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Selling Property
(Source: The
Move Channel.com © Copyright, On The Move
Limited, 2000 - 2005)
People decide to sell for a wide
variety of reasons. It could be a work- related move, expansion to make
space for new arrivals, or less need for space due to a reduction in the
number of family members living at home. Some people just fancy a change
every once in a while and others decide to cash in when they think they've
ridden price rises as far as they can.
Before you start, think about what is involved in the whole process, how
long it is likely to take, any external time or financial pressures that you
may have and any other constraints that there may be, such as buying a new
home to move into.
If time is a critical factor in your sale, then you could be in for a
stressful time, so make sure you give yourself as much of it as possible.
Not everything that can go wrong necessarily will, but cutting time
deadlines fine will only add to the pressure and stress of what is already a
far from hassle free experience.
Don't bank on the sale going through incredibly quickly. Even if you do find
a buyer quickly, there are all sorts of other reasons why delays can hold up
the sale. You rarely have much influence over when a buyer will come along
or how long your property will be on the market.
One other important thing to do is to check with your lender that you are
not going to be hit with all sorts of redemption penalties when you redeem
your mortgage. As the costs of selling and buying mount up, you don't want
to be hit with a bill for what can amount to thousands of pounds. If you do
have to move but there are redemption penalties, try to consider other
alternatives such as renting, at least until the redemption period is over.
March to July tends to be the busiest time in the property market, though
late summer and early autumn can also be busy in some places.
High summer (if there is such a thing in this country) tends to be a bit
slower. This is due to people being on holiday or coping with the kids being
at home. People are often unwilling or not able to view, exchange,
co-ordinate and complete the necessary activities with the many distractions
that summer has to offer.
Apart from the traditional seasonal ebbs and flows of the market, conditions
can be become ripe for a vendor at any time, so always try to keep and an
eye or an ear on the market. It may sound obvious, but try to sell when
demand is high, as prices will be pushed up - something that clearly
benefits you.
If, like most people, you are trying to co-ordinate buying and selling a
home, it is best to put your home up for sale before you seriously start
looking for a new home to live in. Until you find a buyer for your own home,
you cannot tell with any certainty what price you are going to achieve (and
therefore how much you are going to have available for a purchase) or how
long it will be before you are in a position to go through with a purchase.
Of course, if money is less of an object, or you're not against the idea of
bridging finance, then this becomes much less of an issue.
The worst time to sell is when there are fewest buyers in the market. If interest rates are temporarily raised to calm the market, you may find that buyers are in short supply. If both your next door neighbours put identical houses up for sale at the same time, it may be a bad idea for you to do the same. So once again, try to follow the markets and read the signs. Following the news on this site should keep you in the picture.
In terms of the four seasons, autumn generally sees the housing market slow down. The reason for this is that winter tends not to be such a popular time for buyers, with the Christmas period a time when few people like to be moving house. Most buyers tend to prefer to wait until the new year.
Having said that, some properties have certain characteristics that are best seen at certain time of year. The sun may set beautifully giving rise to a fantastic view from one of the rooms for only a few months of the year or you may have a fantastic view during the winter months, which is obscured by greenery during the summer.
At the end of the day, much
depends on your property. If it is in a sought after location, you should
have no problem selling at a reasonable asking price regardless of the time
of year or market conditions. Then again, if there are strong reasons that
may put buyers off from acquiring your property, these are likely to be
valid objections regardless of whether demand has gone through the roof in
the market as a whole. But it does no harm to play the percentages and do
everything possible to gain as much advantage for yourself as possible.
Paige Peugh
mobile phone 706.633.9969
toll free (800) 307 0777
ask for extension 239
e-mail
paige@ellijay.com
Coldwell Banker
High Country Realty
Blue Ridge, Georgia
Contact Us
You may contact Paige to show you any of the
properties featured on this site, as well as anything you might find through
the Multiple Listing Service.