In the latest of our property related blogs, we put together a guide to selling your home.
Valuing The Property
When it comes to arranging your future move, getting a precise value of your existing house will help you establish how much you can afford. Asking a local estate agent for an accurate valuation is the best way to go. you just need to utilise Google to find local agents. See what they have to offer before proceeding. Perhaps use the recommendations of friends and family too.
You can get a ballpark estimate based on similar properties in your neighbourhood by looking up how much nearby properties have sold for. Even with all the data in the world, there will always be variables that you miss.
An in-person appraisal allows the estate agent to inspect the home. They gain a sense of the space and size of the rooms, as well as the surrounding region.
A Guide To Selling Your Home – Documents & Estate Agents
Notify your present lender of your plans to sell your property. Also, enquire about your current mortgage choices. If you’re terminating your current contract early, you may be charged a cost, so keep that in mind while planning your budget.
Also, select an estate agent with whom you feel comfortable with to take you through the process. Don’t pick an agency only on the basis of their fees. This is the sale of your most valuable asset. You need to work with an agent with whom you feel comfortable. You should value their attitude and methods just as much as the fees they may ask.”
It’s also a good idea to use a real estate agent who has recently sold homes in the area.
Preparation
Getting your house ready for showings is perhaps one of the most important things you can do. It can help the buyer visualise themselves living there by creating a sense of space and a blank canvas. The more appealing your home is, the better it looks to potential buyers.
Make sure the front lawn or entry looks inviting and tidy. Fix any peeling paint or mail heaps. Inside, decluttering is really effective, so make sure it’s spotless. Many buyers will want to work from home, at least part-time. Thus, it may be worthwhile to set up an office or workplace in your house to demonstrate how it can be done.
A Guide To Selling Your Home – The Price Is Right?
You’ll need to decide on your asking price once you’ve chosen your agent. You can use recent sales of similar properties as a clue to what buyers in the present market would be willing to pay for yours. you can also acknowledge as your estate agent’s recommendation. It’s all about the number of people who walk by. If you overprice your house, you will not get the necessary viewings to sell it.
A Guide To Selling Your Home – Solicitors
It’s just as necessary to hire a lawyer as it is to hire an agency. They will handle the transaction once you accept an offer. Getting a referral from your real estate agent or asking family and friends for suggestions is often a good idea.
It’s never too early to start looking for a lawyer. You can ask them to draught the contract. If there is a management agent, make sure they have the Seller’s Leasehold Information Pack on hand, You want everything ready when you locate a buyer. In Scotland, a seller also requires a surveyor to prepare a home report.
Potential Offers
When you have an offer, it doesn’t mean the transaction is done. So, there are a few things you can do to keep it moving forward. Be as flexible as possible when it comes to scheduling and as efficient as possible when it comes to completing any documents that has been asked. Keep in touch with your solicitor and estate agent on a frequent basis. You must ensure you stay informed about the progress of the transaction.
It’s critical to stay in the loop since knowing what needs to be done and when makes it easier to manage the sale process and stay on top of what needs to be chased up.
Contracts
The ‘Exchange of Contracts,’ which means both parties are legally obliged to the sale, will take place once all parties consent to the exchange. Exchange of Contracts is the final stage of the legal process in England and Wales. After this, you cannot back out (without losing your deposit and any legal costs you may incur along the way). This occurs slightly earlier in the process in Scotland.
Between the time of exchange and the time of completion, you’ll receive a statement detailing the costs, solicitor’s fees, and refunded mortgage funds. The final step is to sign the Transfer of Deed, which will transfer ownership of the property after it has been completed.
Moving
The relocation will necessitate a great deal of planning, and one of the benefits of having time between exchange and completion is that you can finalise your moving plans once you have a confirmed moving date. This means you can cancel your home insurance ahead of time and double-check that you have read your meters before you depart.
Completion
The seller will transfer the money for the sale of your house to your solicitor on completion day. They will oversee the sale of your house as soon as this occurs. You’ll need to remove all of your belongings from the property, with the exception of any items you’ve agreed to sell to your buyer, since they’ll be eager to pick up the keys from the estate agent.
