There are always many questions when buying or selling a property, even if you have bought and sold before. On this page we will try to answer some of those more common queries and concerns.
SELLING A PROPERTY
The first thing we consider when looking at value is the postcode. It’s like they say Location, Location, Location. Some areas are more in demand and some areas have more potential growth, but they all have a rating in the hierarchy of the Norfolk property market. Then we move onto the exterior of the property, we will look for signs of wear and tear and general upkeep, looking for objections that buyers may have, which could potentially ‘wobble’ a sale. We will discuss these and look at any remedies that are potentially needed or any recommendations I might make to boost the curb appeal.
After that we will move inside looking at each of the spaces individually, making sure that we address any areas of concern answering any questions that you may have as we go. Whilst we ‘take the tour’ will be taking down some notes and most importantly I will take a square footage measurement.
After this we can then have a chat about price. I like to explain where a price comes from, I will explain how the square footage comes into play, show you comparable properties that have recently sold and also some that are already on the market. We will also look at the market conditions and who the potential buyer could be. This will help us to put together a strategy to target the right buyer to sell the property in the right timescale and for the right price. It all sounds very easy! This is something that I have done thousands of times over a career in property starting in the early 1990’s, so I am very comfortable saying that there are not many properties that we can’t put at least a “price band” on the day. What we can always do, is put together a marketing strategy that will best suit you.
So what sells a property these days? Over my career I have seen a whole host of different marketing ideas from weird pricing like “offers in excess of £234,765” to comments like “STAMP DUTY PAID”. The reality is that it’s all about presentation. It’s about getting a really good set of photographs, it’s about understanding who the buyer will be and subtly targeting them. It’s about understanding how the property is performing in the market and making the most of the viewing feedback. Plus behind the scenes there is a vast amount of information in the form of statistics that will help us to understand how the property is performing before the viewings even start!
When I first started in this business all I had to sell a house was a window, a local newspaper and a box of names! Now we have the internet, which can reach out globally overnight and show us who around the world is interested. This may sound a little grandiose but I have sold properties to a number of people who viewed initially online whilst overseas.
With most properties online we expect to reach thousands of buyers immediately, we can then see how many take that first step and click on your property, leading us to a whole new level of information for analysis.
So we know that the internet works, but is not just about uploading a few pictures and a bit of informative text. The pictures have to show the properties best attributes, the text should be informative but also give a understanding of what the property really feels like. We also use floor plans and as well as 3D floor plans to help people visualize their potential new home.
I pleased to say that we still have the box of names and we still use the good old fashioned for sale board, in fact these are still two of the most effective techniques of generating interest.
That first impression really does count, take some time to weed the front drive if it needs it and try to make the entrance as appealing as possible. Put up some hanging baskets or move some potted plants to throw in a flash of colour. Trim the hedge if it needs it and make sure that the property name or number is clearly visible from the road.
Moving inside the key to making a room look as large as possible is space. Surface area is another good way to explain it. In the kitchen we need to see as much of the worktops as possible, this makes the eye think it’s bigger and the lack of clutter gives a clean overall view. The same principal is followed through the home, in the bathroom hide away the numerous bottles by the bath and pull up the blind to let as much light in as possible. Take away any bold colored items that clash with the general décor and open all the doors.
It can be quite a fine line when presenting a home, so we are more than happy to give you some guidance to get it looking perfect.
An EPC is an Energy Performance Certificate and they are required whenever a property is built, sold or rented. The Government provides an excellent guide here
BUYING A PROPERTY
My answer is always yes.
There are various types of survey… Homebuyers, Mortgage and Building, more commonly / historically known as Structural survey.
The thing to remember is that these reports cost a fraction of the value of the property you may be considering buying and therefore they will protect you from unforeseen eventualities. Buying a new home is very emotional, by having an impartial third party give your next home the once over, is good advice as you may be missing or underestimating elements of your purchase.
This is a useful link to the government web site highlighting the land tax charges here
If you have a house to sell, I would generally suggest you compile a shortlist of properties that you would view when you are ready to step it up a gear.
If you have a house to sell and it is not on the market, you may find that not all vendors will consider a viewing.
If you are a cash buyer or first time buyer with approved funds, go for it!
If you are on the market and have had some viewings and perhaps a 2nd viewing, start viewings of your own. It is far easier to negotiate both your sale and purchase at the same time, than to commit yourself to a purchase without the knowledge of what money you have behind you.
There is a fine balance when it comes to viewings. I often come across people that have found the perfect property and have no idea what their home is worth…
This can be very difficult as they may end up selling quickly and for a low price and paying too much for the home they are interested in to hold it as they are in a panic.
I always recommend people have at least a valuation before they start viewing unless they have some other way of funding the transaction.