Tips for Sellers
In order to protect themselves, make sure they get a fair deal and ensure that a quick house sale goes smoothly, sellers should do the following:
- Research their property’s market value by using sites such as Zoopla and MousePrice, and by asking estate agents for their valuations. By comparing these figures they should get a realistic idea of what their property is worth.
- Provide accurate information about the property from the beginning so as to avoid potential delays or price reductions further on in the process.
- Ask questions about the initial offer to establish how reliable it is, such as what factors might cause it to be reduced and when will the final offer be confirmed.
- Look at what else the provider can offer in terms of speed and a guaranteed sale. Avoid making a decision solely on the initial offer price.
- Avoid fully committing to the sale until surveys and legal checks have been done, they have received a final offer in writing and have sought independent legal advice.
- Take time and ask questions. If the provider reduces the offer price, sellers should always ask for the reasons why. They should make sure they have enough information to make an informed decision, having reviewed all the options and considered alternatives. Sometimes it can be better to withdraw from a sale rather than accept a last minute very reduced price.
- Confirm what all the costs will be in advance, including solicitor fees and survey fees. Find out how much they will have to pay if the sale does not complete.
- Read any agreement carefully before signing so they are clear what they are agreeing to and aware of any exclusivity clauses or other restrictions. It can be sensible to compare the fees, lock-ins and other clauses from different providers before signing, bearing in mind the implications both if the sale completes or if they choose to withdraw.
- Avoid being pressured into making a rushed decision. Sellers should take time to review their options and remember they have the right to use their own solicitor.
- If necessary, complain to the provider, or if appropriate, to a third party.