July Estate Agent Update
Lou Fletcher from Piccolo Sales and Lettings provides July’s Estate Agent Update. This month, she talks about why finding a home before you have a buyer can be a huge risk.
“If you’ve decided you want to move, you could be thinking the same as thousands of other homeowners: there’s nothing on the market, so you’ll wait to put your home up for sale until you find your next one.
“However, this is a huge risk and could mean that you will miss out on properties. If you don’t find a buyer before you start to look at houses, you’re likely to end up in one of three situations:
- You won’t be able to view because your own home isn’t on the market and there’s already a queue of able buyers lining up.
- You get a viewing but can’t compete with other buyers who are either under offer or have no home to sell.
- You somehow manage to secure a property by bidding way over anyone else’s offer, but with a strict time limit on getting your own property sold and other buyers snapping at your heels.
In all probability, the last example wouldn’t even happen right now. Most sellers won’t want to risk their move being dependent on you getting an offer, because they have so many buyers to choose from.
Added to this, unless you already have a buyer, you’ll miss out on off market homes. Not every home that sells makes it as far as the property portals or estate agents’ websites. According to research by Hamptons, there were 37,000 off-market sales in the first three months of 2022 – that’s 10% of the total market.
So who gets to find out about these homes? The buyers who are ready to go. That means those with a sale already agreed, or those with nothing to sell. But even then, how do you make sure you’re on the VIP list of people to call?
- Befriend and stay in touch with local agents in the area you want to move to.
- Have a clear list of non-negotiables (school catchment area, parking, garden size, etc).
- Show flexibility where you can – would you extend to get that fourth bedroom, or modernise a kitchen and bathroom?
Making yourself known, with a bit of charm thrown in, will keep you at the front of estate agents’ minds as their first choice to call whenever an off-market opportunity comes up.
Are you holding off making your move?
We’re right in the middle of a classic ‘chicken or egg’ situation, but when it comes to moving home, everything’s better when you’re in the strongest position.
If you’ve read this July Estate Agent Update and have questions, Piccolo Properties can help you get things right from the start. Give them a call on 01722 580059 or email at info@piccoloproperty.co.uk for a chat about your plans and how to make them happen. Alternatively visit www.piccoloproperty.co.uk.
-
Our Customers
We’ve been helping people with their mortgage and protection needs for over 15 years. Find out what our happy customers have to say about us.
More info -
Recommend Us
At Your Mortgage Expert, we believe that something good is worth sharing. So, if you’re happy with our service, why not tell a friend?
More info -
Contact Us
If you would like to speak to us about your mortgage and protection needs, please get in touch
Contact us
Our handy mortgage calculator
Our mortgage calculator can help you get a better idea of how much you can afford to borrow, and how much your mortgage will cost you in monthly repayments.
CALCULATE NOWUseful Resources
-
Legal and privacy information
Your Mortgage Expert Ltd is an appointed representative of Mortgage Advice Bureau which are authorised and regulated by the Financial Conduct Authority
-
5 Reasons to use a mortgage broker
We often get asked why use an Impartial Mortgage Broker like Your Mortgage Expert. Here’s our five top reasons.
-
5 Tips for remortgaging your property
Adam Nanson from Your Mortgage Expert shares his top five tips for remortgaging. These will help ensure you save time, money and stress.
-
5 Reasons to remortgage your home
Thinking about remortgaging but not sure whether it’s for you? Read our handy guide to find out if a remortgage is suitable for you.
Please note. While we take care in choosing local property partners to recommend to our clients, we cannot be held responsible for the service they provide.
A MORTGAGE IS A LOAN SECURED AGAINST YOUR HOME. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE OR ANY OTHER DEBT SECURED ON IT.
There may be a fee for mortgage advice. The actual amount you pay will depend upon your circumstances. The fee is up to 1% but a typical fee is 0.3% of the amount borrowed.