It’s a buyers market in the property stakes, with the latest figures from HMRC showing that just 66,000 properties were sold in April, down 6,000 from a year ago.
For sellers, you’d be well advised to hang on to your property – no one likes selling during a downturn, either at a loss or a huge discount. But this can’t be an option for everyone, so you’ll just have to make the best of a bad situation. Here’s what you should do.
Firstly, make sure the estate agent is fighting your corner. Arrange for a weekly chat with the estate agent about how the sale is going, find out all the feedback from viewers, and don’t be afraid to challenge your agent with questions about whether your agent has put the property in enough - or the right - publications.
Obviously, you need to make sure your property looks as saleable as possible. That means doing the outstanding DIY, but it also means having answers for all the questions you think would be asked by potential buyers.
You also need to make sure it is priced correctly. If you want a quick sale then your property needs to be priced at the cheaper end of the spectrum. Check out similar properties in the area and see how much they are selling for. If it’s for less then get on the blower to your estate agent. Because who’s going to want to take a bit at your property if similar ones are being sold for less down the road?