Historically London has always been a seller’s market, prices generally continue to rise year on year ensuring most home owners generate excellent capital growth when they decide to sell their property.
However, with literally tens of thousands of houses up for sale each week, it is imperative to make your property stand out, especially if you want to sell quickly for the optimum price. If you’re looking to sell your home in London here is some useful information to guide you through the process and ensure that you enjoy a good return from your sale.
It’s a legal requirement to provide an Energy Performance Certificate [EPC] when you sell your property. This document details the average cost for hot water, heating and lighting, plus assesses your property’s energy efficiency rating. It needs to be carried out by a certified assessor contact a member of our sales team for further advice.
You’ll also need to work with a solicitor or conveyancer, who will take charge of all the legal aspects of the sale. Solicitor’s fees for property sales are generally cheaper than for purchases and are usually set according to the price band your property comes under. Expect to pay around £1,000. Contact a member of our sales team for further advice.
These are the fees we will charge for selling your property. Contact us direct to get an idea of how these will work for your property.
Wherever possible, provide us with useful documents about your property, such as electrical and gas certificate checks. Any further facts that you can provide, like council tax band information or insurance costs for buildings and contents, will also be useful as many buyers like to have access to this information before purchasing.
Likewise, if you’ve had any work done on the house, such as an extension or significant renovation remember to provide us with the building regulations certification to prove that the work was carried out in compliance with the law.
Although the property market is buoyant in London, it can be competitive so it’s vital to ensure your house stands out from the rest. London properties can sell in as little as 4 weeks on average so to make sure your house also sells quickly, consider making the following improvements:
- Declutter. Clear your home as much as possible by storing belongings in the attic or in cupboards or if you have several bulky items putting them into temporary storage or even selling what’s unneeded.
- Repaint. Fresh paint instantly brightens your room, remember to paint skirting boards and ceilings too if they’re looking scuffed or in need of freshening up.
- Fix Damp. If your property suffers from damp try to resolve the problem before putting the property onto the market.
- Clean The Windows. Properties generally sell better when they look lighter and brighter, by cleaning the windows this will instantly allow more light into your property.
- Fix Leaks. If you have a leaky pipe repair it before putting your property on for sale. The smell of damp is likely to deter buyers.
- Tidy Up Your Garden. If you are fortunate enough to have outdoor space, make sure it looks presentable. Gardens are highly valued in London and attractive outside areas will increase the value of your property.
In order to get the best possible price for your property, it’s important to know your target audience and how to tailor your house to appeal to them.
As with lots of central London properties there is a distinct possibility that your home may be of interest to foreign investors, particularly if it’s a sizeable property in a desirable location. Since 2012 as many as 85% of London property purchases were made using overseas money with the trend continuing.
Likewise, properties near transport links [e.g. an underground, crossrail or overground station] are incredibly popular with commuters, particularly young professionals. As a result, you may want to present your property in a way that appeals to trendy urbanites or conversely you might want to target the buy-to-let market instead and appeal to prospective landlords. If your property is near a good school this means it’s likely to be attractive to families, especially if you’ve got three or more bedrooms and outdoor space.
As with any property sale in the UK, selling your London property will incur a variety of fees. It’s important to ascertain the costs before you put your property on the market to ensure you make a good enough return after selling.
- Selling Fees. These are the fees we will charge for selling your property. Contact us direct to get an idea of how these will work for your property.
- Solicitor’s Fees. You’ll also need to work with a solicitor or conveyancer, who will take charge of all the legal aspects of the sale. Solicitor’s fees for property sales are generally cheaper than for purchases and are usually set according to the price band your property comes under. Expect to pay around £1,000.
- EPCs. It’s a legal requirement to provide an Energy Performance Certificate [EPC] when you sell your home. This document details average costs for hot water, heating and lighting, plus assesses your property’s energy efficiency. It needs to be carried out by a certified assessor - Contact a member of our sales team for further advice.
Firstly it’s important to get an accurate idea of what your property is worth in today’s market. A number of factors will affect the value of your house, including:
- Condition / décor
- Number of bedrooms
- Room configuration
- Parking / garage
- Outdoor space
- Proximity to schools, transport links etc.
Demand will also play a role in determining the value of your property. For example if you are selling an attractive period property in a location where original features are scarce, this may push the price of your house up. Likewise, if the area is being regenerated or improved in any way this will also affect the value.
For a free no-obligation valuation please click here.