unsightly wheelie bins away. Do all you can to ensure love at first sight.
8. Spruce up the Interior
Cleaning and decluttering should be carried out prior to any photographs, videos, or property viewings taking place. It is important that the potential purchasers are able to envisage what the property would look like if they themselves were living in it.
You can make this easy for them by removing that unsightly pile of magazines on the living room table, or perhaps it's time to rehome those bicycles that you have always stored in your entryway.
It is helpful to depersonalise the space to a certain degree. Keeping personal family photos to a minimum and removing things such as bedroom posters can help viewers forecast their own sense of ownership to the rooms as they explore.
Despite this, it is important not to strip your house back to resemble a soulless hotel suite. Remember to leave enough decor and some of your personal touches to inspire the imagination.
9. Add a Lick of Paint
Giving your walls a fresh lick of paint in a neutral colour will help give the impression of space and brightness. This helps the potential buyer to imagine how they would adapt the rooms to their own personal taste and needs.
When unimposing colour schemes are incorporated into your home It will give confidence that the space can be moved into immediately without hassle.
10. Get Those Odd Jobs Done
Be sure to make all minor repairs that need completing in your home. These can range from broken handles, chipped bathroom tiles or replacing tired skirting boards. It’s the attention to the small details that will give the overall level of completeness and ensure a home ready to be lived in.
11. Refresh Your Kitchen
It is widely accepted that the kitchen space is the most important room in a home. It is essential that this area of the house is as aesthetically pleasing and functional as possible.
If the kitchen space is in dire need of attention then it might be worth adding the value to the property yourself and enjoying an increased sale price, rather than the purchaser benefiting financially through their own inevitable renovation.
There are any number of creative and inexpensive ways that homeowners can reinvent their kitchens. CountryLiving.com provides 15 DIY Kitchen Ideas that give great examples of how kitchens can be transformed.
12. Excite in the Bedroom
It is true that the kitchen is the most important, but don’t let it prevent you from making a lasting impression in the bedroom. New bed linen is a relatively inexpensive way of making the room look fresh and crisp.
On-trend duvet sets can really make the bedroom space impress. You can replace the linen after the viewing and hang it somewhere so that it remains un-creased until the next viewing.
13. Think Smart Technology
Smart technology is fast becoming a must-have feature in any modern home, particularly in the prime real estate market. This technology provides the ability to monitor security, fire safety, temperature and locking systems.
Yonomi.co provides 5 East Smart Home Tech Upgrades which might give you some ideas of potential upgrades to your property. These will increase the saleability of the property in our technology-driven climate.
14. Get Pets Out of the House
Your pet dog or cat is undoubtedly loved by yourself and your family. This may not be the case for anyone coming into your home for a property viewing and may in fact act as a distraction to the process itself.
Worse still, the viewer could be allergic to your beloved pet. It is a good idea to call on the assistance of helpful neighbours to take care of your pets for a short while whilst viewings take place.
15. Consider the Smells
HGTV.ca provides useful tips and tricks to eliminate foul odours and ensure buyers are not deterred by the smell in a smoking household.
Equally, foul odours can originate from other sources within the home; drains, wash bins or even unclean upholstery. Be sure to tackle bad odour at the source rather than attempt to mask the smell.
On the contrary, another top tip is to incorporate some gratifying smells into your home on the day of your viewings. Scented candles or even the pleasant aroma of freshly brewed coffee are inviting olfactory stimulators that will make your guests feel at home.
16. Get a Second Opinion
Once you have completed all of the necessary refurbishments, fixes and decluttering, it is certainly worth getting the opinion of an honest and trusted friend to highlight both the strengths and weaknesses of your property.
A second set of eyes will certainly pick up on aspects that you did not consider yourself and may indicate some further areas for improvement.
17. Brush up on Your Sales Technique
You may have your estate agent take full control with respect to viewings but, more than likely, you will be present when some viewings take place.
Touch up on your sales technique and make sure you know all of your properties main strengths and selling points to roll off the tongue for all prospective buyers.
The excellent performance of the fibre optic internet connection in the area, or information on the various schooling options available, are all essential details that will go a long way to selling your home.
18. Give Buyers Space
Give your viewers the space to roam and explore freely the different areas of the property at their own pace and without distraction. Once you or your agent has explained the main talking points of the house, allow the potential buyers time on their own to absorb the building in their own time.
19. Choose the Best Buyer
If you are in the fortunate position of having multiple bids on your property then it is not always the case that the highest bidder is the most appropriate option.
Complex chains are something to be wary of. If you are selling to a party that is in the middle of a chain then there are a large number of circumstances that are to be successfully fulfilled in order for your successful sale. If a quick sale is important then it is important to understand potential hold ups here.
20. Find the Right Conveyancer or Solicitor
Once an offer has been agreed you will need either a conveyancer or solicitor in order to manage the transfer of legal ownership of your property.
Both Conveyancers and Solicitors are licensed to do so and will broadly follow the same steps to completion. Conveyancers are specialist property lawyers that tackle residential and corporate transactions on a frequent basis. Solicitors have a wider range of expertise in law and can offer additional knowledge and services, such as divorce proceedings and liquidity services.
It may be more appropriate to use a solicitor when the sale of your property is intertwined with other legalities, such as bankruptcy or divorce. The additional knowledge and expertise comes at a premium but is well worth the additional cost for more complex transactions.
Vyomm - London Property Experts Enabling Sellers to Succeed
We have compiled this list of 20 top tips to arm you with the greatest possibility of success when selling your home. Vyomm is a smart property portal and platform that enables homeowners like you to sell faster and at a better value by using the latest tools and technology.
You can Sign Up and list your property within minutes and reach out to a vast network of agent partners in the London prime real estate market.
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