What are the biggest mistakes property sellers can make? We look at everything from disorganised paperwork to staying home for the viewings.
With the UK in particular showing strong signs of a property market sector going full steam ahead, now is a good time to remind those considering putting a property on the market what to do to ensure a smooth and successful transaction.
Avoid these common pitfalls to be a good, effective seller.
Top 10 pitfalls
1.Failing to pull together all official documents – title deeds, land registration documents and leasehold information before putting a property on the market. A property with a boundary dispute certainly won’t sell easily.
2.Neglecting the obvious things like keeping the house and garden tidy and the pets at bay. Just like meeting someone for the first time, first impressions are important.
3.Leaving the property as is for viewings. Sellers should depersonalise the property as much a possible so potential buyers can easily imagine living there.
4.Making it difficult for people to view the property at the most convenient times to them – for example at weekends and evenings.
5.Insisting on being present during viewings – having the owner present makes the agent’s job more tricky and the potential buyers uncomfortable.
6.Being unclear about what is and what is not included – this just irritates potential buyers.
7.Pitching the starting price too high. While it may be tempting to start higher, the first two weeks is when a property listing has the most traffic. Don’t put people off at the online search stage. Sellers who insist on ‘testing the market’ often end up worse off.
8.Rejecting early offers. If an early offer is near the asking price, then as long as the asking price was in line with the market, it can just mean that the property was priced correctly.
9.Forgetting that whatever price the property is sold for, stamp duty, solicitor and estate agency fees, will need to be deducted. Factor this in from the start to avoid a surprise at the end of the process – particularly if you are in a chain.
10. Waiting until spring or summer to put the property on the market. Homes sell all year round, so take advantage of potential buyers looking in the ‘off season’.