Digital property pack provider, Moverly, shares their top tips for selling and moving home quickly.
After a relatively quiet spring, the UK housing market is poised for a summer of heightened activity, with Bank of England data revealing that mortgage approvals on house purchases in April stood at 61,140, considerably higher than the 48,587 approvals seen a year ago.
This marks only the second month since August 2022 that approvals have exceeded 61,000, a historically reliable sign that the UK housing market is on the brink of a very busy summer.
For anyone about to sell their home, entering this busy marketplace can be daunting. However, by taking a few key steps, you can ensure a faster sale and a smoother overall experience.
Digital property pack provider, Moverly, shares their top tips for selling and moving quickly:
1. Choose the right estate agent
Selecting the right estate agent is crucial for a speedy sale. Look for an agent who knows your local market inside out, understands what buyers in your area are looking for, and has a proven track record of accurately valuing homes.
When considering potential agents, it's worth keeping in mind that those who charge unusually low fees may be less motivated to work hard to secure you the best price in a timely manner. On the flip side, agents who overvalue your home in an attempt to impress could inadvertently scare off buyers or significantly delay the sale.
The ideal agent will strike a balance, valuing your home accurately based on current market conditions, working diligently to qualify buyers, keeping a close eye on the entire chain, and gently encouraging solicitors to keep the transaction moving at a good pace. Ultimately, the right agent for you will offer a combination of competitive fees and high-quality, proactive service to help you achieve your selling goals.
2. Be prepared for potential chain scenarios
While not all property transactions are part of a chain, it's wise to be prepared for the possibility. In a chain situation, the success of your sale is linked to a number of other sales. To minimise disruption to yourself and others, ensure you're always available to answer questions, complete paperwork promptly, respond quickly to queries and have your mortgage offer ready to go.
3. Hire a good solicitor/conveyancer
Just as a good agent can make all the difference, so too can a good conveyancer. Seek out a proactive, well-organised professional who will prioritise your case and keep you informed at every stage. When choosing a conveyancer, consider both quality and cost, and don't hesitate to ask for recommendations or read reviews.
4. Be proactive
5. Be prepared
Selling a home involves a significant amount of paperwork and admin. To avoid wasting time trying to locate important information when it's requested, take some time to gather all the necessary documents in advance. Having everything ready and organised can save you a lot of stress down the line.
6. Up-front and Material Information
Being proactive and well-prepared is especially important when it comes to material and upfront information. This refers to any information that could influence a prospective buyer's decision.
Providing this information up-front, as soon as your property is on the market, is now a legal requirement and can significantly speed up the selling process by allowing legal checks to be completed earlier by proactive legal providers. When choosing an estate agent, it's highly recommended to opt for one that promotes the use of up-front material information.
7. Get 'sale ready'
Another way to speed up the sale is by getting ahead of the game and working with a legal party to request property searches as early as possible. Local Authority Searches, for example, can take weeks to complete, so it's best to issue the request as soon as you can. More and more agents and legal providers are adopting 'sale ready' approach, which means the legal process can be started sooner rather than later.
8. Be flexible and cooperative
Flexibility can be key to a fast sale. While it might not always be convenient to accommodate viewings at odd hours, being as accommodating as possible can help you find a buyer more quickly.
Moverly co-founder Ed Molyneux comments: "Moving home can take a long time for a number of reasons, many of which are largely out of the control of sellers themselves. However, by taking a few simple steps to handle your share of the responsibilities quickly and efficiently, you can avoid unnecessary roadblocks and delays.
"Ultimately, the most impactful thing a seller can do is hire professionals who know the process inside out, know how to attract quality buyers and know how to avoid the typical pitfalls and traffic jams that so often cause the journey to take much longer than necessary.
"Services like those offered by Moverly can vastly reduce the chance of your sale falling through and help to avoid delays in the process."