Set the right asking price
1) Carry out your own research. By using property search engines such as rightmove.co.uk, findaproperty.com and particularly propertysnake.co.uk, you can obtain details of houses in your area which haven't sold due to unrealistic pricing.
You can also check how much similar properties in your area have sold for using nethouseprices.com (it uses Land Registry data, but unlike the Land Registry, allows you to access it for free). Once you know the price paid for a property in a specific quarter of a specific year, you can use Nationwide's quarterly house price index to figure out what it would be worth today. Simply type the price and date into this house price calculator.
2) Get an online valuation. You can get a free online valuation from Zoopla or, if you can spare £20, an in-depth online valuation from Hometrack.
3) Get valuations from several estate agents. Make appointments with at least three estate agents for their own take on how much your home is worth. Valuations are free, and a good estate agent will also be able to advise you on any minor work you could think about doing to increase the value of your home.
Don't just plump for the estate agent that gives you the highest valuation, however. Instead, choose the one who has the most experience and has sold the most homes - the one who you think will do the best job of selling your property. And find out exactly how he/she plans to market your home.
Remember, you don't just to go with a traditional high street estate agent. There are many property-selling websites around nowadays which allow you to sell your home cheaply online. We like Tepilo, a 0% commission site set up by property show presenter Sarah Beeny. There's also housenetwork.co.uk and houseladder.co.uk.
Choosing this method could save you thousands, as estate agents typically charge 1% to 3% of the property price (plus VAT), while property-selling sites typically charge around £200 for listing the property and another £200 when you sell.
If you do go with estate agent, be sure to haggle over the commission fee. You don't simply have to accept what's in the contract. Ask them to throw in a HIP for free, or to lower their commission if it doesn't sell within a set period.
4. Get help from other lovemoney.com readers. Why not ask other readers what they've done to ensure they set the right asking price for their home? Use our Q&A tool to find out.
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