Useful Guide to Selling a Property

So, you’ve made the decision to sell your home and now you’re thinking… “What’s next?”

Use our step-by-step guide below which simplifies the selling process to avoid any daunting feelings!

Things to think about

Can you afford to sell?

You need to consider all costs surrounding a property sale. Such things like any outstanding balance or early repayment charges on existing mortgages, EPC costs, Estate Agent and Legal fees and removal company costs should be researched so you know your affordability.

This is especially important if you are looking to purchase another property at the same time.

Is your home looking its best?

Ensure your home is clean, tidy and clutter free ready for valuations and viewings. Don’t forget to pay attention to the outside too – simple things like mowing the lawn, cleaning the windows and repairing any broken fences will make the property more attractive to potential buyers.

How much is your property worth?

It’s a balancing act! Ensure you don’t set the asking price too high as there’s a risk of putting off potential buyers. Yet don’t set it too low as you might end up selling the property for much less than its worth.

Research should be carried out before setting an asking price and using the help of local Estate Agents will guarantee you’re setting a realistic price.

What do I do next?

Instruct an Estate Agent

If you decide to sell through an estate agent, make sure you compare fees and haggle for a better deal – not only on the fee but tie-in and notice periods, too.

Once you’ve chosen which company to use, you’ll sign a contract which lays out the terms under which they’ll sell your home – this is known as ‘instructing’.

Get your paperwork in order

Being efficient on organising paperwork will help move things along more quickly. Usual documents which you’ll need for during the selling process include any local authority consent for works carried out to the property, electrical certificates, safety reports, warranties or guarantees.

Instruct a Conveyancer

Once you’ve accepted an offer, it’s time to choose your Conveyancer to carry out the legal work for you. It’s very important that you instruct someone who is reliable, efficient and knowledgeable. That’s why Oakwood Property Solicitors are the perfect choice. We will ensure the matter runs smoothly and you’re kept up to date on every stage of the transaction.

Communication is key

Make sure your buyer understands exactly what’s included in the price, including fixtures and fittings. Ensure you establish likely dates for exchange and completion.

Remember to keep communicating throughout this period. If you’re going on holiday, make sure everyone knows, including your Conveyancer and Estate Agent. If there are any aspects of the sale that you don’t understand, just ask!

Exchange and Completion

Exchanging contracts is a key milestone when you’re selling your house, as it’s the moment when your buyer pays a deposit and things become legally binding.

The day you complete is the moment you’ve been working towards, when you’ll have finally sold your home. You’ll need to move all your belongings out promptly and drop your key at the Estate Agent’s, ready for them to give to your buyer.