Stages of selling your home
What do I need to do in order to sell my home?
When it comes to your most valuable asset, you want to make sure the process is quick, efficient and stress-free, at James Douglas we understand the local market trends in Cardiff and have been selling properties in the area for many years. That is why we have provided you with a step by step process of selling your home. If you are looking at selling your home please contact James Douglas on 02920 456444 for your free valuation.
- Set your price
It is worth looking at obtaining a valuation from your local estate agent, who know the market in Cardiff and the surrounding area to help you set a price for your house. Ultimately, you set the price of your house, however it is worth taking into consideration the valuation as they will have mostly likely sold similar properties in your area so will know the local area well. It’s also a good idea to be aware of the stamp duty land tax brackets and that buyers will often negotiate.
- Instruct an agent
Once you have instructed estate agents to value you your house, you now have to pick one! Make sure the agent you choose advertises on the well known portals such as Rightmove to get the best advertising for your house.
- Homestaging
Make sure your property looks the best it can, as this goes a long way in photographs and when potential buyers view the property. De-clutter and some modernisation can make all the difference when it comes to selling your home. You will be maximising interest from buyers, your Estate Agent can usually advise on this.
- Solicitor
Legally transferring the ownership of the property is called conveyancing, and this must be done by a solicitor. It is worth getting ahead of the game and choosing a solicitor before someone makes an offer. If you are also buying a property it often works cheaper to use the same solicitor for both buying and selling.
- Accepting an offer
After viewings on your property, you will find that your estate agent will contact you with any offers. Once you have negotiated and agreed an offer, you will move into the sales progression part of the process.
- Negotiate the draft contract
Once the price has been agreed, you will be able to negotiate other areas of the contract, such as how long will be allowed between exchange and completion? What fixtures and fitting will be included in the sale? etc. Remember, neither party are legally committed until exchange, so they could still walk away.
- Fill out the relevant questionnaires
There will be a questionnaire which will clarify to the buyer queries such as, the boundaries of the property, the fixtures and fittings included as well as local searches sent to the local council regarding any proposed developments, building works, sewerage, utilities etc.
- Exchange Contracts
Once all the terms have been agreed, final contracts will be written up and exchanged. You and the buyer are then legally committed to the sale. If you decide to withdraw from the contract you can be sued, if the buyer pulls out at this stage they will lose their deposit.
- Move Out
Once contracts have been exchanged you only have as long as was agreed before you must vacate the property.
- Completion
This is when the property officially changes ownership. Payment will be made and consequently you hand over the keys. The money and the deed will be transferred by each party’s respective solicitors will register the transfer of ownership.
- Pay off the mortgage
Now the buyer has transferred the money to your solicitor, your solicitor will pay off the mortgage on your behalf.
- Pay your solicitor
Now that everything has been completed, your solicitor will send you an account of all their costs, the sale price and redemption of the mortgage.
