What is involved in selling a property?
Below are the 10 steps involved in selling your property.
Step 1. Accurate valuation
Your aim should be to sell your property at the best possible price in the shortest possible time. With years of experience in the local market we are well placed to advise you on price and marketing tactics.
Step 2. Selecting an estate agent
When choosing an estate agent, consider their opening hours, when they will be available to conduct viewings, their online presence and what kind of marketing your property will receive. These are critical to obtaining the maximum exposure and price for your property.
You should also check if your agent will organise your government-required Energy Performance Certificate on your behalf or if you need to arrange this yourself? Hellier Ridley Ltd can arrange this for you. You must have commissioned an EPC before your property can be marketed.
Step 3. Instructing a solicitor
The successful sale of your property can be reliant on the instruction of an efficient and experienced solicitor. It is a good idea to do some research and make a decision before you put your property on the market as this will help to avoid delays.
We can offer recommendations if required.
Step 4. Presenting your property
First impressions count, making the presentation of your property critical to a successful sale.
Consider addressing any DIY jobs you have been meaning to get done, add a fresh coat of paint where necessary and try to declutter to make rooms appear larger.
We will then arrange for the property to be photographed, produce floorplans and write comprehensive property descriptions, all in just one visit.
Step 5. Marketing your property
To find your perfect buyer you need to give your property maximum exposure across a wide range of media.
When you instruct Hellier Ridley to sell your property you will automatically benefit from our comprehensive marketing package, including: exposure on our website, full colour property details, inclusion in our weekly email newsletter and SMS alerts and PR.
Step 6. Accompanied viewings
Our longer operating hours are essential to maximise viewing opportunities for your property. Accompanied viewings also mean we can use our expertise to help sell your property.
We don’t stick to any set operating hours so if someone wishes to view late in the evening and it’s the only time they can do we are able to accommodate. Our phonelines are operational between 9am – 7pm so we can catch the after work enquiries.
Step 7. Receiving an offer
As soon as an offer is received we will notify you both verbally and in writing.
Any special conditions of the offer will also be stated in writing and we will check the buyer's ability to proceed before you decide whether to accept the offer.
Step 8. Offer agreed
Once you accept an offer we will do the following:
- Prepare a memorandum of sale
- Write to all parties to confirm the agreed price
- Ask you to confirm your solicitor's details
- Your solicitor will send out a draft contract to the buyer's solicitor who will then carry out preliminary enquiries. At this stage you will also be able to agree on dates for the survey on your property, exchange of contracts and proposed date for completion.
We will advise you and negotiate on your behalf throughout this process, keeping you informed every step of the way.
There are no legal obligations until contracts are signed.
Step 9. Exchange of contracts
Exchange of contracts occurs when the following have been confirmed and agreed:
- Preliminary enquiries following receipt of draft contract
- Evidence of a good title
- Specific issues highlighted in the Lease, if applicable
- Local search queries
- Fixtures and fittings to be included in the sale
- The buyer's mortgage offer
Once the contract has been signed by both parties the deposit (usually 10% of the purchase price) will be telegraphically transferred or paid in the form of a banker's draft by the buyer's solicitor to your solicitor. The completion date is then set by mutual agreement.
Step 10. Completion
Completion is when the residual monies (usually 90%) are transferred from the buyer's solicitor to your solicitor's account.
Your solicitor will call you when the money has cleared in your account and will inform us to release the keys.
Congratulations, your property is now sold!