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How To Sell a House?

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Selling a house can be one of the most stressful experiences in your life.

Our article covers a 16-step checklist to make your life easier as a seller.

Table of Contents

1. Decide if you should sell?

The process of selling a house can be long and uncertain.  It will test your patience so it is worth double checking if you really need to sell.

  • If you’re selling because you have outgrown your home, have you considered extending instead of moving?
  • Selling and buying a new home can be expensive, especially when factoring in stamp duty.
  • If you are not in a property chain, renting your property instead of selling might be more advantageous if your tax circumstances allow.
  • Consider the current market conditions before deciding to sell.

2. Figure out your finances

  1. Determine its value and consider any mortgage obligations.
  2. Check with your lender about potential charges for switching lenders or porting your mortgage to a new property.
  3. If you’re moving to a pricier property or your mortgage deal is ending, it’s a good time to consider re-mortgaging.
  4. Ask your lender for the exact mortgage redemption amount before putting your house on the market.
  5. Plan ahead to avoid delays, so apply for a mortgage for a new house before you need it.
How To Sell A House
Plan ahead to avoid delays, so apply for a mortgage for a new house before you need it.

3. Decide if you should rent a house rather than buy one?

  • Selling your home and renting for a while can add to the overall expense, but it will reduce the time pressures of buying a new home.  It also makes you a chain-free buyer. 
  • You won’t have to pay additional stamp duty and claim it back.
  • You also won’t have to compromise on your sale price, potentially selling your home for less.
  • Selling your property and renting before buying will break the housing chain, making you a more attractive buyer in a seller’s market and achieving a better discount on your onward purchase.

 4. Choose an estate agent to sell your house

  1. When it comes to selling your home, you have a few choices.  Sell it yourself as the owner, with an online estate agent or with a local estate agent.  All have their pros and cons.
  2. If you choose a local estate agent, it’s imperative to research and find the best one for you.
  3. Consider factors like how quickly they sell, their success rate, and the likelihood of achieving the asking price.
  4. You’ll also need to agree on a fee, aiming for around 1% plus VAT for a sole agent.
  5. Online estate agents are a cheaper substitution, so review what they offer and at what cost.
  6. When appointing an estate agent, carefully read the contract.

5. Get an Energy Performance Certificate

  • An energy performance certificate (EPC) is a document that ranks properties based on energy efficiency. Homeowners must provide an EPC to potential buyers when selling their home.
  • Applying for an EPC is necessary before putting your home on the market.
How to decide how much to sell your home for
Declutter and apply a fresh coat of light-coloured paint, fix any minor issues, and keep it clean.

6. Decide how much to sell your home for?

  1. Finding the right price to sell a property can be challenging.
  2. It’s important to research the local market and get valuations from multiple estate agents. However, don’t always choose the highest valuation as agents will over-value your home to win an instruction.
  3. Buyers will likely try to negotiate, so consider adding 5% to 10% to your acceptable price.
  4. By following these steps, you can determine a fair selling price for your property.

7. Prepare your home for sale

  • If you stage your home well, you can sell it faster and increase its value.
  • Declutter and apply a fresh coat of light-coloured paint, fix any minor issues, and keep it clean.
  • Don’t forget about the importance of your home’s kerb appeal.

 8. Hire a solicitor 

Choosing a solicitor for selling a property doesn’t have to be difficult.  Read their reviews.

Estate agents may recommend a firm, but be aware of potential referral fees.

Do you pay tax when you sell your house UK
You will need to determine which fixtures and fittings will be included and the agreed price for them.

9. Fill out the relevant questionnaires

You will need to complete TA6 and TA10 forms for a freehold property.  For a leasehold property, a management pack needs to be prepared before the property can be sold.

10. Accept an offer

  1. Be patient.  It can take up to 6 months to agree a sale.
  2. The estate agent must pass on all offers to you.
  3. If you’re unsatisfied with an offer, you can reject it, wait for a better one, or ask the agent to negotiate.
  4. Once you accept an offer, it’s not legally binding, and you can change your mind or accept a higher offer. This can be distressing for the buyer, and it is called Gazumping.

11. Negotiate the draft contract

  • You and the buyer will need to decide on the length of time between exchange and completion, typically within 7-28 days.
  • You will need to determine which fixtures and fittings will be included and the agreed price for them.
  • You may have to negotiate the price if the survey recommends additional repairs.
Exchanging contracts
If you sell a house, you are responsible for looking after it until the sale is completed, so you should ensure you have buildings and contents insurance cover until then.

12. Exchange contracts

  1. When you exchange contracts with the buyer, you become legally committed to selling the property – and they are legally committed to buying it from you.
  2. If you pull out without due reason, the buyer’s deposit will be returned to them, and you may be sued.
  3. If you sell a house, you are responsible for looking after it until the sale is completed, so you should ensure you have buildings and contents insurance cover until then.

 13. Move out

  • You are free to move out on the day of completion, but it’s better to move out beforehand if possible.
  • The property must be in the agreed condition with all fixtures and fittings.
  • The buyer and estate agent may inspect before completion.
  • Find a reliable removals company and get quotes.

14. Complete the sale

  1. Completion occurs when the property changes ownership, payment is received, and the keys are handed over.
  2. It is typically scheduled for a specific date and time.
  3. On the day of completion, the money and property deeds are transferred between solicitors or conveyancers.
  4. The transfer of ownership is then registered with the Land Registry.
How To Pay off the mortgage
Once the buyer transfers the money to your solicitor, they will pay off the mortgage for you.

15. Pay off the mortgage

  • The mortgage company will provide you and your solicitor with the redemption figure for your mortgage on completion day.
  • Once the buyer transfers the money to your solicitor, they will pay off the mortgage for you.

16. Paying solicitor and estate agent

  1. Your conveyancing solicitor will send you an account after completion, which will cover all their costs and disbursements, as well as the sale price of the house and redemption of the mortgage.
  2. If you are buying and selling at the same time, the conveyancing solicitor can settle for both transactions simultaneously, including paying stamp duty for the house you are buying.
  3. They will also ensure that the change of ownership is registered with the Land Registry, and there might be a small discrepancy or even a small refund.

Sale Taking Longer Than Expected?

If you are experiencing delays with your buyer or had an abortive sale, contact us today.

We can buy your home for cash, and if we can’t, we can give you some tips on what to do.  Don’t suffer in silence as the stress can lead to illness.

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  • The price we’ll offer is the price that you will receive with no hidden deductions.
  • Be careful with ‘cash buyers’ who require a valuation needed for a mortgage or bridging loan.
  • These valuations or surveys result in delays and price reductions later on.
  • We are cash buyers.  There are no surveys.
  • We always provide proof of funds with every formal offer issued.
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We'll Pay £1,500 Towards Your Legal Fees

  • No long exclusivity agreement to sign because we are the buyers.
  • You are welcome to use your own solicitor. 
  • If you don’t have one, we can ask our solicitors for recommendations.
  • We share our solicitor’s details and issue a Memorandum of Sale. 
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  • Our approach is transparent and ethical, which is why sellers trust us.
  • 100% Discretion guaranteed. 
  • If you have another buyer, you can put us in a contracts race to see who completes first.
  • Complete in 10 days or at a timescale that works for you.  You are in control.
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