Expert Advice Buying & Selling

Choosing an estate agent

Knowing how to spot the good estate agents from the bad is not always simple and choosing the right company to entrust with the purchase or sale of your home can sometimes be a shot in the dark. However, arming yourself with the information below will hopefully make the task a little easier.
This article covers:

• Knowledge and expertise
• Weighing up the cost
• Placing your property with confidence
• How are you protected?
• If you are a buyer

Knowledge and expertise

Although it may be tempting to have a stab at selling your home yourself, a good estate agent will generally be able to obtain a higher price for a property than a vendor would chancing their arm. By employing an agent, you are also investing in the hours, expertise and negotiating skills necessary to sell your property.
When it comes to choosing the agent for you, have a look at which has the most 'for sale/sold' boards in your area. On visiting their offices, find out how long they have been in business - at least five years is a good yardstick; if they have polite, friendly staff, who are knowledgeable about the local area; and whether they utilise comprehensive marketing strategies like newspaper advertising, signboards, leaflets and the internet.

Invite three or four agents to value your property.

Talk to the agents, get a feel for the place and the people working there or pose as a mystery shopper. Put forward a few scenarios and see what they have to say. Compare the local agents and see who comes out best in terms of what you want.

Weighing up the cost

When it comes to the agent's fee (usually between 1% and 3% of the total sale price), don't automatically plump for the lowest charge. An agent who probably has the best ability to sell your property will have to carry the cost of well-maintained premises, experienced staff, efficient computer systems and professional advertising.

Placing your property with confidence

It's important to know any estate agent you use can be trusted. Look out for members of The National Association of Estate Agents (NAEA). The NAEA works to a voluntary code of practice.

The NAEA now operates a Technical Award, meaning there is a minimum entry standard for new members and this is driving up standards within the industry.

Also working to improve the standards of estate agencies is the Ombudsman for Estate Agents (OEA), which gives buyers and sellers improved access to redress in the event of a dispute with an agent.

How are you protected?

The Department of Trade and Industry is proposing a compulsory independent ombudsman scheme to give those who receive poor services from agents a chance to seek compensation, plus stronger powers for the Office of Fair Trading (OFT) to investigate and fine rogue agents. The OFT can, at present, ban people from acting as estate agents if it considers them unfit to carry on working. All agents must comply with the Estate Agents Act 1979 when acting for people who are buying or selling property. The Act doesn't cover the letting of properties.

Legislation is weighted in favour of protecting the seller against sharp practice. If you're buying via an estate agent, the Estate Agents Act offers the following legal protection:

• Although estate agents acting for sellers don't have to reveal defects in a property, they do have to answer buyers' direct questions accurately. If you're given false information, you might have a claim against the estate agent under the Property Misdescriptions Act. Sellers themselves are not covered by the Property Misdescriptions Act but if they give you false information about a property, then this may be a misrepresentation and you could seek damages.
• Estate agents must pass on your offer promptly - and can't hold back your offer simply because you don't want to use their other facilities, such as arranging a mortgage.
• An estate agent is not allowed to invent offers on a property in order to force the price up.
• Estate agents must use clear contract terms and reveal any financial interest that they have in a property you're looking at.

If you are a buyer

As a buyer, it is worth remembering that estate agents are there to arrange the sale of a property on the seller's behalf, since they make their living out of the commission they charge the seller. However, it is in their interest to make the process as easy as possible for the buyer, who they must ensure is in a position to get the funds for the property. If they do not have a mortgage, they can recommend a broker, building society or bank.

How to move home with ease

Moving home is regularly listed as one of life's most stressful events, with so much to arrange, oversee and do - from securing a parking space for your removal van to reading the meters. Here's our guide to moving house the easy way.

This article covers:

• Dump the junk before you move home
• Who will move your belongings?
• Getting the most from the removal company
• What the removal company will need to know
• Moving home - the DIY route
• What to prepare in advance
• Moving day
• Don't forget to...

Dump the junk before you move home

Before you move get rid of your unwanted junk. This can be a daunting task if you're a hoarder, so concentrate on one area at a time. Make three piles: 'keep and use', 'give away or sell' and 'keep and store'. Turn unwanted items into cash at a car boot sale or on eBay, and give the rest to a charity shop. Invest in a shredder to deal with old paperwork.

Who will move your belongings?

Using a removal company is often best. Get several quotes from moving companies and bear in mind that two-thirds of moves happen on Fridays, so midweek may be cheaper and less stressful. If you can, plan your removal four to six weeks before your move date; do not wait until the exchange of contracts, which can sometimes be the same week as your completion date.

Getting the most from the removal company

Many removal companies will pack your items for you as well as transport them, although this will cost extra. Make sure you know what service you're getting for your money. Once you have verbally agreed to use a company, a written quotation will be sent with an acceptance form for you to sign and return.

What the removal company will need to know

Let the removers know the amount of furniture you're moving; a rough guess of how many boxes they need to pack (if required); and the exact time you want the team to arrive on the move day itself. You also need to provide clear instructions and directions to your new property. Be sure to arrange a parking space for the removal van outside your new home and notify the removal company well in advance of pieces of furniture that won't go through any access doors.

Moving home - the DIY route

Make sure you hire a van big enough to accommodate your items in one trip. It's often cheaper to hire vans on weekdays but if you move at the weekend, you may be able to make the most of special two-day rates. Enlist some help - friends or family can often be persuaded by the promise of a drink or two at the end of the day.

What to prepare in advance

It's worth packing an 'essentials' box that you can have instant access to when you get to your new home. This should travel with you and not with the removal team and is a great idea if you a relocating some distance. The box could include:
a duvet, cleaning materials, sheets. a change of clothes, towels, a mobile phone and charger
a kettle, money, coffee and tea, food, toilet rolls disposable cups, soap, sugar and powdered milk

There are some tasks you'll have responsibility for, such as dismantling self-assembly furniture and taking down curtains, fixtures and fittings. Wrap houseplants in newspaper to protect them from draughts and to prevent leaves from bruising. Once at your new property, stand them in the warm and don't unwrap them until all of your items have been moved in.

Moving day

Make sure that children and pets are taken care of elsewhere and ensure that all essential documents are kept on your person.
Everything will be loaded onto the back of the van and secured. Your home will then be checked thoroughly before the removers head off to your new home.

Don't forget to...

• give your removal company a mobile number for you on the removal day
run-down your freezer and fridge contents
disconnect your mains services
cancel all rental agreements
notify all essential contacts of your new address
redirect your post
clear the loft
label boxes with the name of the room they are to be placed in your new home
cancel home deliveries like milk and newspapers
drop your old keys, and spare sets, at the estate agents
send change of address cards to friends and relatives
leave valuable items and important documentation with someone trustworthy so they are not lost in the move

Buying a property at auction

Property auctions in the UK are a good place for investors on the hunt for a cheap house or flat to buy. Property auctions are also ideal for people wanting to avoid property chains or those who want a home in a hurry.
This property auction guide explains:-
• What to expect at a property auction house in the UK
• When buying property at auction is a good idea
• Why a trial run is a good idea
• How to put a value to a house or flat at auction
• What to bear in mind on the day of the property auction

What to expect at a property auction house

You will usually pay a 10% deposit immediately after the property auction. In addition, you will sign the contract in the saleroom
• Take proof of identity, such as a passport, to the auction house
• You are also legally committed to pay the remaining 90% of the property price and complete within around 28 days. If you fail to complete within that time, you will lose your deposit and could be sued for any losses made by the seller.
• Don't bid at a property auction if your purchase is dependent on the sale of another property on which the contracts have not been exchanged.
• On signing the contract at the auction house, you will also be responsible for insuring the property.
• You will have to pay the auctioneer on the day of the property auction.

Property auctions can be helpful in slow markets

If the property market is slow or you have had your house or flat on the market for some time, selling at a property auction could get your property chain going.

Have a trail run at a property auction in the UK before you commit

Your first time at a property auction will be daunting, with crowds, noise and a real buzz. It is best to visit a few before you actually intend to buy a house or flat. It's also important to do your research before you attend a property auction with intent. Familiarise yourself with prices for property types in your chosen location. The Essential Information Group works with over 150 different property auction houses across the country. This online property auction site offers some of the most up-to-date property auction data on the market. Its online auction services include price listings for past property auctions, as well as catalogue details for UK property auctions.

Get a survey done prior to the property auction

Auctioneers' catalogues are usually published three weeks before the UK property auction and provide the dates and times for property viewings. This is the best time to get a survey to find out the true condition and value of a house or flat you are interested in buying at the property auction. The Royal Institute of Chartered Surveyors can help you find a reputable surveyor. The survey may also point out enquiries you should make, specialist reports you should obtain and areas of expenditure for repairs. You should also instruct your solicitor in relation to searches, the title deeds for any covenants or restrictions, and leases.

How to put a value to a house or flat at auction

Ask a chartered surveyor to quote you the maximum price you should pay for a flat or house you intend to bid for so you don't pay over the odds. In the catalogue, you will also find a guide price for each property. Beware - this will be pitched low to entice bids. Remember to take account of additional costs, like fees for professional advice and stamp duty.

Reminders for the property auction day itself

• Make sure you are up to date with any changes to the original details of any property you are interested in - these are often announced on the day of the auction
Ensure your bid is heard over the noise in the auction room
Don't open the bidding at the property auction. When you do enter the bidding, make a substantial increase on the previous offer to gain a psychological advantage
Agree a discretionary bid one bid more than your max limit. But don't get carried away in the auction house frenzy
Look for signs that the auctioneer has reached the reserve price - he'll say something like "we're here to sell."
If a property remains unsold, speak to the property auctioneer to register your interest - lots of deals are struck by private treaty at a price agreed with the vendor.