How to negotiate the best price when selling your house

View PDF | Print View
by: bythesea
Total views: 25
Word Count: 542
Date: Fri, 15 Jul 2011 Time: 3:07 AM
0 comments

When it comes time to sell your current property the key factor to get right is the asking price. It's all about striking the right balance between the amount of money you feel the house is worth and a price that will have potential buyers lining up to take the keys off you.

Most importantly, be realistic with your asking price. Many prospective buyers will tend to offer at least a little below the price that the house is listed at, so there's nothing wrong with putting your property on the market for a slightly higher price than you would secretly accept.

Don't get greedy, though: many sellers make the mistake of setting their asking price too high at the outset. If you're getting lots of viewings but no offers then you need to take a step back and ask yourself why. Clearly there's a lot of interest in your property from the details, so what could be the reason? The likelihood is that either your asking price is too high or your estate agent has marketed your house incorrectly.

When it comes to setting the asking price, it's an idea to get several valuations from different estate agents. However it's important to remember that each one will be after your business and therefore likely to suggest that your property is worth more than it perhaps is in the hope that you'll go with them.

Be honest with the person who has come to value your home; tell them that you're looking for a relatively quick sale and don't want to have to go through the hassle of putting the house on the market at a certain price only to have to lower the asking price within a couple of weeks. State clearly that you would like them to be straight with you and offer up a realistic asking price that should see buyers banging down the door.

When your house is on the market and the viewings start rolling in, make the effort to accentuate the positives of your property - and that doesn't have to be limited to the physical attributes of the building. If you're in a perfect location for commuters, for example, then be sure to play that side of things up when showing interested parties around. One good way to get viewers' attention is to mention how reasonable the ongoing costs associated with the house are - so if your house is in a low council tax band or even if the location of the property means that your home insurance premium is low, make sure your viewers are aware of it.

If you do get an offer on the property don't be pressured into accepting the first bid; even if you're desperate to sell, don't make it obvious to the buyer. Most people will put in a low offer to start with but are willing to come back with an improved bid, so don't feel bullied into accepting a price that you're not happy with just because you're keen to sell your house sooner rather than later. If a buyer is keen on your house then they'll pay a fair price, so do your best to hold out for a price that works for both parties.

About the Author

Visit www.directline.com to find out more about home insurance