If you’re selling a house, you’ve probably wondered a thing or two about the entire process. One thing you should know is that selling a property is more than just registering it with your local estate agent.
There are many considerations to take before you even register with an estate agent. So, if you’re one of many, here are the most common questions asked about house selling, and their answers:
1. Do You Need an Agent?
Before starting the selling process, the first thing to do is to ask yourself if you need to hire an estate agent. Some home sellers prefer to sell their properties on their own, without the help of estate agents.
However, estate agents are part of the selling process, and if you’ve never sold a property before, it might be a good idea to hire an agent.
Moreover, you should know that some agents earn their money by charging a commission on the sale of the property, while others earn money by charging a flat fee.
Hiring an agent that charges commission makes more sense if you plan on selling your property for more than £65,000, then they’ll get at least six per cent on top of the selling price.
On the other hand, hiring an agent who charges a flat fee might be more sensible if you’re selling your home for less than that amount.
2. How Do You Register Your Property?
The first thing you need to do is register your property with your local estate agent.
Before you do that, you should ask your agent whether you’re required to pay a registration fee.
If you’re selling a condominium or townhouse, you’ll be required to pay a registration fee, and this cost will probably be about £220.
3. Do You Need an Inspection?
When you’re selling a property, you need to know if the property has any defects that could lower the selling price.
Some home sellers choose to inspect their homes themselves. However, most prefer to hire an expert to perform a legal home inspection.
A home inspector can detect problems that are causing or could cause damage to the property and let you know if the house is in good condition. They’ll also let you know whether the selling price should be based on its current state or an estimate of future repairs.
A home inspection can reveal defects such as pest infestations, clogged drains, water leaks, broken windows and doors, cracks in the wall and foundation and mould.
4. When Is the Best Time to Sell?
The best time to sell your property depends on multiple factors, such as the market’s state, your location, market trends, your home’s condition and so on.
If you’re selling in a good market, you’ll be more likely to get the best price for your house. However, some markets aren’t as hot as before, especially some housing markets in the UK.
5. What Are The Costs Of Selling?
The cost to sell your property depends on the expenses you incur while selling.
For example, if you choose to sell your property on your own, you won’t be required to hire an agent. Instead, you’ll only pay for other costs, such as the home inspection, if you choose to.
If you hire an agent, you’ll generally pay for their commission, the marketing costs, which depends on your location, the administrative costs, including emailing potential buyers and scheduling appointments, and the open house costs for each open house.
Like any other purchase or sale, selling a home should be done the right way to prevent any problems or issues later on. Don’t forget to ask yourself these questions before you make your decision.
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