Category: (3)

Your home is your most valuable asset and when it comes to moving house it’s important you get it right from the outset and get advice from the best. Well prepared vendors not only get the best price, but it makes the whole process streamlined and stress-free.

Preparation includes everything from making your property look its best, to conveyancing, arranging a mortgage and choosing an estate agent

1. Crossing the threshold

Kerb appeal is often deemed the most important stage in preparing to market your property. First impressions do count, so use the opportunity to step back and observe the features of your property which could attract a potential purchaser.

Clearly display rooms for their intended use, and minimise clutter or unfinished DIY projects around the house. Show off your interior space, and bear in mind that the outdoor space should be as neat and tidy as within.

Viewings are vital to introduce you to a reliable buyer. At Mount & Minster, we endeavour to conduct viewings on your behalf, presenting your home in a neutral, informed and professional light. Our presentation skills contributed to being awarded Best Residential Sales & Lettings Agency – East Midlands in the 2017 Real Estate & Property Awards.

2. Prepare your paperwork

Provision for the legal aspects of a sale will help ensure that the process runs smoothly – this is just as important as the aesthetics of your property. Collating all relevant documents for your property prior to marketing will assure the buyer’s satisfaction down the line when queries arise.

Begin drafting an inventory of items which you anticipate leaving behind – the agents and solicitors will need to know which fixtures will remain, such as light fittings or the wood burning stove.

Compile all documents relating to any changes that you have made to the property. Alterations to the structure of the property will be required to comply to Building Regulations and Planning Permission at the time of the works, usually covered by a completion certificate. Windows installed after 1 April 2002 will require a FENSA certificate, and other remedial work will be assured by various guarantees.

You will also require an Energy Performance Certificate to market your property. This document shows potential buyers how the property could be more energy efficient and reduce its carbon dioxide emissions. Mount & Minster will arrange this survey on your behalf.

3. Figure out your finances

A key element to consider before marketing the property is your financial position. Remember to think about additional costs, such as home insurance, attaining the right mortgage agreement and conveyancing fees. These considerations will enable you to make an informed decision, alongside demonstrating your commitment and anticipation of an eventual sale.

4. Choose the best estate agent

Choosing the right local agent to market your property will guarantee that your preparations are worthwhile.

Find a firm with a great reputation, whom you feel will market your home to the highest standard and are professionally endorsed. The team at Mount & Minster pride themselves in their highly professional, pro-active and personable manner, alongside their RICS accreditations and three national awards.

When looking at other properties marketed by the firm, take notice of the standard of photography and particulars, as well as their client database. As part of a national network of 229 offices, Mount & Minster properties are often purchased by London or South Eastern buyers looking to relocate to Lincolnshire, Nottinghamshire, Leicestershire and the East Midlands generally.

Mount & Minster always provides bespoke marketing packages, unique to each individual property and client. Your home should shine on the open market and captivate the interest of prospective purchasers.

 5. Confirm your Conveyancer

The final step to consider is the instruction of a solicitor or licensed conveyancer, in order for the property to be legally transferred from yourself to the purchaser upon completion. By arranging your conveyancing as you approach the time in accepting an offer, the legal sale process can start promptly. Remember, an organised and pro-active sales progression is most likely to conclude in a successful sale.

Selling your home is an exciting and emotional event, for which Mount & Minster are delighted to share their experience, knowledge and database of registered buyers. Our award-winning firm of Estate Agents are highly trained to guide you through the whole process. Please contact us for your free valuation on either 01522 716204 or 01476 515329.

Towns and Cities throughout the East Midlands are benefiting from flattening price trends in a troublesome London property market that is seeing a wealth of investors looking further north.

Estate Agents at Mount & Minster have noted a significant increase in investment both from London-based and foreign buyers who, until recently, previously spent their money in London due to what was deemed to be a good investment with attractive yields.

The Financial Times recently reported that investors are also being increasingly put off by extensive chains in the buying process which is become more and more problematic in a slowing London, compared to the East Midlands where Lincoln is seeing quick sales and high prices achieved by the best local estate agents with savvy buyers sitting and waiting in rented accommodation until the right property comes along. Towns such as Grantham are also highly desirable due to the much improved and very reliable direct service into Kings Cross.

This changing trend shows no signs of waining as more and more cash-rich investors enjoy much more value for their money through better rental yields, as well as reliable long term capital growth.

The range of property types that are under their radar are diverse, from single mid-terrace properties, through to detached residences in the right area, all the way up to new developments throughout the whole of the East Midlands. The areas enjoying a handsome injection of wealth are Lincoln, Newark, Nottingham, Sleaford and Grantham.

For more information on property trends or to discuss investing in the area, or perhaps to have an investor introduced to you and your property you feel may be suitable for one of our many registered buyers, then please contact Mount & Minster on 01522 716 204 or 01476 515 329.

Finding your dream home can only become a reality once you have made an offer that is acceptable to the vendor. Prospective buyers must remember that preparation, position and budget are all key factors in satisfying the seller’s hearts, minds and pockets.

 

Do your homework and take considerations:

Making an informed decision with regards to your relocation demonstrates commitment. Use online resources and local knowledge to become confident in the area, previous sales and the house buying process.

Understanding of the local living costs or catchment areas will ensure your own peace of mind and avoid costly realisations in terms of time, funds and relationships with the seller, agents and solicitors during the run-up to exchange.

 

Understand your position:

Are you a first-time buyer? Do you have savings to cover the investment of your next property? Do you need to sell your house to fund your move? Will you require a mortgage? Are you already, or willing to, rent whilst waiting to find ‘the one’?

Being clear about your position, and the circumstances attracting you to the property will allow the seller to weigh up your offer, and decide whether it is complementary to their own move.

Estate agents in Lincolnshire and the East Midlands have seen a huge increase in buyers relocating from the more affluent southern counties who wish to buy a house locally whereby they can continue with the standard of living but mortgage free. These cash buyers are again hugely attractive to local estate agents such as Mount & Minster and it is important you communicate any factor that you believe makes you stand-out so that the agents can prioritise you for their clients properties.

 

Organise your financial and legal situation:

Sidestep disappointment by organising your deposit and checking your eligibility for a mortgage before you start looking. Know your maximum budget, and what your sacrifice would be for offering higher than you anticipated. Being comfortable with your finances will enable you to make a confident offer.

Remember, the first thing the estate agent will require to confirm your offer is proof of funds or confirmation in writing of your Mortgage Agreement in Principle.

Research solicitors. Their testimonials must be considered alongside their fees – after all, they will be responsible in ensuring you literally get your feet through your door. Ask a local, independent estate agent such as Mount & Minster whether they can recommend any good solicitors and avoid any ‘in-house’ conveyancing services from estate agents looking to make a few more quid, they’re likely to be less competent as dedicated professionals.

 

Develop your relationships with all involved:

Opening a line of communication with the agents will help them understand your requirements, position and eventual offer. Being proactive shows the seller that you are a serious contender; tell them your story…

Don’t be afraid to ask questions regarding the property and the seller’s position. You should all feel reassured that everyone compliments each others unique position and circumstances.

 

Do not dawdle:

If you like the property as much as you did on paper, let the agent know your thoughts the following day. Arranging a second viewing could be recommended once you’ve indicated the kind of offer you’d be interested in making. This is not an opportunity for your great-aunt, builder and candlestick-maker to come along, but to prove you are serious in your prospective purchase.

 

Tailoring your offer:

The balance between making a frugal or realistic offer can affect your scope with future negotiation. “Something is only worth what someone is willing to pay for it”, but in order to reach a mutual sweet spot, expect negotiation around a reasonable figure.

Agents are obliged to present all offers to their client, but will only disclose the region of previous offers to prospective purchasers.   This information can help you judge your starting bid.

Using round numbers runs the risk of making the same offer as another candidate – choosing an unusual figure can pique the interest of the seller, and make your offer stand out.

Starting with a lower bid, complemented by your fast-moving position, may be suitable for sellers who are looking for a quick sale. Don’t be tempted to place an offer so low that the seller will see fit to burn bridges with you. Remember that insulting the estate agent or their client with a low offer may make you less attractive as a buyer for the property of interest, or any other property for that matter.

A high number may be necessary to compensate for the risk of bringing a chain to the purchase, or to secure your bid on a popular property. Just make sure that you can afford it!

 

Keep your foot in the door!

Once the offer has been accepted, keep things moving. Provide documentation to the agents and solicitors promptly. Ensure that viewings are stopped and that the property is marketed as “Sold Subject to Contract”. Organise your survey. Keep in touch with the agent and solicitor – make sure that they are doing the same thing for the sellers.

 

Lastly, enjoy!

Buying or selling a house can be a stressful and emotional experience. But it needn’t be! Mount & Minster, as a multi-award winning estate agent, recognise that it should be exciting and effortless.

Estate agents are trained to look after you and once your offer has been accepted, you’re just as important to them as their client, without you they don’t get paid! True, this doesn’t apply to budget ‘online only’ agents as a computer screen is unlikely to hold your hand, guide you through the process and prevent unnecessary issues that could easily be avoided with professional help from a real person, but for the sensible buyers who choose to buy a sensible and attractive home from a reasonable and well-advised vendor, it should all be plain sailing and you’ll be moving-in quickly and with ease. Welcome home!

 

Author: Ann Gwyther