Posts tagged ‘Alan Sugar’
Follow these tips and you’ll be channelling your inner Alan Sugar when dealing with price negotiations of the home you are selling, writes Jessie Hewitson
Haggling is a skill most Brits do not possess. Drop us into a Moroccan souk and we’re useless. Our embarrassment over talking pounds and pence means we’d far prefer paying over the odds then – horror of horrors – talk money. So it follows that negotiating how much we’re willing to accept for our home is not when we are at our most confident. Below are some tips to guide you through the price negotiations:
An initial offer these days is usually between 5 and 10 per cent below the asking price.
The higher the demand for property in your area, the more money you will get. So when interest rates are low and your neighbourhood is going up in the world, you are in a good position to bargain hard. The moment you see some half-rotting purple sprouting broccoli in your local green grocer – or, even better, organic deli – you know you are on to a winner house price wise.
Selling in late summer – when demand is usually very high as people return from their summer holidays refreshed and ready to tackle finding their new home – is a good idea as supply of buyers will be up.
Get your price right. “If you have set the value of your property at the right level for your area you can be fairly relaxed in holding out,” advises Christopher Jones, head of business development at Fraser & Co agency.
In the current market, it is best to price your property competitively. Far better to start low then let competitive bidding raise the price, then starting high. It’s all about the perception of a bargain.
Even in today’s strengthening market place, asking prices can be hard to achieve according to James Wyatt, of Barton Wyatt agency. He recommends remaining polite but firm and offering sweeteners with the sale to bump up the price. “Carpets, curtains, white goods, sheds….producing receipts for expensive quality items that are part of the sale can help. And if all else fails, offer to remove the property from the market for a set period of time to help the buyer sell their property if needs be or allow time for legals,” he says.
If you make a counter offer and the buyer refuses to increase his or her offer, hold your nerve, recommends Alexandra Gosling, director of low cost agency Housesimple.co.uk. “You may well find if the buyer really wants the property, they will come back with a better offer – particularly if they hear another buyer has shown interest, and they could lose the property.”
Most of us will have an estate agent – a professional haggler – overseeing the negotiations. Be aware, however, that while most agents will try and get as a high price as possible for you, there will also be a desire to sell the property as quickly as possible.
**UPDATE (15 May 2013) – check out the 2013 Apprentice House here **
UPDATE: This year’s house is a £2.1m upgrade on last year’s house.
The Apprentice is back on the small screen and so the scramble begins (for us at least as we’re a little nosey) to unearth more info about where the swanky pad is that the
16 15 14 lived in during the filming.
Episode one told us it was in Bayswater, narrowing down the field from 2.9million homes in London to just 12,572 homes in Bayswater or 125 streets for us to search.
Sorting streets by value in Bayswater on Zoopla shows that of the 125 streets, 38 of them have an average property value over £1m with the average property value in Bayswater standing at £758,848.
So street by street we looked at them via Streetview on Zoopla and a little while later we stumbled across it.
The house is number 18 Porchester Terrace with a current average value of £6,590,171 and has 8 beds, 6 baths, 3 receptions with the average value on the street standing at £1,570,484.
We don’t yet have any internals, so you’ll have to watch the show!
This year’s Junior Apprentice has been rebranded as the Young Apprentice, but the compulsive viewing and competitive element still remains. Quick synopsis for those who may not be avid viewers – a group of 16-17 year olds are put through their paces by Lord Sugar as they compete in various tasks to prove themselves worthy of a £25,000 prize that will help them up the career ladder.
In case you didn’t know, we’re a little curious here at Zoopla and more interested in the property side of things. Earlier this year we revealed where The Apprentice (Junior’s big brother) house was located – and we’ve struck gold again thanks to the Zoopla Property Archive and bring you the Junior Apprentice house which is located on Hamilton Terrace, London, NW8 where average property values are £1,591,377.
It’s a significant property that’s had a serious refurb a few years ago. No expense has been spared on the refurbishment which provides 6,900 sq ft / 641 sq m of exceptional living space and features a 110 ft south west facing garden. What is interesting is that according to the Zoopla Property Archive we are able to tell you that the property was listed for sale back in February of this year with a hefty £15,750,000 price tag. What we’re not sure of is whether it actually sold – we’ll try and find out.
The property features include:
Lower Ground - His & hers studies, Kitchen/Breakfast area, Cinema, Sitting Room, Laundry
Ground Floor - Dining Room, Drawing Room, Sitting Room, Wet Bar (can anyone help us with that), Staff bedroom (ensuite), Garage
First Floor - Dressing Room, walk in wardrobe, Sauna, Master Bedroom with balcony
Second Floor - Four bedrooms – all ensuite
So, what do you think of the property? Let us know in the comments below.
For those of you who haven’t watched or heard of the BBC One programme Junior Apprentice (Wednesday nights), essentially it’s the same format as its older brother (The Apprentice), where two teams compete in different challenges and one member of the losing team ends up on the receiving end of Siralun’s “You’re fired!”. However the twist is, in this edition the subjects are 16-17 years old. Think of it as a (scary) glimpse into the future of business leaders!
Unlike the adult version, there is less at stake. Instead of a £100k salary, these budding (three have been fired so far) entrepreneurs will win £25k to put towards starting a business with Siralan as mentor, who interestingly shows a far softer side and raises a few smiles from time to time!
Anyhow, here is a little more on the format of the show…we’re more interested in the property the 16-17 years olds get to inhabit!
The house they stayed at during filming was 38 Highbury Place, Islington, London and here is its home on Zoopla.co.uk.
So, what do we know about the house and area?
Well, we value it at £3,111,567 and it’s clearly been recently gutted and modernised, judging by the Google Streetview photo and the shiny interior we see on the show. There are a number of sold prices ranging from £290k for Flat 3, 1 Highbury Place which was sold on 15th Jan 2009 to £3,686,000 for 17 Highbury Place sold on 24th Aug 2007 (all this info is on Zoopla.co.uk).
Number 38 is part of a terrace designed by James Spiller, which was built in 1774-75. The freeholder made a covenant to ensure the land facing the terrace (Highbury Fields) could never be built on.
We also believe that No.22 Highbury Place was the home to Charles, the character played by Hugh Grant in Four Weddings and a Funeral (thankyou Wikipedia).
If you know anything about the property or area, please let us know below.
In terms of current values…
The average home value for Highbury Place is £983,915. Average values for N5 (£498,309) have risen by 5.7% over the last 12 months (£26,867) and in the last 12 months the average house price paid in N5 was £457,446 with the number of property sales at 235 over the last year.
Here’s the market overview for N5 from Zoopla.co.uk.