Find The Right Time To Market Your London Property

market property in london

If you are a property owner in London, you may be wondering when is the best time to sell your property. Unless you have good knowledge of the property market, you may be reluctant to sell, since you want to get a good price. Or you sell at the wrong time and do not get the best price.

This article looks into how and when is the best time to sell property in London.

When Is A Good Time To Sell Property In London?

The best time depends on your own goal and other factors. If you want a quick sale, the type of property may determine when it is best to sell. For example, one and two-bed flats and terraced houses are likely to sell faster during January, February, and September and they are usually snapped up by young couples. However, larger homes tend to sell faster outside of the school holidays.

If you want to sell for the most money, be aware that the prices depend on supply and demand levels. However, historically, springtime and early summer do well in terms of prices.

Factors that may affect property prices in London are events like the pandemic, Brexit, or the holiday on Stamp Duty Land Tax, which influences potential buyers to check up property market prices and hence cause properties to fetch good prices.

Can I Sell My Property Without An Agent?

The answer is yes. It will save you some money as you will only have to pay the solicitor’s fee. However, you must be prepared to play the role of an agent yourself. If you are not experienced in selling property, the process can quickly become overwhelming. It is advisable to use an agent because they may be able to get you a better price by increasing the visibility of your property.

Another option is using online agents. You may never meet physically but you will receive updates promptly throughout the process. Other property sellers use an auction system but that too has its advantages and disadvantages.

What Is The Average Time To Sell Property In London?

The average time is 6 months, using a traditional agent. However, using an online agent or auctioning can reduce the time taken significantly.

How To Sell A Property In London

Selling a property does not need to be stressful, as long as you know the basic principles. Below is a guide you can use to achieve the best results. It is assumed you are using an agent but you can fill in for the role.

Get An Accurate Valuation

Since you want the best price for your property, it is important to get an accurate price. This is why you need to use the services of a good valuation professional who is very conversant with property prices in London. However, if you need to sell in the shortest possible time, you would have to set your price target accordingly to attract buyers.

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Get An Estate Agent And Solicitor          

The success of your property sale may depend on your choice of estate agent and solicitor. Make sure your agent has a strong high street presence and can use modern means to advertise your property, eg, online property markets. Similarly, you need to have an experienced and efficient solicitor that can handle all the legal work in a timely fashion.

Present Your Property In The Best Light

In the property business, the first impression matters a lot. This is why you need to prepare the property before taking photos for adverts. For instance, repaint walls if necessary. Repair sockets that might appear in the photos. Clean up the property and eliminate clutter by moving items to make the property presentable. Make the kitchen and bathrooms attractive as they can sell the house. Use professional photographers that will take photos that do justice to the property. The photos could mean the difference between potential buyers skipping to the next property or checking yours.

Find A Buyer

This step requires that you have maximum visibility or exposure. If you have a competent agent, your property will be listed on as many platforms as possible, eg, Zoopla, Rightmove, etc. Your property might also be advertised through email or SMS.

Viewing The Property And Receiving Offers

It is better to let your agent accompany property viewers so that he or she can use their expertise to sell your property. It is important to use an agent that is flexible and will accommodate viewings even at inconvenient times. When an interested buyer makes an offer, your agent will contact you immediately.

Offer Acceptance, Payment, And Key Handover

You may have to negotiate the price. Know your price and stick to it. When you accept an offer, your agent will prepare a memorandum of sale and your solicitor will send a draft contract to the buyer’s solicitor. A property survey will follow but there are no legal obligations until the contracts are signed. The sale reaches completion when the residual monies are transferred from the solicitor’s for the buyer to your solicitor’s account. Once you are notified of the transaction, you can then authorize your agent to release the keys to the new owner.

Conclusion

We understand, finding the right time to put your house on the market for selling can be a daunting task, especially with the ongoing pandemic and Brexit. If you too have a property that is sitting idle and you could not find a prospective and have no idea when will be the right time to sell it, get in touch with us and we will help you to sell your property. 

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