From The Times Property 30 October 2015 by Carol Lewis
If you had been looking to buy or sell property in time to be carving the turkey in your new home, Santa’s appearance will undoubtedly have prompted panic. Don’t despair. Here are some tips on how to make the deadline before Rudolf is reined.
Simon Barnes, a property consultant at H Barnes and Co, says: “There are a lot of properties about that are good but have been overpriced or not presented properly. So the sellers have the choice, sell now at a lower price or take it off the market and work on presentation, putting it back on in March.”
Know your market
Do your homework and know how much property is worth. Look at what else has sold in the street you want to move to or similar properties in the area. Barnes says: “You need to be well prepared to have seen what has sold and what hasn’t and have a good understanding of the value of the property you want. You need to be well informed to make an educated offer.”
If you are happy to exchange rather than complete by Christmas you could boost your negotiating power by offering the sellers time. Barnes says: “Be flexible with your timing, if the vendor is part of a chain then it is not just about price. So you could offer them less than the asking price but give them six months to find somewhere to live. It might be appealing to them to have the sale sorted and have that three to six months to find somewhere else.”
You won’t be alone
You won’t be the only one who has thought about buying in the lead-up to Christmas. Barnes says: “A lot of high-net-worth individuals have their business done and dusted now, and can focus on looking for property. Investors want to get the money off their books by the year end and are looking too.”