Guide For Sellers
Whilst local property newspapers and websites can be used to provide an indication of what your property might be worth, you will need the experience of a professional estate agent to get a more accurate and realistic assessment of its real value.
We will be happy to provide you a free, no-obligation, property appraisal.
We can meet you at your property at a time that best suit your needs. Our appointment with you would typically take between 30-60 mins and would include a detailed inspection of your property. At our meeting, we will discuss the specific needs relevant to your own situation, market forces and current demand, previous transactions in your street and activity levels with other property similar to your own. This information will help us advise you on:
- the potential value range applicable to your property
- anything you could do to enhance this value, and
- recommend a marketing strategy that suits your particular objectives.
Any questions or concerns you have can also be addressed at this meeting.
To book a free valuation, please submit a request here.
Preparing your home for photography and other visuals is therefore one of the most important actions you can take to maximise your chances of attracting interest. This could involve some moving of furniture and basic de-cluttering.
Room dimensions and details will be recorded and a plan of the property will also be drawn.
We will make all best endeavours to qualify purchasers in advance of any viewings – but at the very latest, at offer time. By “qualify” we mean that we will formally check their status and ability to proceed with any offer they make. In order for us to do this, we will ask for contact details of their broker or mortgage lender, and any estate agent dealing with their current property sale.
You will need to instruct a solicitor/conveyancer to act for you in the sale. It is only when this information has been provided and we have contacted the necessary parties for verification of your purchasers’ situation that we will consider whether it would be pertinent to stop showing your property to other prospective purchasers.
It is at this stage that we will try to make you aware of any chain implications and the likely timescale of any agreed transaction. Due to the nature of the buying process, it is important to note and understand that any information provided by us concerning the transaction chain is not guaranteed and could change at any time. However, regular liaison will be made with legal parties acting on both you and your buyer’s behalf to ensure we can keep you abreast of progress on a timely basis.
To support these activities you (and your buyer) will need to instruct a solicitor or conveyancer to do this work on your behalf.
A summary of the legal process;
In summary, the overall legal process to exchange and complete contracts with your buyer generally takes the following steps:
- Terms are agreed between Seller and Buyer and both parties instruct their conveyancer to work for them.
- The Seller’s conveyancer obtains the Seller’s title deed and prepares the draft Contract for the Buyer’s conveyancer to approve.
- The Seller’s conveyancer send to the Buyers conveyancer the draft Contract together with the rest of the documentation needed to form the overall contractual package.
- The Buyer’s conveyancer reviews the detailed terms of the Contract, does the Searches and reviews the results, confirms that there is a Mortgage Offer in place, and also checks the readiness of any dependent sale (in the same chain) to proceed.
- Contracts are then signed and exchanged at which time a Completion Date is agreed between both parties.
- The Transfer Deed is prepared by the Buyer’s conveyancer and approved by the Seller’s conveyancer, and then signed in readiness for the Completion Date.
- The Buyer’s conveyancer obtains the funds for the purchase from the Buyer – either directly, or through the sale of his/her previous property – and the lender (if there is a Mortgage)
- On the Completion Date the Buyer’s conveyancer sends the required funds to the Seller’s conveyancer (on behalf of the Seller). When receipt of these funds is confirmed by the Sellers conveyancer, the purchase is deemed complete and the Buyer can take legal occupation.
- The Buyer’s conveyancer pays any Stamp Duty due, and registers the Buyer as the new owner of the property with the Land Registry
Our advice: The time it takes to progress through this stage is dependent on various factors – but the entire process could take at least 6-8 weeks. However, to speed up the process from your end, we recommend you instruct legal representation prior to finding a buyer as there are various things they can do well in advance, and hence save time later. This includes calling for your title deeds office copy entries and various other documents – all of which can take some time to get hold of. It’s worth completing various documents in advance – such as the “Sellers Property Information Form” and “Fixture Fittings and Contents” declaration – as these will also help speed up things later.
In parallel to the legal process, one or more surveys may be commissioned on your property. If the Buyer requires a Mortgage their lender will make arrangements for a very basic survey (known as a Valuation) to provide assurances that it’s worth the price being offered for it. In addition to this, the Buyer may also commission a more comprehensive survey – which will assess in more detail the condition of the property and make appropriate recommendations.