The Selling Process
Selling a property is less stressful if you understand the entire process.
Step 1 Accurate Valuation
Your goal when selling should be to sell your property for the highest price in the shortest time, remember, the longer your property remains unsold, your power of negotiation diminishes so it’s important to get the pricing right.
We value thousands of properties every year and we’re at the very centre of the local property market which gives us unrivalled knowledge of pricing property locally.
Step 2 Choosing an Estate Agent
When choosing an Estate Agent, take into consideration what kind of marketing your property will receive, their high street presence and their opening hours. If your agents advertising is limited, so will your selling potential. Also make sure there’s no extra cost for additional advertising and more importantly there isn’t an upfront cost for any work your agent carries out.
You should also be aware that if your agent is not organising the government-required Energy Performance Certificate (EPC) for you, this must be ordered before your property is put on the market.
Fresh do not charge up front and our fees are fixed with no additional costs for extra advertising and we can organise your government required energy performance certificate (if required).
Step 3 Instruct a solicitor
It’s advisable to instruct your solicitor at the same time as choosing your agent. This will help to avoid delays and allow time for the collection of necessary documentation involved in transferring ownership of your property to the new buyer (known as conveyancing).
We can offer recommendations if required to smooth the moving process.
Step 4 Property presentation
Making a good first impression counts and presenting your property at its best is critical to a successful sale.
You may want to consider looking at those little jobs you’ve been meaning to get done, add a fresh lick of paint where necessary and try to declutter to make rooms appear bigger.
Once you’re happy with your properties presentation, we will, in just one visit, collect all marketing elements for your property including: wide angle photographs, floor plans, room descriptions and measurements and have them live on the internet within days, alongside local information, location maps and a printable colour brochure.
Step 6 Viewings
To maximise viewing opportunities, ensure your agent is open when your potential buyers are looking to view properties. Also make sure your agent has buyers to contact prior to adverting.
We have thousands of buyers registered with us and staff are often working outside of traditional working hours, arranging viewings and giving advice when other agents tend to be closed.
Step 7 Negotiating an offer
It takes skill and expertise to negotiate the highest price possible for a property
When you receive an offer you want your agent to perform numerous background checks, you’ll want to know the chain involved, your buyers financial situation, what solicitors they intend to use and what time scales they have in mind. All of these factors can have a huge impact on your sale, so you need this information to be up front and accurate.
We have staff with years of experience, and will advise you and negotiate the highest price possible for your property.
Step 8 Agreeing to sell
Once you’ve accepted an offer it’s important that the following details are agreed:
- Any extras included or excluded from the purchase
- Date for buyers/lender’s survey on your property (if required)
- Target date for exchange of contracts
- Target date for completion
We’ll liaise with other Estate Agents involved in your chain, your buyer, solicitors and lenders throughout the process, keeping you informed each step of the way.
Step 9 Drafting contract and supporting paperwork
Once an offer has been agreed, your solicitor will send out a draft contract for your property to the purchaser’s solicitor who will in turn carry out preliminary enquiries.
Your solicitor should collate all the supporting paperwork (where applicable) i.e.: title deeds, copy of lease, fixtures and fittings list, sellers questionnaire, planning consent, guarantees, copy of building regulations and share of freehold certificate.
Step 10 Service charge accounts
In general this is not applicable to freehold properties.
We recommend that you forward copies of your service charge accounts, estimates for the forthcoming year and building insurance certificates to your solicitor the moment you instruct us to market your property.
Alternatively, in the case of apartment blocks, you can ask your solicitor to collect these documents from the Managing Agent.
Step 11 Exchange of contracts
Exchange of contracts occurs when all enquiries and local search queries have been answered and agreed.
Most buyers require mortgages. Once the mortgage offer has been confirmed, the purchaser is ready to exchange contracts with the seller. The contract is signed by buyer and seller and any deposits (usually a 10% minimum of the purchase price, but this can vary from sale to sale) is either transferred or paid in the form of a banker’s draft by the buyers solicitor.
The completion date will be set at this stage by mutual agreement.
Step 12 Completion
This is generally set a few days to a few weeks after exchange of contracts, depending on the personal requirements of both the buyer and seller.
The agreed price (less deposit) is transferred from the buyer’s solicitor to your solicitors account and your fees and bills will be settled.
Congratulations, you’ve just sold your property through Fresh!