Selling a Property
Our guide to selling a property
It’s no secret that selling a property can be daunting, but with the proper preparation and knowledge, it doesn’t have to be. Putting your home up for sale is a process, and simply following the steps in this guide will walk you through everything you need to know about selling a property from start to finish.
Choosing the best agent for your property
The first step in successfully selling your property is finding the right agent. Not all agents are created equal, so it’s essential to take your time and find someone you feel confident will be able to sell your home efficiently and for the best possible price. You should feel confident in the agent you choose to market your home. Here’s how to go about making the right selection.
Make a shortlist of the best local estate agents
It is essential to narrow the selection of estate agents to a manageable size. This can be achieved by asking friends, family or neighbours for recommendations or by conducting your research online. We recommend finding two or three agents that cover your local area.
Check out the online reviews of the agents. While plenty of sites can help check company reviews, we recommend allAgents.com as a dedicated Estate Agents comparison site. We’re proud to say that we were awarded the Best Sales Branch of the Year gold award for 2021 for our branches in Burntwood and Lichfield.
Ensure that the company you elect to represent your property sells similar homes. Some agencies specialise in million-pound countryside retreats; others focus on specific areas or cover a more general area. The agent you choose must be experienced in selling homes similar to yours.
Next, check their recent sales record. Ask each agent for evidence of comparable properties they have sold recently in terms of value and type of property. This will give you confidence that they are active in the appropriate market.
Finally, check how they market a property. Is care taken in the photographs and floor plans? Are houses well described and the agent’s website up to date? How an agent markets your property will significantly impact the number of viewings and, ultimately, the final selling price.
When you have your preferred three agents, request that they come to the property to provide you with an estimate on your property’s house value
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Making your final decision
Base your decision on how you have been treated so far, as well as considering their fee. Have they been warm, open, and courteous? Did they take the time to get to know you and your property? Did they answer all of your questions honestly and openly? You’ll want these qualities in an agent representing you and your home.
Give the house price estimate provided by each agent some careful consideration. Have they, or can they, give evidence to support their figures? In most cases, the agent who provides you with the highest valuation is not always the one who will achieve the best sale price for your property, as over-estimating the property will eventually result in a later reduction, which will be reflected on most seller platforms, suggesting to the public that there is little interest in your home. This can incentivise buyers to make offers below the asking price.
Additionally, it's important to compare the fees charged by each agent. Most estate agents will charge a percentage of the final sale price, so it's important to factor this into your decision when making your choice.
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Calculating The Costs
Once you’ve chosen your agents and the home is being marketed, it’s important to consider the financial outcomes of the sale and the costs you’ll face when moving. When moving, you’ll need money for removal experts to help you move, solicitors fees, surveyors, the agreed fee for your estate agent, and of course, you may have a fee on your new mortgage. These fees are usually taken care of upon completion, with your solicitor dispursing the appropriate payments to each company, other than the removal company, which you will pay directly.
Getting an online valuation will help you to start the process of calculating how much you can borrow for the purchase of your next home. Find out how much you could borrow here. Once you know how much you can borrow, check out what your future monthly mortgage would cost using our handy Mortgage Calculator below.
Selecting a solicitor
Once you have chosen your Estate Agent, you will need to find a Solicitor to handle the legal aspects of your sale. Your Estate Agent should be able to recommend a few local firms, but you are free to choose whichever one you like.
Be sure to select a solicitor early in the process rather than waiting until you’ve got a buyer. There will be a few letters and documents that need to change hands, as well as an agreement on the fee structure that you’ll pay upon completion – you may as well get this out of the way early on.
When interviewing solicitors, asking about their fees and whether they have experience handling sales for similar properties is essential. Additionally, you’ll want to be sure that they are available to work on your sale in a timely manner and will be able to update you regularly on the sale’s progress.
Once you have chosen your solicitor, they will begin drawing up the legal paperwork for the sale of your home, including the contract of sale, which you and the buyer will sign, and other important documents like the title deeds.
Your solicitor will also deal with the transfer of money once the sale has been completed, ensuring that the correct amount is paid into your account and that any mortgage outstanding on the property is paid off in full.
Marketing your property
Once you have chosen your estate agent and solicitor, it's time to start marketing your property. Your Estate Agent will be able to provide you with advice on how to present your home to maximise its appeal to potential buyers, so be sure to ask for their input. They will also be experienced in taking photos and creating adverts that showcase your home in its best light. When buyers search for a new home, they often start by looking online at properties that match their criteria. For this reason, it's crucial to make sure that your property is listed on as many relevant websites as possible. Your Estate Agent will list your property on their website and may also list it on property portals like Rightmove and Zoopla. These websites allow buyers to search for properties by location, price, number of bedrooms, and other criteria, making it easier for them to find a home that meets their needs.
Accepting offers and conducting viewings
When it comes to viewings, staging your home in a way that makes it look welcoming and inviting is crucial. You want buyers to be able to imagine themselves living there, so remove any personal items like family photos, as well as any clutter. It's also a good idea to ensure that all rooms are well-lit and clean, as this will help create a positive impression. You may even want to consider hiring a professional cleaning company to clean your home before viewings begin thoroughly. Your estate agents will vet all potential buyers before arranging a viewing to ensure they are serious about purchasing a property and can afford to do so. Once you have accepted an offer from a buyer, your Estate Agent will begin negotiating the sale price and drawing up contracts. If you receive multiple offers, it's up to you to decide which one to accept. Your estate agent will be able to provide you with guidance on this, but ultimately the decision is yours.
Completion and Exchange
Good estate agents recognise that the key to a successful sale is keeping the buyer and seller happy throughout the process. This means being available to answer either party’s questions and keeping them updated on the sale status.
When the legal paperwork is finalised, and both parties sign the contract, the sale is at an ‘exchange of contracts’. At this point, a date for ‘completion’ will be set, which is when the money for the sale will be transferred, and you will hand over the keys to the buyer.
Once completion has occurred, your estate agent will usually call you to confirm that the sale has gone through and congratulate you on completing the sale of your home!
Selling a property can be a complex and time-consuming process, but with the help of a good estate agent and solicitor, it doesn’t have to be stressful. By following these steps, you can ensure that your property is marketed effectively and that the sale goes smoothly.
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Market Appraisal
Whether you’re a landlord, you’re looking to sell or you’re just interested in how much your property might be worth, the best way to get an accurate and detailed understanding is through a free one-to-one appraisal with one of our experienced local agents. Request an appraisal with your local office using the form below.
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