GUIDE TO SELLING YOUR HOME Understanding the process behind selling your home and how to maximise your sales price with Scotland’s most trusted Estate Agency.
CONTENTS
2 Guide to selling your home
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3 WELCOME
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4 VALUATIONS
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7 PREPARATION
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8
PUBLIC OR PRIVATE?
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9
HOME REPORT
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10
ASKING PRICE
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13
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15 CONTENT
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16
GOING LIVE
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17
HANDLING VIEWINGS
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18
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19
CLOSING DATE
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20
ASSESING YOUR OPTIONS
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21
ACCEPTING AN OFFER
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22
AFTERCARE
MARKETING
FEEDBACK & OFFERS
W E LCO M E
The property market can be a confusing and daunting place at times; it is an industry that moves at its own pace and change is impacted on a micro street by street basis. This guide outlines everything you need to know about the Scottish property market, from understanding the valuation process to setting closing dates, conducting viewings and accepting an offer. With the right guidance and advice, we believe selling a property can be a stress-free and exciting process. Here you will find expert insights from our partners to make your journey as enjoyable and rewarding as possible.
WE ’RE SO LD ON YOUR FUTURE
Guide to selling your home 3
S T E P 1: VA L U AT I O N GET TING AN ACCURATE PRICE FOR YOUR HOME
“UNDERSTANDING THE VALUE OF YOUR HOME FROM THE VERY BEGINNING IS FUNDAMENTAL TO A SUCCESSFUL SALE” -
4 Guide to selling your home
BRUCE PAT TERSON, MANAGING DIRECTOR
T he fi rs t key step when you are st a rt i n g ou t on t h e jou rn ey of sel l i n g you r h o me i s to g et a valuation from a n ex p eri en ced p rop erty p rofessi on a l wh o u n d e rs tands your loc al m arket a n d c a n p rovi de a n a cc u ra te p i c t u re of wh ere yo u r ho me fits.
At Co ru m , we have 9 branc hes sp rea d a c ross Grea ter Gl a sg ow a n d Ay rsh i re ru n by a team loc al to the area wh i c h g i ves u s a n u n ri va l l ed l oc a l k n owl edg e . O ne o f our hig hly experienced Pa rt n ers wi l l be a bl e to g i ve you a g en u i n e p ro p e rty valuation and sug g est a n ef fec t i ve a sk i n g p ri ce.
Our v alua tio ns ta ke into a cco unt a mu l t it u d e of econ omic f ac tors t hat in clude:
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Loc al m arket data
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W ider m arket trend s
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National econom ic p erforma n ce
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Both historic and recen t p rop erty sa l es
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Sim ilar properties c u rren t l y on t h e ma rket
Plus, t he fo l l owing fe a tu re s tha t are sp ec if ic to you r ow n p r op e rty: - Loc ation
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Desig n, q uality and a p p ea ra n ce of t h e bu i l di n g
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Overall sq uare foot a g e, room si zes a n d cei l i n g h ei g h t s
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Num ber of bedroo ms a n d ba t h rooms
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Outside space suc h a s g a rden s, p a rk i n g a n d ou t bu i l di n g s
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Proxim ity to sc hoo l c a tc h men t a rea s
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Potential for renova t i on s
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I t’s uniq ue and indi vi du a l c h a ra c teri st i c s
O u r Valuers w ill g ive you a com p l ete, op en a n d t ra n sp a ren t su mma ry of t h ei r tho u ghts, with a com prehensive feedba c k on a l l a sp ec t s of t h e p rop erty be fo re p roviding an educ ated esti ma ted va l u e of you r h ome.
Guide to selling your home 5
“ W E WO R K H A N D I N H A N D W I T H O U R C L I E N T S TO E N S U R E T H AT W E E XC E E D T H E I R E V E RY E X P E C TAT I O N ” LY N DA S H I R RA , D I R E C TO R
6 Guide to selling your home
S T E P 2 : P R E PA R AT I O N UNDERSTANDING THE SALES PROCESS
T he re are a num ber of key dec i si on s t h a t i mp a c t t h e p oten t i a l sa l e of a p ro p e rty and this is w here Cor u m c a n h el p ; we wi l l co - ordi n a te every t h i n g o n yo u r behalf and liaise with you t h rou g h ou t t h e p rocess so t h a t you a re u p to speed and c an relax in t h e k n owl edg e t h a t we a re l ook i n g a f ter you r best i n terest s.
In this sec tion, we w ill walk you t h rou g h t h e va ri ou s step s i n vol ved i n bring ing you r h ome to t h e ma rket .
Guide to selling your home 7
CHOOSING THE RIGHT PAT H F O R YO U R S A L E
PUBLIC OR PRIVATE SALE?
Whe the r you c h oose to l ist you r p r op e rty on t h e o p en ma rke t u sing ou r we bsite an d p r op e rty p or t al s s u c h a s Right move , or in ste ad op t for a Pr iv ate Sal e ( a ls o k n ow n as sellin g ‘O f f Ma r ke t’ ) is e nt ire l y d ow n to you r p r efer e nce .
So , w h at ’s t he d if fe re nce ?
G oin g to t h e o p en ma rket wi l l a l l ow yo u to showca s e your ho me to t h e wi d est a u d i en ce p o ssi b l e, i t i s t h e m o s t popul a r ro u te a n d o f ten resu l t s i n a c l a mo u r o f i nte r e s t . It als o gi ves o u r sa l es tea ms t h e b est o p p o rt u n i ty to e n tertai n en qu i res f ro m b o t h est a b l i sh ed a n d n ew cli e n ts alike. Priv ate S a l es o f fer a grea ter l evel o f d i sc ret i o n a n d ca n b en efi t t h o se l o o ki n g fo r a l ow- key a p p ro a c h . Co r um retain a wea l t h o f b u yers wh o a re l o o ki n g fo r s p eci f i c prop ert i es a n d o u r a p p ro a c h to o f f ma rket sa l es i s o n e of tai l o red ma tc h ma ki n g, a n a rea we p ro u d l y sp eci a li s e in . T h ese typ es o f sa l e c a n a l so su i t sen si t i ve si t ua ti o n s s uch a s sep a ra t i o n s, est a te sa l es a n d co rp o ra te r e lo ca tion s . Before ma ki n g a d ec i si o n o n wh a t i s ri gh t fo r yo u , o ur experien ced sa l es tea ms wi l l wa l k t h ro u gh ea c h a n d eve r y as pec t o f yo u r own sa l e to en su re we c h o o se t h e p e r fect path fo r yo u r c i rc u mst a n ces.
8 Guide to selling your home
Reg ardless of t he pa th yo u cho o se , in ord e r to se l l a home i n S cot land you mu st co mmiss io n a H ome Re p ort f r om an es t a bli shed Cha rte re d Su rveyo r.
THE HOME REPORT
A H ome Repor t is a full an d detailed a n a l ysi s co n d u c ted by a spec i al i st property s urveyor to ascert a i n t h e v a l u e o f you r pr oper ty as it s tan ds . T h is is th en u sed by l en d ers o n b e h a l f of t hose lookin g to purch as e a p ro p erty a s p a rt o f th e mor tg ag e proces s .
Th e Hom e Rep ort will als o iden tify a n y i ssu es wi t h t h e p r o p e r ty and p res en ts th em v ia a s co ri n g system ra n ked 1 - 2 - 3. Ag ai n, o ur s ales team will man a ge a n d co o rd i n a te th i s on you r b eh alf an d en s ure th e su rveyo rs a re f u l l y aw ar e of al l as pects of your p roperty to a l l ow t h em to co mpl ete an accurate report .
Guide to selling your home 9
S E T T I N G O U T YO U R ASKING PRICE
B efo re li st i ng yo u r pro pe rty o n the m arke t , it is imp ort an t t hat you t h ink a b o u t se tting a n a p p rop r iate ask ing p r i ce t hat w i ll e ntice the ma x imu m a m ou nt of inte re ste d b u yers.
S o , what i s t he differen ce b etween th e a ski n g p ri ce a n d th e val u at i on o f th e p roperty?
We u su al l y r ecommen d s ettin g your a ski n g p ri ce b el ow th e Hom e Repo rt v alue of th e prop erty to i n v i te wh a t i s c al l ed ‘O f fe r s Over’ wh ich en courages b u yers wi t h d i f fere n t bu d g et s to p repare th eir b es t offe rs.
A s for what an ap p ropriate as kin g price i s, t h a t i s d ea l t w i th on a c ase -by- cas e b as is an d, as w i t h everyt h i n g we d o, Cor u m’s team w ill en s ure you are gi ven d et a i l ed a n d e d u c ated i nfor mation on wh at is b es t fo r yo u r p ro p erty.
10 Guide to selling your home
BEING BOLD, BUT FAIR
To help understand the process of asking price versus home report value, here are some examples of recent sales Corum have concluded on behalf of our clients.
Property
Asking
HR Value
Sale Price
Belleisle drive, ayr
£995,000
£1,200,000
£1,650,000
douglas avenue, prestwick
£385,000
£400,000
£435,532
Duart avenue, prestwick
£285,000
£320,000
£351,751
lochpark, doonfoot
£285,000
£310,000
£325,000
marle park, alloway
£225,000
£250,000
£300,000
ottoline drive, troon
£395,000
£425,000
£477,501
bentinck drive, troon
£395,000
£425,000
£465,158
yorke road, troon
£365,000
£400,000
£446,000
caldwell road, west kilbride
£375,000
£405,000
£475,000
bowfield road, west kilbride
£299,000
£320,000
£345,000
scott road, largs
£185,000
£200,000
£225,000
Guide to selling your home 11
WHY CORUM? 18 Y E AR S OF T R U S T O n ce , e st a te a ge n t s we r e e s t ate a ge n t s . N ow a d a y s , t h ey ’ r e o f te n l a w ye r s , mor tgage b r oke r s an d l e tt i n g a g e n t s – b ut n o t at Cor u m. We work exc lusivel y i n est a te a g en cy, mea n i n g we devote 100% of our tim e doi n g wh a t ou r c u stomers wa n t : sec u ri n g the best price.
The ag ency ’s orig i n a l fou n di n g p a rt n ers worked tog et h er a t one of the larg est est a te a g en c i es i n t h e cou n t ry, u n t i l a company takeover led to a wh ol esa l e foc u s on F i n a n c i a l Servi ces – a m ove reflec te d a c ross t h e i n du st ry a s a wh ol e. I t p romp ted the team ’s depart u re to set u p t h e p ri va tel y own ed, dedi c a ted estate ag ency Co ru m i n 20 0 3 .
18 years on those fou n di n g p a rt n ers, tog et h er wi t h t h ei r en hanced team of addi t i on a l ex p eri en ced p a rt n ers a n d a ssoc i ates, whic h inc lud e some of t h e most ex p eri en ced n eg ot i a tors in the business, h a ve est a bl i sh ed n i n e bra n c h es i n p rop erty hotspots throu g h ou t t h e west of S cot l a n d, ma k i n g u s t h e m ost loc ally know l edg ea bl e.
12 Guide to selling your home
S T E P 3: M A R K E T I N G PUT YOUR FRONT FOOT FORWARD
TAKE PRIDE IN YOUR HOME AND DON’T BE AFRAID TO SHOW IT OFF Before taking your home to the market, we need to think about ensuring your home is at its very best, and that we create eyecatching and information rich content.
It is also crucial to appreciate the part that aesthetics play in the sales process, and making sure your home is presented in the best light can make a massive difference to the outcome of your journey.
Guide to selling your home 13
IT’S AS EASY AS 1-2-3 “SHOWING CONFIDENCE IN YOUR HOME CAN BE EVERYTHING” - GORDON MCGUIRE, HEAD OF MARKETING
01
02
03
Kerbside Appeal
Fix Up, Look Sharp
Spring Cleaning
First impressions matter, and presenting a welcome exterior is the perfect place to start in the marketing of your home.
Take some time to make sure that any little issues in your house have been fixed, these small factors can make a big difference in a buyers decision making.
It goes without saying really, but we actively encourage you to make sure you take the time to thoroughly clean your home, and that includes inside your cupboards, remember buyers can be nosey!
Spending some time ensuring your property looks good from the outside can make all the difference; think about your garden, is the grass clean cut? Are your outside lights working? Does the paint need freshened? You never know when an interested buyer might drive-by, so try to make sure things are on point at all times.
Most people will feel relaxed when they see a house is in good order, however on the flip side, cracked tiles or chipped paintwork could plant seeds of doubt. Sometimes repairs can take a while to complete, so think about this early and action any changes you think could be beneficial.
Decluttering is also very important, whilst you may value certain knickknacks and family photos, you want buyers to be able to visualise themselves living in your property and giving them as clean a canvass to imagine putting their own stamp on things is a great start.
- - Professional Styling -Getting your home dressed and organised by a professional can add as much as 5-10% on to the final sales price of your home. At Corum, our dedicated in-house marketing team can coordinate with a professional interior designer who can help style and enhance your property. Contact your local branch to learn more
14 Guide to selling your home
CO N T E N T I S KING
CREATING YOUR
Now that you r h ome i s i n p ea k con di t i on a n d rea dy to pr e s ent to th e worl d, we wi l l st a rt t h e n ex t step of t h e pr o ce s s by c urat i n g h i g h qu a l i ty ma rket i n g con ten t for you r p r o pe r ty.
CONTENT We prov i de h i g h qu a l i ty a n d p rofessi on a l l y edi ted i nte r i o r and exte ri or p h otog ra p h y, a s wel l a s a t a i l ored broc hur e fo r your pro p erty a s p a rt of you r Coru m ma rket i n g fee.
M any of ou r c l i en t s a l so op t property, wh i c h c a n be a g rea t looking for a more i mmersi ve c an c ho ose a 3 d V i rt u a l Tou r navig ate t h ei r wa y t h rou g h ou t sure before vi si t i n g i n p erson .
for H D vi deo tou rs o f t he i r a ddi t i on a l tool , wh i l st t ho s e p resen t a t i on of t h ei r ho m e wh i c h wi l l a l l ow vi ewe r s to you r h ome a t t h ei r ow n l e i -
Once the con ten t h a s been p u l l ed tog et h er a n d, i mp o r t a nt l y so, has been si g n ed of f by you rsel f, you r Coru m a g e nt w i l l prepare you r l i st i n g s on t h e key p rop erty p l a t forms t ha t we use, whic h i n c l u de; ◊
Coru m’ s websi te ( w w w. cor u mp r op e r t y. co. u k)
◊ R i g h t move ( w w w. r i g h t mov e . co. u k ) ◊
On Th e M a rket ( w w w. ont h e mar ke t . co. u k )
Guide to selling your home 15
STEP 4: GOING LIVE TRUST THE PROCESS
N ow that eve rything has been ag reed i n terms of a sk i n g p r ice , yo u r ho me is looking beautifu l l y p resen ted a n d t h e ma r ke ti n g materials have been c reated ; i t ’ s t i me to g o for i t a n d e nte r th e market place.
T h is i s an exci t ing tim e and with the h el p of a n ex p eri en ced a n d p ro fe ss i o n a l team like Corum , it s h ou l d be a n en joy a bl e o n e to o .
Yo u r Co ru m ag ent w ill here on in g u i de you t h rou g h t h e s a l es p ro ce ss , coordinate your viewin g s, ma n a g e feedba c k a n d p re se nt any offers that com e throu g h .
16 Guide to selling your home
TIME TO GO FOR IT
HANDLING VIEWINGS
V iew ing s a re on e of t h e most , i f n ot t h e most , i mp ort a nt parts of t h e en t i re sa l es jou rn ey. E n su ri n g t h a t i n teres te d buyers a re g i ven a cc u ra te i n forma t i on , p osi t i ve a n d up lifting con versa t i on a n d a re g u i ded sea ml essl y t h ro ug h eac h roo m i s c ru c i a l to t h e su ccess of a vi ewi n g .
Our hig h l y ex p eri en ced tea m a re more t h a n h a p py to conduc t vi ewi n g s on you r beh a l f ; t h i s i s of ten t h e m o s t popular c h oi ce a s ou r n eu t ra l i ty a n d i mp a rt i a l i ty me a ns the pros p ec t i ve bu yers mi g h t a sk u s qu est i on s t h ey m a y not feel comfort a bl e a sk i n g you di rec t l y. Ou r tea m ha ve also con du c ted ten s of t h ou sa n ds of vi ewi n g s a n d a r e confiden t i n every a sp ec t of t h e p rocess.
For thos e t h a t wi sh to con du c t t h ei r own h ou se vi ewi ng s , we will h a p p i l y p rovi de a s mu c h or a s l i tt l e su p p ort , a d vice and g u i da n ce a s t h ey feel t h ey n eed.
The bran c h h a n dl i n g you r sa l e wi l l en su re t h a t a l l vie w ing s are p rofessi on a l l y booked, a n d t h a t bot h bu yer a nd seller have a mp l e n ot i ce for t h ei r di a ri es.
“ T R U S T T H E P RO C E S S A N D E N J OY T H E J O U R N E Y. M OV I N G H O M E SHOULD BE A CHERISHED LIFEEVENT” CO L I N M CC RO S S I N - PA RT N E R
Guide to selling your home 17
O n ce the v i e wing process has commen ced, you r Coru m a g en t wi ll b egi n to have conversations wi t h t h ose wh o h a ve v i s ite d the p roperty to g aug e feedbac k a n d wi l l a scert a i n th e ir th o u gh ts.
Fo r so me , the property m ig ht not be ri g h t wh i l st ot h ers ma y w is h to arrange a second view ing . Then t h ere a re t h e i n tere s ted p arti e s, we will take their feedba c k on boa rd, con f i rm th e ir tho u ghts and feeling s on m ovin g forwa rd a n d i n vi te th e m to make an offer.
We wi ll e n su re that you are presented wi t h a det a i l ed a n d co n ci s e su mmary of all feedbac k as an d wh en we recei ve i t .
If a cli e nt i s i nterested in m aking an of fer, t h ey ma y i n i ti a l ly co mmi t to a verbal offer or a note of i n terest ( a n i n d ic a ti o n they a re g oing to m ake an offer) a n d a g a i n , we wi l l e n s u re yo u are broug ht up to speed st ra i g h t a wa y.
In ord e r fo r an offer to be form alised, i t n eeds to come vi a th e b u ye rs ch osen solic itor and this wou l d u su a l l y fol l ow o n fro m a ve rb al offer or note of interest .
18 Guide to selling your home
FEEDBACK & OFFERS
SHOULD I SET A CLOSING DATE?
W H AT I S A C LO S I N G DAT E ? A c losing date is u su a l l y recommen ded wh en t h ere a re a n u m b e r o f interested parties i n ten t on ma k i n g a n of fer on a p rop erty. A d a te a nd tim e is c hosen an d ea c h p rosp ec t i ve bu yer wi l l be i n formed o f t hi s and asked to forma l l y su bmi t t h ei r st ron g est of fer vi a t h ei r so l i c i to r in advance of tha t t i me - you wi l l u su a l l y f i n d of fers a re ma de i n t he hours leading up to a c l osi n g da te wh i c h wi l l ret u rn t h e opt i m um price for the sell er.
Closing dates are h i g h l y coveted a n d more of ten t h a n n ot wi l l s ee t he property price pu sh ed to i t s h i g h est a s bu yers comp ete to of fe r t he i r best price, or risk l osi n g ou t a l tog et h er.
Your sales consul t a n t wi l l most l i kel y en cou ra g e you to set a c l o s i ng date if you recei ve mu l t i p l e n otes of i n terest , h owever ea c h s a l e i s different and we wi l l a l wa y s a dvi se on a c a se -by- c a se ba si s.
Guide to selling your home 19
ASSESSING YOUR OPTIONS
I T M AY S E E M L I K E T H E H I G H E S T O F F E R I S A LWAY S T H E B E S T O F F E R , B U T T H I S I S N ’ T N E C E S S A R I LY T H E C A S E . Ye s , a hi gh p ri ce is a core and fundam en t a l p a rt of a n y o ffe r, b u t th e r e are a num ber of fac tors t h a t we wi l l p r ese nt to yo u and advise on before ch oosi n g you r of fer, th e se i n clu de :
◊ Valu e o f the offer ◊ I s i t a cash offer or are they m ortg a g e dep en den t ◊ Do th ey h ave a house to sell first ◊ Are they p art of a w ider c hain ◊ Wh e n are they looking to m ove
T h e co llecti ve answer to all of these qu est i on s c a n h a ve a bi g i mp act o n the appeal of an offe r, a n d so i t i s i mp o r t an t to co nsider all aspec ts before ma k i n g a dec i si on .
20 Guide to selling your home
CHOOSING AN OFFER
IT ’ S TIM E TO ACCEPT Once you h a ve del i bera ted on you r va ri ou s of fe r s a nd c hos en t h e on e you feel i s ri g h t for you , we wi l l no t i f y the su ccessf u l bu yer a n d t h ei r sol i c i tor wi l l su bseq ue ntly be i n tou c h wi t h you r own sol i c i tors to a g ree d a te s and beg i n t h e con vey a n c i n g p rocess.
From h ere on i n t h e p rocess i s most l y ma n a g ed by t he solic i tors of bot h p a rt i es, bu t we a re a l wa y s on -h a nd to eng a g e, a ssi st a n d a dvi se on a n y ma tters t h a t ma y a r i s e .
E ven wh en you r p rop erty i s sol d, Coru m wi l l con t i nue to liaise wi t h you to ma ke su re every t h i n g you requ ir e i s i n orde r.
Guide to selling your home 21
AFTER-SALE SUPPORT CO NG RATU L AT IO N S O N S EL L IN G YO U R H O M E, WE A RE S TI L L H ER E F O R YO U I F YO U N EED U S . By following o u r g u i de a n d t ru st i n g t h e Coru m sa l es tea m, we a r e confident that you r sa l es jou rn ey wi l l h a ve been a su ccess. But our suppo rt doesn ’ t en d t h ere, a n d we a re h ere to a ssi s t w i t h all the final asp ec t s of you r h ome move, wh i c h ma y i n c l u de :
22 Guide to selling your home
LIAISING
ORGANISING
WITH YOUR BUYER
REMOVAL COMPANY
There may be questions you wish to ask
We can suggest the best removal teams
the buyer, consult on move-in dates or
in your area as our branches have local
arrange for property visits.
relationships with trusted suppliers.
HANDING
SUPPORTING
OVER YOUR KEYS
YOUR NEXT MOVE
Our branch will ensure that there is a
We hope your next home will be a Corum
smooth, seamless and hassle-free key
home, but regardless of who or where you
handover on the day of your sale.
buy from, we are on hand to advise should you need us.
Guide to selling your home 23
www.corumproperty.co.uk