Selling a House in January
January is that time of the year when we all start making plans and resolutions for the year such as selling a house and finding a new home. So, what better time could there be to think about your future goals or plans to purchase a property.
The housing market
We have all seen the stories in the press recently regarding the housing market. There has been a decline in the market over the last few months which has been due to a number of factors. One of which is the hesitance by individuals to buy or sell because of the increase to interest rates on top of what can already be a daunting experience. It is likely that the market will continue to fluctuate and there is no guarantee that prices will actually decrease. Whilst this has caused some unease, this should not deter you from wanting to buy your dream home.
If you are looking to sell, now is the time to start making those plans a reality, letting you get on the market before everyone else does. The sooner you get your property on the market, the sooner you will find a potential buyer. Selling a house in January is often a good time to attract interest from buyers with new year resolutions, and this year will be no different for serious house hunters.
When should you instruct your solicitor?
The vast majority of property owners who choose to sell do so in the spring, leading to a saturated market full of competition for those looking to sell. It is therefore important to make your move worthwhile and to get the process underway as soon as you can.
In order to achieve this, you need to consider instructing a solicitor from the outset to guide you through the conveyancing process. Whilst the conveyancing process for a buyer is typically longer, since there are more steps involved, selling a house in January or the early part of the year allows your property to be seen before others join the market. The more properties that are added to the market increases the likelihood for there to be longer chains (i.e. more parties involved) which inevitably can result in longer delays in the conveyancing transaction.
A big part of moving home is being ready for that big move day. You should take advantage of these cold days to downsize on items of furniture you do not want and make the presentation of your home look more appealing to any potential buyers as for most of us first impressions do matter.
How much will the conveyancing fees be?
Buying and selling a house is one of the biggest transactions you are likely to make in your lifetime and we believe you should not take any risks with the quality of advice that is being given to you.
As well as stamp duty and any agent fees, your solicitor’s fee will be a significant part of your moving costs. It is therefore crucial to know what you are likely to be charged for so it is best to ask your solicitor for a breakdown of expected and potential fees and disbursements to let you see what the total cost will be.
Here to Help
So, if you are considering selling a house this January, get in touch with our Residential Conveyancing team and ask for a quote so you can start to make your new year’s resolution a reality.