There is a big to-do list when it comes to selling your home, especially if you are planning on doing so the traditional way. The whole process can be a lot to wrap your head around, which is why we’ve put together the following house selling checklist.
Spoiler alert: If you want to skip most of the legwork and sell your home fast the easy way, scroll to the end of this article to find out how!
Get Your House Valued
The first stage of selling your house is getting it valued. You may want to ask 2-3 independent experts so that you get a true reflection of its worth.
There are a lot of aspects that affect the value of your property. This includes the general value of properties in the area, the size of the property and its condition. It’s worth familiarising yourself with the current value of local properties so that you aren’t disappointed. The total value will determine the property you can subsequently purchase unless you are an investor with a healthy level of capital, or unless you are looking to downsize.
Be aware of marketing your house at a value that is too high, because ultimately buyers will not pay more than they think it’s worth. If anything, they will be looking to negotiate the figure down as much as possible.
Review Your finances
When you consider just how many professionals are involved within your house sale and the move itself, it’s easy to forget just how expensive moving can be. That’s why you will need to take a good look at your finances. You may need to consult a financial advisor as well as a mortgage advisor to make sure you can afford the move, especially if looking to purchase a more expensive property.
Some of the costs included in moving home include:
Conveying fees: £1,200
Mortgage exit fees: £50-£300
Capital gains tax (eligibility depending)
Moving company fees: £500-£2,000
Estate agents fees: 1%-3% of selling price + Vat
House cleaning fees: £150-£300
Skip hire: £150-£400
Plus legal fees associated as a buyer if you are playing to move into a new property.
House Selling Method
One of the most important decisions is who you are going to enlist to help sell your home. Traditionally, estate agents are the method of choice but they don’t suit everybody. It can take an average of 4 months to sell your home with an estate agent – and that’s just the average! Hence if you are in a hurry you may be left waiting for months until the process is fully completed.
You can also go it alone though unless you are a professional marketer you may not have the skills or know-how to cast your property in the best light. Plus, it can be difficult to reach potential buyers without a high street branch or website. You’ll also have to factor in the time needed to complete all of the administrative tasks as you communicate with different buyers, arrange viewings etc by yourself.
If the property isn’t up to current standards in terms of fixtures and decor then you will need to remedy this if the home is to sell. After all, people need to be able to envisage themselves living there so ideally, your home should appeal to the masses in terms of layout, decor and overall appeal. Now is a good time to brush up on current interior design trends if you haven’t already.
The only exception is if the home is being sold as a ‘doer-upper’ at a significantly reduced price.
Maintenance or renovation work may include:
- Addressing any damp issues
- Deep cleaning of inside of home
- Fixing broken roof tiles
- Fresh lick of paint throughout
- Gutter cleaning
- New carpets or carpet cleaning
- Updating bathroom suite
- Updating kitchen
- Window cleaning
Hire A Solicitor
You will need a solicitor to take care of all the legal paperwork involved in transferring the property ownership. Ideally, choose a solicitor who is familiar with this line of work as solicitors vary in specialisms and experience. You may want to search for recommendations or ask friends and family to find the right professional for your needs.
Consider Offers Carefully
If all goes well you should receive a healthy number of offers for your property. If you’re desperate to sell, it can be tempting to accept the first offer you receive. As with all things in business, you need to keep a cool head and consider the offer, known as ‘offer to purchase’ before you accept it.
As well as the offer price, you need to look at any conditions the buyer is requesting relating to fixtures or fittings in the home, or even when they would want you to move out by. If you are happy with the offer then you can accept it, though it’s good to note that until the contracts have been officially signed, the house is not yet sold in the eyes of the law.
Exchange & Completion
A property exchange occurs when both parties sign the relevant documents to transfer ownership across. This is when you have legally committed to selling the property and likewise, the buyer has legally committed to purchase the property from you.
The next stage is completion and this is when you receive payment for the property, and your solicitor registers the transfer of ownership with the Land Registry. You must be packed up and moved out by the completion date.
Sell My House Fast
Don’t fancy going through the rigmarole above? We don’t blame you! The good news is that there is another way to sell your home fast that you can get started with today!
Cash Property Buyer is an independent purchaser of properties. Simply tell us your postcode along with some information about your property to get started.
If your property meets our criteria, we’ll give you an offer within 3 working days. Completion can take as little as 7 days, with no legal fees. Selling your home with us is as simple as that!