What Is A Covenant?
A covenant is a term you might hear when discussing a property during the conveyancing process. Covenants are a form of legal obligation that is binding on the owner of a property and passes from owner to owner whenever the property is sold. They form part of the deeds of a property and are recorded at HM Land Registry.
A covenant is usually established by the builder or original owner of a property and seeks to ensure that certain things happen … Continue Reading…
Extensions
We are often invited to advise local homeowners on the expected “uplift” in the value of their property if they make certain alterations.
On the surface, it is logical to assume that an extension will add significant value to your property, and this is often the case. However, we would urge caution when justifying the cost of improvements versus the expected increase in value.
There is little point in improving your property unless it significantly increases its saleability. In other words, once … Continue Reading…
Stamp Duty Rates
Many clients often ask what the current rates of Stamp Duty are. Hopefully the following explanation will help clarify the confusion.
Stamp duty originated in the 17th century when duty stamps could be purchased and attached to a transactional document to prove that any tax due on the transaction had been paid. Today, tax relating to the purchase of land is known as “Stamp Duty”, or, more correctly Stamp Duty Land Tax (SDLT).
There has in the past been some confusion as … Continue Reading…
Preparing Your Garden
You only get one chance to make a first impression, and the state of your garden is will always make an impact. Not only will prospective buyers be walking around your garden, but it will often make up much of the view from within the property as well.
Gardens begin to grow vigorously at this time of year and if kept unchecked your property can appear unkempt. A little input now could pay dividends when it comes to the sale, so … Continue Reading…
July Market Comment
As British politics continues to be a bit of a bun fight, the great British homebuying public is taking a more pragmatic approach and appears to have disconnected from such trivialities, with buyer registrations nudging up by between 4% and 9% across the UK*. This year, the spring market appears to have overflowed into the summer, with no sign of any seasonal slowdown.
Although the summer holidays have yet to begin in earnest, anybody seriously looking to move house is unlikely … Continue Reading…
Touching Up
When the time comes to sell, you naturally want your property to look its best, but how far should you go in terms of presentation?
Firstly, aim to understand how your property “sits” within the market. Not all buyers have the same buying criteria, so walk through the house with your estate agent to identify your property’s strengths and weaknesses. Look through the eyes of a typical likely buyer, and consider what aspects should be improved to enhance your chances of … Continue Reading…
First Impressions Count!
You only get one chance to make a first impression! When it comes to selling your home, attention to detail could be pivotal in securing an early sale at the best possible price.
Most buyers have a good idea of their preferred location, minimum accommodation needs and ideal style of property. Yet it is often presentation that makes the greatest difference. A well-presented property not only looks more attractive, but also suggests that the owners have cared for it and regard … Continue Reading…
“Deciding On Price” (Part Two)
Establishing an accurate asking price that will optimise your chances of selling at the highest likely price within a reasonable timescale is both an art and a science, particularly during a time when buyers are especially price sensitive.
Estate agents’ valuations can vary tremendously. Some agents attempt to win your instruction by flattering you with a high but unrealistic suggested asking price -beware! Some, due to inexperience or unfamiliarity with current buyer trends, get it plain wrong – which can cost … Continue Reading…
“Deciding On Price” (Part One)
Whatever anyone might say about location, condition, proximity to schools, size, etc., it is the price at which a property is initially marketed that is the key to a successful sale.
But emotions often cloud good judgement. The chance to secure a high price can prompt sellers to quote too much, and the house then misses the early buyer activity that is most likely to produce a sale. Quote too little and the resulting immediate sale can fuel resentment as you … Continue Reading…
June Market Comment
Who’d have thought it – the market is moving! Despite all the uncertainty and political turmoil, buyers and sellers alike seem to be getting on with life as readily as one would ordinarily expect at this time of year.
However, if you really want some juicy property-related dinner party conversation then just try to unravel the various house price reports. For example, according to the latest data from Nationwide, annual house price growth has remained under 1% for the sixth month … Continue Reading…