Selling your property can be for a number of reasons, ultimately it’s a transaction of a large commitment and getting it right to ensure you achieve the most amount of money whilst considering your requirements is paramount.
The First Step
You know you want to move, however do you have an idea on where and what to? This doesn’t mean knowing the exact property you will move into but more so of having an appreciation of what you will be able to afford. If you are buying on, vacating into temporary accommodation or renting, it is important to put yourself in the strongest position possible, which is achieved by getting a buyer. In this instance it is sensible to get your property valued and then discuss figures with a mortgage consultant; they will then be able to give you an idea on what you can afford.
Getting Ready to Sell
You need an estate agent to conduct a market appraisal (marketing valuation) to draw comparisons against comparable properties and sold prices, this gives you an insight on how best to market your property. To ensure this is accurate it is worth collating the following information: gas and electrical checks (within the last year), building regulation checks for works carried out on the property. Council tax, utility, buildings and contents insurance bills, allowing potential buyers to estimate running costs. Finally if leasehold, service charges, ground rent, rent (for shared ownership) and years left on the lease.
During the estate agents visit, it is advisable to ask for an opinion on home staging and consideration into whether any improvements can be made to achieve the best price.
You are required to have an Energy Performance Certificate ordered before you market your property, this can be arranged by contacting your estate agent. For more information click here.
You will now have a marketing strategy in place and you will be expecting the first of your viewings; viewings are best conducted by the estate agent and in the home owners/tenants absence, this allows the potential buyer to be as open and honest when trying to extract constructive feedback.
For Sale boards are paramount in ensuring you are doing everything possible to market your property; for leasehold properties, you should check with your management company if these are permitted.
Agreeing a Sale and the Final Stages
Once your agent has extracted the best possible offer on your behalf and you have accepted it, you will be ready to instruct a solicitor. This is a requirement before memorandum’s of sale or draft contracts can be issued.
Moving forward your solicitor and estate agent will remain in regular contact to advise you on the process to follow, ultimately it is important to note that the buyer is in a position, as are you, to withdraw from the sale up until exchange of contracts takes place, at the point of exchange a completion date will have been agreed by all parties. That is the day that you are no longer the legal owner and need to have moved out by a set time; this is a useful time to note that vacating a property either by moving into accommodation on a temporary basis as opposed to buying on can create an easier agreement for exchange and completion.
For any further advice on selling your property, please feel free to contact our sales team in Bournemouth, Ferndown, Wimborne or Ringwood.