When we first visit you, you'll receive an individual property marketing review which shows you what steps you need to take to get your property sold or let. You'll also receive a carefully researched, honest valuation of your property based on comparable to let or for sale properties. Your review shows how we have determined the right marketing price for your home. You will not be given an over inflated valuation to attract your business. Any fees will be discussed with you right at the beginning so you will know precisely how much you will pay for our high class service.
We will advise you of an upper and lower price level, which normally allows some latitude for negotiation. We may suggest that you embark on a pre-marketing campaign, whereby we 'test the water' with selected purchasers, who we feel may be best suited to your home. Formal marketing will commence with the preparation of a printed colour sales brochure often with floor plans and an EPC. We will commence by contacting various registered buyers that we feel may be suitable for your home.
We advertise in the local media, particularly the Hampstead & Highgate Express, the Hendon & Finchley Times Group, our own Fabric Magazine, The London Property News, Totteridge & Mill Hill Life and Hadley Wood Life. In addition, your property will be promoted on our website and other property portals, including Rightmove, Prime Location, On the Market, Homes 24, Property Live and Fabric online. Should you require specialised tailored marketing, including the production of a glossy brochure or specialised advertising, these will be agreed in advance and charged for separately. Most viewings will be accompanied by a member of our negotiating staff, both from a security aspect and because we find that we receive more honest feedback than our clients would receive directly from applicants.
Marketing methods do vary, dependent upon the type of property and the interest that we receive. For instance, we sometimes advise our sales clients to sell by informal tender. This is a method whereby best bids will be submitted within a specific time frame and considered by the vendors on a due date. Additionally, we may recommend asking for 'offers in excess of' a certain figure, particularly if the property is unmodernised and the full potential is not immediately obvious. Whatever method you choose, you are assured that all our negotiators are experienced enough to advise you correctly in any given circumstance. Our negotiators tend to work with their own applicants, building up a rapport, sometimes over many weeks and months with each potential buyer. Our buyers are assessed not only on the offers they make, but also on their ability to purchase, an aspect that is often overlooked. For example, sometimes it is wiser to consider a slightly lower offer from a non-dependent or cash buyer, than from somebody involved in a chain.
In order to ensure that the best possible advice is given at all times, all offers and negotiations are supervised by the Partners. Once a sale has been agreed, we often recommend a 'lock out' agreement for a specific period of time. Whilst Godfrey & Barr normally continue to show the property, the vendor may agree not to enter into negotiations with any other buyer. This should avoid 'gazumping' whereby the vendor accepts a higher offer, having already accepted the first offer. It also concentrates the purchaser's efforts to proceed to exchange of contracts within the required time frame. We feel that it is fair to give the buyer a reasonable time frame to work to, given the requirements of the seller, knowing that providing they perform as agreed, they will not be unfairly dealt with.
Our normal fees for sales are 2% of the sale price for a sole agency or sole selling rights. We charge 2.5% of the sale price for joint sole agency or joint sole selling rights and we charge 3% for the sale price for a multiple agency. All charges are plus VAT at the prevailing rate. Our fees for rentals are 8% for sole agency or sole letting rights and 10% as multiple agency. If you require a management service, we charge an additional 7%. All fees are charged annually for each renewal of a tenancy. Our full terms and conditions are available upon request. All charges are plus VAT at the prevailing rate.
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