The first step to selling your property is getting your finances in order. Let your mortgage provider know that you’re considering selling, and find out if there are any penalties for paying back your mortgage early. If you plan on purchasing a new home as well, think about the kind of mortgage you’ll require for that transaction. Your mortgage provider should be able to give you information on the mortgages you can borrow, but in the interim you can always use our illustrative mortgage calculator.
If you’re selling your property, chances are that you’re looking for another one. Make sure that you’ve instructed us to start marketing the sale of your home before you start looking for a new home. Taking a look around the area that you’d like to move is one thing, but seeing your dream home and losing it because your house isn’t on the market yet is an avoidable heartbreak.
It’s a good idea to keep in mind stamp duty brackets when you’re selling your home. We’ve got another calculator for that which might help.
Staging your property correctly is very important, as the photos in your advertisement determine how many buyers you’ll get through the door. Before we come to take all of the professional pictures, it’s a good idea to get your property looking its absolute best. Maximising interest from buyers online will give you the best chance of a quick sale at a good price. For more on this, here’s one we did earlier…
Transferring ownership of a property is called conveyancing, and it must be done legally through a solicitor. They won’t officially come on board until you have accepted an offer on your property, but you should have them at the ready when you accept your offer.
If you’re buying and selling – try to use the same solicitor for both. It works out cheaper that way.
If you don’t already have one lined up we have hand-picked our own for their expertise, speed and efficiency.
At this point, you’ll have had plenty of interest in your property, and people should be coming to your home for viewings. When you receive an offer, we’ll be sure to negotiate. Some buyers will offer less than they’re willing to pay for the home and we’ll advise if the offer is reasonable. Once you’ve accepted your offer, the sales progression officially begins.
You and the buyer will now have to decide how long will be allowed between exchange and completion, what fixtures and fittings will be included in the sale (and at what price) and whether any discounts will be added off the back of the survey conducted by the buyer’s mortgage provider.
Important note. Suppose the surveyor appointed by your buyer’s mortgage provider finds damp, they may ask that you drop the price of the property by however much the work to fix the damp is estimated to cost. You don’t have to do this, of course, but it may well be a deal breaker for your buyer if you don’t. Remember, neither party are legally committed until exchange, so they could still walk away.
The buyer’s lawyer will now need to make some enquires so they have all the information they need to draw up the contracts. Your questionnaire will revolve around the boundaries of the property, what fixtures and fittings are included in the sale, and whether you’ve had any disputes or complaints with the neighbours. The council will focus on proposed developments, building works, sewerage, utilities, council tax and things of that nature.
Once you’ve negotiated the terms of the contract, the final contract will be finalised and ‘exchanged’. You will pay your deposit, and the sale will be complete in a short time. At this point, both you and the seller are legally committed to the sale. If you choose not to move forward after this point, you could be sued and must return the buyer’s deposit. If the buyer pulls out, they will lose their deposit.
Once contracts have been exchanged you only have as long as was agreed before you must vacate the property. Time to start calling in favours to assorted family and friends.
This is when the property officially changes ownership. You will accept payment and hand over the keys. The bulk of the money and the deed will be transferred by each party’s respective solicitors and your solicitor will register the transfer of ownership with the land registry.
Your provider will have given you and your solicitor a precise redemption figure for your mortgage for completion day. Now the buyer has transferred the bulk of the money to your solicitor, your solicitor can pay off your mortgage for you – well, in a manner of speaking!
Now that everything is done and dusted, your solicitor will send you an account of all their costs, the sale price and redemption of the mortgage.
A fresh, innovative and bespoke approach to property across Stoke-on-Trent, Newcastle-under-Lyme and the Staffordshire Moorlands; backed up by a real local social purpose.
A smooth and successful sale is all any seller wants.
We understand that when selling your home, you want the best possible price and the right buyers.
From providing a free and accurate valuation and putting your property on the market, all the way through to completion, to look after your best interests and to achieve the true value of your home.
With access to buyers across Stoke on Trent, Newcastle under Lyme and the Staffordshire Moorlands, marketing tools to show your home at its very best, and a dedicated team of property managers that are on hand to take the stress out of the whole sales process; we aim to give you the best experience of selling.