If you have already been through the house selling process, you will have no doubt heard or read countless dos and don’ts.
Even if you have never sold a property before, the chances are you will have been treated to a variety of different tales around how best to deal with the process.
Advice can come from all quarters, and often with the best of intentions.
Family, friends and colleagues will be more than happy to offer guidance, but with the potential for so much conflicting information out there, sellers can sometimes be left wondering what to do for the best.
There’s no substitute for seeking advice from genuine property experts; professionals who have spent years working within the industry.
The Hull Cash Buyers team has property experience in abundance, and so that’s why we decided to bust a few of the property selling myths and misconceptions.
Enjoy our top 5 property selling myths
1.You shouldn’t accept the first offer
If you’re selling on the open market then the first week should be when you get the most attention. So if you get an offer that you’re happy with, then there’s nothing to say that waiting a few more weeks will deliver anything better. We fully understand the temptation in holding out. After all, if you’ve had an offer in the first few days then surely there’s going to be an avalanche of buyers banging down your door. Unfortunately, there’s no guarantee that will be the case. In fact, the longer a house is on the market, the more likely people will ask what’s wrong with it, and want to negotiate in their favour. Even if you don’t want to accept that first offer, there’s no harm in going back to a prospective buyer with a counter proposal. Regardless of when an offer comes in, if you believe it to be fair then it’s probably best to accept.
2. You’ll get a return on your renovations
How many times have you heard somebody mention the value of their house, and follow it up with, “And we’ve just re-modelled the kitchen so that will add on quite a bit to the value”? Just because you spend £5,000 re-doing your kitchen, doesn’t mean that you’ll get £10,000 back when you sell, no matter how nice it looks. Not everyone will share your tastes, so think carefully about the areas that you want to tackle, and focus on function rather than fashion (like fixing broken door handles over painting the bathroom walls green). A large number of buyers actually prefer moving into a blank canvas; a house they can stamp their own style on. That’s not to say renovations aren’t a good thing. Just don’t always assume they are going to result in bigger returns.
3. Go with the estate agent that values your home highest
Estate agents are commission led (well at least the good ones), so it’s mutually beneficial for them to sell your home for as much as possible. But — selling your home and valuing your home are two completely different things. So watch out for estate agents with unrealistic valuations just to list your property on their books, the likelihood is that it’ll actually never sell and you’ll be forced to reduce months down the line to get any traction. Research is key when it comes to choosing an estate agent. Ask people you know who have recently sold a house what their experience was like. Read as many real customer reviews as possible. Also, while it may be tempting to cut costs and go with an estate agent who offers the lowest commission, this is rarely the best move. Selling a house can be a stressful time. You want a good estate agent who offers a superb service, even if it may cost a little more.
4. Only sell in spring
‘When’s the best time to sell a house’ is a loaded question without a straight-forward response. Traditionally, spring has been the best time to sell with warmer weather and blossoming gardens, while summer and Christmas are earmarked as poorer times with respective holiday excitement taking precedence. But — that was before Brexit, before covid, and when times were somewhat more predictable. Don’t be fooled into thinking house hunters go into hibernation during winter months, waiting for spring’s longer days before scouring the market for properties. There will always be demand for houses, no matter the time of year. And for that reason alone, the month or season should never be a determining factor in when you decide to list your property.
The best time to sell is when it’s right for you. Price your home realistically and there will always be interest.
5. Guaranteed sales are impossible
Quite simply, this is just not true. Property cash buying companies offer a guaranteed way to sell your home quickly. They’ll make a cash offer on any property no matter what state of disrepair, cover your legal fees (usually), exchange within seven days, and offer a fair price for your home. This is a fantastic option for people who need to sell their house swiftly, and who do not wish to go through the stress of dealing with estate agents, property chains, house viewings and everything else. The absence of the fees and costs generally associated with selling also means sellers often end up with a figure that is not too far below the ‘open market value’. Always ensure the company you are using is genuine. Are they registered with Companies House? Is there a complaints process? Do they have immediate access to funds? Look for customers reviews, and be sure to do your research.
Can you sell your home fast for cash?
Selling your house the traditional way often takes months and involves numerous hurdles. Fortunately, there are companies who will happily buy a property straight away, regardless of condition, for cash. These cash buyers will generally offer a free, no obligation consolation, and more often than not will have an offer ready for you within hours. If you are happy with the quote, they will then look to complete in a matter of days.
I urgently need to sell my house, where do I start?
Speak to the team at Hull Cash Buyers. We offer decades of combined experience in all things property, but more than that we’re a friendly, trustworthy face in an industry that can sometimes appear a little daunting for sellers, especially those who need a quick sale. We make an offer within an hour of every property we see, no matter what condition it’s in.