QCFP Selling a property process
What you need to know from the selling process. Firstly it would advisable to ask yourself why you are looking to sell your home, what you are looking to buy and what properties are selling for in your area. On doing some initial research you would then need to instruct an estate agent and you may be able to negotiate the selling fees. They will organise an appointment to come out a value your home. You need to make sure that you are selling your home at the best possible price in the shortest time, but be wary that the length of time it is taking to sell your home on the open market at the moment.
On deciding what agent you are going to instruct, take consideration over the opening hours, when they conduct the viewings, their presence in the marketplace and on the high street and what kind of marketing will your property receive. Your agent should also be able to instruct an energy performance certificate (EPC) which a government requirement. Your property must have an EPC before your property can be marketed to the public.
A solicitor of your choice or a recommendation from the estate agents will need to be instructed. The successful sale of your property can be reliant on an efficient and experienced solicitor. First impressions count, so you will need ensure that your property is presentable for a successful sale. Maybe those odd DIY jobs that need doing could be finished, a lick of paint to smarten the property up and maybe de-clutter to make the rooms look larger. Photographs will be taken of your property to prepare a brochure for inside the estate agents and a take away brochure for potential interested buyers.
If you are lucky enough to secure some viewings, the estate agent may recommend accompanied viewings by a member of their team who can use their knowledge and experience to help secure the buyer. Longer opening hours will maximise viewing opportunities for your property.
On receipt of an offer, you will be notified by the estate agency by telephone and a written copy of the offer will arrive on your doorstep for your reference. Any special conditions will also be highlighted in writing and the agent with check the buyers financial status and their ability to proceed if and when you decide on accepting the offer. If you are happy with the offer and accept the offer, the agent will prepare the Memorandum of Sales document and they will write to both parties to confirm the agreed value for the sale of your home. Solicitors’ details will need to be confirmed at this stage.
Your solicitor will send out a draft contract to the buyer’s solicitor who will then carry out further enquiries on the property. Dates for survey will also be agreed at this stage, when the exchange of contracts is likely to be along with a proposed completion date. There are no legal obligations until the contracts have been signed.
The exchange of contracts will happen after confirmation from enquiries in regards to the draft contract, proof of a good title, any specific issues highlighted in the lease, local search queries, fixtures and fittings information and the buyers evidence of a mortgage offer or cash funds in the bank should you manage to find a cash buyer. On receipt of a signature from both parties the deposit (normally 10%) would be transferred by the buyer’s solicitors to your solicitor. The completion date can then be organised.
On completion the remaining 90% is transferred from the buyer’s solicitor to your solicitor. You will then receive a call once the funds have cleared and they will advise when they can release the keys. The bit you are waiting to hear is that your property is no sold and completed!
Stevski Rubicon is a Sell House Fast expert If you are looking to sell your house quickly ,Sell House Fast Solutions and advice can be provided by the We Buy Any House team.
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