Need to sell for the First Time? Here's what you need to know.
Selling your property for the first time can feel daunting, but understanding the process can make it much smoother. Here’s what you need to know:
If you're reading this, you might be preparing to sell a property for the very first time.
Selling your home is a significant milestone, whether you're relocating for a new job, accommodating a growing family, or moving closer to loved ones.
We understand it can be both an emotional and complex journey, but with over 30 years of experience in home sales, the Alexanders team has created this free blog to guide you through the process.
1. Prepare Your Property
- Declutter and Clean: Present your home in its best light.
- Repairs and Maintenance: Fix any visible issues to avoid putting off potential buyers.
- Home Staging: Consider staging to highlight the property's strengths.
2. Understand Your Finances
- Mortgage Payoff: Check if there are early repayment charges.
- Costs to Sell: Budget for estate agent fees, conveyancing (legal) fees, Energy Performance Certificate (EPC), and potential removal costs.
- Capital Gains Tax: Assess if you’ll owe tax (only applies to non-primary residences)
3. Obtain an Energy Performance Certificate (EPC)
- Legally required before marketing your property. Valid for 10 years.
4. Choose an Estate Agent
- Types: High street, online, or hybrid agents.
- Fees: Typically 0.75%–3% of the sale price for high street agents or a flat fee for online agents.
- Research: Look for agents with strong local knowledge and good reviews.
5. Set a Realistic Asking Price
- Valuations: Get valuations from at least three agents.
- Market Trends: Check local sales prices on platforms like Zoopla.
6. Market Your Property
- Quality photos and an appealing description are crucial.
- Highlight key selling points (e.g., schools, transport links, or unique features).
7. Accepting an Offer
- Negotiate for the best price, keeping your priorities in mind.
- Remember, offers are not legally binding until contracts are exchanged.
8. Hire a Conveyancer or Solicitor
- They’ll handle the legal aspects, including title deeds, draft contracts, and liaising with the buyer’s solicitor.
9. Survey and Valuation
- The buyer will arrange a survey. Be prepared to negotiate if issues are flagged.
10. Exchange Contracts
- Once signed, the sale is legally binding. You’ll agree on a completion date at this stage.
11. Completion Day
- You hand over the keys, and the buyer transfers the funds.
- Ensure you’ve cleared the property of belongings unless agreed otherwise.
Tips for a Smooth Sale:
- Communication: Stay in regular contact with your agent and solicitor.
- Flexibility: Be prepared to adapt to buyer requests or timelines.
- Patience: The process can take a few months from listing to completion.