First-Time Seller Guide
There are two sides to every property sale, and the process can be just as stressful for a seller as it is for a buyer. If this is not something you have experienced before, our first-time seller guide will help you get ready to sell your home.
Prepare your property to be sold
You’ll want to prepare your property to be sold before it goes onto the market as this will help generate more interest, a faster sale, and a higher offer.
The goal is to set the stage to make it easier for viewers to imagine themselves living in the property when they are looking around. This means decluttering the property, along with cleaning and repairing any outstanding issues.
Repaint walls with neutral colours, as this creates a blank canvas for viewers to work with and tidy up the front of the property to add some kerb appeal.
If you have the money available, you could also invest in refurbishing key areas of the property such as the kitchen or bathroom, as these are two rooms that are closely examined by prospective buyers. You could go even further by adding an extension or converting the loft, if funds stretch that far, as this could add thousands of pounds to the property value.
Costs to consider
When you are selling there are some costs you will need to factor in. These include:
You will need to hire a conveyancer or property solicitor to handle the legal aspects of the sale. Fees will vary, depending on the size of your home.
Estate agent fees
Be sure to ask estate agents what they charge for their services. The average cost is usually somewhere between 1% and 2.5% + VAT, which is based on the final selling price of your home.
Final utilities bills
Before you move out of the property you will have to settle the full amount due on your utility bills for the property. It’s a good idea to get in contact with your providers early in the process so you know roughly how much the cost might be, rather than be landed with large bills at the last minute.
Sell your property with Stadium Residential
At Stadium Residential we know how hard you work to sell your home and how stressful it can be at times. We’re experts at selling property in North London and abide by industry guidelines set by Property mark, providing a professional service that can help you maximise the value of your property.
We offer a free property valuation for prospective sellers, giving you a much better idea of how much you could sell for. Combined with our specialist market knowledge and extensive marketing services, we’ll give you the best possible chance of making a quick sale at a high price.
Hire a conveyancing solicitor
As we mentioned above, you should hire a conveyancer or property solicitor early in the process, ideally before you put the property onto the market.
They will serve as your representative when it comes to negotiating the finer legal details of the sale and ensure that the contract doesn’t contain any hidden surprises. The conveyancer will be in charge of managing the property searches and handling the transfer of funds from the buyer to yourself, including the initial deposit and the remaining money when it comes to completion day.
Accepting an offer
When it comes to accepting an offer, you should also take the buyer’s circumstances into consideration, rather than just the amount of money they are willing to commit.
Find out if they are involved in a chain, of if they can pay with cash. They may also have a ‘mortgage in principle’ that indicates securing a loan for the property shouldn’t be an issue.
Also think about your own situation. If you need to sell quickly, then you may not want to waste time negotiating or waiting for a better offer. Or if you’re not happy with level of offer, you could ask them to raise it, or wait for another buyer to come in with a better one.
Arranging a moving date
It’s a good idea to plan ahead with your moving date. Once the contracts have been exchanged, you’ll then set a completion date, which is the day legal and physical ownership of the property is handed over to the buyer.
You may prefer to move out ahead of the completion date once it has been set, rather than dealing with the finalisation of the sale at the same time. Get a few quotes from removal firms and compare not only their price, but their all-round services to see which one provides better value.
Exchange of contracts and completion
The point where you exchange contracts is when you are legally committed to the sale, and likewise for the buyer. The exchange will only happen once the conveyancer is satisfied with all the information provided by the buyer’s conveyancer.
If you are happy to go ahead, the buyer must transfer the initial deposit (around 10%) which is sent to you via your conveyancer. Should a buyer pull out at this stage, they run the risk of losing their entire deposit.
Sell your Property with Stadium Residential
Looking to start the process of selling your property? Get in touch with our team at Stadium Residential today to explore your options