The 17 steps to selling a property in 2021 – it’s not always a simple process but if you know how it works from start to finish, this will make things a little easier to bear.
Moving house is regularly cited as one of the top 5 most stressful life events and this can be exacerbated if you are new to the process. The best thing to do is to stay organised and communicate well with your Estate Agent. Making the process as seamless as possible will reduce your chances of a fall-through or not selling your home within your preferred time frame.
1 – How long can it take to Sell a House?
Ultimately, this depends on several factors. The process typically takes around 4-6 months from instructing an Estate Agent like ourselves through to completion. It can be quicker but also much longer depending on varying factors such as:
- Demand for properties like mine in my neighbourhood
- Is the buyer purchasing with cash or do they need a mortgage
- Does that buyer have a property to sell and, if so, how long is the chain
If the demand for properties in your area is high, you may speed the process up. With cash buyers not needing to instruct mortgage valuations, this could be the key to a quick sale.
How to speed up the process of selling your house?
- Ensure your property is presented in it’s best condition.
- Touch up paintwork, clean carpets,
- Keep it tidy and clutter free for viewings
- Make sure your Marketing is top notch with stunning Photos & a Floor Plan at the very least.
- Choose a cash buyer if you can
- Chain-free buyers (especially first-time buyers).
- Organise yourself as soon as possible
- Don’t feel worried about Micromanaging the sale from start to finish.
- Who is doing what?
- What needs to happen when?
- Don’t always go for the cheapest Solicitor; they may be swamped with work, and your property will be at the bottom of a huge pile.
2 – What is the value of my home?
Getting a minimum of three valuations is critical to get the median, perfectly priced property. Evaluate them and you should feel confident on the actual market value of your property, based on several factors: condition of your property, desirability and how hot the local market is when you are looking to move.
Researching other local property that has sold recently should give you an excellent price indicator. Is your property unique in any way? Have you spent a lot of money on refurbishments? Added an extension?
Getting the price correct is very important, as the last thing you want is to put off prospective buyers before they have even had a chance to virtually view your property with a 360 Virtual Tour or Property Video.
How to proceed with selling your home?
Contact 2 or 3 local agents & Online Estate Agents like ourselves to value your property. The valuation can now be done virtually instead of having to visit physically. For example, at ihometrade, we only offer Virtual Valuations; we do this for many reasons (energy saving, safety and speed of the valuation). We use video calling technology to speak to you about your property, and you can then show us any pleasant aspects of your property that might affect the price.
Pricing a property is crucially important, don’t get greedy, or you’ll be stuck with a property no one wants, plus when people see that your home has been on the market for many months or years, they will instantly think there is something wrong with it.
3 – Figure out your finances
There are several costs involved with the buying and selling a property; Estate Agents Fees (we offer a completely FREE way to sell your home), Solicitors Fees, Stamp Duty, Moving Costs, surveys etc. Getting the best rate on a mortgage is also very important; you don’t want to default on your mortgage payments, so get the best deal possible. We Recommend We Are Mortgages.
4 – Timing is everything
Timing is everything for you as a family or individual, and there is never really a wrong time to sell. Our lives take lots of different directions, and your circumstances will dictate this. Don’t feel pressured to sell at any time by a pushy local Estate Agent. Only you will know the right time.
5 – Let’s get the Energy Rating – EPC
You will need to instruct a DEA to complete an energy audit EPC (energy performance certificate) that will determine the energy efficiency of your property. This certification will give the property a rating like your home appliances. Energy efficiency is becoming more and more important with the massive increase in energy costs and our need to rescue Co2 emissions. Here at ihometrade, we plant trees for every property we list to sell or let, promoting an energy positive life for all.
6 – Let’s list your home
Create a dynamic and positive view of your property, make it stand out and show it in its best light possible.
- Professional Photography
- Floor Plan to give the complete picture.
- An accurate and well-written description is vital.
- Highlight all the main features of your home.
Using the wrong agent and the wrong asking price are the two main reasons the property doesn’t sell. Does your agent offer you all the bells and whistles that we do? 360 Virtual Tour, Professional Photos, Floor Plan & Property Video?
7 – Get your legals in order instruct a solicitor
Solicitors are not only essential, they are a legal necessity to sell your home. They will take over the conveyancing process from taking the deposit, liaising with mortgage lenders, and registering the new ownership with the Land Registry.
Instruct them early, and don’t feel you have to use the solicitors that your agent recommends. They will, like us, usually receive a referral fee. This isn’t always a bad thing as they want the process to be as smooth and quick as possible. So using the recommended solicitors might mean the difference between a fast sale or a sale dragging on.
8 – Viewings of your property
Generally speaking, the most critical buyers who come to view will come in the first two weeks of listing your property. We offer a virtual viewing experience that not only is fast and safe but it also weeds out the time-wasters, ensuring you only invite the red-hot buyers over to view in person. We would also suggest holding an open house day where you have the property perfectly ready to view and time slots for each interested party. Do you want to keep tidying up your home?
Other tips for selling your home include:
- Tidy tidy tidy
- Get a professional cleaning service
- Curb appeal – tidy up the front of your home; first impressions count
- Take the pets for a walk if you are conducting viewings
- Read our 25 Best tips to prepare your home for Viewings here
Is renovating your home wise?
Renovating can add value to the right property, but also, some properties won’t add much at all, so you need to consult a local expert in your area—no need to spend £1000’s if it won’t do anything in terms of value.
9 – Get in the Feedback Loop
Once you have had some initial interest and maybe even some viewings, it’s super important to ask for feedback; the good, the bad and the ugly. This will let you know where you are potentially going wrong, and you can address this ASAP.
10 – Who will buy your home?
How do you know when a reasonable offer is on the table? It’s not all about money here, consider the buyer’s position too.
Good offer on the table? Then is it good to stick with a cash buyer who maybe knocked off 5k or wait in a long property chain? Money speaks but also having a good solid offer on the table is worth its weight in gold.
- Are they prepared to move fast?
- Do they have a mortgage in principle?
- Are they in a chain?
- Are they super keen on your property?
- What timescales are they working towards?
#11 – Say yes and Accept an Offer
You’ve found the right buyer, amazing! It’s time to accept the offer and get the wheels in motion. Get the offer in writing, and remember that accepting doesn’t mean it’s a done deal. Sadly, Gazundering can happen when the buyer offers way less than they had initially at the last minute.
#12 – Surveys & checks
Checks and surveys are part and parcel of the process, so get ready for the bean counters and surveyors to come over to look at your property.
Sometimes based on the survey outcome, offers are often lowered if problems have been identified. For example, the property needs a new roof, has damp issues or have noticed subsidence.
#13 – Contracts
Give the title deeds to your Solicitor, who will then draw up a contract to be sent to the buyer’s Solicitor. The buyer’s Solicitor will also carry out some searches, including Local Authority information.
They’ll also look at things like planning history and any planned developments in the area. You’ll also need to confirm specific details, such as boundaries.
14 – Sign the contract
It’s finally time to sign the contract. Your Solicitor will lead the entire process and inform you what you need to do so don’t worry. You aren’t meant to know everything and that is why you pay them to do this for you.
15 – Moving Timeframes
It’s time to agree on a move out date, and a date for the contracts to be exchanged. This is usually a time to compromise and maybe spend a few nights at a hotel or relatives to ensure the move happens smoothly for all parties involved.
14 – Exchange
Up until the date of exchange of contracts, either party can pull out of the sale. This can happen, but ideally, if all goes to plan, this is the point where the sale becomes legally binding.
A number of things need to happen between exchange and completion, including deposit transfer.
15 – Removal Company or DIY
It’s time to start packing up your belongings and get ready for the move, you can either do this completely yourself which will save you money or get a professional company to come and do all the heavy lifting for you.
16 – Time to Complete
Take your keys and hand them over to the new owners either directly or via your agent. It’s time to look forward to new beginnings and celebrate! Crack open that dusty bottle of Champagne or just make a satisfying cup of tea or coffee in your new home.
17 – Loose ends
Make sure you tie up all those loose ends. You will need to some of the following
You have achieved what some points might have seemed impossible. So if you are looking to sell or let a property soon, please consider our free, fixed fee traditional % rate packages to help sell your home.