The selling process – simplified
The process of selling a house involves several steps, and it can be confusing. So we’ve broken down the process into easy-to-understand steps, so if you’re selling a house, you’ll know what to expect.
1. Preparing for a successful sale
Once you’ve decided to put your property on the market, the first step in the house-selling process is to get an accurate valuation. This helps you to set a realistic asking price and choose an estate agent who will achieve a successful sale on your behalf.
2. Marketing your property
When you’ve instructed an estate agent to sell your home, they’ll organise for professional photos to be taken of the inside and outside. Your home will be listed on major property portals, like Rightmove and Zoopla, and the best estate agents will prepare a brochure that highlights the key selling points of your home. A For Sale sign may be put up outside your home too.
3. Viewings
Your estate agent should handle and conduct all viewings as they’ll be best placed to explain the home’s benefits to buyers. You’ll just have to make sure that your home is ready for people to come and look around, and be prepared to liaise with your agent over timings. The more flexible you can be with when viewings take place, the more opportunity you’ll have to sell your home.
4. Negotiating offers
Potential buyers will make an offer to your estate agent, who should call you as well as inform you of the offer in writing too. Your agent is acting on your behalf, so they can give you expert advice on whether to accept or decline the offer, although ultimately the decision is yours. There will often be some negotiation before a selling price is agreed upon – it’s useful to have an estate agent you trust who can help you with negotiating offers on your house.
5. Conveyancing
Once you’ve accepted an offer, you’ll move into the legal side of the process, which is called conveyancing. It’s best to instruct a solicitor to handle this, and your estate agent should be able to recommend legal professionals.
The buyer will usually have searches carried out on your property during this stage, and a draft contract will be drawn up for you to look at. Good agents will stay active throughout this process, liaising with all parties on your behalf and keeping you updated with how the sale is progressing.
6. Exchange of contracts
Once buyer and seller are happy with the house contract, as well as the date for completion and moving, both sides will sign it and the buyer’s deposit is paid. At this point the buyer becomes legally responsible for the property.
7. Completion
The final step in the house selling process is called completion. This is the day the rest of the funds are transferred by solicitors, as well as any stamp duty owed, and the house exchanges hands and moves into the buyer’s ownership. As the seller, you’ll have to vacate the property and hand the keys to your estate agent by an agreed time.
Fancy keeping things simple when it comes to selling your house? Speak to Carter & May today to kick things off with a local estate agent you can trust.