1. How much is your property worth?
The first step in selling your home is getting a property valuation. Ideally you would invite more than one estate agent to view the property to give you a good idea of the current achievable value. As an independent estate agent, Parkes can offer you a personalised service and the opportunity to reach out to a portfolio of interested investors. This means you stand a very good chance of achieving the best possible price for your property.
2. Get your property ready for the market
When preparing your property for market, try to ensure it is presented in the best possible light. Fix anything that could impact on the final price, give the property a new lick of paint and tidy up the interior as much as possible. All of these things can make a huge difference to the final value of your property.
3. Choose your estate agent and your solicitor
Of course your choice of estate agent is important, and the factors to consider include their experience, their local insight, professional affiliations and their reputation. Here at Parkes, our team have been selling property in West London for many years and know the market inside out. Most estate agents, including Parkes, can make recommendations about solicitors, but you can also ask friends or family for their recommendations.
4. Prepare for viewings
With regular viewings it will be important to ensure your property remains as presentable as possible. Avoid clutter, clean regularly and try to avoid unpleasant smells. Open windows, scented candles, fresh coffee and flowers can all make a huge difference to the ambiance. If you’re present during the viewings then try to offer an insight into the benefits of the property. Is it well located? Is the local community great? Is it warm in the winter? If there are negative aspects, try and put a positive but honest spin on them.
5. Receiving offers
Your estate agent will keep you updated on the offers received from interested parties. If you receive competing offers, you can choose whichever one you prefer, you don’t have to go for the highest bidder. For example, you might find a family that you particularly liked make an offer instead of choosing a property developer. If you want to make a quick sale then first time buyers will have no chain, meaning you can usually complete the sale without waiting for anyone else.
6. Accepting an offer
Once you have accepted an offer, your estate agent will set the wheels in motion by contacting your solicitor. The buyer will also instruct their lender to value the property to finalise their mortgage offer, and they may also commission a survey at this point.
7. Exchanging contracts and completion
Once everything is agreed the contracts are exchanged on your behalf by a solicitor or conveyancer. This is when the sale of your home becomes legally binding and when it you can be most certain that the sale will go through. At this point you’ll also receive the preliminary deposit from the buyer which you would keep if they decided to pull out of the sale.
The completion date will be stated in the contracts and it will be your responsibility to ensure you have vacated the property by this date, including all of your belongings. Once the final monies have been received the new owners will be ready to move in.
Completion dates are normally on weekdays to allows banks and solicitors to be able to complete financial and legal transactions without hindrance.