Property Selling Advice

Selling a home can be a complex and emotional journey, often taking around five months on average. This timeline can extend if you are part of a chain of buyers and sellers. Whether you’re moving to a new place or simply looking to make a change, understanding the steps involved in selling your property is important. Here’s a comprehensive guide to help you navigate the process.

Selling a home involves several detailed steps, but with careful planning and the right professional support, the process can be smooth and rewarding. At The Premium Estates, we are committed to guiding you through every stage, ensuring your home sale is as seamless as possible.

If you need more information or assistance, please contact our team for expert advice tailored to your specific needs.

Initial Steps

Determine Your Home's Value

Knowing the value of your home is vital for setting a realistic asking price and understanding your financial standing. You can estimate your home's worth by:

  • Researching local house prices online.

  • Checking recent sale prices of similar properties on the Land Registry website.

  • Getting valuations from multiple estate agents.

A formal valuation by a qualified valuer might be beneficial for an accurate assessment.

Check Your Mortgage

Before you begin, it's essential to understand your current mortgage situation. Contact your lender to find out how much you owe and if there are any early repayment charges.

Additionally, check if there are fees associated with moving your mortgage to a new property.

Preparing Your Home for Sale

Gather Necessary Paperwork

Prospective buyers will require specific documents, including:

  • Property title deeds.

  • Energy Performance Certificate (EPC).

  • Planning permission and building regulation certificates.

  • FENSA or CERTASS certificates for windows.

  • Guarantees, warranties, and surveys.

  • Electrical and gas safety checks.

Ensure all paperwork is organised to avoid delays later in the process.

Obtain an Energy Performance Certificate (EPC)

An EPC is mandatory when selling a property. It provides information about the property’s energy use and efficiency, with a rating from A (best) to G (worst).

If you don't have a valid EPC, you must arrange for an accredited assessor to provide one.

Home Staging

Home staging is a vital part of the property selling process, aimed at making your home more appealing to potential buyers. By transforming the space, staging helps buyers visualise the property as their future home, which can lead to quicker sales and higher selling prices. Unlike other agents, we include home staging as part of our service, all within our competitive standard fee. We also offer it as a stand-alone service.

Statistics show that home staging significantly impacts the sale process. On average, non-staged properties remain on the market for 99 days, whereas staged properties typically sell in just 45 days. Furthermore, 84% of staged properties sell faster than their non-staged counterparts, often fetching higher prices.

Buyers tend to spend more time viewing staged properties, which increases the likelihood of receiving offers. Staging not only boosts the visual appeal of your home but also maximises the number of viewings, giving you the best chance to secure a sale.

Choosing Professionals

Estate Agents

Deciding whether to use an estate agent is a crucial step. While you can sell your home yourself, a high street, online, or hybrid estate agent can offer valuable expertise and marketing resources. When selecting an agent, consider:

  • Their fees and what’s included.

  • Their knowledge of the local market.

  • Recommendations and reviews from previous clients.

Legal Professionals

A solicitor or licensed conveyancer will handle the legal aspects of transferring ownership. They can guide you through the entire process, ensuring all legal requirements are met. Ensure your chosen professional is regulated by the appropriate body.

Marketing Your Property

Declutter and Depersonalise

Make your home inviting and spacious by removing unnecessary items. This allows potential buyers to envision themselves living in the space without distractions.

Professional Photography and Staging

High-quality photos can significantly impact buyers' interest. Consider hiring a professional photographer and, if necessary, a staging company to showcase your home’s best features.

Enhance Curb Appeal

First impressions matter. Improve your home's exterior by:

  • Mowing the lawn and trimming hedges.

  • Cleaning windows and repairing any visible damage.

  • Adding potted plants and repainting the front door if needed.

Managing Viewings and Offers

Flexible Viewings

Being flexible with viewing times can attract more potential buyers. Open house days can be particularly effective, reducing inconvenience while drawing in a larger audience.

Handling Offers and Negotiations

Offers can be made verbally or in writing. If using an estate agent, they will handle negotiations and present all offers to you. Be prepared to negotiate and consider your limits carefully. Remember, an offer is not legally binding until contracts are exchanged.

Exchanging Contracts and Completion

Drafting the Contract

Once you accept an offer, your solicitor or conveyancer will draft the contract, including details about:

  • Sale price.

  • Property boundaries.

  • Fixtures and fittings included in the sale.

  • Any legal restrictions or rights.

  • Planned completion date.

Exchanging Contracts

When both parties are satisfied with the contract, you will exchange signed copies. At this point, the agreement becomes legally binding, and neither party can withdraw without financial penalties.

Completion

On completion day, the buyer's solicitor transfers the purchase money, and your solicitor will pay off any remaining mortgage and other debts. You will receive the remaining balance and must vacate the property as agreed.

Special Circumstances

Selling a Rented Property

If you are selling a property you rent out, you need to:

  • Check if Capital Gains Tax applies.

  • Notify tenants and end the tenancy if required.

Selling for Someone Else

Extra steps may be necessary if you are selling on behalf of someone who has lost mental capacity, passed away, or you have power of attorney. Legal advice can help navigate these situations.

Selling a Retirement Property

For specialist retirement properties, check if there are any charges or exit fees and if any conditions apply to the sale.

Protecting Yourself from Fraud

Property transactions involve large sums of money, making them targets for fraud. Ensure you:

  • Verify the identity of anyone you are dealing with.

  • Transfer money to the correct bank accounts.

  • Avoid sharing too much personal information online.

Consult your legal professional for additional advice on property fraud prevention.