Stamp Duty Holiday Deadline – When To Sell

20th August 2020 posted in Sellers Buyers Landlords Tenants

With the stamp duty holiday in place until the 31st of March 2021, you would be forgiven for thinking you have plenty of time to arrange a property deal in that time. You do, but equally, you don’t want to wait too long.

Information provided by The Advisory states that the average time to sell a property ranges between 16 and 25 weeks. This is the time from the initial day or marketing to completing the property market. In a hot market when things are running smoothly, deals can fall into place quickly, the 16-week transactions, and in a time when things move smoothly, and there are problems to resolve, 25 weeks is a cautious estimate.

Things are moving slower right now

Of course, in the current climate, people must expect delays that perhaps outstrip even the most cautious estimate of previous times. Mortgage applications take longer, professionals must take extra care in every activity, and before you know it, the schedule for selling a home might start to hover around the 30-week mark.

From the first Monday in August, there are around 35 weeks until the stamp duty deadline. When you consider that time-frame, it becomes apparent there is a need to act sooner rather than later. If everything goes to plan, you still have plenty of time, but right now, who feels confident about everything running in the manner they would hope for.

We can help you enter the market with confidence

If you are looking to sell your home, there is no time to waste. You should start to prepare your home with a buyer in mind, and you should arrange a property valuation. You will be pleased to know Hunters Forest Hill is here to help you with both these matters. We can provide you with a realistic appraisal which helps you formalise plans for your next move, and this figure will help you enter the property market with a higher degree of confidence.

NAEA Propertymark has also issued the following tips to help vendors connect with buyers when selling their home this summer and autumn:

·         Ensure your home is up to date with safety features and measures

·         Make the condition of your windows a priority when improving your home

·         Spend some time in the garden creating a favourable and welcoming style

·         Opt for a neutral décor, keeping decorations simple so as to provide prospective buyers with a blank slate

·         If you have a pet at home, make sure all nasty pet odours are removed before welcoming likely buyers

·         Make sure all DIY repair work is taken care of

Mark Hayward is the Chief Executive of NAEA Propertymark and he said; “With housing market activity picking back up this summer after a two-month hiatus, it’s more important than ever to go the extra mile and take every possible measure to help your property stand out. If you are looking to sell your home this summer, turn to your local NAEA Propertymark estate agent to guide you in the right direction and help you ensure all new safety measures are complied with, to increase your chances of a speedy sale.”

At Hunters Forest Hill, we know selling property is challenging, but we are here to assist you in the process. If you aim to buy, sell, let your home or rent property, we are active in New Cross, Peckham, Dulwich and Brockley, in addition to Forest Hill, so get in touch with one of the top three agents in London, and we will be happy to assist you.