Selling a property can be daunting. There’s a lot to consider, both before putting your home on the market and during the sale process itself. So, we’ve put together this step-by-step guide to everything you need to consider, to help make your sale as simple as possible.
1. Understand the finances
Once you have decided you want to sell your home, the first step is to look at the figures. Check how much you have left to pay on your mortgage if you have one, and whether there are early repayment charges or if you can “port” your mortgage to a new property.
Use an online instant valuation tool to get a rough idea what your property is worth. If you want to buy a new property, research the cost of the type of home you are looking for, too, and check how much stamp duty you will have to pay.
2. Choose an estate agent
You don’t need to use an estate agent to sell your home – but it will make things much easier if you do. You have the choice of an online estate agent or a local high street agent. Compare their success rates in your area and consider their experience and local knowledge – this is key to a successful sale.
Invite at least three estate agents to value your home. Compare their fees and strategies for marketing your property to help you choose an agent and a price.
3. Get ‘sale-ready’
Preparing your home for photos and viewings can secure a faster sale at a better price. Declutter, clean and freshen it up both inside and out. This might involve giving it a lick of paint or fixing small issues.
Get yourself organised for the sale process at this stage too. Research conveyancing solicitors and decide which one you will instruct once you have accepted an offer.
Start gathering paperwork you’ll require at various stages of the sale. This includes personal documents like passports and payslips, the energy performance certificate (EPC), a gas safety certificate and documents relating to work you’ve had done.
4. Negotiate offers and contracts
An estate agent is legally required to pass on all offers to you, and you can decide which one to formally accept. Once this has happened, the legal sales process gets underway.
You and the buyer will negotiate the timescale of the process and the fixtures and fittings to be left. Your buyer may commission a survey on the property, and you should be prepared to negotiate a discount on the price should any issues be flagged up.
During this stage, a good estate agent will ensure that the sale continues to progress and will help manage communications between the various parties.
5. Exchange contracts and complete the sale
Exchanging contracts means you are legally committed to the sale. But ownership of the property does not transfer until the sale is completed.
On completion day – which will be a previously agreed date – the money changes hands, keys are handed over and your solicitor will register the new ownership with the Land Registry.
Congratulations, you have completed the sale of your property.
Contact our Andover and Whitchurch offices to chat to the Graham & Co team about selling your property.