2 August 2012: Top tips to sell (and buy) your home, no. 2

Last week we looked at the importance of choosing a good estate agent when selling your home.  This week we look at how a seller can use a survey to improve the saleability and the price achieved for their home.

Many sales fall-through, or prices are re-negotiated, because of things that come to light about the property being sold.  This is often when the purchaser has a survey carried out.  The seller can reduce the chance of this happening by having a survey carried out on their own property, find out what the purchaser’s survey would discover, and either rectify the issue or get quotes so that the purchaser knows what they are buying.

Now you may think, why should I tell my purchaser what’s wrong with the property?  Well, several reasons:

  1. Many purchaser’s surveys will result in a long list of items that need investigating or repair.  Most of the items are likely to be minor, but the number of ‘defects’ can be very off-putting, and can lead to the sale falling through.  If the seller puts right a few minor items, the number of ‘defects’ very quickly looks more manageable.
  2. Buying a home is an exciting time, but can also be pretty daunting.  If you’re willing to show the survey to your purchaser, this will give them much more confidence to make a good offer.
  3. Purchasers (and surveyors!) nearly always over-estimate how much something will cost to rectify.  By getting quotes for repairs, you can be open about these items up front, so you won’t need to re-negotiate several weeks down the line, and put the whole sale at risk.
  4. If you decide to rectify some of the ‘defects’, the surveyor can amend the survey report as necessary, so that you can present a clean bill of health to the purchaser.
  5. The sale is much more likely to proceed quickly, which, as I emphasised last week, is key to getting the sale through to exchange.

Next week I look at seller’s surveys.

For free advice and information please click on the links or contact us on 01202 237377 or info@sutherlandsurveyors.co.uk.

 

Daniel Sutherland