Get your house valued

The first thing to do when considering if to sell is to get your property valued. You need to know how much your current property is worth and how much equity you have.

It is normal to speak to two or three estate agents before deciding which one to instruct. It is best to choose the agent who has the greatest chance of selling it, usually the one that offers the highest impact marketing and best service. Don’t always choose the agent who values it the highest and charges the lowest fee as they may not be capable of selling it.

Home Information Pack

When you have selected your agent, you will need to commission and pay for a Home Information Pack before your property can be marketed. Your estate agent will normally arrange this for you.

A few days later a Domestic Energy Assessor will visit your property to complete the Energy Performance Certificate (EPC).

Viewings

Once on the market your estate agent will be working hard to generate viewings. It is best to choose an agent who accompanies viewings, as the agent will normally know the requirements of the prospective purchaser. After the viewing you should expect feedback.

Do not stipulate who can and cannot view your property. Some sellers insist on only buyers, who are in a position to proceed, can view their house. In a less active market, this can restrict the number of viewings. Do allow people with properties to sell to view too, as they may sell themselves a few days later, converting them into good prospects. If you do not allow viewers with properties to sell through your door, they may not come back to view when they have sold.

Offers

We negotiate with your prospective buyer until we agree a figure that you are both happy with. Unsuccessful offers will be acknowledged in writing. If you accept an offer and are intending to buy another property, this is the time to start viewing in earnest and submit an offer.

Instructing a solicitor

Once you have accepted an offer you will need to instruct a solicitor to act for you. A licensed conveyancer will do the same job but they specialise in the legal transfer of property or land only. We can offer you recommendations of various solicitors or conveyancers from our selected panel. Each firm is recommended on the basis they will offer prompt service, a speedy return of phone calls at a competitive fee.

The legalities

Your solicitor will send you a Sellers Property Information form to complete. This is a series of questions relating to the property and how you use it, along with details or mortgages or loans that you may have secured against the property. You will need to provide warranties or guarantees, building regulations and planning permissions for any works or modifications carried out.

You will also be required to complete a Fixtures & Fittings list, which outlines exactly what is going to stay at the property and what you will be taking.

In the meantime a surveyor or valuer should be carrying out a valuation on your property in order for your buyer to receive a mortgage offer.

Your solicitor will send a draft contract along with other supporting documents to the buyer’s solicitor to approve and then raise enquiries. Your buyer’s solicitor will also apply for searches and satisfy the mortgagee’s conditions.

Exchanging Contracts

After you have signed the contract your solicitor will be in a position to exchange them. This is the point of no return and when you and the buyer are legally bound. A completion (moving) date is set at this point. If you are making a related purchase your solicitor will exchange contracts on your new house at the same time so that you are not left with two houses or no house at all.

Moving Day

Also known as completion. This has to be a weekday and not a public holiday. This is the day that your solicitor receives the purchase monies from your buyer’s solicitors and pays off any mortgages or loans you have secured on your property.

You will need to clear all your possessions from the property including any rubbish, read your meters and give the keys to the estate agent. These will not be released to your buyer until your solicitor is in receipt of the purchase funds.