In terms of the actual ‘selling’ and the negotiation: is not our business to tell you what to do. However, it is part of your solicitor’s job to know about the property market. General advice that all experienced solicitors would give:
- be realistic about price - don’t get too carried away with reports of house price increases. Mortgage finance is hard to come by for many and that flood of early viewings may dry up; better to close a fair deal than be left in limbo;
- don’t miss the early market – is that first offer really so bad? If you ask us about buying a house we’ll tell you to look at how long it’s been on the market. Well-priced properties in good locations don’t stay on the market long, but if a house has been on the market for a long time, its asking price has not met buyers’ expectations and it is unlikely to sell on or near that figure. The house that is fresh to market has an advantage – but it doesn’t last. So don’t dismiss that first offer out of hand; it’s your estate agent’s job to massage it upwards – and it may be the best you get;
- be honest with your solicitor – we work for you; making things as easy as possible for you is therefore our job. Solicitors do not usually visit properties our clients are selling, but we need to know if there is any information which may hold up the smooth transit of business – even if you think it is trivial.
Next instalment: Conveyancing: What You Need To Do: Administration
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