How To Make The Most Of A Seller's Market

Benjamin Franklin once famously said “By failing to prepare, you are preparing to fail.” This rings true for many things in life and is very relevant to the current seller’s market whether you are a seller or a buyer. So how can you ensure that you are correctly prepared in order to make the most of the current seller’s market?

Sellers

There is lots of paperwork to deal with when selling a property so instructing a solicitor early on in the process can allow you to get a headstart on the Property Information forms. It will also give your solicitor plenty of time to review your Title Deeds and identify and sort out any problems that may potentially cause a problem or delay. 

You will also need to find installation certificates and guarantees for any new windows, boilers, wood burners or electrics that you may have had installed and if you have extended your property you will need to produce copies of the relevant consents. 

Ensuring that all of your paperwork is in order will allow you to progress confidently and put you in an excellent position when setting a timetable for exchange. 

It is wise to manage the expectations of your buyers as soon as you accept their offer. If the sale is dependent on you finding a new property then it is important that the agents convey this to the buyers. Choosing to sell your property and move into a rented property can really give you an edge in this market when looking for a property as you will be in an ideal position to proceed with a purchase but only do this if you can afford the rental and storage costs that this will incur. 

Buyers

In a seller’s market buyers who are in a position to proceed swiftly are valued more highly than those who cannot. In a market where multiple offers on each property are common, anything you can do to make your offer more attractive to sellers is worth doing. 

If you need a mortgage then getting an offer ‘agreed in principle’ will show the seller that, subject to valuation, you have the funds readily available.

If you can afford to sell your property and move into a rented property while house hunting you will increase your attractiveness to sellers as you are not in a chain. 

Stick to your budget. Don’t allow competition with other buyers to cause you to pay too much for a property. Remember that you should consider future costs such as energy prices and council tax when choosing your property.

It is possible to instruct a solicitor even before you have made an offer. Doing so will allow you to complete the onboarding and identification processes early thus avoiding any unnecessary delays. Providing your solicitor with money on account for searches will allow them to request them as soon as they receive draft papers. 

Choosing a solicitor and having them on ‘stand by’ so that you can get the survey that you would like organised quickly is another way of demonstrating to the seller that you are committed to purchasing their property.

If you are thinking of selling your property in Warrington then please give us a call on 01925 235 338 and we will be delighted to come round and give you a free no obligation valuation. 

If you are looking for a property to buy in Warrington then please give us a call on 01925 235 338 and we will be delighted to add you to our database of motivated buyers so that you can be one of the first people to hear of our new listings in the Warrington.