Think Property Selling Check List
There are several key steps involved in selling a property - whether this is the first property you’ve sold, or you’re well-versed in the process, this quick reference may be of help in identifying the key stages in the process.
At Think Property this is a free service with no obligation. In order to give as accurate a valuation as possible we will take into account:
- your property’s location
- convenience for schools and shops
- transport links
- Comparables: what are the asking prices - and actual selling prices - of similar properties in your area?
- any improvements you have made to the property - or works still needed
- the current demand from buyers
We will employ our experience and intuition to arrive at a valuation that gives you the best possible price for your property to suit your timescale. We will not over value your property to gain your instruction.
Once instructed to proceed with marketing your property we will take all the required measurements and prepare the description for your property’s particulars and for listing on the internet. Using the latest digital camera equipment our professional photographer will home to ensure we present your property at its very best.
You will receive a draft copy of your particulars for approval. We will then ask you to sign our contract agreeing to our terms and conditions, fees and timescales - all of which will have been discussed and agreed with you beforehand.
Since the long awaited abolishment of HIPS, which we Think was a great idea you now only have to have an EPC (Energy Performance Certificate) An EPC assesses the energy performance of a property and will make recommendations on how to improve its energy efficiency. 'A' is the highest score that a home can receive and it means that the home has excellent energy efficiency. 'G' is the lowest score; the average score of a home in the UK is D.
The EPC will show a building's environmental impact by indicating its carbon dioxide emissions. It must be carried out by a qualified and accredited Domestic Energy Assessor (DEA) or Home Inspector. Energy Performance Assessors are likely to be in demand so we advise landlords to consider getting their properties up to standard and assessed as early as possible.
With all materials in place we can now begin marketing your home. As the internet is now the first port of call for the majority of househunters, in addition to featuring your property on www.ithinkproperty.co.uk we will upload the details it to the leading property portals such as rightmove.co.uk
With local press advertising, welcoming premises and a friendly, informative approach to attract new applicants, our team of pro-active, energetic staff are busy matching applicants to properties from our extensive database. Click here to see our full marketing guide.
5) Preparing your property
First impressions count - it’s a fact.
What better time to freshen up some of those rooms, give the front door a lick of paint, tidy up the garden, and really set the stage for your viewings
It’s a good idea to take care of all those little jobs - things that may catch the eye of a potential buyer could be enough to put them off. Worse still, they may wonder what else they’ve not spotted... and how much it might cost to put right.
We will be happy to advise you on simple inexpensive tips to help your home sell as quickly as possible and at the best possible price.
Accompanied or unaccompanied, the choice is yours. The most important thing is that buyers are allowed to view your home in an unhurried, stress-free way so they can make an informed decision.
Don't underestimate the power of fresh flowers or the smell of freshly brewed coffee - those first impressions linger and really do count.
We Think that most importantly we are available 7 days a week so we are here to arrange and accompany (if required) those all-important weekend viewings.
7) Offers & Acceptance
Once an offer has been put forward, we will call you to discuss it in the context of the buyer’s situation and there position to proceed - and other interest the property may be receiving.
We will advise you on how to proceed, but ultimately the decision must be yours. You may wish to accept or reject the offer, or instruct us to negotiate on your behalf to try to reach a better price.
When you accept an offer, your property becomes ‘Sold - Subject to Contract’ and the purchasers may stipulate that the property be removed from the market if they are in a position to proceed.
8) Solicitors & Conveyancing
Conveyancing is the legal process of transferring the ownership of a property and it is standard practice to instruct a Solicitor to undertake this for you.
Your Solicitor will deal with any questions raised by your buyer's Solicitor regarding the title deeds, local authority searches, boundaries, covenants, planning consents, guarantees and so forth.
Your buyers or their lender will instruct a surveyor to inspect your property.
Surveys range from simple Valuation suveys to satisfy a lender of the property’s worth; a Homebuyer’s survey providing a broad overview of the property’s condition; through to a full structural survey.
The latter two will bring to light any particular problems in the areas surveyed and make recommendations where appropriate for their repair.
Some lenders may require a full structural survey on older properties
10) Exchange of Contracts
When both parties are happy to commit, with all questions raised by your buyer's Solicitor answered to their satisfaction, your Solicitor will draw up the Contract of Sale for both parties to sign.
Once signed, the sale becomes legally binding and the buyer will be required to pay a deposit, usually 10% of the purchase price. Should they pull out after this point, they are liable to lose this deposit.
The property legally changes hands at the point of Completion when the balance payable is transferred from purchaser to vendor.
This can happen at the same time as Exchange, a day or so after, or sometimes even a few weeks after Exchange. The timing may be dependent upon each party's timescales - perhaps a chain is involved and several transactions must be synchronised.
Upon Completion you must vacate the property and hand over the keys to the new owners.
Get organised in advance, make lists: there are lots of people to contact and notify - moving day is usually a very busy day and its best not to leave anything to chance!
You will need to make sure you have redirected your post and notified your telephone, water, gas and electricity providers and taken final readings too. You should take meter readings when you arrive at your new property too.
We THINK it’s a big deal so there will be a gift awaiting for you when you come to collect your keys !