7 minute read posted by đĄ Have you been dreaming of making your next move? Or perhaps circumstances are as such that you need to sell a property, either way if youâre ready to put your plans into action, our handy guide will take you through each step of the process, from finding an estate agent and setting your asking price, to preparing your home. Take a look!
1. Find out the estimated value of your home đĄ
One of the first things you can do is get an estimated value of your home. Click the link for 3 Free options to suit you đ
2. Looking to Buy? đĄ
Once you have a good idea about a realistic sale price of your home, you can then begin to think about the potential equity you may have which you could use to fund your next home. Commonly when looking to upsize homes, buyers will put down a chunk of the equity whilst using a mortgage to borrow the remaining funds. It may be worth speaking with your current bank to see if you can âportâ your mortgage and keep your current deal going. If not, now is the time to speak with a recommended mortgage broker to assess your personal circumstances and secure the most suitable option for you. Looking for a local recommendation, we can help - click here.
3. Choose the right Estate Agent
đ¤ Choose an agent you feel you can trust to guide you through the process of moving home.
Itâs important to remember that not all Estate Agents offer the same service. When we surveyed local homeowners we found once off the biggest complaints was about communication and quality of marketing when it came to dealing with Estate Agents.
Knowing this, you can begin your research into the quality of other similar properties to yours to see which agents are presenting properties in their best light as well as how will they communicate with you throughout.
â Simple questions to the Estate Agents visiting could be who will my contact be from start to finish, how will they communicate, how often and through what methods.
For example, with RedRoots we ensure the agent who visits you, will be the one who you deal with from start to finish, 7 days a week where necessary via whichever contact method of choice (usually WhatsApp).
Other questions include, who will do the viewings, what hours do they cover? Always ask about the social media strategy of the agent and donât forget to check those all important Google Reviews!
4. Prepare your home
đĄ Getting your home ready for viewings is probably one of the most impactful things you can do, and can create a sense of space and a blank canvas to help your buyer imagine themselves living there. The better your home looks, the more appealing it will be.
*REMEMBER* buyers donât see it that theyâre buying âyourâ home, instead they are buying âtheirâ home!
Look at your home through the eyes of a buyer, what would they see when they pull up to your home, look for potential âquick winsâ in terms of your homes kerb appeal.
If we had just one tip when it comes to viewings⌠de-clutter (Easier said then done, we know!). đĄ
5. Set the right marketing price đˇď¸
Your Estate Agent will likely discuss two pricing strategies when it comes to the headline figure. Some like to start high and then come down in price. Others go aggressive from the launch and look for sealed bids above the marketing price. The key word with this is strategy, have a plan pre-agreed with your agent from the outset.
đ An experienced agent will set your expectations accordingly with the marketing strategy and market conditions. Sometimes this the pit-fall many agents fall into the trap off is getting carried away with a valuation, hence why sometimes the highest valuation on paper might not be the best deciding factor with which agent to go with. Assess sold comparables locally and again, CHECK THOSE ESTATE AGENT GOOGLE REVIEWS FROM PREVIOUS CLIENTS! đŤ
6. Check your Energy Performance Certificate (EPC) đĽ
A legal requirement which is needed for advertising your home is an EPC.
This displays how well your home is performing from an energy perspective which naturally can relate to the cost of utility bills. A domestic energy assessor will carry this out at a cost of approximately ÂŁ85, dependent on the size of your home, and the certificates last for 10 years.
Check for free to see if your home already has an EPC in place - Click Here
7. Find a Solicitor đŠâđť
Getting a solicitor to act for you is as important as picking an agent. Once you have accepted an offer, they will administer the sale. Itâs often worth getting a referral from your estate agent, or ask family and friends for recommendations.
Itâs never too early in the process to hire your solicitor.
Your solicitor is going to need some information from you â everything from title deeds and building control certificates for any work youâve had done, such as FENSA Certificates for new windows and boiler service history, so itâs a good idea to start digging them out.
8. Accepting an offer đ¤
When you get an offer, it doesnât mean that the sale is finalised, so there are lots of things you can do to keep the sale on track. Be as flexible as you can about timing, and as efficient as you can about producing any requested paperwork.
Be sure to keep in regular contact with your solicitor and estate agent so that youâre up to speed with whatâs going on throughout the process.
*TOP TIP* To help keep things moving, agree on a timescale for regular updates between all parties at the start of the process to reduce the chances of any miscommunication or misunderstanding.
Itâs important to stay in the loop, because if you understand what needs to be done, and by when, itâs easier for you to manage the sale process and keep on top of what needs chasing up.
9. Exchanging contracts âď¸
Once all parties are agreed there will be âExchange of Contractsâ, meaning that both parties are legally bound to the sale. In England and Wales, Exchange of Contracts is the last stage of the legal process after which you cannot pull out (without losing your deposit and any legal costs you may have incurred). In Scotland, this happens slightly earlier in the process.
This is the stage that, for most people, a sigh of relief can be had as itâs a positive sign that youâre nearly through the process!
Between exchange and completion, youâll be sent a statement showing the costs, the Solicitorâs charges and the mortgage monies that are being repaid. If you are making an onward purchase at the same time, you may need to send a balancing payment.
âď¸ The last thing to do is to sign the Transfer of Deed, which will transfer the ownership of the property on completion.
10. Preparing to move out đ
The move will take a lot of preparation, and one of the advantages of having time between exchange and completion is that you can finalise your moving arrangements when you have a confirmed moving date.
This means you can do things like cancelling your home insurance in time for the move, and make sure youâve read your meters before you leave (if you donât have smart meters, otherwise the energy companies will be able to read the metres on their end).
11. Completion and moving day đž
On completion day, the money for the sale of your home will be transferred from the buyerâs Solicitor to your Solicitor. As soon as this happens, your home is officially SOLD.
Youâll need to get all of your possessions out of the property, apart from any items youâve agreed to sell to your buyer, as they will be eagerly collecting the keys from the estate agent đď¸.
âThink how you would wish to find a property you have just bought, and leave your house clean with swept floors and vacuumed carpets,â says Marion Currie, a valuer at Galbraith estate agents. Leave plenty of working light bulbs, too.
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