ARTICLE

Selling your development property

The last lick of paint has finally been applied. You're throwing your throws, draping your drapes and plumping those cushions for Britain. You've done it! Well, not quite. You're nearly there but the project's not finished until you've sold your property. It's time to focus on business realities and secure a quick sale at an attractive price. Handle this crucial final phase right and it won't be long before someone makes you an irresistible offer.

Selling your development property

Golden rules

  • Make sure your property's a shifter not a sticker!
  • Price your property realistically. A non-moving property is a bad investment.
  • The highest offer is not always the best.
  • Don't replace everyday clutter with an accessory jungle: less really is more.

Season sense
Don't go selling your property in mid-summer (when many potential buyers are away on holiday) or the Christmas period (an expensive time for most people). Late spring or early summer are good if you're aiming your property at families. Parents like to settle children into a new home over the summer holidays.

Sell mates
Obtain three valuations from reputable local estate agents with proven records of selling properties similar to your own. Wait until the property is finished before you show them round. You want agents to know exactly what potential buyers will see.

You're entitled to give prospective agents a grilling - after all, you'll be paying them handsomely for their services. How potent is their publicity machine? Do they have a smart, easy-to-use website? Are they listening to feedback from viewers and passing it on to you? It's tempting to pick the estate agent who gives you the highest valuation but you need to be confident that an attractive asking price will actually result in firm offers. For more about selling your property, see Moving Home. To find an estate agent, visit the National Association of Estate Agents website.

Private party
Selling privately is hard work and most property experts don't recommend it. On the other hand, if you're very sure of your market and you're confident you can advertise convincingly and cost-effectively in that market, then selling privately will save you a hefty chunk of money.

Dress to impress
First of all, get the basics right. Give the place a thorough clean. Spruce up the outside to maximise ''kerb appeal''. Expunge all traces of yourself from the place and banish any clutter. Once you've got a blank canvas, look for accessories in colours that help unify the look you're after. Choose fabrics in contrasting textures and try to save a bit of cash to splash out on at least one luxurious throw or bedspread. In the kitchen, pick timeless classics so that everyday items like storage jars and toasters become smart accessories. Remember to deploy the best accessory of all - a well-chosen bunch of flowers in a beautiful vase. Avoid clogging rooms with furniture. If space is tight, use smaller pieces of furniture to preserve a sense of space. Finally, don't forget yourself. Get a hairdo and some new togs once the dirty work's out of the way. Only the very, very beautiful look cool in paint-spattered rags. The rest of us just look mucky and shiftless.

The right offer
If the offers start flowing straight away, all well and good. Don't automatically accept the highest offer, though. A slightly lower offer from a cash buyer may be a better bet. If offers don't flood in, listen to the market and consider lowering the price.

Thinking ahead
You should have decided on your target market before starting the development but continue to keep an eye on what the market is doing while the project is in progress. Take early soundings from estate agents, keep an eye on prices and look out for any fresh selling points: a new restaurant may have opened locally or the nursery round the corner may have won an award.

The bottom line
During the frantic final days of a property development, it's easy to forget little jobs that make the difference between a well-presented property and one that looks like it has been rushed to market by greedy or desperate vendors. Apart from a really good clean throughout, here's a checklist of final touches:

  • Make good any imperfections in skirting boards, picture rails and other woodwork. Do the same for tiled surfaces.
  • Secure light switches, electrical sockets, window fittings and door furniture. Remove all traces of stray paint.
  • Check that all lights and all appliances, including the central heating, work.
  • Clean and tidy cupboard interiors. Buyers always have a little nose inside cupboards!
  • Tidy up any bits of carpet, lino or other flooring left behind by fitters.
  • Remove building rubbish from the outside areas. If necessary, clean up the immediate locality, including the street outside the property.

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