Welcome to the world of house selling
Whether you are selling your first home because you need to, or simply wish to, the selling process can often be a little daunting. The good news is that we are here to make this as easy and hassle free as possible, to minimise the stress levels and provide you with a thorough service from day one through to the handing over of your keys upon completion. Bradleys was created to provide the Complete Property Service, so not only will we be able to keep you informed throughout the process but we can provide you with the services that you need as and when you need them.
The most important aspect of selling your home is to get an accurate valuation.
Where to start?
To help guide you through the selling process we have created a timeline of key stages of the process. We hope that you will find this useful but please do not hesitate to contact us to advise you directly as each property sale is different and therefore we can give you personalised advice to suit your situation.
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STEP 1
Establish Mortgage Affordability
Before you do anything else the best thing to do is check with your current mortgage lender what your position is in terms of your existing mortgage. There could be costs or even penalties for changing mortgage products. To be sure of the position, speak with a mortgage adviser and provide them with details on your existing mortgage.
When selling your home you must consider your current mortgage position, whether you are tied to a product for a period of time (e.g 3 year fixed term) and whether that product has a penalty should you change it. The value of your home compared to the amount of mortgage you have outstanding will provide you with the amount of equity you have. This can then form your deposit on the next property if required. You can speak with your current mortgage provider but to ensure you get a full picture, make an appointment with a mortgage adviser who will be able to run through this with you.
Speak to a mortgage adviser -
STEP 2
Arrange an Accurate Free Valuation
To know whether you can afford to move, you must know the realistic and achievable value of your home. You can then add this to the information you have obtained from a mortgage adviser and get a clearer picture of whether a house move is possible.
When selling for the first time, you will have to consider the amount of mortgage you have outstanding on your current home compared to the value of the property to see what equity you have. So it is time to get a valuation on your home. It is advisable that you obtain 3 valuations, particularly if you have an unusual property. There is lots of information available online however, we will be aware of the latest demand for properties like yours and be able to consider that along with previously achieved prices for similar properties. This ‘comparable evidence’ will be highlighted to you during the valuation to show you how we have reached our valuation. Beware of agents that do not show you how they reach their figure and the estate agents who may deliberately try to ‘round upwards’ to make their valuation stand out against the others. This can be a dangerous trap to fall into because, on one hand you want as much as you can for your home, and on the other you never get a second chance to make a first impression and the longer a property remains for sale, the higher the chance either it won’t sell or that you will have to reduce the price considerably to ensure it does!
Arrange a free and accurate valuation -
STEP 3
Check You have a Valid EPC
Before you place your property up for sale it is law that you must have either commissioned an EPC or have an existing valid EPC. An EPC provides information on the property’s energy usage and ways in which it can be improved and is valid for 10 years once created.
The principle underlying an EU Directive from 2007 and the regulations is to make energy efficiency of buildings transparent by using an EPC to show the energy rating of a building, when sold or rented out, and recommendations on how to improve energy efficiency. You can check if your property has a valid EPC by visiting www.epcregister.com or when you have an estate agent to value your home, they will be able to find this out for you. Should you require an EPC, you can arrange for one of our qualified Domestic Energy Assessors (DEA’s) to visit your home and produce one for you. This can then be used as many times as is required for a 10 year period. Should a property have any changes to the key areas that affect an energy rating it would be beneficial to get an updated certificate created to reflect the improved efficiency.
More guidance on this can be provided by our staff and if required, one of our many qualified DEA’s. Should you wish to order an EPC for your property simply request an EPC.
Arrange an EPC -
STEP 4
Marketing Your Home
Having done your research, you should now get your home on to the market and of course there will be no agent better placed to do so than us! You must remember that good quality marketing to local, regional, national and international buyers will gain you the best price for your home.
Deciding on which estate agent is not always easy on the face of it. In fact it may look like all estate agents have the same offering; advertise on the internet, sometimes newspapers, show people around your house and then get an offer for you! If only it was that easy. The service we provide to you will start the moment you contact us for a valuation, followed up by the valuation appointment itself. This can be a stressful time so choosing an agent that will communicate with you the whole way through is essential, but first and foremost, that is exactly what we will do, by contacting you every week with an update.
The marketing of your home will have a direct impact on how much interest it receives and in turn how much you achieve for it, so we invite you to look at how we present our properties. We ensure every property has a floor plan, multiple photos. Ideally we would like every property to have a video, albeit we are not quite there with achieving that just yet, perhaps your property is ideal for one of our Presenter Led Videos or an Audio Tour.
>Newspaper advertising is old news as the internet provides the same information far more quickly, so it is really important that your property is featured on two main portal websites (Rightmove and Zoopla) as these provide more visitors and enquiries than any others. Plus, as a Bradleys customer, you’ll have the exclusive opportunity of a FREE second online listing with our Market Plus service from Homewise.. This increases exposure, getting more interest for your property and improving your chances of finding the right buyer sooner.
To find out more about Bradleys marketing, you can view our Bradleys brochure or you can visit our marketing page to see what we do differently.
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STEP 5
Instruct a Conveyancer
As you may recall from when you purchased your home, you will require a Conveyancer to oversee the legal transfer of a property from one person to another. The sooner you get a law firm preparing for your property sale, the quicker and smoother the transaction will be. We can instruct a reputable company on your behalf should you wish.
It is becoming more important to be prepared early when selling a home. You may want to use the same company that dealt with your purchase but you do not have to do so, it will not cost anymore/less and it won’t save any time as the same procedures will have to be followed. Here are a couple of points that may help you make a good choice: choose a local firm that you could visit should you wish to do so, local firms will also be aware of maintaining a good reputation and therefore generally provide a good service. Being able to contact your conveyancer is essential and so ensure you have access to the person you will be dealing with. Modern technology allows things such as case trackers, so you can log on and see what progress is being made at any given time.
We have established relationships with many local companies that we can instruct on your behalf. The advantage we also have is that they will provide your conveyancing on a ‘no sale no fee’ basis when instructed by us. We can also select the firm that can provide you with the best service at any one time. To find out more you can visit our conveyancing page.
If you would like more information about instructing a law firm via Bradleys click here!
Talk to us about Conveyancing -
STEP 6
Receiving an Offer on Your Home
At the point we receive an offer your home move becomes a bit closer. We will explain the position of the person making the offer, the timescales they are suggesting and of course the vitally important figure they have offered.
When receiving an offer, make sure you listen to all the details (and maybe write notes) on the offer. It is important to consider what position the person is in, whether they have a house to sell and are involved in a chain and if so, how long that chain is. They may be a first time buyer but do they have a mortgage agreed in principle? The figure is of course important but also consider the timescales they are proposing and check whether that may fit in with your situation. We will provide you with the details but, unless it is an obvious yes/no decision, take your time and digest what has been put forward. If your property has been on the market for longer than you would have hoped, it could be a good time to review what the current market conditions are and also consider the feedback you have been given from previous viewers before making a decision. If you feel it beneficial, then we can always make arrangements to discuss this with you in person. Remember that many buyers will make a further offer, so don’t rush to accept the first offer you are made. Every offer that is made must, by Law, every offer that is made must be put in writing by the agent to each party involved. If the offer you receive is from a buyer that can proceed (they do not need to secure a buyer for their property), then whilst considering the amount that has been offered on your home, assuming you are intending to buy another home, you in turn could make an offer on the property that you like, reflecting the figure you have been offered. We would be only too happy to deal with this for you, should you wish.
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STEP 7
You Have Your Sale Agreed
Once we have received an acceptable figure on your property we will inform all parties of the details and your conveyancer will be able to issue a draft contract very quickly to your buyers’ conveyancer.
Well done, you have agreed a sale on your property! That is half the job done and now we have to focus on getting the sale through to an exchange of contracts. This is where you will really benefit from having instructed a conveyancing company at the outset as they will now be able to send your buyer a draft contract immediately and show your buyer you are serious. This in turn will get commitment from them to show the same. The focus for all concerned, but especially you as the seller, is to get each aspect completed at the soonest point you are able to do so. The sooner you complete a form or reply to any questions, the sooner your conveyancer can send the information to the buyers’ side to deal with.
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STEP 8
Sales Process
Don’t forget you can contact your conveyancer at any stage and get an update as to the progress of your sale and purchase, this is the same for your mortgage adviser. We will automatically contact you on a regular basis as well and discuss whether all parties involved are on track to achieve the timescale set out. You can also track progress with Bradleys conveyancing online 24/7.
There are various aspects of the selling/buying process that can take time, so if you are unsure at any stage you should contact either us, your conveyancer or mortgage adviser depending on what it is regarding. Some of the process you will remember from when you purchased your home but half of it, in theory, will be new. Don’t be shy in asking questions if you don’t understand, this is your first time selling a home and you are not expected to know it all, in fact many experienced sellers don’t know many aspects of the process as it is not a regular occurrence for most people. Throughout the process we will endeavour to keep you updated on a weekly basis and as part of that, discuss the dates that were targeted at the outset and confirm whether they are still realistic. The speed of your sale will be determined by all parties doing what is required at the earliest opportunity. We will be able to co-ordinate the relevant information and prompt anyone who hasn’t done what they need to. Don’t wait to hear if you feel you should have done, simply pick up the phone.
The mortgage adviser will be the best person to give you an update on your application and let you know the timescales you should expect to receive the formal offer of the mortgage. Different lenders will have different procedures, the adviser will know in advance and be able to advise you accordingly.
Don’t forget the case tracking option with our panel conveyancing firms. You only need an email address and access to the website and you can see what has been done and what is yet to be done 24/7!
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STEP 9
Exchanging Contracts
In case you don’t recall, this is when both parties have agreed to the terms of the deal (signed contracts) and your conveyancer will receive a deposit from your buyer to legally bind the deal.
Hopefully you will experience a hassle free transaction with very few, if any, delays on your sale with all parties having been kept informed of developments throughout the transaction. Before you legally bind your sale, your conveyancer will send you contracts to read through and sign, it is best to ensure you take the time to read these documents and maybe ask a friend/family member to go through it with you for peace of mind. You then sign the contract and send them back to the conveyancer. We will have been liaising with all parties about completion dates and, as you may recall, a date must be agreed before an exchange of contracts can take place. Your conveyancer will call you before going ahead and exchanging to confirm you are happy to do so and confirm the date and then call you after exchange of contracts has taken place. We will then need to discuss the arrangements regarding your keys ahead of completion.
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STEP 10
Completion
This is when your solicitor will receive the monies from your buyer and if you are buying another property, send the monies for your purchase to the seller’s solicitor. This can be rather more hectic when doing both so make sure you don’t pack the kettle and mugs until last!
On the day of completion your conveyancer will ring you when they have received the money from your buyer, it is at this stage they will also call us and inform us that we can release the keys to your buyer. This technically is the moment you are no longer the homeowner and therefore have to vacate the property, although most people allow for some flexibility.
Congratulations!
Free Accurate Property Valuation
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