As we hurtle through lockdown, it's fair to say that for some, dreaming about looking at four different walls might be more than just a pipe dream as the current crisis will have brought their house selling plans to a temporary halt.
Whether you are hoping to downsize or acquire some extra space, NAEA Propertymark offers advice for those looking to get their property ready to sell while they have a little more time on their hands
However, selling your home can be a lengthy process and there are plenty of things you can still be doing to get yourself ready to hit the ground running when lockdown restrictions are lifted.
Get your paperwork ready
There is a lot of work needed to get your house sale-ready and in many cases finding all the relevant paperwork can take several weeks so now is the time to begin gathering it. This also means that if something is missing, you can begin to take steps to get the replacement paperwork. During the course of your sale, you will be asked for evidence such as:
- TA6/Property information questionnaire
- A copy of the lease if the property is leasehold
- Documentation related to the freehold if you own the freehold
- FENSA certificates for replacement windows
- Your Energy Performance Certificate (EPC)
- Relevant building restrictions
- Building regulation certificate when alterations have taken place
- A Gas Safety certificate for a new boiler
It might seem like a lot but preparing all this paperwork will ensure that you can get your property transaction off the ground quickly and smoothly.
Get your finances in order
It’s a difficult time for many people financially right now, but if you’re thinking of taking out a mortgage later this year, now is the time to take a look at your finances. Make a note of your household bills and expenses and see if there is anywhere you could make savings. Work out if there’s anything you have had to do without during lockdown which you can cut out of your spending for the long term. It’s also a good idea to check everything is up to date on your credit report and see if any errors or out-of-date information have impacted your score.
Calculate the cost
With any property move, there are costs involved from removal vans to storage and depending on how much furniture and belongings you have, the costs can really vary. Usually, the biggest cost will come from hiring a removal company; however, vehicle hire, storage, pets and postal redirection can all add up. While you have the time, explore the different options out there for you to find one that best suits your budget.
Be transparent
Covenants on the deed, land boundaries on the property, potential issues with the property or surrounding area and any other information, good or bad, that you believe potential buyers should be aware of needs to be made clear. Take a look at our Property Information Questionnaire, part of the Sales Protocol Toolkit. The questionnaire includes lots of questions with all the information you will need to disclose and gather which will make this process much quicker and easier.
Spruce up your current home
First impressions count but making small tweaks to your home can make a huge difference. Use this extra time to spruce up your garden, tidy up any cupboards, declutter worktops and dig out your tools to complete those unfinished DIY projects. All of this will help when it comes to showing your house to potential buyers. You can even do virtual viewings while social distancing restrictions remain in place so don’t delay making your house look as good as it can.
Mark Hayward, Chief Executive, NAEA Propertymark comments: “While being unable to sell your house at the moment may be frustrating, there is still lots you can be doing to start the process and make sure you’re prepared for when lockdown restrictions are relaxed.
Gathering all this paperwork may seem daunting, but it will make selling your property a lot easier and help ensure a speedy process.”
