Wednesday, 22 August 2018

Expert view: Why you should go on the market before starting your property search

Expert view: Why you should go on the market before starting your property search

A POLL carried out on estate agents Romans’ website in 2017 revealed that 62 per cent of buyers would not put their home on the market until they had found one they wanted to buy.

Although popular among homeowners, this approach may mean putting yourself at a disadvantage.

Antony Gibson, managing director of residential sales at Romans in Henley, said: “By not placing your home on the market until you have found somewhere to buy, the following may apply.

“The number of homes available for sale on the market is reduced, creating the impression of a lack of supply — if you or other home hunters don’t see much for sale then you are less likely to find somewhere. When, after spending a lot of time looking, you do find somewhere, you can’t do much about it as sellers ideally want offers from buyers who are ready to purchase.

“By being sold subject to contract or, at the very least, having your own home on the market, you are much more likely to be taken seriously.

“If you wait until you find, you are more likely to be selling your own property under pressure as you’ll be looking for a quick sale which may mean you do not get the best price.

“If you are serious about moving you need to get serious and be taken seriously and there’s only one way to do this. Consider who you would choose as a buyer for your own property — would you be more likely to accept an offer from someone who has put their own home on the market, secured a buyer and started their mortgage application or someone who has not yet put their own home on the market?

“We recommend doing everything in your power to increase the chances of your offer being accepted and the best way to do this is to get your own property on the market with your sale in progress and having been pre-approved for a mortgage.”

If you are thinking of selling your home and would like to find out more, call Romans on 01344 985666.

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