If you’re selling a property, imagine that there are two (or more) people who want to buy it. Which one do you choose? Probably the one whose in the most advantageous position to proceed. Well, that’s where you need to be before you find that ideal property. To help you get there, here are some of the things you can do to greatly improve your ‘status’ and bargaining position as a prospective purchaser.
Work out the maximum price you can afford and don’t be tempted to exceed it.
Get quotes from two or three removal companies and choose one in good time so that they are ready to act quickly. Do some research on the area you’re hoping to move to. If you’re not familiar with a particular area, ask the local Estate Agents what it’s like.
IMPROVE YOUR BARGAINING POSITION
Find a solicitor so that they have all your details on file when you’re ready.
Get an ‘in principle’ mortgage offer. This can save time and improve your bargaining position.
Consider moving into rented accommodation so that you can proceed quickly when you find the right property.
WHEN YOU FIND A PROPERTY
When you find the right property, don’t look at it in isolation. It’s vital that you look at the general area as well, because you might not like what’s round the corner.
Carry out neighbourhood and environment checks to make sure you don’t discover anything nasty.
Don’t be put off if the property needs a bit of modernising or updating; this can be to your advantage because it should be reflected in a lower price. It will also give you the opportunity to stamp your individuality on the property and possibly release some potential value.
Get a professional survey. You’ll be investing many thousands of pounds, so spending a couple of hundred to make sure the house is OK is peanuts, but could save you thousands. DO NOT rely on your lender’s valuation inspection under any circumstances.
Take off the rose coloured spectacles; you’ll see more clearly without them!