Guide to Selling
Welcome to Ashton Morton Slack's guide to selling, as written by our conveyancing and property experts. In spite of the well known assertion that moving home is one of the most stressful modern day experiences you can go through, it can really be quite straightforward. A good, smooth sale can depend on three key factors: your location, the condition of your home and the price you're asking.Of course, you can't do much about the location, but you can do an awful lot to improve the appearance and condition of your home and make potential buyers feel that the price is right. Think back to what you were looking for when you bought the place and follow our simple common sense rules to make the best of your viewings:
- Everything in it's place. Make sure your home is tidy: wash the pots, put the children's toys away, dust, clean the property and keep it all sweet smelling!
- Cut the grass and tidy the garden.
- Keep the home warm - make sure your viewers feel comfortable, literally make them feel at home.
- Touch up any ‘started but not finished' pieces of decorating. If it looks like you've lost interest in looking after the place, viewers will wonder what else you might have allowed to slip. It won't take long and it will justify the price.
- Know your stuff. Be ready to talk to your viewers about the council tax band, the local school, transport provision, the nearest shops, your average fuel bills and any guarantees you have on recent work to the home.
- If your estate agent is organising the viewing, ensure they know all the benefits too. Viewers may be put off if the agent can't answer their questions.
An important note for viewings
The buyer may ask you about price - if you are working with an estate agent, this is something that they will handle. Don't get caught up in negotiations that your agents are being paid to handle! There's no harm in trying to get an idea of what your buyers think though, and don't be afraid to discuss their situation with them (find out for example if they are in a chain, or first time buyers, if they're offering cash and how quickly can they proceed?) - it will help you make a choice if they submit an offer.
Also remember that you may need to make an effort for the surveyors too - if your buyer is using a mortgage, a surveyor will need to visit and inspect the condition of your property. This will then be used to decide if your price is a fair one.
Dealing with a estate agent
Most vendors work through an agent who can handle the process for them, but some people do manage everything themselves in a private sale - it may take up a lot of time, but does save money on the commission you'd pay. If you'd like to manage your own sale, we can help you make preparations and to get through the legal paperwork involved.
That said, an estate agent can make things very simple. They'll generally handle everything from the surveys to the price negotiation and a good estate agent can make a genuine difference to the timescales involved. The main things you need to know when working with an agent are:
- Ask them what their sales activity covers - how will they try to sell your home? Does the commission or fee you pay them include press advertising, brochures, photography and the managing of the viewings if necessary? In some cases, agents will charge some of these as ‘extras', so know what you're paying for!
- All reputable agents will have a contract setting out their terms and conditions - make sure you ask for it.
- Ensure that your agent, especially if they are going to be conducting viewings, knows about your home and the area - brief them carefully so they can really sell it for you.
- They are earning a commission from the sale of your house, so allow them to earn their money! Keep in touch with them throughout the process, or allow us to do it on your behalf, to make sure they are getting the offers in and negotiating in your best interests.
- If your circumstances change and you need to move quicker and drop the price, tell them. They can re-ignite tired buyer interest with a revised price.
Working with your solicitor
Our conveyancing team are very familiar with the buying and selling process. We can offer proper advice on your sale and oversee the legal stages of the transaction:
- When both you and the buyer are in a position to exchange contracts, we will make sure that you have seen, understood and signed all necessary documents.
- On exchange of contracts, the completion date is agreed between you and your buyer, often via the estate agent.
- On the completion date you must be ready to move out of the property and hand over the keys.
- We will notify you when the money has been transferred so you can safely release the keys to the buyer and move on yourself.
Making the most of your time
If you decide to put your property on the market, let us know immediately. Some people don't inform their solicitors until they've started receiving offers and then the creation of contracts and other documents can add to the timescales. Time is precious in these transactions, so give yourself a good lead!
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