The Selling Process
There are a number of steps involved in the process of selling your home.
First you will want to get an accurate valuation of your property. Everyone wants to get the best price for their home and sell it as quickly as possible. You will want to arrange for a valuation of your property so that you know its true worth. Call three estate agents and take the three valuations, add them together, and divide by three to get your own valuation.
Some important things to look for in an estate agent are their hours of operation, and at what times they will be able to do viewings of your property. You should also find out about their high street presence, and the kind of marketing that they will use to get your property sold. You want an estate agent that will give your property the highest amount of exposure so that you can get the highest price possible for your home.
The estate agent or yourself will need to organise a government-required Energy Performance Certificate (EPC) for your property, Before your property can be marketed.
If you don’t have a solicitor get one. You’ll need one to sell your property ! This will avoid any delays, once a sale has been agreed.
Before any viewings ensure the house is clean and any DIY projects completed – no point in showing off your house if it is in a mess with wires hanging out of walls and wall paper peeling off the walls
The last step of selling your property is of course to get an offer. You should note any special conditions that are noted in the offer and know of the potential buyers’ ability to proceed. Then you will either decide to accept or reject the offer.
Once an offer is accepted, the agent usually calls the solicitor to send a draft contract to the buyer’s solicitor. The buyer then signs this after a conveyance of the property is done. The buyers solicitor will raise enquiries to be resolved by the seller’s solicitor. You will receive documentation which includes a Property Information Questionnaire – this will ask what you are leaving in the property – ie light fittings, toilet paper holders, tooth brush holder, through to who owns which side of the fence, and who are your utility providers – Ie electric, gas and water providers.
Your solicitor will ask you when you want to exchange and complete – normally this happens on the same day – but you may want to exchange immediately and complete later. On exchange the contracts are signed and the buyer puts down a deposit – this is usually 1o% of the purchase price. A mutual completion date is agreed. If the buyer fails to buy the property by the completion date then you have a financial and legal recourse
Completion day! The remaining 90% of the monies are ‘CHAPsed’ to your solicitor’s account by the buyer’s solicitors. Once the money in your solicitors account, they will deduct legal fees, costs, and any disbursements to third parties your Lender if you have one and the estate agent. The estate agent then releases the keys to the buyer! House sold!
To find out more about the property selling process
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