What should you ask on a property valuation?
We have a varied number of questions asked on our valuations - we encourage them! Here we look at the 6 most popular…
We have a varied number of questions asked on our valuations. Here we look at the 6 most popular…
1) Should I market my home before I find?
Whilst our answer can differ depending on individual circumstances, in our experience marketing your property and finding a buyer first is the right decision.
As agents we get asked this question a lot. The main fear being that people will sell their home and not be able to find something to buy and then will have wasted everyone’s time. We also hear a lot of ‘we will have no problems selling our property and I’m looking for something very specific and unique so don’t want to sell before I have found’. Believe it or not, everyone thinks the same, every home is unique and a ‘one off’ to every buyer and if everyone thought this way no home would ever come to market. Its also important to remember that an experienced estate agent manages buyer expectations in terms of a sellers position. Also remember if you don’t find a home you don’t move. No one is going to push you out of your home or make you feel that you should move.
There are also many positive financial implications of selling first. See our article ‘Should you find a buyer first or find a home first?’ for further information.
2) Is now the right time to sell?
This can mean either what time of year a seller should sell or is in relation to the condition of the housing market at that point in time.
The market conditions are changing constantly. At the time of writing (July 2023) the Bank of England base rate is at its highest for 15 years at 5%.
Interest rate rises impact mortgage rates, meaning it costs more to borrow money, which we expect to have an impact on transactional volumes and prices. We are yet to see homeowners who have been forced to sell, however if rates continue to rise, some may be forced to review the situation and weigh up their options. We expect the market to start showing signs of forced moves in the next 12 months as existing mortgage products start ending.
It is important to remember that this market condition is observed nationwide. This means that while you may need to consider accepting an offer lower than your initial expectations, you can leverage that offer to negotiate a relevant deal for your onward purchase. Should you be interested in more specific property information in your road please do not hesitate to contact the office. We are here and ready to help.
We find that traditionally our busiest periods for listings are September with clients wanting to move before Christmas and January with clients wanting to move for the summer. That being said we are listing and selling properties throughout the whole year and the timing should be what suits you the best.
3) How do you value my home?
You will want to have confidence that you are selling your property at this highest price. Our valuers will look at a number of factors:
Size of your home, condition, layout and location. We will look at comparables of properties that have sold recently that are similar to your own as well as those that are currently on the market – what will the buying public be comparing your home with?
We offer a number of different valuation methods and you should pick which one suits you. Bear in mind that a face-to-face appointment will provide the most accurate value.
Instant valuation
Whilst you can find out a value for your home almost immediately with our ‘Instant Valuation’ tool its import to remember that the tool uses computer algorithms of sales data to arrive at a value. This means it will not be the most accurate method.
Remote valuation
This is great if you haven’t got time for somebody to come and see you and will be more accurate than an instant valuation. Simply upload photographs of your property onto our system along with any relevant details. We can then review the content and provide you a more accurate valuation.
4) How much will it cost to move?
There are costs associated with selling your home and moving. These can include:
- Estate agency fees
- EPC
- Removal fees
- Conveyancing fees
- Stamp duty
- Mortgage fees
- Surveys
Conveyancing fees can vary considerably. We can provide a comprehensive, free quote on a sale and a purchase.
5) How do I know what my budget is?
Its a good idea to have an appointment with a mortgage advisor as early into your moving journey as possible. We can book one for you to follow our valuation appointment. This will give you an indication of what you can afford to buy. It will also help secure your onward purchase as any offer you make is likely to be taken more seriously. That's why we have an independent mortgage advisor in our office.
6) How do I pick an agent to sell my home?
This is one of the most important questions. Your whole moving journey will be impacted by the decision you make.
- Look for an agent that combines a strong high street and online presence
- Select an agent that has experience selling your property type in your area … ask to see prove with statistic from the portals. We would suggest using the largest property portal – Rightmove.
- Read reviews to find out what real clients are saying – we recommend google or independent review platforms. Read our reviews on ESTAS or Google.
- Look at the agents’ websites – how are their listings presented. Would you be happy?
- Review the social platforms
- Talk to and meet the team – who will you be working? Talk to them … do you believe they have the enthusiasm and knowledge to sell your home and negotiate the best price for your home?
Should you wish to discuss anything property related, our team are here and ready to help.