Are you unsure on where to start with selling your property? Read our brief guide for some tips we've given others in the same position and please don't hesitate to call us and discuss the process in more detail.
Here are all the steps that are helpful to know and prepare for:
1. Get an accurate valuation of your property
Don't just settle for the first valuation you get, try 2 or 3 agents and check on similar properties in the area you are thinking of buying in.
2. Choose an estate agent
You may want to consider the high street presence of your estate agent, are their opening hours compatible with your working hours, when can they conduct viewings for your property. Or you may choose to go with an independent agent, but it is vital to do your homework when choosing your agent.
3. Assess how your property looks to buyers
Have a look round your house and do all those little jobs that need to be done. Try to keep your property as clean and presentable as you can.
4. Put your property on the market
Your estate agent will advertise your property, and it is important that you are happy with the service they provide. If there is a photograph that you don't like then tell them because you want your property to get the best possible exposure.
5. Enlist the help of a solicitor
The smooth and efficient sale of a property can in no small part be attributed to an experienced solicitor. We recommend researching this very thoroughly; perhaps some friends can help to point you in the right direction if they have recently moved house.
6. Conduct property viewings
Many estate agents have longer opening hours to cater to clients, and many viewings can be carried out after normal working hours or at weekends.
7. Review and handle offers
When an offer is received, you will be contacted verbally and by post. Should there be any conditions attached to the offer, you will be informed as stated above. The buyer's ability to proceed will be checked before you decide to accept the offer.
8. Agree on an offer
Once you decide to accept an offer the following will happen:
• A memorandum of sale will be prepared
• Confirmation of the agreed price will be sent in writing to relevant parties
• You will then be asked to provide your solicitor's details.
9. Exchange contracts
This can occur once the following criteria have been agreed:
• Preliminary enquiries following the receipt of the draft contract
• There is evidence of a good title
• Local search queries
• Any fixtures and fittings to be included in the sale
• Any specific instructions highlighted in the lease
• The buyer's mortgage offer
The deposit (normally 10% of the asking price) will now be paid by the buyer's solicitor to the seller's solicitor once both parties have signed the contract.
10. Complete the sale
This occurs when all residual monies (normally between 85 and 90% depending on the size of the deposit) are transferred from the buyer's solicitor to the seller's solicitor. Once the funds have cleared in your account, your solicitor will call you and inform the agent to release the keys.