What should you consider before moving home?
THEODORA MICHAELOUDIS >
Consultant SolicitorFri 25 January 2019
Today's top conveyancing tips from our Reisident Property Expert Theodora help you plan the purchase of your dream home.
The most important thing is to make a decision. You need to know whether moving is really what you want to do. You may choose to consider good transport links, accessibility to local schools and parking arrangements. You may even consider the planning restrictions in a particular area, if renovation is your goal.
It is undeniable that UK’s pending departure of the EU has increased the concern as there is uncertainty as to how house values will change. Sellers are worried the price will decrease and equally buyers are also worried that the value of the property they want to buy will decrease in value, as well as worrying about mortgage interest rates. Time will tell, however, whilst it is a volatile market, keep an eye out on the market trends. The property market is always evolving and doesn’t stay the same for long. Don’t be afraid to test the market.
It is advisable to have your property valued. Sometimes properties can be over valued and this affects the interest that is generated from potential interested parties. Make sure you obtain a few valuations as that will allow you to determine the best asking price for your property. Remember that the price you market your property for could be negotiated with a potential buyer. You may end up receiving less than you have marketed your property for.
Preparing your property
Once you decide that you want to place your property on the market, pick an estate agent that you can work well together with. The estate agent will be arranging your viewings and heavily involved in the sale of your property. Your estate agent will also arrange photos and floor plans. Be available to answer any questions that the agent and a potential buyer may need to ask following a viewing and before an offer is made.
Stay patient. Everything takes time. Allow enough time for interest to be generated and also for potential buyers to check on their mortgage/finance arrangements.
The Conveyancing Process
Once you have found a buyer, instruct a Solicitor who has capacity to work on your case and guide you through the conveyancing process.
Please contact Theordora Michaeloudis, our Residential Property Expert in London and the surrounding area, for more information.
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