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Looking for a January Sale?

Friday, December 15, 2017

If you’re thinking of selling or letting your home, here’s some advice on how to secure a January sale or let. The single most important thing you can do to get ahead is to talk to your estate agent before Christmas so that your property is marketed before the traditional flurry of activity begins in January. There’s a long list of motivated buyers and tenants looking over the festive period, eager to move in the New Year. Last year on Christmas Day, Rightmove received over 1.5m* visits to their site and almost 2.5m* visits on New Year’s Day, so now’s the time to get ready for a January sale or let. This quick and simple summary shows you how to make the process less stressful.

Firstly, whether selling or letting, you’ll need an accurate market appraisal taking into account current local property market conditions, key local factors such as parking, amenities and transport links and any likely changes to these. Seek advice about the competition and which sector you’ll be targeting, whether it’s young professionals, growing families or a retired couple. In short, consult a genuine local expert with experience of the property market in your area.

It’s a good idea to appoint an agent you can really trust to market your property. An NAEA or ARLA Propertymark agent will prepare property particulars with quality photographs and floorplans. Consider what fixtures and fittings you want to include and assemble useful about your property such as gas and electrical certificate checks, building regulations certificates, council tax, utility, buildings and contents insurance bills and service charges and ground rent bills for flats. Deciding to sell or let your home may be the biggest one you will ever make. By using the services of professionals with expert knowledge and legal protection, you minimise the risks involved, potentially saving a great deal of time and money.

If you’re selling, you’ll need to instruct a solicitor for conveyancing and to guide you through exchange of contracts and completion. Once you have appointed a conveyancer, you will need to provide some basic information such as your mortgage roll number, and proof that you own the property. You may have to answer detailed questions about your property, its boundaries and any outstanding issues. It is now a legal requirement for vendors to provide a valid Energy Performance Certificate (EPC) for their property before it can be sold. The EPC is made available free of charge to any prospective buyer. Your appointed agent should be able to arrange this as an integral part of marketing your property.

New EPC legislation from 1st April 2018 means that landlords of domestic private properties will not be permitted to grant a new tenancy if their property has an EPC (Energy Performance Certificate) rating of band F or G. And it’s not just EPCs. Landlords’ responsibilities can be overwhelming but if you appoint a licensed ARLA letting agent you will have trained agents to keep you informed of your legal obligations. The detailed Lettings guide on our website provides valuable information on everything from EPCs to landlords' responsibilities and how we make the letting process easier.

Once you know the current market value of your home you can assess your monthly finances and work out what you can afford to buy. If you require finance to be put in place, seek independent mortgage advice for suitable financial products that are currently available and also an idea of what the implications would be of any interest rate rises. It's also a good idea to calculate all of the costs involved in buying, selling and moving house and to factor these into your financial equations. These range from mortgage arrangement fees to stamp duty and furniture removal costs.If you’re letting for the first time there will be tax implications to consider so seek advice.

The financial and legal aspects of moving have become increasingly complex in recent years. There’s a lot to consider and arrange so if you’re looking to sell or let in January, it’s a good idea to start the ball rolling now. We can put you in contact with trusted financial advisers and solicitors and offer detailed advice whenever you need it. For a FREE, no obligation market appraisal and advice on where to start just call your local Frost office. Or consult our Selling and Letting guides for more information.

* Source: Google Analytics December 2017 Please note you should seek appropriate independent mortgage advice from a qualified professional before making an offer to purchase a property. Interest rates may change over time and even if you select a fixed rate, the rate may be fixed only for a limited period. Many lenders charge fees in connection with arranging a mortgage which may be added to the loan increasing the amount you owe and must pay interest upon. Your home may be repossessed if you do not keep up mortgage repayments.