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A beginner's guide to selling a property

Sun 20 Jun 2021

A beginner's guide to selling a property

Selling your property can be a daunting prospect, so we have put together a ten-step guide to selling your property for a short introduction to the process. 

  1. Do your sums

This is a vital step! Whatever your reasons for selling, you must start off with a rough idea of the value of your home and then subtract the legal and estate agency fees you will incur. Don’t forget any early redemption fees on a mortgage.

  1. Choose an estate agent

A good estate agent can make all the difference between a good and bad house selling experience, so get personal recommendations if possible. Compare the different fee options and select the best type of contract (sole or joint agency) for you. 

  1. Set your asking price

Although it’s the seller’s ultimate decision, it’s sensible to be guided by your agent who will value your property based on current market conditions. You can book a FREE valuation with us by clicking here.

  1. Prepare your home for sale

Make sure your home is tidy and any essential repairs are done. First impressions really do count! Read our guide here on maximising your house value to make sure you get the most out of your property. 

  1. Find a solicitor or conveyancer

You can choose between a solicitor or a licensed conveyancer to take care of the legal work for you. Be sure you understand the charging structure and where VAT is added.

  1. Complete the selling documentation 

There will be a fair amount of questionnaires and forms to complete regarding your property.

  1. Accept an offer

You may receive several offers before you choose the one you wish to accept. Your agent will formally accept the offer on your behalf and it is not legally binding at this point.

  1. Complete the draft contract

The solicitors will draw up a draft contract covering such issues as dates of exchange and completion and what is being left in the property. 

  1. Exchange of contracts

It’s at this point that the sale becomes legal binding. The buyer pays a deposit and if either party pulls out after this, they will incur hefty costs. 

  1. Complete the deal

“Completion” is when the property changes ownership. A date and time is agreed and at this point, the monies are transferred and you must move out and hand over the keys.  

If you're looking to sell your property, contact us on 01788 551111 to speak to a member of our team.

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