Selling a house can be a complicated process, but it can be made a lot easier by employing and working with professionals. It is also essential to consider the timing so that the date you sell and when you buy your new home are compatible. Here are some tips to make the process run smoother.
Think About the Money
Talk to an independent mortgage broker to discuss whether you can sell up and move. There may be costs that you had not considered. These may include: Early repayment charge for your mortgage, porting charge to take the mortgage with you to the new property if moving to more expensive property, how much can you borrow? Then, of course, there is stamp duty and other costs of selling a house, such as Estate Agents.
Make Your Home Look GREAT
Have a major clean of the property, reduce clutter, and lose any unused furniture, so it looks more spacious. Mow the lawns, weed the garden, repair any broken features (gates and fences) where needed, add a fresh coat of paint (neutral colors).
Get a Valuation
You need to make sure your sales price is right for the market. Too high, and you will put off potential buyers and too low and could be giving away money. Look at price bands in online searches, and if it is not too far away, put your price just a fraction lower than where a price band begins. Talk to the people that know the market and get advice on this from professional Estate Agents.
Set Your Asking Price
The pricing is up to you, but if several estate agents are all giving you a similar figure, they are probably going to be right.
Instruct an Agent
If you are selling your home through an Estate Agent, then make sure you get competitive fees. Not all Estate Agents are the same. Once you have chosen the best Estate Agent, you will sign a contract (READ IT), and this is called Instructing an Estate Agent.
Help with Marketing Your Home
Before photos are taken, do a few tweaks. Make sure the house is spotless and free of clutter. Make sure toilet lids are closed, bedding is smooth, Flowers in a vase (Optimum choice is pink tulips), and a plain bowl of green apples.
Get advice on what documents you will need to produce. Get them together at an early stage to save delays later.
If possible, let your Estate Agent handle viewings and be out of the house when potential buyers visit. The Estate Agent will know the best way to sell your home, and the potential buyer may be more comfortable looking around without you there.
Hire a solicitor and a conveyancer
Having the solicitor and conveyancer in place before you start getting offers can speed up the whole process.
If your home is not selling, you may need to rethink the price, the marketing materials, or even take your home off the market and wait for a better time to market your home.
Your Estate Agent should notify you as soon as you get an offer. If you have more than one offer, get the Estate Agent o do a bit of digging into the actual status of each potential buyer. How much are they offering? Who is more likely to complete? If they are selling a property themselves etc.
Accept an Offer
The potential buyer will probably offer a sum way less than the asking price. Decide whether you will accept it, negotiate by suggesting a compromise price or reject it, in the hope they will make a new offer. Hold your nerve, but do not be unrealistic in your expectations. Consult with your Estate Agent.
Keep the Process Moving
Make sure the buyer knows exactly what they are getting for their moneyAgree on the expected dates for each stage to be completed. Its unenforceable but will clarify things. You should Agree with conveyancers and solicitors that they will update you every couple of weeks. Do not hesitate to ask your professionals if you do not understand anything.