Northampton Vendors – Sell Your Home Fast

21st August 2020

While much of the focus regarding the stamp duty cut has been on buyers, it is important vendors responds to the news. It is likely that there will be more buyers in the market, and this should provide you with greater confidence when placing your house up for sale.

However, the sooner you move, the better, and this is for two key reasons. The first reason is the sooner you move, the less competition you have in selling your home. Secondly, if you wait, you run the risk of a sale not concluding before the temporary stamp duty cut stops, which might leave some buyers unable to afford the purchase.

Key points of stamp duty changes

The key points of the stamp duty holiday, implemented by the Chancellor of the Exchequer on 8^th July, are:

• Stamp duty threshold is now £500,000

• This increase in stamp duty threshold is set to run until 31^st March 2021

• The increase in stamp duty threshold takes place immediately

Naturally, most of the focus has fallen on buyers, and how they are helped by this measure. Of course, buyers and vendors are connected, and good news for buyers can be of benefit to vendors.

With homeowners feeling confident about the number of prospective buyers looking for property, more people will be inclined to place their house on the market. Equally, if a homeowner feels they can afford their next move, they will commit to the moving process.

Mark Hayward is the Chief Executive of NAEA Propertymark and he said; “With housing market activity picking back up this summer after a two-month hiatus, it’s more important than ever to go the extra mile and take every possible measure to help your property stand out. If you are looking to sell your home this summer, turn to your local NAEA Propertymark estate agent to guide you in the right direction and help you ensure all new safety measures are complied with, to increase your chances of a speedy sale.”

NAEA Propertymark has also issued the following tips to help vendors connect with buyers when selling their home this summer and autumn:

• Ensure your home is up to date with safety features and measures

• Make the condition of your windows a priority when improving your home

• Spend some time in the garden creating a favourable and welcoming style

• Opt for a neutral décor, keeping decorations simple so as to provide prospective buyers with a blank slate

• If you have a pet at home, make sure all nasty pet odours are removed before welcoming likely buyers

• Make sure all DIY repair work is taken care of

Every property has issues to consider, but if you follow these tips, you will give yourself a great starting point in selling your home. Another crucial step in selling your home is valuing your home before you go to market. This is an area we can help you with. Contact Merrys today to arrange a property valuation.