Don’t negotiate on price when selling your home
People will traditionally go to an estate agent to sell their house. Nothing new and nothing wrong with this. The system has worked for many years. But what happens if the agent is not able to sell the house? This predicament has been on the increase in the current economic climate with many houses on the market for over a year.
What if you really wanted to sell your house, be it through a forced situation or you are just sick of all the hassle. Put yourself in the following situations:
- no offers on your home
- little to negative equity
- missed payments on your mortgage, possibly through job loss
- the threat of repossession
- sale due to emigration, divorce or death in the family
- moving to a retirement home
These are but a few situations which thousands of people in the UK are facing at the moment. When their house is not selling, what does the agent advise them to do? Drop their price. When that doesn’t work, then what? Drop their price. If that still doesn’t work, then what? Drop their price. Then what? You get my point.
If price is all you have to negotiate on, then you are going to lose a lot of money. Well, you might ask, what else can we negotiate on? The answer is ‘terms’. The terms in which you sell your house can be even more important than the price.
Have you ever bought a car through a dealer? Did you pay cash? If you did, you would surely have negotiated a decent discount. If you didn’t, you bought on terms. You paid and upfront deposit, signed the paper-work, and made payments on the balance. This analogy shows one way you could use terms when selling a house.
Example: Your house is on the market for £300,000. Chances are, you would have to drop all the way down to £250,000, so as to fall within the stamp duty threshold, in order to get a sale. Well, why not sell for £300,000 – with £225,000 paid upfront and the balance over the next five years? That’s £1,250 per month. Not a bad income stream. And you get the sale you want quickly, without having to throw away £50,000.
We are currently running an offering you a free consultation worth £100. They will help you define the terms in which you can sell your house without negotiating on price in the current market. Simply call them on 020 3151 2004 and quote “January Offer” or submit a query on their website.