Buying & Selling Your Home | Advice from Phil Spencer

The latest #AskPhilMoveiQ video is here, packed full of Phil Spencer's advice!

From Japanese knotweed to letter drops to downsizing, all property questions are welcome. We look at a range of queries in this episode, so stay tuned to see if yours gets answered!

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Q1 - JAPANESE KNOTWEED
Phil shares his advice on the impact of a Japanese knotweed problem on getting a mortgage. As long as the problem has been correctly dealt with, and there is paperwork to prove it, which will often carry a guarantee, then there should hopefully be no problem with getting a mortgage but check with your lender to be certain. Find more on this here:

Q2 - DOWNSIZING
Phil shares his advice on downsizing. If you have been able to sell your property but not yet found the perfect home to downsize, it may well be worth considering to rent. In this way, you can bank the money from the sale of your property and return to the market as a chain-free buyer once you've found your dream property. Of course, this will mean you have to move two times. There's more on this topic here:

Q3 - MORTGAGE SURVEY DOWNVALUES HOUSE
What do you do when a sale price has been agreed with your buyer, but the mortgage survey values your home for £10k less and now your buyer wants to re-negotiate?
Phil's advice is to ask for a copy of the mortgage survey report. Your estate agent now really needs to work hard and come up with compelling evidence to support the value of the house that was originally agreed upon.

Q4 - WHAT TO DO WHEN YOU HAVE NO VIEWINGS
What do you do when you've only had one viewing on your property in the last six months since being on the market? Phil's advice is to perhaps change estate agents to make some difference and to also review the marketing materials, which may need to be changed. Good photographs of the property are an absolute must to drive more viewings:

Q5 - RENTING WITH PETS
What do you do when you've sold your home but can't rent as you have dogs? Phil's advice is to perhaps offer a bigger deposit or possibly an increase in rent to the landlord or letting agent, be upfront about your situation. Here's a closer look:

Q6 - LETTER DROPS
Phil agrees that letter drops can actually work. These are particularly useful if you have a specific house or street in mind that you would like to move into. Letter drops are designed to flush out potential sellers who are possibly only just starting to think about selling in the future. It may also lead to a private sale, avoiding the cost of an agent's fee, which can be very attractive to a willing seller.

Q7 - DOES KNOCKING A WC INTO A BATHROOM ADD VALUE
Phil's view is that this renovation would not add much value, however, it may make your property more marketable and attractive to potential buyers.

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