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Refundable Holding deposit Capped at 1 weeks rent
Security Deposit Capped at 5 weeks rent for annual rental under £50,000, or 6 weeks rent for annual rental over £50,000
Rent The agreed monthly rent
Changes to tenancy Capped at £50 inc VAT
Early termination charge Not exceeding the landlord’s financial losses
Late payment of rent Interest of 3% above BoE base rate for each day the rent is late, once it is 14 days overdue
Replacement keys Reasonable costs or give the tenant the option to purchase themselves.
Utilities, council tax, communication services, TV Licence etc Tenants own responsibility unless otherwise stated in contract
Client Money Protection Scheme
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Property Redress Scheme Membership details Membership number D8870
DPS Deposit proctection Scheme Agent Number 1581837
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Valuation versus true value

Estate agents’ market valuations are usually free, and because of this, it is very tempting for prospective sellers to invite a number of agents to comment and then select the agent that suggests the highest likely sale price for the property. However, we advise caution on this issue.

Beware of agents over valuing
Some agency “valuers” are paid bonuses on the number of new instructions they secure, irrespective of the saleability of the property offered at their suggested value. The easiest way for an estate agent to win your business is to simply suggest a flatteringly high figure. Unfortunately, many people who fall into this trap live to regret it.

One of the problems is that most people have only a cursory idea of what estate agents actually do and, just as importantly, the values they cherish and the service they offer.

Ironically, it tends to be the cheaper, untrained or inexperienced agents who quote the highest values, yet it is the well-trained, experienced agents who have the skills to secure the best prices for their clients in the most convenient timescale.

But who should you pick to market your property?
When selecting your estate agent, by all means invite several to comment on value, but then choose the ones who demonstrate mastery, and who actually have a marketing plan in place, along with superb post-offer follow-up facilities.

Additionally, find an agent that you like! One who has the integrity to offer straight-talking advice and who uses superb communication skills to keep you informed every step of the way, before, during and after the sale, minimizing the stress of moving.

In estate agency, a high valuation does not necessarily mean you’ll get more for your property, nor does it indicate a high-value service! The agent you rate most highly will probably also be the one who suggests the correct asking price.

If you’re looking for straight-talking advice on how to sell your property simply:

  • Call me on 01304 251425
  • Drop me an email at john@tapestates.com or
  • Register for Property Alerts here

I’d be happy to help