Important steps for selling your home part 4

 

Should I buy and sell at the same time?

 

Unless you're a first-time buyer, one of the key decisions you need to make is whether to try and sell and buy at the same time. If you do this, you risk ending up in a chain, which can slow things down considerably.

Here are some tips on how to stop a property chain collapsing.

The alternative is to rent for a period while you sell, but before going down this route, you need to weigh up the pros and cons.

Renting will make the sales process easier as you won’t have to contend with the complications of being in a chain, but it could be costly.

Do I need a property survey?

 

Most people are familiar with the concept of getting a survey carried out on a property they are looking to buy.

But commissioning a survey on your own property before putting it on the market could also be a good idea.

Bear in mind this doesn't always need to be a full-blown HomeBuyer Report or Building Survey. You may be able to get cheaper surveys carried out just to investigate a specific problem.

Here's a host of scenarios where some type of survey could be worth the money.

·         You suspect Japanese Knotweed

Japanese Knotweed is an extremely fast-growing and destructive plant which can damage house foundations, drainage systems and walls. Bad cases of it can leave your home essentially un-mortgageable.

If you suspect its existence on or near your property, get a professional survey done. Costs start at around £240 plus VAT.

Find out more with our Japanese Knotweed Q&A.

·         There are signs of subsidence

Cracks in your walls, typically those that are more than 3mm wide and larger at the top of the wall, could be a sign of subsidence which occurs when the ground below your property moves and affects its stability.

Over time, this can cause serious structural damage.

Many insurance companies will refuse to insure a property with subsidence – making it a major turn-off for potential buyers.

In this case a full Building Survey, which could cost between £600 and £1,000, could be worth the money. If it turns up a subsidence problem, you may want to look at ways to deal with the issue, such as underpinning, before putting your home up for sale.

Note, however, that fixing the problem can be a long and costly process.

·         You can see or smell damp

If you’ve got the odd damp patch on the ceiling or if there is a musty smell in your home, this could be an indication of a wider damp problem. A damp proofing expert can come and take a look for as little as £100.

Some forms of damp can be easily and cheaply fixed, while others can be costly to put right. For example, a damp course for an average three-bedroom house could cost around £4,000.

But it's better to find out yourself that you have a major damp problem before it is uncovered by a potential buyer.