With the dreary weather, short days and long nights, it can be hard to find the motivation to make the decision to sell your house. But there are great benefits for the brave few who take the plunge! You get a big head-start on those waiting for the perfect pictures in spring or summer, as well as the high demand from ‘New Year, New Home’ buyers.

So here’s just some of the reasons we think January is an awesome time to sell your home…

Serious Buyers Only

In the winter months, most people (maybe sensibly) are hunkered down in front of the fire and the TV. Only those who are ready to buy a property are out hunting at this time of year, saving you the hassle of getting your house ready for viewings for people who have no intention of buying.

Blow Away The Competition

Most houses on the market in January have been on for some time and failed to sell. Creating a new listing for your property in January will allow your property to stand out compared to other stock on the market.

 

Get A Head Start

Listing your property in January gets your nose in front of the ‘Spring Rush’, typically a busy time as people wait for the perfect time to photograph their property. 

In the spring and summer the property market becomes inundated with new properties, making your house just one of many for sale. However, at the start of the year there is a period of high demand and low supply, meaning your property can stand out from the crowd and has less chance of getting lost in the listings later in the year.

 

Quieter Market, Quicker Results

The period immediately after Christmas is generally the quietest for estate agents, mortgage brokers and conveyancers, leaving them free to give you additional attention. Depending on your situation, in particular the length of your chain, you could find the money from your sale landing in your account far sooner than you would in Spring or Summer.

 

Why Quinn Legal

So there you have it, there’s just some of the reasons we think January is a great time to sell your house on the Isle of Man. 

If you are looking to sell, Quinn Legal has an awesome team of conveyancers dedicated to making the legal process as smooth as possible. As well as our awesome team, all of our clients have access to our fantastic app which has a bunch of amazing features including digital onboarding and live updates, so you’re always in the loop! Better still we have a special ‘New Year, New Home’ offer for our clients to celebrate the new year, details below!

 

New Year, New Home

To celebrate the beginning of a new year, we’re offering all new conveyancing clients 10% off if they instruct Quinn Legal before 31.01.2023! 

So what are you waiting for, start looking for your dream home today!

 

Chat to Our Conveyancers

When you’re looking to buy a home, timing is everything. Luckily for those looking now, January is a great time to be in the market. Not only will you be able to see how your prospective home copes with the wet, wind and cold that we are accustomed to on the Isle of Man, you might get yourself a great deal in the process!

So here’s just some of the reasons we think January is an awesome time to buy a home…

 

Chat to Our Conveyancers

Lower Prices

Let’s start with the biggie. The average house prices are at their lowest at the start of a new year. Over the past few years, the average price has been up to £20,000 cheaper in January than in July.

Generally speaking, many of the houses on the market in January have been listed for longer than at other times of the year. The length of time a house has been on the market has a direct impact on the closing price, with sellers often being more willing to settle for a lower price.

So if you want a bargain, house-hunt in January!

 

Lower Competition

With a majority of buyers looking to move in Spring and Summer, in the winter time you’ll find far less competition. You’ll have more time to make your mind up on a property and there’s a lower chance that you’ll be gazumped and forced into a bidding war.

 

Weather-proof?

We all know the *cough* less than tropical *cough* weather conditions that hit the Island in January. Viewing a house during winter will give you the perfect insight into how the house deals with the wet and cold, meaning there’ll be no nasty surprises after you move in. However, make sure you visit during the day to take a good look at the exterior of the property!

 

Quieter Market, Quicker Move

The period immediately after Christmas is generally the quietest for estate agents, mortgage brokers and conveyancers, leaving them free to give you additional attention. Depending on your situation, in particular the length of your chain, you could find yourself moving into your new home far sooner than you would in Spring or Summer.

 

Why Quinn Legal

So there you have it, there’s just some of the reasons we think January is a great time to buy a home on the Isle of Man. 

If you are looking to move, Quinn Legal has an awesome team of conveyancers dedicated to making the legal process as smooth as possible. As well as our awesome team, all of our clients have access to our fantastic app which has a bunch of amazing features including digital onboarding and live updates, so you’re always in the loop! Better still we have a special ‘New Year, New Home’ offer for our clients to celebrate the new year, details below!

 

Meet The Team

 

New Year, New Home

To celebrate the beginning of a new year, we’re offering all new conveyancing clients 10% off if they instruct Quinn Legal before 31.01.2023! 

So what are you waiting for, start looking for your dream home today!

 

Chat to Our Conveyancers

Buying a home, whether it be your 1st or 21st, is an exciting, if not exhausting time!

It’s easy to become overwhelmed with all the opportunities to buy there are the Island, however your friends at Quinn Legal have pulled together some top tips to make sure you find the best property for your personal circumstances.

 

Your Budget

The biggie!

Your budget has to be the starting point when considering buying a home.

The best strategy is to have your deposit ready to go. The amount of deposit you need will depend on your mortgage lender. Some lenders will ask for a higher deposit than others, but usually the minimum needed is 5-10% of the property price.

Obtaining a mortgage decision in principle before you make an offer on a property puts you in a strong position as it indicates to the seller that you are ready to proceed without delay and that you are a serious buyer. The mortgage application process can take some time, so it is worth dealing with this as soon as you decide you are ready to start looking for a home.

Remember there are numerous other costs involved in buying a property including search fees and the Land Registry’s charge for registering your ownership.

As well as arranging a mortgage decision in principle, you should also line up a solicitor to act on your behalf in the purchase. If you find someone in advance of making an offer, then as soon as your offer is accepted you will be able to give the estate agent the lawyer’s details so that the seller can send the contract documentation and property information to them as soon as it is available.

Once you have an idea of how much you can borrow and how much the related costs are going to be, you’ll be on great footing to decide your budget!

 

Location

You’ve heard it before; “Location, Location, Location!”

It’s arguably the most important thing to look for when you’re on the hunt for a new home. The definition of a great location is unique to everyone; do you want a bustling environment with shops, bars and restaurants? Or do you want tranquility, a place to get away from it all?

There’s no right or wrong answers, but make sure to consider all the practicalities of any potential location.

Other things to think about

• Is the local school well rated?
• Can I walk to the shops if I need some groceries?
• Are there good transport links?
• How long is the commute to work?
• What are the people like in the local area?
• Are there green spaces nearby?

 

Size

How much room do you and your family (or future family!) need to live in comfortably?

The answer to this will depend entirely on your circumstances; maybe you’re a busy single-professional who needs somewhere cosy and low maintenance, a newly married couple looking for a home to build a family in, or you’re retiring and want to downsize.

Ideally the home you choose should be flexible to your ever-changing needs, but always consider the potential resale value should your needs outgrow your house.

 

Quality

Everything about a home, from the building materials to the fixtures and fittings, determine how nice a home will be to live in.

Practicality and functionality are the main things to consider if you want to avoid having to do serious levels of work prior to moving in. Try and minimise the effect taste has on your final decision, positively or negatively. Remember that paint and wallpaper is easy to change, bricks and mortar are not!

 

In summary

By preparing for the purchase of a house or flat before you start searching you are giving yourself the best possible chance of buying your dream home once you find it. You can also make sure that any hitches are sorted out beforehand, for example, by providing all the documentation a mortgage lender requires.

In a sought-after area such as the Isle of Man, advance preparation is essential to put you in the running in a competitive marketplace.

 

At Quinn Legal we help our clients from day one

If you are buying or selling a property and would like to speak to one of our expert property team, please feel free to ring us on 01624 665522 or email us: hello@quinnlegal.im.

Alternatively, you can Make An Online Enquiry and one of our team will be in touch with you as soon as possible.

If you are buying or selling a property, you may encounter delays at various points in your conveyancing transaction. We take a look at some of the most common causes and what you can do to try and avoid them.

 

Obtaining a mortgage

Obtaining a mortgage approval and having a mortgage offer issued can take time, particularly in a busy market. It is always recommended that you apply for a mortgage in principle as soon as possible once you have decided that you are intending to buy a property.

This is a mortgage offer made by the lender before you have found a property to purchase. The lender will be able to go through your application, check all of the information as necessary and ask you for any extra information they may need. Once you have had an offer accepted, you simply let them have the details and it will take them far less time to issue their offer because they already have most of the information they need.

 

Instructing an advocate

Whether you are buying or selling, it is a good idea to find yourself an advocate early on. This will give them the opportunity to open a file for you and start carrying out the identity checks that are required by law. If you are selling, they will be able to let you have the property information and fixtures and fittings forms for completion so that the contract papers can be issued to your potential buyer as soon as you accept an offer.

 

Issues with the property revealed during the survey

Ideally, you should ask for your survey to be done as early as possible in the process, as surveyors may not be able to fit you in straightaway. Your survey results may reveal work that needs to be carried out to the property. If you are buying, you should ask builders to provide you with a quote for the work so that you can use this as a basis for renegotiating the purchase price, where necessary. All of this takes time, so it is important to try and move it along as quickly as you can.

 

Legal problems or missing paperwork

Your advocate may find issues relating to the legal title to the property or that some of the paperwork is missing. An experienced advocate will know how to deal with this and will move to resolve issues without delay so that the problems do not hold up your move. If difficulties do arise,

you will benefit greatly from having a genuine expert in residential property acting for you who is likely to have encountered the same problem before and who will know how to deal with it quickly and efficiently.

 

A slow-moving chain

The longer the chain, the bigger the likelihood that your transaction might move slowly. Your advocate will be able to keep in touch with your buyer’s and seller’s advocates to keep the pressure on and check whether there are any potential delays that need dealing with. Your estate agent should also be able to ring up and down the chain to check on progress.

The key to avoiding hold-ups is communication, so that any issues can be tackled as soon as possible and not allowed to drag on.

 

Contact our Isle of Man Isle of Man residential property lawyers

At Quinn Legal, our residential conveyancing team are highly experienced and we always do all we can to ensure transactions proceed quickly and efficiently.

If you are thinking of buying or selling a property and you would like us to represent you, please give us a call. To speak to one of our expert Isle of Man residential property advocates, ring us on 01624 665522 or email us: hello@quinnlegal.im.

 

About Eleesha

Eleesha handles all of our property enquiries.

She’s the first friendly voice you’ll hear at Quinn Legal.

Click her photo below to find out more!