Options on Selling Your House in a Falling Market
By Susy Copus
If your property is on the market at the moment here's some tips to help you get some viewings and sell your house.
The property market continues to fall and is expected to do so for some time yet. If your property is on the market you simply want to sell your house and be able to get on with the next step in your life. There are no quick, easy fixes to selling your house in the current market, but here we will outline some approaches that you may not have tried.
The estate agents say lower your price. Obviously this is true. Lower your price and you will be more attractive to the elusive buyers. If you want to buy another house then this option might be possible as it's likely that your next property will have a lower price too. You could sell at a lower price, rent for a few months and then be a cash buyer once the market has bottomed out. You'd be the perfect buyer.
Alternatively, prepare your house to be not just another house, but a wonderful house, and an opportunity for someone to buy. What's special about your house? What can you make special about your house? Put in some thought, time and possibly money to make it more special.
Perhaps a drab garden can become the perfect garden for children with a wendy house, lawn and flowers. Perhaps the space under the stairs can be a work station, or a pretty, exposed storage space. Perhaps the hall can be made into a welcoming space by a fresh lick of paint and careful lighting, the rooms warm and give the feel-good factor.
Speak to your agent. Yes, the market is difficult, but can the photos be redone? Photos are usually the first impression a buyer can get. If you are not be impressed with the image then others won't be either. Ask the agent to take new ones, or you may be able to take them yourself. Has the description enough "wow-factor" and is it correct? Wording in the description is very important and you must check it carefully.
Advertise your property on private sellers websites and newspapers. Some sites are free and just need your time to input the details. This gives you more exposure. You may be able to register with more than one agency and if not, ask when your contract is up to go with another agent. Agents do not want to lose any business and may be able to make a few more calls and follow more leads if they know you are serious about moving your house sale to another agent.
And if you can't sell your house?
Unfortunately there isn't much choice and you will need to make a decision which will be a relief in itself. You can stay in your house and wait for the housing market to recover which it will at some point. If you have enough space you could even rent out a room and save the income to have a bigger deposit for your next move. If you can't sell your house and you need to move for a specific purpose, then you need to look into renting out your property and renting in your new location. You can then sell and buy when the housing market recovers.
There are less buyers out there, but house sales are still going through. Your house needs to shine and stand out as an opportunity not to be missed.
About the Author: Susy Copus writes about all aspects of the property market. Her work has featured the UK Property Search Engine, Wheres My Property, Renovate Alerts who find property to renovate and Property Money Maker.
|