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Guide for First-Time Property Sellers

Guide for First-Time Property Sellers

Selling a property for the first time? Here’s a helpful guide to help you navigate the process. A two-minute read.

Putting your property on the market can be stressful at the best of times, and even more so if you’ve never done it before. But don’t worry. With planning and preparation, you can avoid some common property pitfalls.

Let’s assume that you’ve made up your mind that it’s time to sell. Here are the next steps that you need to take.

Do your research

Look at similar properties already on the market and note their asking price and state of repair. How does your home compare? If it needs a spruce-up/declutter, make a to-do list and get started. You’d be surprised what a difference a lick of paint and a few minor tweaks can make.

Nail your admin

Go through bank statements and get a clear picture of your earnings and expenditure (no cheating), so you know what you can afford in terms of mortgage repayments. It’s also worth getting together all the paperwork for your home: deeds and details of leasehold or share of freehold arrangements (if applicable). This will speed things up further along the selling process.

Money talks

Your big move will most likely involve purchasing another property, so discuss your financing options with an independent mortgage adviser. Be aware that if you have an existing mortgage, you may get hit with an early exit fee if you sell and move mortgages to a different provider.

Choose an agent

Recommendations from family and friends can provide a useful starting point but always talk to more than one agent. We suggest you invite three agents around to value your property. Ask lots of questions and be wary of agents giving unrealistically high valuations – they’re telling you porkies to land the listing.

Also, steer clear of agents trying to lock you into an extended tie-in (some make you commit for 24 weeks and an additional 28-day notice period). If they need half a year to sell your home, they’re not very good.

Instruct a solicitor

It’s useful to have a legal eagle on board before the sales process kicks into full swing. Again, ask around for recommendations and talk to your agent, who will also have contacts. As with choosing an agent, the cheapest isn’t always the best. Go for a solicitor with a good reputation.

Get an Energy Performance Certificate (EPC)

You’ll need to get an EPC (it’s a legal requirement), and your agent will help you arrange this.

Dress your home

When it’s time for your property’s marketing photos, talk to your agent about how best to present your home. Take their suggestions on board because first impressions really do matter. 

Here at Chamberlains, we have a great sales track record. Get in touch to find out more about our winning formula. Download our first time sellers guide for more info..  

 

 

 

 

 

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Busting Landlord Myths in South Devon

landlords

Many people think that being a landlord is easy. Rent out a property, move some people in, sit back and rake in the cash… if only it was that simple.

Any experienced landlord knows that owning rental property is hard, and it can be a 24/7 job in the event of any issues. Preparing a property for rent is just the first hurdle; ensuring your tenants are safe and the property is maintained are ongoing requirements.

In this quick read, we bust some common myths about landlords and their obligations.

Landlords don’t care about safety

Wrong! It’s at the top of the list. Tenants deserve to live in homes that are safe, and a landlord has legal (and moral) duties to ensure this.

Gas safety is hugely important, and landlords throughout the UK must ensure that any gas appliances within the property are safe to use.

Tenants should be provided with a Gas Safety Certificate as soon as a tenancy starts.

Fire and carbon monoxide safety is also a legal priority for all landlords, and rental properties must be fitted with smoke alarms and carbon monoxide detectors.

Landlords pocket deposits

Historically, deposits have always been a point of contention between tenants and landlords. But these days, there are strict laws regarding tenant deposits (and landlords can wind up seriously out of pocket if they flout them). Landlords must lodge all deposits with a government-approved deposit scheme. This ensures that a deposit will be returned if the terms of the tenancy are met, if no damage is caused (beyond fair wear and tear) and if all rent and bills are paid.

Landlords disappear once tenants move in

This is a big one, especially for tenants who experience problems after they have moved into a property. That’s why it’s always important to find a rental property through an experienced letting agent.

A good landlord will ensure the property is well maintained – after all, it is their source of income. Landlords should maintain any furniture or appliances that are in the property when a tenant moves in. An inventory should be carried out at the start and end of a tenancy to ensure that both parties have information about the general condition of the property and such items. The same applies to repairs if something stops working during a tenancy.

If you’re a tenant looking for a rental or a landlord looking for a new agent, please contact us on 01626 365055.