Opportunity Knocks for Wigan Buyers and Sellers ( or Beat The Clock )

What were your favourites?

“Life is a Game” is a quote attributed to Mother Teresa, but it could be easily applied to property.

As with all games, there are winners and losers when it comes to selling a home.

Timing always plays a part in how successful you are, as does having a talented estate agency working on your behalf to get you a winning result.

The announcement earlier this month that Stamp Duty for properties under £500,000 is eliminated until March 31, 2021, means there’s now plenty of opportunity knocking on the doors of homeowners in Wigan .

Buyers can save up to £15,000 during this window, and as a result we have definitely seen an increase in activity in properties between the £300-£500k price

Opportunity Clocks

Depending on what source you look at, it takes on average (from a cold start) between 176 to 200 days to sell a home.

This means the opportunity clock is now ticking before that March 31 deadline.

The Stamp Duty holiday means:

• Deals that were dead in the water over a difference in the value buyers and sellers were prepared to accept (especially between £15-30,000) are now potentially resurrected.

• Having more to put down as a deposit is opening more of the mortgage market to buyers.

• As is the decision by several lenders to reintroduce 90% Loan to Value mortgages.

• If you’re thinking of selling, you’ll also benefit from the Stamp Duty removal if the place you’re buying is under the £500,000 bracket.

But it’s not enough to put your most valuable tax-free asset up for sale and hope the rising tide of a buoyant market in Wigan helps you achieve the premium price for your property.

You also need to remember the following five things, which we’ve related to classic game shows to help you remember.

Blankety Blank

Watch out for cheap and not so cheerful agents or agencies that promise the earth but can’t back it up with evidence and case studies.

They are cheap for a reason and it’s not because they have a reputation for achieving the best prices.

The Price is Right

Overvaluing a property will mean it will stick, no matter what the market is doing or if stamp duty has been put on hold. Pricing it correctly to sell at a premium price is essential.

There are over 1600 Wigan properties that remain unsold after 3 months

Approximately 50 Wigan sellers reduce their price weekly.

It’s easy to identify which agents overvalue the most because they have the highest reduction rates.

Through the Keyhole

When you are on the market, your property gets put under the microscope so prepare it thoroughly so that viewers will feel like it’s a place they’d love to call home.

Countdown

Remember the date – March 31, 2020 – The sooner you start marketing your property, the better. The clock is ticking.

Bullseye

When you choose an agent with an excellent track record and fair fees who values your property correctly and can guide you on every aspect of the selling process, you’ve hit the bullseye. And you won’t be left thinking about what you could’ve ‘won.’

At Alan Batt Sales and Lettings our team motto is “ We Do More To Achieve More “

We like to think we don’t just sell your property, any agent can do that, our goal is to achieve a Better Price and a Quicker Sale than any other agent.

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