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Featured, Property and Environment

5 Money Saving Tips When Selling Your Home

Your home is undoubtedly the most valuable asset for the vast majority of us and selling it will cost millions. Using the money saving tips in this article should reduce the cost of moving home.

Estate Agent fees vary, so shopping around and don’t forget to check around and pay one off against the other. You should aim for 5 to 10% commission, also push then to limit the tie-in period to no more than 6 weeks, this gives then enough time to sell the house, but if they can’t you can move to another agent without going “multi-agent” which will increase the fee. Ensure you get a fair valuation, never tell an estate agent what other agencies have valued your house at. They will use this to manipulate its offer, often resulting in wide distortions.

It is false economy to go for the cheapest solicitors, so get recommendations from all the estate agents you speak to and remember to ask for the name of specific people, rather than just the legal firms. Give them a call and ask what their charges are, also note whether they are they friendly, helpful, and most important efficient? Fees are negotiable so negotiate! Play off each one against the other to get yourself the best service at the best price.

Selling you house privately can save you millions of naira. One in twenty vendors are now taking the DIY route which could save you millions. That is a massive money saving tip, but there are a couple of downsides, basically “time and effort”. You could consider newspaper advertising, flyers and signs. Newspapers usually charge per line or per word so try to keep your advert as brief as possible without making it uninteresting. The simplest way would to sell your house yourself is to use one of the many online house selling service.

Obviously it is best to sell your house when the market is strong and demand is high, so keep an eye on the local property market. Generally, the market tends to be stronger between June and August than the rest of the year, so aim to sell your house then. Also avoid completing with your neighbours so if there are already a few “For Sale” signs on your street, it might be better to wait a bit.

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Research has shown that a poor presented house can take longer to sell and may reduce the price by thousands. So get your painter  and finish all of those DIY jobs which are outstanding. Also talk to the estate agent about adding value to your property, it maybe worth spending a bit of cash to make some more profits. However, be careful not to over spend, you might not get your money back, so talk through all planned improvements through with your estate agent.

If you are determined to save money when selling your home, do some more research, as they say knowledge is power.

Source: Boctrustng

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