The property market is thriving, however, with current restrictions, buyers and sellers are experiencing delays to reach exchange and completion.
While the property market is increasingly busy, and a record number of sales are agreed, with some delays in the local searches and mortgage applications, families are finding that reaching exchange and completion isn’t as simple and quick as it used to be. Some sales are taking 40% longer which, if you’re not already on the market, could take you precariously close to the deadline for the Stamp Duty Holiday.
When selling your home, you will need to book a FREE no-obligation valuation. Our team are local property market experts and will give you a valuation based on facts including the initial asking price. We get to this price using comparables, and as such, as has been recorded, sellers are twice as likely to find a buyer in a timely fashion if they take our advice on the initial asking price than if they come to the market priced too high and have to reduce their price.
Once the price has been confirmed, if everything is in order, you will need the right day (ideally a sunny one) for professional photos. Once these are taken, we can get your property on all the portals and send you the link to your own personalised website which you can share on social media with friends and family. Now would also be the perfect time to instruct your solicitors.
Then the viewings will commence. To make the most of our marketing, especially at this time of year, you will want viewings to happen during daylight hours. If you are at work, you could leave us a key so we have easy access to the property. Remember, there are lots of buyers out there at the moment viewing multiple properties. The more properties that offer easy access, the more viewings there will be on that property.
After a number of viewings, the offers should start to arrive. Our expert team will negotiate on your behalf and keep you up to date at all times. Our job is to safeguard you and find the best buyer. We do this by doing our due diligence on their finances as well as their choice of solicitors for conveyancing.
Once an offer is accepted, your buyer will need to confirm the details of their solicitors to us so we can get the sales process up and running. Any delays such as a request for ID can put the sale a week behind. Likewise for other paperwork. Next is the wait for the call for access for the mortgage provider to carry out their survey and their own valuation.
With a record number of sales agreed, and with lockdown restrictions still in place, mortgage surveys are taking longer than ever to get booked in and come through. Again adding another potential delay to your sale. The number of cases being worked on for conveyancers has doubled, which means a sale that would usually take 12-weeks, is taking over 16-weeks.
However, this does still give you time to get a sale through before the Stamp Duty Holiday ends, as long as you are quick and come to the market within the next month. Unfortunately, as with most things in life, and great deals such as the Stamp Duty Holiday, the deadline is now upon us.
With this in mind, to take advantage of the Stamp Duty Holiday, which is due to expire on the 31st of March, now is the time to come to the market…
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