EMPTY PROPERTY SALES

How Harrisons Empty Property Solutions Can help sell your empty property

Selling a property at the best of times is not straight forward,  it can be stressful and in some instances require investment in advance to generate a return.

Add in to the mix that the property is empty,  perhaps in a state of disrepair and that the owner may not be in a financial position to, clear the property or bring the property up to an appropriate standard the challenge is even harder!

How Can Harrisons Empty Property Solutions  help?

Step 1: Preparing your property 

Before  you  put  your  property  on  the  market  you  need  to  prepare  it  so  that  it  realises its maximum potential price. The property must be ready for people to look around it once it is on the market. 

A  few  simple  improvements  to  your  property  could  help  you  to  sell  it  more  quickly and even increase its value.

Working with our specialist partners we are able to provide Property Clearance, maintenance, decoration and garden clearance services. Many of our partners will discuss deferring payment until the property is sold to help take the financial strain and enable the sale to progress.

Step 2: Getting your property valued

There are 3 ways of getting your property valued: 

1.  By  a  professional:  A  property  surveyor  can  professionally  value  your  property.  This  is  likely  to  provide  the  most  accurate  valuation  of  a  property. 

2.  By an estate agent: Estate agents value a property based on the price that  properties  of  a  similar  size  and  type  are  selling  for  in  the  same  area.  They  will  then  set  an  estimated  asking  price.  The  selling  prices  achieved  by  comparable  properties  in your  local  area  will  affect  the  value  of  your  property.  Estate  agents  are  able  to  monitor  changes  in  the  property  market  and adjust  the  asking  price  accordingly  to  ensure  that the property will sell. 

3.   By  estimating  the  value  yourself:  You  could  do  your  research  and  value your property yourself. Find out what similar properties have sold for  recently  in  your  local  area.  You  can  also  look  through  local  newspapers and on the Internet to find

out what price similar properties have  sold  for.  This  will  give  you  an  idea  of  the  value  of  your  property. 

However, there is a risk that you may get it wrong, which may affect the sale of your property. 

STUMBLE Property facilitate accurate valuations for your property from multiple sources to ensure the correct valuation.  Estate agents are likely to value on 'trends' in the area and previous sales. Dependant on condition this is likely to not apply to your property and over valuing a property can lead to delays and problems selling.

Step 3: Putting your property on the market

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    Using an Estate Agent 

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    Advertising the property yourself 

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    Selling at Auction

1.  USING AN ESTATE AGENT 

Using an estate agent to sell your property makes the process easier as they will arrange many things for you.  However, An estate agent will: 

Most estate agents charge between 1% and 3% commission on the sale price of  the  property  for  their  services.  VAT  is  charged  on  top  of  the  commission  percentage. Some agents charge a flat fee instead of commission. However, you have to pay this fee whether they sell your property or not. 

At Harrisons Empty Property Solutions  our estate agent partners often operate on a ZERO PERCENT Sellers fees,  ensuring that the buyer pays their fee and maximising your return.  Our agents are also specialists in selling empty property and in 90% of cases avoid needing to go to auction. 

The estate agent does not carry out the legal side of the selling process; you will still need to employ a legal professional to carry out the legal process for you.  Our exclusive panel of SRA regulated solicitors are on hand to assist with all conveyancing needs and will often work on a success fee arrangement.

2.  ADVERTISE THE PROPERTY YOURSELF 

Selling  your  property  without  using  an  estate  agent is  a  cheaper  option,  although  it  does  require  more  of  your  time.  You  will  save  money  on  estate  agency fees, although you will still need to employ a solicitor to take over the legal process of the sale. Potential buyers will contact you directly to arrange viewings and make offers so  you  must  have  the  time  available  to  show  people  around  the  house  yourself. 

To  effectively  market  and  sell  your  own  home  in  this  way  you  need  to  be  motivated  and  well  organised.  To  increase  your  chances  of  selling  your  property.

Harrisons Empty Property Solutions fully manage your sale, meaning we take the stress and strain whilst you continue with your other priorities and await a successful sale.

3.  SELLING AT AUCTION 

If you sell your property at auction it may sell for more or less than what you expect. However, you can set a ‘reserve price’, which means that the property cannot be sold for less than this price. You agree on the minimum price with the auctioneer before the auction.

STUMBLE Property partner with auction houses nationwide and have negotiated agreements in place for ZERO Percent Seller fees, the buyer will pay all the fees and increase your return.  This can only be done by instructing our partner agents.

Step 4: Showing the property 

Once  you  have  put  your  property  on  the  market  potential  buyers  will  start  to  arrange  viewings  with  the  estate  agent When showing your property to potential buyers show it off  and  also  be  positive  about  the  house  and  the  area.  First  impressions  are  very important. 

Harrisons Empty Property Solutions will often arrange an "Open House Day"  where all viewings will be arranged on the same day enabling us to show the house at its best, before each viewing: 

• Make sure the whole house is clean and tidy 

• Open the windows to get rid of lingering smells 

• Put the heating on to make the house feel warm and inviting 

• Let the viewers into the room first and give them space to have a good look around on their own. 

However,  buyers  and  developers  who  visit  properties  that  have  knowingly  been empty for some time will not be expecting the property to be warm and inviting and in the same condition as a lived in home.

Step 5: Negotiating and accepting an offer 

At Harrisons Empty Property Solutions we will ensure we maximise offers through available sales methods and If you sell your property through our agents, we will negotiate with the potential buyer to try to get the best possible price for your property.

An  offer  is  a  sales  contract  so  look  at it  carefully  before  you  accept  it.  Once  you  have  accepted  an  offer,  it  is  not  illegal  to  accept  a  higher  offer  from  someone else.

Step 6: Conveyancing 

‘Conveyancing’ is the legal process of the sale of the property. We advise you to employ a legal professional to carry out this process, as discussed above. 

Harrisons Empty Property Solutions can connect you with one of our specialist SRA Regulated Solicitor panel. 

The  Conveyancer  or  Solicitor  will  prepare  a  draft  contract.  When  you  are  satisfied  with  all  matters  in  the  contract,  you  sign  it.  The  draft  contract  and  proof of your ownership of the property will be given to the buyer. If the buyer is satisfied with the contract,

the contracts are exchanged. 

You and the buyer are then legally bound to the sale. If you decide to pull out you will be liable for expenses and penalties. No changes can be made to the conditions  of  the  sale  once  the  contracts  have  been  exchanged  unless  both  the buyer and the seller agree. 

Step 7: Completing the Sale 

Once the contracts have been exchanged a completion date will be set. This is  the  date  when  the  sale  of the property is finalised and the buyer becomes the legal owner of your property. 

You then agree a moving date with the buyer. You must arrange to hand over the  keys  and  leave  the  house  empty  by  completion  day.  The  solicitor  will  collect  all  monies,  transfer  the  deed,  pay  the  closing  fees  and  discharge  the  mortgage if applicable. 

The sale is completed!

CALL OUR EXPERT TEAM TODAY! 01923 943499 or EMAIL info@harrisons-emptyproperty.co.uk