30 Jan Selling your Property – a first time sellers guide
Moving home is a one in fourteen year occurrence so even if you’ve bought and sold before, chances are it might not be something you’ve done in a while. You may even be at a total loss as to how to get your property listed on Rightmove.
I was speaking to some first-time sellers the other week about the best way to market their property and thought I’d share some of the advice that I gave them.
The first step
One of the first things that you need to do before making your property ‘live’on the market is that you need to make it selling and viewing ready.
Your property needs to feel homely and yet clean, tidy and uncluttered. This is quite a trick but buyers need to be able to imagine living there. The first step is to de-clutter and make any small repairs. This is particularly important to do before any marketing photography is done.
Putting it on the market
You’d be well advised to get a professional appraisal of the property and the marketing options. This can be done by an estate agent of course. Things to ask your agent should include:
How will the property be marketed?
What kind of buyers will be interested and how many do you have registered?
What are your fees?
Your estate agent should be your best friend when going throughout the selling process. They will be the ones to arrange any viewings and will be marketing your property to its full potential. Choosing the right estate agent is the key to your home being successfully sold.
Costs to consider
Many of our clients are surprised at just how many fees there are associated with selling a home and you will need to incorporate these into your budget. If you choose to advertise through an estate agent, you will need to pay agency fees.
Additionally, in England and Wales, it is necessary for you, as a seller, to provide an EPC (Energy Performance Certificate). It is a document which tells you how energy efficient your home is.
You will also have to pay solicitors or legal conveyance fees. Conveyancing is the legal term given to the transfer of the legal title of the property from one party to another. The solicitor or conveyancer will deal with the legal aspects of the selling process.These fees are usually lower than the fees involved when buying a home.
You also may need to keep some money aside for removal costs. These costs will vary depending on how far you’re moving or how many belongings you are taking with you. Just get a number of quotes from different companies and also check customer reviews, it pays to shop around.
Getting an offer
Once potential buyers have viewed your home they may make you an offer. This might be below what you are asking. There is no need to accept or reject an offer straight away – remember you are always in control of whether you accept or not. Your estate agent should be able to give you guidance on how serious the offer is and the position of the buyer.
If the offer is acceptable and you choose to accept then this is usually ‘subject to survey’; This means as long as the survey results come back okay, the buyer will proceed with the sale.
Remember, the offer is not accepted or legally bound until the contracts have been exchanged. This can be an enormously frustrating part of the sale as the buyer can sometimes change their mind and simply back out.
Things to remember
• You may not get the exact price you wanted for your home, but that’s okay. There are a number of options available to you. Either negotiate the shortfall into your onward move or alternatively, make sure you have a good agent able to help you with the negotiations.
• Try and make your home the best it can be. You may have fallen out of love with it and you’re ready to move on but remember what it was that made YOU buy it in the first place. Keep everything tidy and clutter-free: Don’t forget about its kerb appeal as well.
• Keep on top of any paperwork particularly after the offer has been accepted and the sale is proceeding. This will make things move along quicker and create a stress-free sale. Ask us about our ‘Quick Sale Ready’ service.
• Make sure your estate agent is keeping you advised of development and giving you regular feedback as far as the marketing is proceeding.