Page 18 - December 2023

PROPERTY ADVICE

Don’t fear a

fixed price A fixed price
property is an
There’s been a noticeable increase in
We discuss the pros of listing the number of properties listed for sale attractive prospect
with ESPC at a fixed price, but this isn’t
your property for a set price for buyers who want
necessarily a negative thing. In fact,
in today’s market. choosing to list your home for a fixed to move quickly.
price can offer a variety of benefits
that you might not have considered –
especially if you’re planning an onward
f you’ve kept an eye on the purchase.
property market in the last few
Iyears, you can’t have failed In the first instance, choosing to market
to notice the headlines around your property for a fixed price can give In a competitive and crowded market,
house prices – particularly when it you an instant indicator of your budget choosing to sell for a fixed price could
comes to the Scottish offers-over for your next property purchase. Many also make your home stand out to
system. In a seriously competitive homeowners choose to wait until buyers over similar properties, so it’s
market, buyers are prone to bidding their current home has gone under worth considering it as a marketing tool.
– occasionally wildly – over a offer before beginning the hunt for
property’s valuation, inflating prices their next property, which can result You may choose to list your home for
by sometimes more than 20%, and in a slower housing market with less an offers-over price originally, but your
meaning that homeowners could properties available to choose from – solicitor may advise you to move to a
walk away with a very healthy profit. but is completely understandable, if fixed price if the market means your
you’re not sure if your home will sell home isn’t selling as quickly as you’d
It would be natural for homeowners for 5% or 15% above its Home Report like. It’s a great option to have, to refresh
to therefore expect a similar result valuation. Setting a fixed price means your property online to new buyers and
as to what has been reported on you know exactly what to expect for let prospective buyers know that you’re
in recent years, but as with many your property, allowing you to work out serious about selling and want to move
things, situations and scenarios your budget faster and begin the search quickly – all very attractive elements!
change, and the property market for your next home quicker.
ebbs and flows. As ever, it’s imperative to trust your
Speaking of speed, listing your home solicitor estate agent to choose the
In the current market, it’s less likely for a fixed price may also result in a right pricing strategy for your property.
that a property coming to the market speedier sale. A fixed price property With access to in-depth local market
will attract premium overbids, like it is an attractive prospect for buyers knowledge, they will know what should
may have done a year or two ago. who want to move quickly – no threat work best for your home and your
Every property is different, and your of closing dates or holding out for circumstances – so don’t close your
solicitor estate agent will be able to premium bids, just a straightforward mind to the prospect of a fixed price,
guide you on your own individual offer and acceptance is all that’s it could make for a smoother, speedier
circumstances, but generally (and as required. A speedy sale also makes you journey to your next dream home.
you’ll see from this month’s House more attractive as a buyer for your next
Price Report on page 14), properties home, so it’s certainly worth considering
are selling for much closer to their in a slightly slower market, if you’re keen Are you ready to sell your home? Head
Home Report valuation. to get a move on (as it were). to espc.com/selling to get started.

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