Mortgaged Property
Before you do anything else, you need to check your mortgage paperwork and see if you owe your mortgage lender an early redemption charge. If you are buying another property, you may be able to transfer your existing mortgage and avoid the penalty. If you have no penalty charges then you can obtain the services of a mortgage broker that can find you a suitable product for you.
Valuations
Our agent will make an appointment to come and review and value your property for free against the market value. We will check the location, size of the property and its condition to give you the optimum price for your property so when it comes to selling your estate, it is priced correctly. Be mindful that in a rising market your property may sell for more and in a falling market you may get a little less.
Marketing
Once you are ready to proceed, your property will be advertised on all necessary property platforms such as our website, Zoopla, OnTheMarket and promoted on social media. We will obtain professional photographs, floor plans and dimensions of the property and further display on various advertising channels as well as email and text buyers whose search criteria matches your property.
If the potential buyer needs a mortgage, a surveyor is appointed from the new mortgage lender and they will carry out their own independent valuation of the property, hence why the selling price needs to be appropriate to the property. Usually the asking price is pitched a little higher allowing some room for negotiation, if a property is valued much higher than the surveyors valuation, the buyer can ask for a reduction of sale price.
Viewings
When it comes to potential buyers viewing your property, its best to make it as appealing as possible as first impressions always counts! People like to see themselves living in the property so it’s always good to de-clutter, store things away and show off all usable floor space. This will help your property to sell faster and add more to its value. If your property is tenanted, make sure they are aware that your property is marketed for sale.
Once a buyer shows an interest to your property, we accompany them on the viewings at a time that is suitable for both buyer and the seller and feedback will be given within 24 hours from the appointment by phone, text or email, whichever suits you.
Accepting an Offer
We will negotiate with buyers on your behalf to get the best possible price, you should accept an offer that is realistic. Once an offer has been accepted we will formally agree a sale with the buyer and look to complete within a desired time frame, once the buyer has instructed a conveyance solicitor, you can instruct us to take the property off the market.
Conveyancing
If you haven’t already done so, you will need to appoint a solicitor. Your solicitors will require you to fill out property forms as quickly and possible, it may take some time but it’s one of the most important stages in the selling process. You will need to come to an agreement via the agent on a completion date which is acceptable to both you and the buyer. We will then issue a Memorandum of Sale recording the particulars of sale, along with details of seller, buyer and solicitors from both respective parties.
Exchange Contracts
Before an exchange of contracts commences, your solicitor will draft a contract to the buyer’s solicitor. This will include preliminary inquiries of the property, any disputes with neighbours, local search queries and if any issues in the lease. You will need to confirm what fixtures and fittings are included in the sale. The buyer will confirm their mortgage offer and once the deposit has been obtained from the buyer, your solicitor will confirm the completion date and will request your permission to exchange contracts. Make sure you read your contract, sign and return it promptly to your solicitor for the exchange of contracts to commence.
Once you have exchanged contracts, the end is near. You can get busy in emptying the property by booking a removal van, if you pay for a parking bay, contact the council to get it suspended for when you move out. Also you should contact all relevant utility providers and let them know that you will be leaving the property.
Completion Day
Once the remainder of the monies and the deeds have been transferred, often takes place mid-morning, the sale of the property is complete. You will be advised to drop a full set of keys to the Estate Agency for the new owner to collect. Take gas/electric meter readings before you leave the property and you’ll be ready to go!
