9-step guide to selling a property – From valuation to completion

If you are thinking about selling a property, you might be feeling overwhelmed or unsure of where to start.

We have broken down the process of what you need to do to sell as quickly and efficiently as possible.

1) Valuation

Before your property goes on the market, you will need to get it valued. This will give you an idea of what you can expect for the asking price, and where the house sits in the housing market. Estate agents usually offer free valuations and will come out and visit your home to get an impression of its condition, layout and features.

During this, they will take measurements and ask questions about the property and garden. Based on their knowledge of the area, and by comparing to other similar properties they will give you an idea of how much your property is likely to sell for in the current market.

What affects a property’s value?

Several factors will affect the property’s value. Some of these include the following:

The type of property
Size
Number of bedrooms
Condition the house is in
Internal elements such as flooring, double-glazing and insulation
Proximity to transport
Local area amenities
The location

2) Selecting an estate agent

You should select an estate agent that has a strong high-street presence and the ability to market your property effectively. Check out estate agent’s social media pages and websites to see what they are doing for other sellers and how they market their properties.

You may wish to choose an estate agent who has access to the latest technology, such as video to show off your property as much as possible.

You may also wish to obtain two or three valuations from estate agents to get a clearer idea of the correct price to market at.

3) Instruct a solicitor

A solicitor will help with the legal side of the house sale, including drafting contracts and liaising with the buyer’s representative. At Oakwood Property our team has decades of experience and would be delighted to assist with the sale of your home.

4) Property presentation

Before you market your property, you should ensure it is in the best condition possible. This means making sure your home is clean and tidy, rooms are decluttered and the garden is in a good condition.

The estate agent will take pictures of the house to showcase on their website and marketing materials so make sure it is looking the best it can.

5) How to prepare house for an estate agent

Declutter – clutter can make the space look and feel smaller, so make sure you clear away anything that is in the way. This might mean moving the kid’s toys out of sight, hiding bins and cleaning products out of the way and arranging cushions and throws neatly.

DIY – Small DIY jobs can make a big difference. Think about giving the walls and skirting boards a lick of paint, and fix dripping taps or broken door latches. These can all put potential buyers off even though they’re just small jobs.
Set the scene –Make your home looks as picture-perfect as possible. Think about moving furniture around for the benefit of photography, open up curtains and blinds to allow natural light in, and remember to cut the lawn in the garden. Meanwhile, small additions such as fresh flowers or plants can give the buyer the impression that the property is looked after.

6) Find a buyer

The next step is to find a buyer. Your estate agent should market your property to get the most exposure and interest from potential buyers. They should also carry out accompanied views to help sell the property and highlight the property’s features and assets.

7) Receive offers

Once a buyer makes an offer, your estate agent should contact you to communicate the full details and conditions. You can then decide whether to accept or not. A buyer may try to negotiate the price with you.

8) Accept an offer

Once you accept an offer, the estate agent will confirm the agreed price with all parties and confirm your solicitors details.

Your chosen solicitor will then send you a number of forms to complete about the property. They will also need from you all original documents relating to the house, in particular guarantees, building control certificates and planning permissions for any work done to the property, as well as gas and electrical certificates.

Once your solicitor has received your instructions and paperwork, and carried out the necessary ID checks, they will then send out a draft contract to the buyer’s solicitor, who will carry out preliminary enquiries.

You will need to be able to answer the enquiries, although your solicitor will help you with this.

At this stage you will also be able to agree on dates for the survey on your property, the exchange of contracts and the proposed date for completion.

There are no legal obligations until contracts are signed, and you can still pull out of the sale at this point.

9) Completion

Completion is when the sale monies (usually 90%) are transferred from the buyer’s solicitor to your solicitor’s account.

Your solicitor will call you when the money has cleared in your account and will inform the estate agent to release the keys. The buyer will now be able to move into the property.

Why use Oakwood Property Solicitors?

The team at Oakwood Property Solicitors has decades of experience in property law and conveyancing and would be delighted to assist you.

Our specialist Residential and Commercial property team can help you with everything from sales and purchases to Right to Buy agreements, Independent Legal Advice, Occupiers’ Consent and Joint Borrower, Sole Proprietor mortgages, plus many other matters.

Regardless of whether it is for private residential or commercial use including storage units, shops, office parks and land, our team is on hand to lead you through the process from start to finish.

We are also able to assist with management of ongoing lease agreements and licences for your commercial property portfolio, as well as funding and investment advice for commercial property ventures.