A vendor walks in and says “I would like to sell my house” They have no strategy and no idea on the next steps. It’s a situation we get very often. It can be difficult deciding what to do when deciding to sell your house.
First off you need to ask yourself what your reason for selling is.
It may be that it is cut and dried, for example, a job move forces the issue. If, however, the fact is that you think you need more space then it may be that you could simply spend money on a loft conversion or re-configuring the layout and use of the rooms, build an extension, a conservatory or a garden office or dig out the basement. If house prices are rising rapidly you may not be able to afford a place that’s much bigger than you are currently in!
Although moving to a new house can sound like fun the reality is that it’s a big under-taking physically, mentally and, above all, financially, so think carefully about what’s prompting you to say you want to sell your home. If you do, this is what you need to consider when thinking “i would like to sell my house”
Are you in negative equity?
If so, you either may not be able to afford to move or you will have to make up a whole chunk of money on the shortfall between what the house will realise on the open market and what monies you will have to pay back to the mortgage lender. Refresh your memory by looking at the original mortgage deal – are you liable for early redemption penalties if so, you could be liable to have to pay the mortgage company thousands of pounds in order to sell the property.
Work out your finances to see what monies you will actually have and research what new mortgage deals you can get.However, you could decide to rent before plunging into a new property. There are some very good reasons why you should consider this:
- You will be a cash buyer when you do find somewhere, meaning you can negotiate heavily and will be a very attractive proposition to any seller
- You will not be under pressure to accept an offer on your current property that you are not entirely happy with simply because you’ve found “the house of your dreams”
- You won’t be rushed into buying a house that you are not entirely happy with
- It may add to the overall cost but it means you will have broken out of the chain and you will be an attractive buyer to any seller around
If you want to sell your property you will then need to select an estate agent (or opt to DIY), instruct a solicitor or conveyancer, get your home ready for viewings, and decide what price to sell it for. Working with Zevizo Properties you will be able to get the best of both worlds – an agent whose costs are fixed so you know what to budget for an who won’t charge you an arm and a leg and an online agent that means you don’t have to go down the DIY route to try to save money so you can proceed with confidence knowing you are partnering with experienced professionals.
We hope you enjoyed the article “i would like to sell my house”. For more help and advice ask us today for a call back and we’ll discuss all the options open to you if you want to sell your home now or at any point in the future.