Tips of the week - Resident broker

Here's a couple of tips from our Resident Broker. He's more than a pretty face....I particularly like Tip 2, relevant for any landlord looking at selling at the moment.

Tip of the week 1: Estate Agents overcharging for HIPs

BBC’s Watchdog has revealed that many vendors are being charged excessive amounts for Home Information Packs. In some instances up to £500 when a competitive cost would have been nearer to £200. So, the moral of the story is - don’t use an estate agents HIP, but go to low cost providers like http://www.hips4u.com/ and save yourself some money. There are many others if you would like us to point you in the right direction.

Landlord insurance - discounted - instant quotes

Tip of the week 2: Selling a property? Then consider this a gift

Many investors are still buying and then selling in this current environment, so here’s a tip for them. If your target market are primarily first time buyers, then consider offering them a 5% gifted deposit as part of the sale. Most of the major lenders are happy with this, and it means the first time buyer doesn’t have to save as much deposit – which is certainly one of the big issues for them at the moment. Consider this, a £100,000 property being offered at £100,000 with a 5% gifted deposit is much more favourable that just reducing the price to £95,000 as they can effectively buy the house for half the initial outlay.






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