Guide to selling your residential property
This brief guide offers some tips we've shared with other sellers when embarking on their first property sale. We appreciate how unique each property is, so please don't hesitate to call us to discuss the process or any questions you have in more detail.
Try asking a couple of agents for an appraisal and search online for similar properties for sale in your area. An online search will let you know what other properties are selling for and how the market is doing. Follow this up with a chat with an experienced local agent. They should also tell you what your property is valued at and ways to increase this through quick fixes and touch-ups.
If instructing an estate agent is your preferred route, consider their experience in the area, their marketing offering, viewing hours and level of personalised service. Try to get to know your agent beforehand and make sure they're the right ones for the job.
Have a look around your property and try to do all those minor works you've been meaning to do. Buyers will take in the full experience from entry to exit, so ask your estate agent how you can make sure it appeals to buyers and what you can do to stand out from the other houses on the market.
Your estate agent will take photographs, gather all the necessary details, put up a board, and when you're happy, advertise your property to the masses on portals, their website and social media. If there is a photo you don't like or something that should be included in the description, just let your agent know - they should be happy to work with you on crafting the best possible listing.
The smooth and efficient sale of a property can is attributed to an experienced solicitor. We recommend researching this early and thoroughly. Ask friends or your agent for a recommendation and ensure comfort in their service offering.
During this time, ensure your property presents as well as it can by clearing cluttered spaces and maintaining cleanliness. Help potential buyers see themselves in your property by keeping walls and decor neutral.
If selling with an agency, you will be contacted immediately by phone when an offer is received. Your agent will let you know about any conditions attached to the offer, and the buyer's ability to purchase will be verified before you decide to accept.
Once you decide to accept an offer:
- A Memorandum of Sale will be prepared
- You will be asked to provide your solicitor's details
- Confirmation of the agreed price will be sent in writing to all relevant parties
Contracts will exchange when you agree:
- All preliminary enquiries following the receipt of the draft contract
- Evidence of a good title
- Any fixtures and fittings to be included in the sale
- Specific instructions highlighted in the sale
- The buyer's mortgage offer
The buyer's solicitor will now pay the deposit (typically 10% of the asking price) to your solicitor once both parties have signed the contract.
The sale completion occurs when all the remaining funds (generally between 85% and 90%) are transferred from the buyer's solicitor to your solicitor. Once the funds have cleared your account, your solicitor will call you and inform the agent to release the keys.