It’s a good idea to keep in mind that buyers will usually try to negotiate a price so make sure you’re happy with the overall valuation first!
Stage 1: Accurate valuation
First things first, getting a valuation done for the property is important, however receiving an accurate valuation should always be a priority. It is important to receive an accurate valuation for your home as you need to know the correct figure for the property before putting it on the market so you know exactly how much you can achieve.
Stage 2: Finding the right agent
It can be quite over whelming finding and picking the right agent to sell your property as there are so many to chose from with different things to offer. Selling your property yourself is always an option, however you need to remember that without an agent you will not be able to advertise the property on Rightmove or Zoopla. Another thing to always think about is that not all agents require you to pay thousands to cover their fees as online agents are more cost effective.
Stage 3: Preparing your home
Getting the property ready is a really crucial part of selling. You want the property to look the best it can on the pictures so it will interest potential buyers into viewing the property. You want the property to look neat and tidy so it will increase the chances of selling as maximising interest from buyers online will increase the chances of a quick sale at a good price.
Stage 4: Choosing a solicitor
When you have accepted an offer on your property, you must instruct a solicitor who will then transfer the ownership of the property. The solicitor will take over the conveyancing process so you don’t need to worry about it. You don’t need to instruct a solicitor until you have accepted an offer but the best advice is to instruct one earlier anyway so their ready to go when the time comes.
Stage 5: Accepting an offer
At this point, you should have received numerous of enquiries on Rightmove and Zoopla and had numerous people coming to view the property. You also should have had different offers being put forward which you would have taken into account and considered. Once you’re happy with an offer and accepted it, you then move into the ‘sales progression’ part.
Stage 6: Negotiating the draft contract
Now that you’ve accepted the offer, you and the buyer now need to come to a decision about what changes are going to be made in the property before the buyer moves in. You need to decide what time frame will be allowed between exchange and completion, what fixtures and fittings will be included within the sale and if there are any discounts off the back of the survey which is conducted by the buyers mortgage provider.
Stage 7: Questionnaires
Your questionnaire with be about the boundaries of the property, which fixtures and fittings are included and whether you’ve had any complaints or issues with the neighbours. The council will set their attention on council tax, prospered developments and any building works.
Stage 8: Exchanging Contracts
Now that the draft contract has been completed and all terms have been agreed, the final contract will be issued and then exchanged. You and the buyer are now legally committed to the sale of your property. If the buyer now changes their mind and decides they no loner want to progress, they will lose their deposit. If you change your mind and decide you no longer want to go through with it, you will be sued and the buyer will get their deposit back.
Stage 9: Moving
As the contracts have now been exchanged, you have a certain timescale as to how long you can stay in the property for until you have to move out. Its now the best time you move as much stuff as you can to make it easier when the last day comes.
Stage 10: Completion
You have come to the stage where payment is now accepted and you must hand over the keys. The property has now officially changed ownership so your solicitor will register the transfer of ownership.
Stage 11: Pay off the mortgage
You and your solicitor will have received a redemption figure for your mortgage for completion day. Now the buyer has transferred the money to your solicitor, your solicitor can pay off your mortgage for you.
Step 12: Pay your solicitor
Finally, you’ve reached the last stage of the process. The house is sold and the new owners are in. The very last thing to do is to pay off your solicitor for their costs, the sale price and redemption of the mortgage.