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Selling property in a buyer's market
Last month I gave some recommendations for purchasing property in a buyer's market. This month I will look at selling property in a buyer's market.
As a seller, be realistic with your asking price. If you have to accept a lower offer for your own home, it does not mean that you should lose out. In fact, if you are selling because you want to move up the property ladder, make a lower offer on your next home too.
You could even gain in cash terms. Let's assume your house is on the market for £400,000 and your next property is for sale at £650,000. If you agreed to sell your home at £380,000 (5% off), then make an offer on your next one for no more than £617,500 (5% off minimum). You could gain at least £12,500 (subject to your negotiations).
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Laurent Stadelmann - The Property Finder & Adviser
Managing Director - Chez-Vous HomeSearch
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