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FAQs aboutproperty marketingAllian Design - Creative marketing service for small businesses, property developers, builders and homeowners looking to sell houses. Here is a selection of questions frequently asked by our property marketing clients: |
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- What is homestaging and why is it important?
- I'm thinking of selling a property, what is the difference between a Sole Agency Agreement and a Multiple Agency Agreement?
- Do I still need to pay my estate agent if I sell my house myself
- What are HIP's and do I need a HIP to sell my house?
- What does 'leasehold' mean?
- What are the disadvantages of buying a leasehold house?
- What are the advantages of buying a leasehold house?
What is homestaging and why is it important?
Home staging is when you prepare a private home for sale on the property market and display it to its absolute best advantage.
Property staging has been popular with sellers in the USA for many years and this concept has recently grown in popularity in the Britain; with a whole host of UK home staging companies now offering this as a professional service. It is a highly recommended tool to use when considering selling your home.
The goal of staging a home for sale is to make a property appeal to the widest number of potential buyers possible. This can in turn can sell a property more swiftly and for a higher price. Home staging techniques focus on improving a property's appeal by transforming it into an attractive proposition that more buyers will want to make an offer on. Done properly, home staging raises the value of a property by reducing the appearance of the property's flaws and by leading the buyer's eye to its more attractive features. Essentially it cleans, depersonalises and declutters a property and attends to minor DIY jobs to generally improve the property's visual appeal and condition. This in turn creates the feeling of a welcoming home, where the buyer can easily imagine themselves living. Even vacant properties can benefit from home staging. By using staging furniture and props to define rooms it lets the buyer know how it would feel living in the property - a far better idea than simply leaving rooms empty and undressed. More information about staging a home for sale
I'm thinking of selling a property, what is the difference between a Sole Agency Agreement and a Multiple Agency Agreement?
A Sole Agency agreement is when a seller of a property agrees to instruct only one estate agent to sell their home. A typical agreement usually has an expiry date of between eight to 12 weeks. A Multiple Agency Agreement is when the seller appoints more than one estate agent to sell their property; usually on the understanding that either the estate agent who sells the property receives the commission, or the commission is shared between all agents within the agreement.
Using more than one estate agent will give the seller access to more than one database of potential buyers and it may give the seller greater confidence of a sale if more than one estate agency is selling their property. However if a property has more than one 'for sale' notice in the front garden, then it may appear to potential buyers that the property is difficult to sell. Additionally, the estate agents may be less focussed on selling your property if they know they are only going to have to share the sales commission, or in some cases not receive any commission if the other estate agent sells it first.
Do I still need to pay my estate agent if I sell my house myself
It depends on what contract or agreement you have in place with your estate agent - 'Sole Selling' or 'Sole Agency'.
If you have a 'Sole Selling' contract then that usually means your estate agent is the only one with the right to sell your property; even if you find a buyer yourself then you'll still have to pay the estate agent's fee. If you have a 'Sole Agency' contract then that usually means your estate agent is still the only agent with the right to sell your house, but if you find a buyer yourself you should not have to pay the estate agent's fee. Provided the buyer was not introduced to you by the agent during the term of your contract with the estate agent, then you should be able to sell the property yourself without paying the agent a fee.
Whatever agreement you have in place your estate agent should have provided you with a copy of the contract, and you should always read any agreement through thoroughly before signing.
What are HIP's and do I need a HIP to sell my house?
A HIP is a Homebuyer's Information Pack. The duty for housesellers in England and Wales to have a Homebuyer's Information Pack (HIP) was suspended from 21 May 2010. Therefore, property put on the market on or after that date nolonger requires a HIP. However, you will need to have commissioned, but not necessarily have received an Energy Performance Certificate before marketing can start.
Home Information Packs were introduced by the Government in December 2007 in an effort to help speed up the property buying process. Every home put on the market in England and Wales - no matter what size - required a Home Information Pack. The pack brought together valuable information at the start of the sales process, such as a sales statement, local searches and evidence of title. The Pack also included an Energy Performance Certificate which contained advice on how to cut CO2 emissions and fuel bills. Obtaining and providing a Homebuyer's Information Pack was the responsibility of the property seller. The Scottish version of HIPs, Home Reports, are still in force in Scotland and are required.
What does 'leasehold' mean?
When the tenure of a property is leashold, this simply means you do not own the land your property is built on. It also means you own the property for as long as is specified in the lease, and you are granted the right to live there by the freeholder. When the lease expires the property becomes the possession of the freeholder. However, as a leaseholder, you have the right to extend the lease for 90 years. You normally have the right to buy the freehold after you have owned the lease for at least two years.
The lease will usually stipulate who is responsible for maintaining and repairing various parts of the property and any conditions you must comply with as a resident. For example, the terms of your lease may specify that the exterior woodwork on your property needs to be painted every two years, or the freeholder needs to give you permission before you can build a conservatory or replace the windows.
What are the disadvantages of buying a leasehold house?
Apart from needing to ensure you comply with the terms of your lease, you will need to pay 'ground rent' to the owner of the land (the freeholder). This is usually a small amount paid each year. Mortgage lenders are very unlikely to lend money for a house that has a lease of less than 60 years. Lenders will normally require at least 20 years to be left on the lease after the end of the mortgage term. This is something that needs to be taken into consideration if you're thinking of selling a leasehold house in the future.
What are the advantages of buying a leasehold house?
The purchase price of a leashold house is usually less than that of a comparable freehold property in the same area. This can give house buyers 'on a budget' the opportunity to purchase their dream home at a low price and then save up to buy the freehold at a later date. Short lease properties are common in the most expensive parts of central London, where you can get discounts of as much as 50 per cent on the purchase price of a flat if it has fewer than 40 years to run on its lease.
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