Step-By-Step Guide To Selling Your Home

February 4, 2023

Selling your house may be intimidating, especially if you are also trying to purchase another piece of real estate. Making confident choices when selling a home might either save you or lose you hundreds of pounds. Our selling checklist includes all the information you want concerning the house-selling procedure.

Tips for selling a home

Our detailed instructions explain the house-selling process. We provide a quick explanation of each step you will probably take while selling your house. You may learn more information by clicking on the links in each area.

1. Determine if you should sell.

  • It could be worthwhile to weigh the costs of adding an addition, remodeling the attic, or excavating the basement if you are considering selling your house and purchasing another one because you need more room. Due to the high purchasing and selling prices (especially with stamp duty), expanding your current house rather than moving might save you money.
  • Maybe you are considering downsizing? See the advantages, disadvantages, alternatives, and things to consider in our guide. Should I Downsize?
  • Depending on your situation, renting rather than selling your property may be the preferable option.

2. Make a plan for your financial

  • You should have a general notion of your home’s value before you sell it. Having a mortgage to pay off will also enable you to determine how much money will be left over. Try out our free, immediate-value tool.
  • To find out whether you will be subject to early repayment fees if you convert your mortgage to another lender or if you may port your mortgage to a new house, pull out your mortgage documents or contact your lender.
  • This is a wonderful time to remortgage to a better deal if you are moving to a more costly house or your mortgage term is ending. Talk to our fee-free mortgage partners to find out how much you may borrow and which lender would give you the best deal.
  • Figures will come close to being accurate in the early phases. You do not know how much you will sell for, and you will not know the exact redemption (amount outstanding) for your mortgage until after you have exchanged contracts and established an agreed-upon completion date (see below)
  • To prevent delays, plan each step. Read our manual. How long does getting a mortgage take?
  • Read our guide to understand the expenses associated with selling and assisting you in creating a budget. What is the selling price?

3. Choose if you should rent a home rather than buy it next.

  • Renting while you sell your house might increase total costs, but it can ease some pressure to purchase a new house quickly.
  • Additionally, because you will not be in any rush to finish your subsequent acquisition, you will not have to compromise on your sale price or risk selling your house for less.
  • You will not be pressured into purchasing a new house that is less than ideal just because you have found a buyer for your existing one.
  • Renting before purchasing after selling your home will interrupt the housing supply chain, making you a more desirable buyer.
  • See our manual. Before I purchase a new house, should I sell my current one? For further details
  • If you decide to purchase and sell simultaneously, see How to buy and sell simultaneously before doing so.

4. Select a real estate agent to sell your home.

  • You have three options for selling your house: on your own, via a neighborhood agent, or online.
  • You must study before selecting a local estate agent if you do so. To choose the finest real estate agent, see:
  • Identify the top local estate agents based on their success rate, sales success rate, and the chance of obtaining the asking price. Utilize our free local estate agent comparison tool to find your ideal realtor.
  • You will need to decide on a charge with the estate agent; aim for 1% + VAT for a lone agent. What should I pay the real estate agent?
  • When selling a property, using online estate agents is less expensive. Examine their capabilities and pricing. Online Estate Agent Comparison
  • When choosing an estate agent, be sure to thoroughly read your contract — estate agent agreements: things to look out for
  • Eliminating the estate agent & selling your property yourself may save you money if you have the time, are organized, and are ready to put in the effort. But it is not for the novice or weak-willed.

5. Get an Energy Performance Certificate

  • A standard certification called an energy performance certificate (EPC) rates properties according to their energy efficiency. When selling their house, homeowners must provide prospective purchasers with an EPC.
  • Before you put your house on the market, you must at least have applied for an Energy Performance Certificate. Learn why and how much an EPC should cost, and now receive estimates from an EPC surveyor.

6. Decide how much to sell your home for

  • What price to list your house for is one of the most difficult choices you will have to make while selling it.
  • Do your homework and get intimately familiar with the regional market.
  • Request appraisals from a few estate agents, but do not always choose the most expensive one. First, get a free, instantaneous online value.
  • Remember that purchasers will undoubtedly attempt to negotiate a reduction, so increase your willingness to accept by 5% to 10%.
  • See our manual What should I charge for selling my home?

7. Get ready to sell your house

  • If you “stage” your house well, you may increase its value and the likelihood that it will sell more quickly.
  • Clean up, get rid of extra clutter, give the place a new coat of light-colored paint, correct any little issues, and tidy up the area.
  • See our article on how to increase the value of your house and speed up the selling process.
  • Do not underestimate the value of your home’s curb appeal. More than 68% of homeowners think curb appeal had a role in their decision to purchase a property, according to the results of our 2019 HomeOwner Survey. The most crucial elements were the quality of the windows, the roof’s upkeep, and the cleanliness of the front lawn and driveway/path. We have partnered with Checkatrade to locate nearby tradespeople so you can get those projects done quickly.

8. Hire a conveyancing attorney

  • You must choose a conveyancing attorney for the legal tasks related to selling a home. Find the best conveyancing attorney for you by immediately comparing prices and reviews.
  • Before approving the sale of your home, you should choose the business you wish to work with to ensure the transaction proceeds. You can only officially teach after you have accepted an offer.
  • See our list of questions to ask your conveyancer and our guide to learn more about the average cost of conveyancing costs.
  • Get an estimate from the conveyancing company that your estate agent suggests, but be sure you compare it to other quotes. A sizable referral charge can be tacked on to your account. See, Should I employ a solicitor for my estate agents?

9. Complete the necessary questions

  • To fully educate the buyer on the property and the sale, you will have a range of paperwork, questionnaires, and papers available. The conveyancing procedure is described here: For vendors.

10. Accept a proposal

  • Good news! You have been given an offer. Legally, the estate agent must forward all offers to you.
  • Examine the various buyer types and how to respond to their offers before accepting bids.
  • If the offer does not satisfy you, you have three options: reject it outright, hold out for a better offer, or ask the estate agent to attempt to raise the price.
  • You must officially accept an offer after you are satisfied with it.
  • Remember that accepting an offer does not make you legally obligated to do so. You may always change your mind or accept a better offer later (gazumping), but keep in mind that the buyer may find this disturbing.

11. Negotiate the draught contract

  • You will have to decide, together with the buyer:
  • The period between a trade and its conclusion (usually 7-28 days after the exchange of contracts)
  • What furnishings will be used, and how much will they be charged for them?
  • Any reductions resulting from issues the survey identified

12. Exchange contracts

  • When you and the buyer exchange contracts, you both commit legally to selling the property, and they both commit legally to purchasing it from you.
  • The buyer’s money will be refunded to them if you leave after this without a valid cause, and you risk being sued.
  • Read our guide for additional information and to learn about the specifics of the procedure. How exactly do I trade contracts?
  • If you sell a home, you are in charge of maintaining it up until the transaction is finalized, so be sure you have buildings and contents insurance coverage for that time.

13. Move out

  • You are free to leave anytime, including on the day of completion.
  • Moving out in advance reduces stress if it is feasible (if you have somewhere to move to)
  • The property must be in the agreed-upon state, complete with all fixtures and fittings, at completion time.
  • The buyer and estate agent could visit between your departure and completion to ensure everything is in order.
  • Find the best moving company for your relocation and get moving estimates.
  • Utilize our Moving House Checklist to organize your relocation.

14. Complete the sale

  • The transaction is complete when the property transfers hands, you receive payment, and you give over the keys.
  • It occurs on a predetermined day, often at noon, like a duel.
  • The money is exchanged, and any property deeds are transferred between each side’s solicitor or conveyancer on the day of completion.
  • Your lawyer or conveyancer will file the ownership transfer with the Land Registry.
  • Find out more about what to anticipate on the completion day.

15. Pay off the mortgage

  • The mortgage provider will have sent a specific redemption number (outstanding amount) for your mortgage on the day of completion to you and your conveyancing attorney.
  • The purchaser has now handed the funds to your conveyancing attorney, who will pay off your mortgage on your behalf.

16. Agree with the real estate agent and conveyancing lawyer.

  • Your conveyancing lawyer will provide you with an account upon completion that will include all of their fees and expenses, the selling price of the home, and the mortgage redemption.
  • The conveyancing solicitor may complete both deals simultaneously if you are buying and selling a home, including paying stamp duty for the home you are purchasing.
  • Your conveyancing attorney will see that the Land Registry records the ownership change.
  • Sometimes there is a little difference, and you can even receive a tiny reimbursement.
  • The following is a list of the documentation from your home sale that you should save and prepare for your buyer.

If you’re looking to sell or let your home with a Lee On the Solent Estate Agent, Stubbington Estate Agent, Gosport Estate Agent, Fareham Estate Agent, Portsmouth Estate Agent then please do no hesitate to email on info@gshomes.co.uk or call on 023 93 960 169.

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