Action Plan - Owner Sale

Scotland
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1 Decide Upon a Time to Sell

You may, of course, be unable to pick any particular time to sell. If you have a choice, however, it is worth remembering that there are many more people looking to move in the traditionally high demand times of Spring and late Summer. The more people looking, the more your chances of finding a suitable buyer.

Though there may be some advantages to selling 'off-season'. Buyers, though fewer on the ground, tend to be more committed, and may pay a fuller price.

2 Set the Asking Price

Value your property by comparing it to the price of similar properties. Firstly visit Last Registry Online or OurProperty.co.uk to find out the actual prices paid for comparable properties in your street/area (only available if sold since April 2000). Adjust the figures to allow for moving house prices, and the individual attractions of your particular house. You can also ask for free valuations from estate agents. Or, in some circumstances, you may feel a paid valuation from a surveyor is worthwhile. Remember that estate agents may quote high in order to get a listing, then hope that if the price needs to be reduced later, you will not change agent. So treat high valuations with caution. Greed is your greatest enemy, and results in your property stagnating in the market. You must match your price against the likely demand.

A good rule of thumb may be to think of a price so low that you would consider it a 'steal', then think of a price so high that you would consider it impossible to achieve. Work out the average of the two prices, then add a margin to give you some negotiating room.

Don't forget your supermarket-style pricing either. If you value your house around the £205,000 mark, market it for £199,950 or £209,950.

Lastly remember that your house is only worth the price somebody is willing to pay for it. So the key to achieving the best price is to market your property as widely as possible (see steps 4, 5 & 6).

3 Clean & Tidy House

To achieve a good price you should make sure that you present your property in a clean and tidy state, and in good repair. If your house is dirty, untidy, sad, and in bad repair the only buyers you will attract will be bargain hunters. You should perhaps consider going to auction if you are not in a position to present your house in a reasonable state. At least you may then drum up some auction fever between the buyers.

You can, of course, completely refurbish the property to create a desirable 'lifestyle' property. This is very time consuming, requires lots of energy, and some design flare. However it can be very profitable (or costly!). Look at our books section if you want to pursue this option.

Assuming, though, that this is not your choice, you should start by ruthlessly getting rid of unwanted items. Some people go to extreme lengths to clear rubbish from their house : for example, one idea is to put absolutely everything in your house into just the one (spare) room. Then, as you need things, remove them from this room. At the end of just one month, hire a (large) skip, and throw the remaining contents of the room into the skip. Voila! Seriously though, the charity shops, car boot sales and rubbish bin are your new best friends. By eliminating clutter, any storage seems larger, and your house appears tidier (it's also easier to keep clean).

You should also tend to any minor repairs that need doing, especially if they will stand out at a viewing. Examples would be a loose stair carpet, or a missing piece of skirting board.

Next stand at your front door. Look around. Think 'kerb appeal' and remember that first impressions count. The front garden may need some attention, and the front door may need a coat of new paint.

Then make sure every room has a label - eg hall, lounge, dining room, utility room, kitchen, conservatory, study, cellar, bathroom, toilet, bedroom (not junkroom, boxroom, storeroom). Move your furniture around if necessary. Be careful with 'study's. Fine downstairs in a large house, but probably a mistake upstairs (or in a flat) - convert to a bedroom.

Finally, give the house a good clean. From now until a sale has been agreed, you should try harder to keep the house clean on a day-to-day basis. This will minimize the awful last-minute cleaning and tidying before a viewing.

4 Prepare Property Particulars & Arrange a HIP

Prepare Property Particulars

It is relatively easy to produce professional looking particulars with the aid of a word processing program and a digital camera. If you don't know how to use these, you are sure to know someone who does, and who would be happy to help you.

A suggested layout for your particulars

Arrange a HIP

Before you start actively marketing your property, you must commision or prepare a Home Information Pack. The Pack includes:
Compulsory Documents

5 Set Up Property Web Page, Order For Sale Sign & Internet Advertising

Set up your property web page at Set Up Your Web Page (Sale)This forms an important core for your web advertising. You can use the same pictures that you used for your particulars.

Order a sign (well, we would say that, wouldn't we!). But a good For Sale sign is a very effective way of advertising a private house sale. A paid advertising run in the local paper may come and go with no potential buyers. In contrast a sign gives continuous marketing for just one small sum. Various sources give different figures, but a conservative estimate would be that at least a third of all house sales are initiated by the board.

Order an advert on two of the most popular web portals, Fish4 Homes and PropertyFinder. These have have huge numbers of people viewing, and the ads are also distributed to several popular websites, local newspapers, and Interactive TV.

To order you board and Fish4 Homes/PropertyFinder advert (internet advertising) click on Order.

6 Organise weekly classified in local newspaper

Start a weekly classified ad run in your local paper (on the day with the most property ads). When writing the ad, start with the area where the property is located, as most people browse by area. Add an attention phrase, also in bold. Include some key positive phrases (see Prepare Property Particulars & Arrange a HIP). Don't forget to tell the reader that they can find picture(s) at you property web page. Your ad should follow the tried and tested AIDA system. AIDA stands for Attention, Interest, Desire and Action. Here's an example -

Attention phrases you might think about using include: Don't miss this one!, Must be seen to appreciate, Viewing recommended, Be quick, First to see will buy, Super value, Safe and secure, Interested?, Tired of looking?, Live the good life.

Also

Ask your local paper about the cost of display advertising (an ad with a picture). These can be expensive, so you should consider a run of perhaps once a fortnight.

Place a number of free adverts on the internet; www.home.co.uk, and www.loot.com (London & Manchester only) are probably the most widely used free sites.

Print and distribute flyers to the neighbourhood. Attach a copy of the particulars. Whilst this takes some time and energy, it is a very effective technique.

7 Conduct viewings

When the phone rings, and you get a request to view your property, firstly make a note of the viewer's name, address and telephone number, then arrange a time for the viewing. Be as flexible as you can with appointment times.

Ring back the day before the viewing, to confirm the time. Ringing back helps to confirm the identity of the viewer (for safety's sake), and can also save you some unnecessary tidying (in the event they have decided against the viewing). Also, do not conduct the viewing alone if possible.

Make sure your house is neat and tidy, and warm. Use your nose. Does anywhere smell stale? Fresh flowers can help. If it is dark, turn on as many lights as possible, this makes it look more homely. Do all the minor repair jobs, like fixing a loose stair carpet.

Welcome the viewer. Remember their names and use them - 'Hello, Mr & Mrs Greene'. Offer a cup of tea.

Tell them that you'll take them for a brief tour, and then you'll let look around themselves if they want to.

Point out any advantages of the particular location, ie if its convenient for the shops, train etc. If they've children in tow, mention the local schools (if they have a good reputation). You know the area, the potential buyer may not. If you live in a pleasant and quiet road, remark on the fact.

Show the best rooms first.

As you go from room to room, remark on any good points, for example nice decor, spacious, period features, pretty views. Skip over anything you consider to be a minor disadvantage.

Don't forget the garden (newly mown lawn!) and garage.

Let the viewer take their own time to look over the house again. They will appreciate the time to look and think.

Never talk about things you have not done, but would have liked to have done.

Finally reply to any questions they might have - always try to be positive, and never agree with a negative statement. As an example gently deflect the statement 'the kitchen's too small', with something like 'it's cosy and very easy to keep clean'.

Finish by reminding them that if they would like another viewing, they just have to phone.

2nd viewings are a little different from 1st viewings. This is your opportunity to make detailed enquiries about the financial resources of the potential buyer. Also check whether they are in a chain or not.

8 Negotiate price & agree sale

9 Instruct solicitor to start conveyancing

Reward Yourself

Finally, remember that the savings you have made from successfully managing your own house sale are very real, and it is a good idea to buy something to reward yourself.  Perhaps along the lines of a luxury holiday, a super television, or a new sofa.   You then see tangible evidence of your success.

Scotland

Selling a property in Scotland is not quite the same as the rest of the UK. The main difference is the popularity of the blind auction (called 'Offers Above'), a method which can, if you're lucky, produce an outrageously high bid. In the rest of the UK, this way of selling is occasionally used (and called 'sealed bids'), but, frankly, often deters rather than attracts buyers. There are some signs that Scotland is following the rest of the UK, in that selling by a set price (called 'Fixed Price') is becoming more common. Historically a 'Fixed Price' sale was a sign of distress - especially, of course, if the property had been previously offered as 'Offers Above'. But now in many areas, there is no stigma, and it may well attract buyers that want a good idea of the amount required to secure the purchase.

So these are the extra points to remember when making a selling plan (read in addition to the UK plan) -

(1) Decide upon a time to sell.

(2) Decide between 'Offers Above' or 'Fixed Price', and set an initial price. Usually you would follow the custom of your area, for your type of property.

(3) Appoint a solicitor on a conveyancing only basis (or conveyancing and purchase).

(4) Clean & Tidy House.

(5) Prepare property schedule. Points to consider

Feedback

If you have any feedback on the above information, or experiences about an owner sale, please tell us.

Disclaimer

The above is purely for guidance only. The information is given in good faith, but nothing can be relied upon as a statement of fact.