Selling Up and Moving On

Summary: If you're planning on selling up, shipping out and moving abroad these top 10 tips should set you up with the right information to ensure you succeed in your overseas venture.

If you’re planning on selling up, shipping out and moving abroad these top 10 tips should set you up with the right information to ensure you succeed in your overseas venture.

Now, they do say that the whole process of house selling and moving is one of the most stressful events any of us goes through - and when you add on the whole ‘overseas’ aspect the stress levels shoot even higher!  But I would say that if you plan carefully and pay appropriate attention to detail and maintain a clear focus on your ultimate goal of relocating abroad, the whole process can be relatively stress free and smooth.

Granted, when it comes to selling, buying and moving, particularly moving abroad, there will always be factors outside your control, but those factors that fall within the sphere of your control can proceed fluidly if you take the time to plan and stay one step ahead of the game!

Following these top 10 easy but essential steps to selling up and moving on and I can guarantee you relocation success!

1. Begin with valuations and advice.

Any reputable estate agent will not only give you a home valuation for free, they will also arm you with essential advice relating to what work can and should be done on your home to ensure it sells for top dollar.

The relationship between you and your agent is a symbiotic one - he gives you the information you need to improve your home, your home is worth more, he sells it for more and increases his commission, you make more profit on the sale…

Therefore make sure you draw on the experience of a few local and trusted agents who are renowned for their selling success and invite them to come and value your home and give you their opinion on what if anything can be done to raise the value of your property to the maximum.

2. Speak to your mortgage lender.

As soon as you begin to consider the option of moving abroad you need to contact your current mortgage lender and find out what fees you will incur for early repayment of your loan.  As soon as you tell them that you’re intending to sell your home and move abroad they will give you an up to date statement of the amount remaining under the terms of your loan and they’ll tell you exactly how much selling up is going to cost you in real terms.

3. Work out your total selling and relocation costs.

To assist you with this step ask an estate agent to give you a break down of all the local fees, taxes and costs you will likely incur when selling your home.  These will most likely include at least the estate agent’s fees, a solicitor’s fees together with potential gain taxation on the profit you make from the sale.  Depending on the country you live in and whether or not the house is your primary residence, you may be able to avoid paying any gain taxation...but ensure you look into this fact before you actually sell up otherwise you could be in for a nasty surprise!  Also consider factoring in the percentage of any annual taxes or charges on your home that you will have to pay.

Now add to these expenses the costs you will incur when relocating abroad.  These may include the international removal of your furniture, they will most certainly include your travel and temporary accommodation costs and they may also include pet relocation and home contents storage fees as well as insurance.

4. Work out your budget for your new home abroad.

By taking the original valuation sum given to you by your estate agent and then deducting all of the totals from step 3 you will (hopefully) be left with a positive number!  This is your clear profit, this is what you can then use towards your relocation abroad and purchasing your new home overseas. 

At this stage, if you have additional sums saved and you wish to add them to the above to increase your purchasing power you should do so.  You will be left with an amount you can use for settling in to your new country but ultimately as a down payment on your new home overseas.

5. Consider international mortgages and if possible get a home loan agreed in theory.

Now you have to begin the arduous but not impossible task of securing an overseas mortgage or an international mortgage.  You can approach an international mortgage broker and work with him to determine exactly how much you can comfortably afford to borrow.  He will take into account many factors but these will include the country you are relocating to the amount you have as a down payment and the amount you will be earning as well as the security of the job you are moving to.  Ultimately he should arm you with a budget with which you can now work when searching for your new home abroad.

If you would like to be put in touch with an independent international mortgage specialist please use our offshore advice form to contact us and we will assist you.

6. Begin the search for your new home abroad.

As soon as you have a budget to work with you can begin the exciting process of searching for a new home.  It may seem dull to have to get all the financial facts and figures in place before heading off to find that dream house in your dream location, but by doing all the ground work first you will be less likely to fall in love with an unsuitable, unaffordable home.  You will not have set yourself up for a fall; you will once again have set yourself up for success.

7. Give your current home a makeover!

Take the advice given to you by the real estate agents and get to work with the repairs, renovations and heavy work needed to bring your house up to scratch so that it will return you top dollar when you come to sell it. 

8. Find the best estate agent.

Having already met and worked with estate agents for the valuation of your home get back in touch with your preferred agent and ask them to revalue and then market your home.  If you’re not sure which agent to choose then speak to any friends, family and colleagues in your local area who have recently bought, sold or rented property through an agent and ask for personal recommendations.  You need to feel comfortable with the agent you choose to represent you, you need to make sure they will sell your house as quickly, efficiently, honestly and effectively as possible and that they are trust worthy to be left to show viewers around your home especially if you relocate abroad before your home is sold.

Once you choose your agent go through their entire marketing strategy for your home and make sure you are comfortable with their approach and that they are going to do everything required of them to assist you.  Furthermore, ask them to revalue your home based on the work you have done to it and any market movements that have occurred in the interim.

9. Remember that first impressions count above all others!

In America they call it ‘curb appeal’ in the UK we say that ‘first impressions count.’ Know that your buyer will approach every single aspect of your house with a critical eye!  So, you have to go over every single aspect of your home with a very critical eye first!  Consider your potential purchaser’s first impression of your home and ensure the outside of your home is as clean, tidy and well presented as possible and then walk through every room and the garden and look at it with fresh eyes.  What will a buyer’s eye be drawn to, the beautiful proportions of the room or the dirty window and the vase of dead flowers?

Make time to clean, polish and present your home in the very best light possible!

10. Be flexible!

If you can be quick to react to a viewing request and flexible when it comes to a contract completion date you will be doing everything within your power to enable your buyer.  By remaining on top of the upkeep of your home you should be able to say ‘yes’ to a viewing request at the drop of a hat.  And if you remain on top of your home search and are at least mentally prepared to move out swiftly - even if this means moving into rental accommodation for a short period - you will be doing absolutely everything within your power for home selling success and you will be doing everything in your power to enable you to start your brand new and exciting life abroad!

SHARE: del.icio.us   Digg   Facebook   Google   Mixx   NewsVine   StumbleUpon   Technorati   YahooMyWeb