Home sale expert legal guide

Guide to selling

You already own your home so you have some experience of buying and what is entailed.  With selling you do need to have all your paperwork in order or the sale will not proceed smoothly. We have dedicated staff who work exclusively in residential sales and are in the office and available to you when you need us. 

KEY STEPS IN SALES;

  •  PLAN
  • INSTRUCT US + request your deeds from your bank
  • BUDGET (see sample budget spread sheet- link to spread sheet here)
  • APPOINT ESTATE AGENT +put your house on the market
  • LISTEN TO YOUR AGENT 

What happens behind all of the above.

 PLAN

  •  How is it all going to tie together? Planning and then following the plan. When you sell you have to move out. So a sale is really a sale and purchase or sale and rent. This means you must focus on both aspects. However this section will deal with  the legal process of a sale.

Instruct us and request your title deeds from your bank;

  • You should contact your solicitor as soon as you decide to sell. Your solicitor will be able to help you at any point along the sales process. They will also start the process of assembling all the paperwork required to progress your sale. Collecting in the paperwork will take a minimum of 3 weeks and sometimes up to 9 weeks depending on any gaps in your title deeds. There have been several changes in  the paperwork needed for sales in recent years and your solicitor will guide you.

Budget;

  • You do need to gather up a lot of information including costs. You should get quotes from all of the agents you will be hiring, estate agent, solicitor, surveyor, architect (if you carried out any work to the house since you bought it),maintenance company (if there is any tidy up work needed before house goes on the market) and movers if you intend hiring a professional removal company.

Appoint Estate Agent and put your house on the market;

  • You need to hire your agent well in advance of putting your home on the market. There are beter times of the year for marketing- your agent will guide you. You may also have to carry out some repairs or tidying up to get the house in best shape. Marketing will require photos of different parts of the house- so make sure they are at their best.

Listen to your agent;

  • Sometimes the best move is to wait, thus it is with selling. If you go to the market when there is little activity your house may not get any interest. Then when the market picks up people will know your house has been for sale for some time and suspect something is wrong- otherwise it would have sold. An experienced agent will know exactly when to go. Your agent will also guide you when to hold out and when to start accepting bids. Do not accept the first bid unless it is well above your minimum figure. Market prices can move very quickly, it is not unusual for prices to jump a percent per week in busy times of the year and then stall for months. Generally prices will surge in spring through to early summer. Long school holidays slow things down. Then back to school in september and the Budget is holding prices back, maybe a bit of a run comes in mid autumn and then a slow down coming into Christmas.  So you will see lots of factors impacting on price.

Link your sale to your purchase;

  • This may be easier said than done. You have total control of your sale but not your purchase- that depends on a suitable house within budget coming on the market. Now you have to tie in with someone elses plans. There may be a chain of purchases which will increase the pressure. As with all of life compromises may have to be made. Your agent and solicitor will help and give useful advice. Do not be afraid to ask your professionals for their view.

Agree your sale;

  • This is a big decision and has implications on several other parties. This becomes a very busy time. You shold tell your solicitor as soon as you have sold and the agent receives the booking deposit. You may also be agreeing your new purchase at the same time so you will have a lot of decisions to make. Do not agree to sell if you are in the middle of another crises in your life. Moving house is one of the high stress events in life. Do not compound that with another crises in your life.

Visit our home sale legal guide here.