MyJobQuote's Complete Guide to Selling Your Home

Most homeowners imagine a stress-free process in which they quickly advertise their property, find a qualified buyer, gather the money, and give the keys over and the process is complete.

If only things were that easy!

house for sale sign

Realistically, selling a house involves many steps, some of which you may affect and some beyond your control.

Making certain choices when selling a home could either save you or lose you hundreds of pounds.

Here is our selling guide, which contains all the information you require concerning the house-selling procedure.

Prepare Your Finances

Having a general idea of your property's value before you sell it is a great way to start when selling your home.

If you currently have a mortgage to pay off, this will also allow you to figure out how much money would be left to pay.

If you need to find out if any early repayment fees are associated with converting your mortgage to another bank or if you can take it to a new house, locate your mortgage documents or contact your lender.

Figures will come close to being accurate in the early phases. However, you don't know how much you could sell for, and you won't know your mortgage's exact redemption amount until after the contracts have been exchanged and a completion date has been established.

The month you decide to sell your home will impact the price. The greatest season to sell your house quickly is typically considered to be the spring (from February through June).

Autumn is the second-best season for a quick sale (Mid-September to October). However, due to the high number of holidays, the months of July and August typically slow on the real estate market.

To Sell Your Home, Use A Local Estate Agent

If you hire a local estate agent, you'll need to research which one to pick based on your requirements. Researching their success rate would be best, as well as their sales success rate and the likelihood of meeting the asking price to identify the top local estate agents.

Finally, you and the estate agent need to agree on a charge; for an individual agent, you should aim for 1% + VAT.

couple meeting real estate agent

Online estate agents are usually a less expensive option when selling a home. When choosing an estate agent, carefully review your contract.

Avoiding the estate agent and selling your property yourself can save you money if you have the time, are organised and are ready to put in the effort.

Get A Certificate Of Energy Efficiency

A standard certification called an energy performance certificate (EPC) rates properties according to their energy efficiency. When selling their home, homeowners must give potential buyers an EPC. So before you sell your property, you must, at the very least, have sought an Energy Performance Certificate.

Since 2008, it has been required to have an EPC, so if you're wondering if you need one, it's possible that the property already has one. However, remember that the EPC has a 10-year validity period after completion.

By looking up your property on the government's EPC register in England and Wales, you may quickly determine whether it currently has a valid EPC. Check the Scottish EPC registration and the Northern Ireland EPC register for properties in Scotland.

Choose The Price At Which To Sell Your House

What price to list your house for is one of the most difficult choices you'll have to make while selling it. It would help if you researched and identified yourself with the local market to determine this.

House prices increased dramatically, according to the Land Registry, in the previous year, increasing 9.8% annually as of March 2022. So, if you haven't had your home valued in a while, there's a significant probability that the price has increased.

Request valuations from a few estate agents, but don't always choose the most expensive one. Remember that purchasers will likely try to negotiate a price, so increase your acceptable range by 5% to 10%.

Getting Your House Ready To Sell

You could have a good chance of selling your house quickly, and you might even increase its value if you "stage" it correctly. You should clean it up, get rid of extra clutter, apply a fresh coat of light-coloured paint, correct any minor issues, and maintain it tidy.

freshly painted room

Don't underestimate the value of your home's curb appeal. More than 68% of homeowners say exterior appeal had a role in their decision to buy a property, according to the HomeOwners Alliance's 2019 annual survey.

The most crucial elements were the quality of the windows, the roof's upkeep, and the cleanliness of the front lawn and driveway/path.

Hire A Conveyancer Solicitor

You must select a conveyancing solicitor for the legal tasks related to selling a property. Before approving the sale of your home, you should choose the firm you wish to work with to ensure the sale continues. Naturally, you can only officially instruct once you have accepted an offer.

Get an estimate from the conveyancing company that your estate agent suggests, but make sure you compare it to other quotes. A sizable referral fee can be tacked on to your account.

Choosing The Best Buyer

It's not always ideal to choose the one with the highest price. Please pay attention to your agent's recommendations regarding buyers, and encourage them to learn as much as possible about the buyers' circumstances.

How are they funding the purchase first? Cash buyers are preferred, but if they seek a mortgage, ask to see a document stating that one has been approved in principle by the lender.

Do they have any previous purchases? The conveyancing process may take longer because they need the agent's help. Do they have a transaction that is related? Before you take your property off the listing, they should have an offer if they have something to sell.

Find out if any forward chains would make it difficult to agree on completion dates in the future. A buyer who a qualified home search consultant handles is also excellent news because the consultant will also work to close the purchase from their perspective.

Taking Up Offers

As the intermediary, your solicitor will present each offer that is made. Demand that the solicitor has complete knowledge of the buyer's situation at their fingertips can act fast and that written offers only be made. What a buyer is willing to offer depends on the market, the competitors, and how much they adore the home.

The price you will accept will also depend on the state of the market. As many of these belongings may not suit your new home, decide if you want to keep them all. If not, you can use them as powerful negotiating tactics to achieve your desired price.

Last updated by MyJobQuote on 6th December 2022.
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