Residential FAQ’s

Is it a good time to sell property when interest rates are low?

Now is the best time to sell your property because in the recent years, we have seen a significant increase in demand for housing. The number of people owning property has been continuously increasing and this is thanks to factors such as low interest rates, economic stability and improved living standards. With such factors in play, it’s no wonder why there’s high demand for housing.

The current property market that is shifting in favour of sellers is not just because people are feeling more confident about the economy, but also due to the changes in property legislation. A lot of people think that now is a good time to sell your property and get out if you want to make money. The reality is, it’s usually better for sellers than buyers at this point.

When Is The Best Time to Sell Your Home?

The best time to sell your home is when the market is at its peak. This will allow you to maximize your profit. When you are able to sell your house easily, it means that you are able to take advantage of the buyer’s interest in this particular property. Another thing that helps with selling property is to have an experienced estate agent who understands the market and what buyers are looking for. And, of course, with the support of the right legal team.

Why is It A Good Time to Sell Your Home?

It’s a good time to sell your property. Interest rates are low, home prices are low, and the economy is getting stronger. Many people find it difficult to sell their homes because they don’t know when is a good time to do so. There isn’t a single answer for this question because it depends on the type of property and the current market conditions.

The home market is showing signs of a slow and steady recovery. The interest rates are low and the market is stable. With all of these factors in place, it’s a good time to sell your home. Although there is no way to tell what the future holds for the housing market, if you’re considering selling your house, now is a great time to do so as there’s good opportunity for buyers and sellers alike!

Things that Make Selling Your House Easier - How can you reduce your selling cost?

No one would like to sell their property in a difficult situation. Here are some important things that you should know for selling your house in the easiest way possible.

1) Have an Agent: Agents help in making the transaction more successful by taking care of all the legal aspects. They will find out what your home is worth, draw up contracts, review offers, provide advice on staging and much more.

2) Hire a Lawyer: Your legal team will take charge of selling your home to make it easier for you. They will support you through the process and make sure that your financial decisions, mortgage interest rates, and closing costs are all managed properly.

How much Should I Expect if I'm Selling My Property at the Right Time

There are many factors that need to be considered when you are planning to sell your home. This will largely depend on the current market conditions and what sort of features you have for sale.

There are various factors that play into determining the sale price for a property; location, size, and condition all impact this figure. Different locations will naturally cost more or less than one another to build or renovate depending on their level of demand. There’s also pricing that depends on whether the current owner is willing to sell or not because they believe it will increase in value over time; this is called “enticing” your next buyer with a great offer.

However, due to the current interest rates and market, it’s a great time to sell and maximise on your potential.

How Do You Sell Your House Without an Estate Agent in The UK

Selling your house by yourself can seem like a pretty difficult task. This is why most people just decide to farm it out to estate agents in the hopes that they’ll handle all the inconveniences and challenges that often arises with preparing and selling a home.

Unfortunately, the fees and commissions that these people typically charge can be a lot. In the UK, estate agents charge anywhere from 0.75% to 3% commissions, in addition to a one-time fee of between £300 and £1500. Fees like this can be quite discouraging for homeowners who want to sell.

While there are clearly some benefits of having an agent market your property, the reality is you can actually do it yourself if you want.

Start With a Property Valuation

An easy way to determine the going rate for your type of property is to check online listings of properties that are similar to yours in similar neighbourhoods. This is the easiest way to determine what price to set for your house if you’re not talking to an agent about listing your house.

If you want to be absolutely sure of your price, look for vacant listings near you and attend their house showings. This will help you see and ask agents questions about the price. If you want, you can negotiate with them to see what their absolute lowest price is.

The idea of price shopping is to give you an idea of what to expect from the property valuation process. Then, get an official valuation done on the property. This can be done by seeing if estate agents are willing to value your property without any commitment.

Take Great Pictures of the Property

Once you have an idea of how much your property sells for in the market, it’s time to stage the house and take excellent pictures that you’ll use to showcase the property.

While you could just hire any photographer or take the pictures yourself, it’s often best to have a photographer with real estate photography experience. They know how to take the best pictures. And while you’re at it, have the home staged, so potential buyers can see what the home looks like when it’s occupied.

List the Property for Free

Look for “for sale by owner” websites like Property Sell, House Ladder, and The House Shop, where you can list your house for free. Remember that when you opted to do it yourself, you basically decided to forgo the estate agent’s marketing abilities. But, with a bit of creativity, you can also do a great job of listing the home.

Write a very descriptive listing and upload the pictures on one website. Then, do so across multiple listing services. Also, look for local boards and post the listings there. You can also promote the house on social media and in local newspapers.

Draw Up Sales Agreements

The best way to do this is by engaging the services of an experienced property solicitor, who will help draw up airtight property sales agreements so that there are no loopholes that the buyer can exploit if they choose to.

Here at Toomey Legal, our experienced team of property solicitors can make the entire process smooth and painless. We’ll also provide legal advice where necessary, so you can have a good experience.

Contact Toomey Legal today. Call 0191 605 3710 or email enquiries@toomeylegal.co.uk for a free no-obligation consult.

What is Enfranchisement?

Enfranchisement is the word used to describe both buying your freehold to your house as well as extending the length of the term of your lease to your home. Whilst the procedures are set out by the same Act of Parliament, the extending of a lease is much more complicated.

See our attached knowhow sheet for the procedure for buying your freehold. We charge £450 plus vat if we are able to agree terms informally. However if we need to serve statutory notices and follow the formal procedure we offer a fixed all inclusive fee of £995. This includes all vat and all disbursements.

If you have a lease and need to extend its terms please give us a call to discuss the procedure. Our fees start from £2,450 plus vat.