Is Your House Ready To Market
In preparation for marketing you need make sure your property has 'kerb appeal'. Stand outside and imagine yourself as the purchaser, what sort of first impression do you think the house may give. Does the front door need a fresh coat of paint? Does the front garden need trimming back? Are the windows clean? We know it's a clichÃ©, but first impressions really do count. You must also think about the inside and how well that presents. Can you add value by making certain changes? This brings us on to the next step.
The first step when thinking of selling is to organise a valuation through a local estate agent. A good valuation isn't necessarily the highest. Any valuation should be supported by good comparable evidence and an understanding of the target audience, given the trends of the market at any given time. A good estate agent should also be looking at the bigger picture and not just the immediate sale. If we think you can increase the value or saleability by making certain changes, we'll tell you. Whether that's a complete refurbishment (subject to affordability) or a lick of paint, subject to what the market is doing you need to ensure that your property presents well in comparison to what else is available.
Selling Through An Estate Agent
Whilst there is the option to sell privately, it comes attached with huge risks. You choose an estate agent not just for our expertise in valuing your home, but for the added value we provide in the process of selling it. Once the sale is agreed that's when the hard work really begins. For the majority of us, selling our home is the biggest transaction we will ever deal with in life, so picking the correct agent is vital to ensuring you achieve the desired results.
Once you've chosen your estate agent, the marketing process begins. We always make sure the sales team preview the property prior to viewings, so everyone involved knows exactly what's on offer and can speak to potential buyers with confidence and knowledge. Below is a list of some of the marketing we offer:
- Digital photographs taken by one of our professional photographers.
- Colour Floor Plan professionally drawn up.
- Distinctive Butler & Stag board erected outside your property.
- Internet marketing through portals such as Rightmove, On the Market and our own bespoke website.
- Shop window through our window cards and rotating property LCD screens.
- Local and national advertising through media outlets.
- Social Media such as Twitter, Facebook and Linkedin.
Once you are happy with the marketing material and we've gone live with your property the viewing process can begin. We promise at Butler & Stag to accompany every viewing, unless you prefer to be present yourself of course.
Inside the property ensure you tidy up and de-clutter before viewings. If you're in leave the buyer to wander freely with us and simply make them aware you're available to answer questions if necessary. There is nothing worse than an anxious owner following a potential buyer around the house, it makes buyers feel nervous and rushed. Make sure you also listen to feedback, we will be honest so don't take it personally, try to use it as a positive and make changes/adjustments if the same negative feedback continually arises.
Useful Tip; We provide a sellers questionnaire form which asks you questions buyers may raise before, during or after viewings.
Your estate agent will deal with the negotiation of an offer between the buyer and you 'the seller'. Whilst everyone assumes you will take the highest offer there are several factors to consider, particularly if you have more than one offer. Is the buyer chain free or in a short complete chain (under offer themselves to a first time buyer for example) are they cash or do they have an 'agreement in principle' and can they work to your preferred timescales.
Whatever the circumstances you should never feel pressured or forced into accepting an offer. Remember we are acting on your behalf, not the buyers, we will work with you to get the best possible price from someone in the best possible position for you. When considering an offer we will advise on other interest, viewings, feedback, general market conditions and comparable properties that have sold, so that you can make your decision on an informed and well educated basis.
Once the sale has been agreed both parties need to instruct a solicitor, preferably a specialist conveyancer (someone that specialises in residential property transactions) We have a list of preferred conveyancers so please just ask if you require a recommendation. Once we have both sets of solicitors we send out a memorandum of sale to all parties involved detailing the agreement and allowing the solicitors to make contact.
Survey And Conveyancing
Once the sale has been agreed and conveyancing is underway the buyers will get their survey on behalf of their mortgage lender, unless they are cash buyers. This will be just a mortgage valuation, or a mortgage valuation and homebuyers report or building survey. Assuming the surveyor thinks the property is worth what you're buyer is paying the bank will agree to lend the requested amount (mortgage offer). Buyers may also choose to get their own independent surveys if the initial report flags up possible issues, such as, gas safety inspection, electrical inspection, timber and damp or roof survey. Useful tip, if you think there is a potential issue with your property it can make sense to get it surveyed prior to marketing. That information can then be provided to your purchaser, potentially saving time and re-negotiations down the line.
Useful Tip; We have relationships with our recommended conveyancers meaning we can make direct contact if anything needs an immediate response. If you don't have a solicitor/conveyancer that comes highly recommended, let us recommend one for you.
Once the conveyancing has reached it's conclusion and the buyer has their mortgage offer we are ready to exchange. That is when the purchaser lodges their deposit (normally 10% of the purchase price) and contracts are exchanged, making everything legal and binding for both parties. On exchange you must agree a completion date by which you will move out of the property.
Completion day has finally arrived and you're ready to move out if you haven't already done so. On the day of completion the buyers solicitor will transfer the remaining amount due on the purchase price. Once the money has been received by your solicitor, that's it, completion has taken place. You and ourselves will be called to confirm this and we will be allowed to release keys, which buyers will normally collect from our office. The solicitor will generally pay the estate agent and take their own fees from the completion monies before transferring the remaining amount to you.