When selling your home it’s good to be prepared before putting it on the market and finding the best place to sell in current market conditions at the proposed time off selling.
Sorting any finance
Before selling your house, you need to find out if you have a mortgage what the settlement fee is for the mortgage and that the sale of the property will be enough to settle the mortgage otherwise you will need to make sure you have the extra funds from your own resources to clear any outstanding mortgage at the point of sale.
Do you have any other charges on the property that could cause a problem? , you need to get redemption figures on any charges you have on the property before selling to make sure the proceeds of the sale will cover the existing mortgage and any further charges .
Check if when selling this will redeem a mortgage that is in a fixed or discounted period that could attract a redemption penalty as the redemption penalty could be minor or amount to thousands and take this over the amount needed to settle the mortgage from the proceeds of the sale.
Preparing the property before putting it up for sale .
When selling the property to get the best price it can be worth in the current marketplace, making it look presentable will aid this process, things like making sure the garden is in good order for when viewers come to visit mow the lawn , tidy the weeds clean the patio . Inside the house if you can paint anything that needs painting, fill any cracks that need filling and make sure the house is not cluttered. A well presented house does appeal to more buyers than an untidy un-kept house the will attract lower offers from people who will think you might be down on your luck.
Do some research of your own
Have a look on some online portals for house sales like Right move and Zoopla , you can get a good estimate from these resources how much your house will be worth approximately , so when the agents come round to give you an estimate you will know if the valuation is accurate or designed to make you use them to sell the property an overvalued property a tactic a lot of agents will try to use to make you sign a contract with them and then get you to drop the price when buyers make an offer . Also if after your research you might decide not start the selling process as the price might not be what you need to achieve and it might be worth waiting a little longer .
Building work
When selling your home any building work you have had done that requires planning permission or buildings regulations, the selling solicitor will need to provide these to the purchasers solicitor so you need to make sure you have all this paperwork ready, or you will need to apply to the relevant authorities for a replacement copy before putting your property up for sale otherwise the sale could fail at this hurdle.
Decide how you want to sell the property
There are a wide variety of ways to sell your property, through an agent, through a portal online, auction or privately if you have a good group of contacts to put this out to. The most main stream way of selling is through an estate agent, most estate agents have a contract with a large online portal so your property is visible to a lot of potential buyers across the UK and not just locally.
When choosing an agent it is worth working on recommendation or online reviews like trust pilot as they all differ greatly in the way they work. Also you need to negotiate a good contract with them if you allow them to have sole agency you will get a better rate to sell, mostly all agents will negotiate the rate if you ask.
Multiple agent contracts are more expensive as the agent will need to spend money on marketing your property only to lose the sale to another agent. There are some resources where you can pay a fixed fee and advertise your property online not using an agent, this will require you to conduct your own replies to enquiries and arrange private viewings and you won’t have the experience of an established agent to help in negotiations but will work out cheaper if you manage to sell with this method.
To be continued.
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