Sellers Guide

When the time comes to sell your home it can be a stressful process. This guide is designed to help make moving house as easy and stress free as possible.

1. How much is you house worth?

Call us for your free no obligation valuation 01727 839090!

You will probably have a rough idea of your properties value and know financially what you need to achieve, however house prices do fluctuate depending on market conditions. We would recommend having 3 valuations from local estate agents. They will know what the market is like at the present time and will also have details of similar properties for sale and that have sold in the local area.

2. Instruct an estate agent

55% of our business is from recommendations!

The estate agent works for the seller and works to sell the property for the highest price possible within the current market conditions. They usually work on a 'no sale no fee' basis and so will be working hard to sell your property.

Things to consider:

• The fee structure - fees can vary dramatically!
• Tie in period - most estate agents will ask you to sign up for a minimum period
• How will your property be marketed
• What type of brochure will they produce
• Will they accompany viewings
• Are they easy to get hold of

It is important to trust and feel comfortable with the agent you chose as buying and selling can be a long process!

Once instructed, the agent will need to produce a brochure by taking notes, details and photographs of your property. They are also required by law to see two forms of ID for money laundering purposes.

3. Choose a price

The sale of your home will depend largely on the price that it is marketed at.

Things to consider:

• Price competitively; if the price is too high you may miss suitable buyers
• Expect to get offers within 5% of the sales price
• What do you need to achieve financially; is this realistic?
• What are the current market conditions?
• What have your neighbours properties recently sold for?

4. Getting ready for viewings

First Impressions count!

First impressions are important; if prospective buyers don't like the look of your property they won't want to come inside.

Mow the lawn and tidy the garden, clear paths and drives of leaves and other rubbish repair gutters and eaves, touch up the exterior paint and repair or resurface cracked drives and paths. Place flowers in pots and/or hanging baskets at the front of the house near the door.

Show the property in its best light; ensure the property is clean and tidy.

Make minor repairs.

Do not get carried away over improving the property as this cost may not be recouped.

5. Negotiate the right price

Once you receive an initial offer your estate agent will work for you to get the maximum price possible. Your negotiating power as the seller will be affected by the following factors:

Amount of interest in your property - if offers are flooding in, you pick and choose as you wish, however if your property has been on the market for some time with no real interest, the weaker your negotiating position as a seller.

Current market conditions - if demand exceeds supply, then you can expect to receive a favourable price for your home.

Time pressure - the tighter your time scale to move, the weaker your position in negotiations.

Alongside the offer amount you must also consider the following:

• Is there a chain? Buyers with nothing to sell are generally looked upon more favorably than those with a chain.
• Does the buyer need a mortgage & what is there deposit? Cash buyers are favorable however they may use this to their advantage.
• Time Pressure - as with the seller, the tighter your time scale to move, the weaker their position in negotiations

6. Accept an Offer & Instruct a Solicitor

North Estates are happy to recommend a reliable local solicitor.

Once your have accepted an offer the property will be marketed as 'Sold Subject to Contract' (SSTC) and no further viewings will go ahead.

The next step is to instruct a solicitor. Once both parties have done this a 'Memorandum of Sale' will be sent to all parties involved. Your estate agent will keep in regular contact with your buyer, both solicitors and any other parties involved in the chain.

7. Exchange:

This is a milestone on the road to selling a house. Exchange of contracts is the point at when all parties commit to buying or selling the property; a deposit is placed and a mutually agreeable completion date is chosen.

Now you can confirm removals, redirect your mail and contact utilities companies!

8. Completion/ Moving Day!

On this day the funds required will be transferred. As soon as your solicitor has received the funds the estate agent will be instructed that they can release the keys. Although the keys may be available earlier we advise that you aim to vacate the property by 1pm.