Complete Guide and Checklist to Streamline Your Property Sale
You don’t need to become overwhelmed and get stressed when you decide to sell your property. Selling your home fast, for the right price and to the right buyer is easily achievable when you follow our estate agents’ quick tips for streamlining your property sale.
The most important aspect you will need to consider when you are selling a property is how to market it correctly. Making the property as attractive as possible and helping potential buyers envision themselves living in that space should be your top priority. It’s what will make or break the deal and determine how long your property sits on the market, as well as the price you will receive for it.
Focusing on the right aspects can save you time and money and ensure that the property sale does not unnecessarily turn into a stress factor for you. Simply use this guide and checklist put together by our expert estate agents and you won’t have to worry about a thing. For more information, also check out our video guide to investing in a property here.
1. Plan Your Budget
Selling a property shouldn’t have you thinking only about how much you will receive from the sale. You will also need to consider any costs you will incur for the sale. Make sure you take into account any overdue payments on utilities and property fees. Also properly plan for any renovation or upgrading costs.
To sell fast, the property will require at least a fresh lick of paint and deep cleaning. You may also consider putting some money into upgrading the boiler or re-doing the kitchen and bathroom. Knowing from the start how much these costs can set you back will safeguard you from any unpleasant surprises and allow you to properly plan for everything that goes into the sale.
You will also have to take into account any costs relating to your own move if you live in the property you are about to sell. Any moving and mortgage costs should be accounted for from the get-go
2. Consider the Timing
A property sale usually takes between 6 and 8 weeks to complete. The real estate market’s peaks are usually in spring – between February and April, and in autumn – starting with September and continuing to early November. If you are selling your property outside of these two periods, you can consider one of two options. Either wait with the sale until one of the peak seasons start or mentally prepare yourself for a longer sale process. Choose the option that fits your particular circumstances best.
If you need to go on with the sale quickly, enlist the help of an experienced estate agent that knows the area well to increase your chances of closing a deal sooner.
3. Do Research and Get a Professional Property Valuation
Going into the sale process, you will need to do some research on your own. Use online resources to get an idea of how much similar properties in the area are listed for, as well as the prices recent properties have been sold for. Many times, these numbers will not be the same as they are negotiated down by buyers.
After you have your facts checked, enlist the help of a serious property valuator. A common misconception about property valuations is that you should choose the agent that valuates your property at the highest price. Unfortunately, this is most likely a trick to win the bid for your contract. What you will want to do is choose a local estate agent that will give you the most information about recent sales and how long they took to get off the market. This can give you the confidence they know what they are talking about and they can give you a correct valuation rather than an unrealistic one.
4. Enlist the Help of an Estate Agent and a Solicitor
Don’t settle on the first offer you get from an estate agent for selling your property. Shop around and see which agent seems the most knowledgeable about the area and can give you the most information about selling your property. Also take into account that the duration of the contract you sign with the estate agent you choose can be negotiated. Choose if an exclusive contract works for you or give the property to several estate agencies.
Our best tips for choosing a reliable estate agent are to find someone who is active on the local market and offers you a fair agreement. Many estate agents will try to force extended exclusive contracts on you, so be firm and negotiate a deal that works for you. You should also enlist the help of a solicitor early on. They can prepare all the sale-related documents and, together with your estate agent, they will help you gather all the required certificates and guarantees you will need to provide for the sale (building certificates, work guarantees, energy performance certificates, etc.).
5. Get the Property Ready for Sale
The most efficient way of getting your property ready for sale is to focus on the buyer. Consider what the ideal buyer for the property would be and prepare the space accordingly. If the property is the best for a family with young children, set up the space for them. Of course, this does not mean that you can skip on all the prepping stages like fixing anything that needs fixing, renovating, painting, and deep cleaning the property. It only means that once you go through those steps, you should arrange the house to have plenty of storage and a flow that works for kids and parents as well. This will help them imagine what it would be like to live in your property and encourage them to make an offer.
6. Have the Sale Paperwork Ready
Paperwork is an important part of selling a property. An experienced estate agent will guide you through all the procedures and forms you will need to have to go through and have ready. Here is a shortlist of what you will need:
- A photo ID and a recent utility bill to make proof of your identity
- Property title deeds – a solicitor can obtain them for you in case you don’t have them
- Property valuation
- Shared freehold documentation
- Energy Performance Certificate
- Leasehold Information Pack
- Fittings and contents form (TA10)
- Property information form (TA6)
- Mortgage details
- Acceptance of offer
- Transfer of Deeds
- Confirmation of stamp duty