Whether you are new to selling your property or simply haven’t done so for a while, here is our guide to how it all works. Market Appraisal
Whether you’re completely settled on selling your property or are just mulling things over, give us a call and we will agree a time to visit and carry out an in confidence no obligation free valuation of your property.
We will suggest what figure would be a realistic starting price for marketing and will back this up with evidence of similar properties nearby which have been on the market or have been sold.
Preparing for marketing
- When you decide to put your property on the market, we’ll agree times with you for various tasks to be carried out, including:
- Writing up the property details, and carrying out the photography of your property.
- Compiling the floor plan, allowing buyers to see the full layout, shape and flow of your property.
You must obtain an Energy Performance Certificate (EPC). This is a legal requirement and must be obtained before marketing can begin. This is simple for you to arrange and we can recommend energy assessors to you who can undertake an EPC for you. Marketing
When we have combined all the text, photographs, floorplan into your property brochure, and we have your approval, we immediately email all buyers on our database looking for a property similar to yours. We also call and text the buyers matching the criteria, and upload your property to our website and other sites, including Premium listings on Rightmove and Zoopla.Viewings
This is the key to the sale. Ease of showing your property will increase the number of viewings and create buyer confidence.
It is important that we can access your property smoothly and swiftly. We will agree convenient times with you and if there are any times that are better than others, please let us know and we’ll do our best to fit everyone in. Contact details for the current occupier is essential so we can react quickly to the interest generated in your property.
We endeavour to accompany potential buyers on viewings. Where we have keys to the property we will accompany all viewings. Being able to show your property at short notice is important and we would recommend that you provide us with a set of keys as this will enable us to maximise the number of viewings at your property.
After each viewing we will call the potential buyer to get their feedback. We will regularly update you on any progress with potential buyers and discuss any changes that we think might help your sale. Agreeing the sale
Within a few weeks of marketing we would expect to have offers from would-be buyers and will discuss every offer with you with the aim to of achieving the best price.
It’s worth remembering that as well as the financial offer, other factors should be taken into account, such as:
- How well yours and the buyer’s timescales match
- How is the purchase being funded (cash/mortgage)?
- Is the purchase dependant on a sale?
- Are they in a chain?
Once the sale has been agreed we will need both yours and the buyer’s solicitor’s details so that the sales process can commence. If you don’t already have a solicitor, we can recommend one.Conveyancing
Your solicitors require documentation relating to your property, including a fixtures and fittings list along with a property questionnaire. Below are a sample of questions from the forms that will need answering:
- Fixtures and fittings that are included/excluded in the sale.
- The boundaries of the property and with whom responsibility lies for maintaining fences.
- Whether any alterations or extensions to the property have met local planning and building regulations.
- Details of rights of access that are shared with a neighbour, e.g. driveways.
- Copies of guarantees or insurance policies, e.g. whether the property is covered by the NHBC guarantee or a wood-rot treatment guarantee.
- If the property is a leasehold, your solicitor will ask for a copy of the lease, the name of the managing agent (where appropriate), the freeholder and a statement of account for the ground rent and services charges.
- Services: whether the property's utilities (gas, water, electricity) reach it via a neighbour's property or are shared with a neighbour.
Your buyers, or their mortgage lender, will want to carry out a valuation, survey or home buyer's report. You don’t need to do anything special for this and most surveys don’t involve any disruption. Leasehold properties
If the property is a leasehold, your solicitor will ask for a copy of the lease, the name of the managing agent (where appropriate), the freeholder and a statement of account for the ground rent and services charges. Exchange of contracts
The ‘Exchange of Contracts’ is an exciting moment as this is when the sale becomes legally binding for both buyer and seller and the completion date is inserted into the contract. To exchange contracts both the buyers and the sellers sign the contracts. The contracts are then returned to the respective solicitors. The buyers transfer their deposit to their solicitors. Conventionally the deposit is 10% of the purchase price. This usually happens on the phone when both party’s solicitors agree that they can ‘exchange contracts’ at which time they will then tell you and us that this has happened. Completion
The completion of your property sale is the moment your sale is finalised! Your solicitor will contact you and us when the buyer’s money has cleared into their account. We will then release keys to the buyers.Keeping the sale on course
The conveyancing process is complex and can be frustrating at times. Much of the work goes on behind the scenes but at Douglas Martin we will regularly work with all parties to ensure that things go as smoothly as possibly.