Selling your house for the first time? This is what you need to know…
Putting your home on the market can seem like a daunting task. After all, it takes a lot of preparation to try and find the right estate agent and gather all of the necessary documents needed before your home can go up for sale. If you’re unsure about what to do to maximise the chances of selling your home, then have a look at our top tips below.
Do not become emotionally attached
This may sound quite difficult – especially if you’re selling your first family home – but it’s important to treat your home as a business once it’s on the market, and your main goal is to get as much money for it as you can. This is achieved by making your home as neutral as possible so that viewers can imagine themselves in your home. If you have brightly-coloured walls, paint them a neutral colour like white. By doing this, you will be giving buyers a blank canvas to let their imaginations run wild. If painting the walls and removing outlandish decorations help to secure a sale, then it’s surely worth the time and effort.
You may need to pay Capital Gains Tax
When you sell your property for a profit, you may have to pay Capital Gains Tax on the profit you make, unless it falls under a certain threshold. You can find out what criteria you need to meet to avoid paying this tax, but you’ll usually be exempt if the property is your main home and you’ve lived in it for the duration you’ve owned it. The amount of tax you’ll pay will have an impact on the properties you will be able to afford in the future. To enable you to plan ahead, you should use a Capital Gains Calculator. This will protect you against any nasty surprises down the line.
People will come in with lower offers than expected
Just like you should treat the selling of your property as a business, other people are sure to be doing the same. Do not be surprised or offended if the buyer starts off with an offer that’s much lower than expected because they are only trying to get the best deal for themselves. After all, a lower offer gives you room to negotiate and find a price bracket that is suitable for both parties.
The time it takes to sell your home will vary
There could be lots of factors that determine how long it takes to sell your home. For example, you could be in a chain of buyers, or you could suffer delays and setbacks in your mortgage negotiations – and that’s before you’ve even taken the conditions of the property market into consideration. It could take days, weeks or months.
However, if you are selling a house in probate and are looking for a quick, no fuss sale, consider working with a specialist like Probate Purchasers. They work with the executor and beneficiaries of the will to secure a quick sale, and, regardless of its condition, they guarantee to buy your home – meaning you’ll be able to save time and money on property marketing and maintenance.