It’s back to school time which means that it’s time to focus on the ‘Three Rs’! We all know that August is back to school month here in Scotland! With that in mind, we’ve compiled our very own Three Rs of Property. Read on to complete your education!
Do your research, whether that be researching the agent that you might choose to sell your property, the services that agent will offer you, or the area and the property that you’d like to buy.
Research is the most important part of the property process. If you’re selling, you want to make sure you know exactly what you’re getting for your money, what the agent will or will not do for you and also how much you’ll be expected to pay for the privilege. It’s also important to make sure that you feel a connection with them. They don’t need to become your best friend but you do need to feel that they have your best interests at heart and trust that enjoy speaking to them: you might be speaking to them a lot!
Likewise, buying a property and making the move to another area is a huge decision so make sure that you’ve done your research beforehand. Have a look at the area, prices and local schools that affect you. Remember, any questions that you may have can always be addressed to the agent.
Being reasonable with expectations is always difficult when buying or selling. Everyone hopes that their property is worth more than it is and also that they can buy a little bit more than they hope for. This can create a wee bit of a ‘reality gap’, as some people call it, and it can lead to a real danger of disappointment in the whole process.
Remember that, if the price of the property you are selling is going up, the chances are that the price of the one you are buying is rising too! Take expert advice from your solicitor or estate agent and remember that, if you are prepared to be flexible, you’re far more likely to get the result that you want. Whilst this doesn’t mean accepting the first offer that comes your way or agreeing to every condition of sale that the other side’s solicitor puts in front of you, it does mean that you have to be prepared to enter into negotiations. If you stand firm on every single point when you are selling and buying, you do raise the chances of losing out on your dream home over something that, when you look back at it in a few years time, you might feel wasn’t that important to you when all things are considered.
I say this from personal experience of having been that person…!
Buying and selling property can be a hugely stressful time. We often are moving home because of some other major life event that’s happening at the same time: relocation for work, getting married or moving-in with someone, expecting children or downsizing after a job move, separation or children moving-out.
After you’ve decided what you want to achieve when buying or selling, you have to trust that your appointed solicitor or estate agent has your best interests at heart: if they recommend that you consider extra marketing, tweaks to price or advert wording, it really is worth considering. Bear in mind that they really do want to get your house sold and that their reputation depends on this, so your interests are pretty-much aligned! Obviously that won’t tell you outright what to do, but they will give you the benefit of their experience and make recommendations and then leave it to you to choose. When your property is on the market or when a sale or purchase is in progress, there really is very little that you can do.
Too often there is the temptation to call your seller/buyer directly to see how things are progressing: buyers and sellers often exchange phone numbers during viewings. This can lead to a lot of miscommunication and confusion as buyers’ and sellers’ understandings of what is happening are not always totally aligned with the reality of the situation. Remember that, once an offer has been submitted, it really is best to let the experts deal with everything from here on in. It’s might be near-impossible to sit on your hands, but it’s generally for the best!
Don’t forget, if you have any questions about the selling or buying process, you can just drop us a line or give us a call and speak to our expert buying and selling negotiators or property valuers who will be delighted to help!