Want to sell your home in St Neots by summer 2022? The countdown has begun!
Selling your property and handing over the keys can take anywhere from 4 months to 6 months. Which means if you want to be in your new home by the end of summer 2022, then you need to start the process now!
Don’t be tempted to wait until you’ve found ‘the one’ if you need to buy a property too, because if a house becomes available that you really do love, then being in a proceedable position can make all the difference.
You won’t be forced to sell as quickly as you can, probably accepting a lower offer than you would have wanted, and, to compete with the other buyers who could be in a better position than you, put a higher offer in.
Nope, no, not a good idea!
Here’s what you need to know to make the process go as fast as you can possibly make it…
Phase 1 – Preparation
We think it’s worth doing a few things up front, or at least thinking about them now, so you can be prepared when you need them:
Step 1 - Document checklist
Although it’s not the fun part of selling your house, this checklist of documents you need will help keep the process on track because if an offer comes in, you don’t want to delay while you tear your hair out trying to find all of this:
• Planning permission certificates if you have any
• Energy performance certificates if the property was bought less than ten years ago
• Building regulation certificates
• Electrical certificates
• Recent utility bill,
• Lease (if it’s leasehold)
• Builders warranty if the property is under ten years old
Step 2 - Find a solicitor or conveyancer
Solicitors and conveyancers do all the legal paperwork, Land Registry and council searches, draft the contract and handle the exchange of money. To make sure the sale progresses, you should decide which firm you want to use before you agree to the sale of your house.
Step 3 - Register with estate agents
Although you don’t want to start this process with a property in mind, you do want to keep an eye on what’s out there. If you register with Giggs and Company, we’ll make sure we keep you updated before properties hit Rightmove or Zoopla.
Step 4 - Decide what you’re willing to leave behind for a buyer.
It may be part of the negotiations or enquiries so knowing what’s a hard no up-front will save time later.
Step 5 - Find a removal company you trust.
Phase 2 - Selling your home
Step 1 - Know the value of your property
Do your homework and find the best three agents in your area for a market appraisal. Ask your friends who they used, check Google for positive and negative reviews and see whose boards are on properties like yours.
Each agent will give you a value that your property could sell for, dependant on your time frame, and the appointment should take under an hour.
Top tip
Don’t be afraid to question them about why they think your home is worth what they’ve suggested and ask them how successful they at achieving the asking price or over.
Step 2 - Choose an agent
A good agent will be one who knows your ideal buyer like the back of their hand and understands the local property market. Choose the one you feel most confidant in and comfortable with.
Top tip
Don’t always go for the company with the cheapest fees. Cheaper doesn’t always mean more money in your back pocket.
Experienced agents will work with you to determine the best strategy to sell your property at the best price, with a fully realised marketing plan, and negotiation skills to match. The killer question to ask an agent is can they evidence their average difference in price between the initial offer and the final offer? If it’s 15k, then a higher fee was worth paying!
Step 3 - Marketing your property
Before your property is listed on the agent’s website and property portals like Rightmove and Zoopla, the agent will send a photographer round to take shots of the house. Go with them to make sure that cushions are plumped, bedspreads are smooth and toilet lids are shut. Those small touches can make a real difference.
The floor plan and description will come next. Check the copy with your estate agent before they publish it to make sure there’s nothing missing.
Top tip
Why don’t you share your online listing with your social media networks, it can’t hurt to put your property in front of as many people as possible!
Step 4 - Get your home ready for prospective buyers
To make your house buyer ready, give it a good clean, tidy it up and declutter! The buyer wants to be able to imagine what they can do with the space so don’t leave things lying around.
Don’t forget to check your outside space too for kerb appeal. If you have a lawn, mow it. Get rid of any weeds, fix any fences or gates, and clean the windows. First impressions really do matter, and you want to show your home off to the best of its ability.
Top tip
Sometimes we can all go a bit ‘house blind,’ so get a trusted friend to give your house a walk through as if they were a buyer and point out the first things that come to mind that might put them off. Breathe deeply, offer them tea, and then fix the problems.
Step 5 - Negotiate and accept an offer
It’s likely that your buyers will offer less than the asking price and it’s up to you whether you accept or negotiate.
There are a few things to take into consideration, how likely are they to increase their offer, how long has the property been on the market or how quickly do you need to sell?
Top tip
Hold your nerve. Remember how we said earlier that choosing the cheapest agent doesn’t always pay off? This is where your agent’s experience and skills in negotiation will make a difference.
Phase 3 - Exchanging contracts
Step 1 - Formally instruct your solicitor
If you found a solicitor in phase 1, contact them now to let them know you have accepted an offer on your house. Give their details to your agent who will write to both solicitors with the details of the sale.
Top tip
If you left it to the last minute, ask your agent if they can refer you to one they work with regularly. It probably means they have built a good relationship with them which may help in the long run
Step 2 - Fill in the property forms
As the vendor, you’ll receive some property forms to fill in so you can give specific information about the house and what you might want to leave behind for the buyer.
Top tip
Knuckle down and get them done as quickly as possible to move things along. You’re probably grateful right now that you found all the information required in phase 1!
Step 3 - Enquiries from the buyer’s solicitor
Once the buyer’s solicitor has examined the paperwork for discrepancies and completed the three searches, there may be some enquiries to iron out. You reply through your own solicitor.
The buyer’s solicitor sends a report to the buyer explaining the deeds and the paperwork. If the buyer has no more questions, then they sign the contract in readiness for the exchange.
Top tip
Be proactive, keep on top of all correspondence and reply promptly.
Step 4 – Agree the moving date
The moving date is agreed between you and the buyer, which is called the completion date, and the solicitors call each other and exchange contracts.
Top tip
At this point, no one can back out! So make sure you’re happy with everything.
Step 5 - Move out
Once you have the completion date you can arrange the move. Get yourself organised and contact the removal firm you prepared in phase 1 to book a date.
Top tip
If you’re moving at a busy time of year you may have to give a removal firm a bit more notice than normal when you’re booking a date.
Step 6 – Give all the keys to your agent
When you’ve moved out, give your agent all the keys to the house.
On the day the sale completes, the buyer’s solicitor sends the purchase money through the banking system to your solicitor. Your solicitor then rings the agent and tells them that the buyer can have them. This is usually around midday.