PLANNING TO MOVE
by Ron Hastings

Gone are the days when marketing a property involved putting up a 'for sale' sign, deciding on a brief description of the accommodation and a photograph. Although there are those that still ascribe to that theory, the smart sellers realise that to make the most of their sale it pays to do a bit more planning. The interest in the property market over recent years generated by television programs such as "Property Ladder" has led to a more sophisticated approach both by selling agents and their clients. These days we are more than likely to be called in at an early stage to give advice on what can be done to the property to prepare it for the market. Is it worth doing up the kitchen? Will I get my money back or would it be better to leave improvements for the choice of the new owner?

However it is not as simple as that as one of the strange factors in recent times has been the prices that can be achieved for properties that are in a condition which in the former years would have been classed as "unsellable". Nowadays its practically a case of "no roof - no problem!" In a perverse way the market has in some respects been turned upside down with higher prices being achieved for unimproved properties, leaving purchasers, or at least those with funds to spend, with a blank canvas and the pleasure of becoming a mini property developer. The jury is out on whether there is money to be made in developing such properties in the Borders and at the end of the day it will always depend on margins but location is crucial and a stone built property in the right location will achieve a great deal of interest whether it is in its undeveloped state or ready-to-move-in condition.

It is of course important to consider your next move and there is no point in selling a house and making yourself homeless. You may prefer to move in with relatives or to rent somewhere in the interim but you should have a plan. Many who have ended up in rented accommodation have seen the market move on and having stepped off the property ladder for a few months find they have difficulty getting on again. Whilst there is good money to be made on property you must remember that if you are buying in the same market, if you are not careful you can pay just as much again for your purchase.

There are of course buyers who are less enthusiastic about getting their hands dirty doing up property or taking on the potential headache of co-ordinating the various tradesmen this requires. However cash rich buyers, particularly from the hot spots in the South and the central belt who aspire to the nirvana of "mortgage free living" are generally prepared to pay extra for what they want. A word of caution, it pays to plan ahead ands seek advice from local experts at an early stage in the process. It can be dramatic enough moving to a different area, adjusting lifestyle and all that goes with it, without having the dream move tarnished by disputes over title issues, contractual disputes with builders and the frustrations of being unable to get anything done.

So with the property market appealing to different sectors it is important when selling a property to choose the right approach and target your marketing at those who are likely to be interested in what your property has to offer. The top property websites in the borders attract a great deal of interest and dedicated buyers are onto a property as soon as it appears on the net in the hope that they will be able to tempt sellers with a "pre-emptive offer". While any offer should be given serious consideration the benefits for buyers of generating sufficient interest to take the property to a closing date under the Scottish system has been proved time and time again as the best way to achieve the top selling price. It is not unknown for prospective purchasers having submitted an initial offer at a lower level to increase their earlier offer by over 10% and prices achieved at closing date frequently achieve upwards of 20% over the asking price set.

Whether your property is an investment or your family home the question of whether and how to market it deserves serious consideration. A little thought and careful attention to the project can pay dividends.