Thinking of selling your property in Brentford, Chiswick, Ealing, Isleworth or Acton?
Arrange your finances
When it comes to selling your home, you should bear in mind there are some costs you will need to consider. Preparing for these outgoings will allow you to manage your expectations and budgets so you can remain in control from start to finish. Additional costs to look out for include:
Estate agent fees:
There will be costs associated to the advertising of the property and for organising viewings, as well as fees for helping to complete the sale, which are managed by your solicitor.
Mortgage redemption fees:
This will depend on whether you incur any fees from your mortgage lender for leaving the agreement early. Be sure to check this at any early stage.
You must provide an EPC energy rating to anyone who purchases your property. This document will state how energy efficient the property is.
When selling a property, you will hire a solicitor to deal with the legal aspects. Their fees will vary depending on the complexity of the sale and value of the property.
The final cost to consider is paying for the removal of your household items to your next home. How much it will cost depends on the amount being moved and where it is being transported to. Always get a few quotes to ensure you get the best price.
Book a property valuation
The first step to take is to seek out a local estate agent with a good reputation who can provide a property valuation. Naturally you want to maximise the sale value and the best way to do that is to rely on professional experts who have experience in selling properties in your area.
You can ask them for three different prices: a ‘best case’ selling price that you’d ideally like to sell for, the agent’s suggested selling price, and the selling price they think it will actually go for (the final price they believe you are most likely to receive).
These three prices will help you decide on the right price level that will enable you to sell the property quickly and without underselling its value. Set the price too high and it’s likely you will struggle to generate serious interest from buyers, which will only lead to you having to lower it eventually.
Of course, allow a little room for negotiation but use the agent’s valuation figures to set a realistic target that will work for you.
It also pays to do some research on similar properties in the local area to see what they are being sold for. You should also visit the Land Registry website which will tell you historical data about properties sold all across the UK, which will also tell you sale prices going back as far as 1995.
At Thorgills, we offer free property valuations for those looking to sell property in Brentford, Chiswick, Ealing, Isleworth and Acton. If you would like to know what your home is worth, book a property valuation with one of our expert estate agents.
Choose an agent
Everyone has the option to sell their property without the help of an estate agent but without any experience it makes the process a lot more complicated and it is likely you will not receive the full value for the property. That’s why it is important to find the right estate agent to work with. Here’s what to look out for:
- If you are happy with the services provided by the estate agent for the valuation of the property it makes sense to use them to sell your property.
- To find out more about how they work, what is their track record of selling properties in the area and how often they have achieved the asking price.
- Ensure they are members of the Property Ombudsman professional body.
- Ask what measures they will take if the property is not selling as anticipated. How will they advertise and network the property to attract serious buyers?
- Find out more about their fees so you know how much you will be expected to pay in the event of successfully selling the property.
Prepare your Home to be viewed
When it comes to letting potential buyers into your home, first impressions go a long way. You need to help them imagine themselves living there which means there are some things to do in order to prepare the property for viewings. Here are some of the basics:
Clear the property:
This means de-cluttering and removing items that do not need to be left lying around. This will make the rooms feel more spacious and help the buyer see how their own life could exist within the four walls.
A fresh coat of paint can go a long way to making a lasting first impression on a buyer. Go for neutral colours that allow buyers to dream a little, rather than loud and bright tones that could put them off. Don’t completely strip out the personality but strike the right balance to encourage their imagination.
Get some kerb appeal:
The entrance to any property sets the tone for what to expect inside. Add kerb appeal by cleaning the windows, tidying up the front garden and driveway. Repaint the door to give it back some life and fix the numbers and letterbox if needed.
Maintenance and repair:
Any cracks or holes should be filled and repaired before buyers start to arrive. Fix any broken door handles and hinges, as well as locks on windows – people want to know that the house they are buying will be secure.
Instruct a solicitor
A solicitor will need to be hired to manage the legal aspect of any proposed sale. It makes sense to find a good one before any sale is agreed and then instruct them when you are ready to go.
Typical agreements made include a ‘no sale, no fee’ which encourages them to complete the sale quickly. Alternatively you can choose a ‘fixed-fee’ service which is a one-off payment and avoids any hidden fees later on.
Once instructed, the solicitor will be able to deal with things such as inspecting contracts sent over by the buyer’s solicitors, arranging searches of the property and surrounding land, dealing with completion of sale, handling deposits and management of the property fees, as well as ensuring title deeds are registered correctly.
Prepare to receive offers
With everything organised you will hopefully start receiving offers which will be passed onto you by the estate agent after they have been made. The agent should perform some due diligence on the bids to see which ones are serious enough to be pursued.
There are some general signs to look out for which will give you a good indication on how safe the buyer will be:
- First-time buyers who are not tied to a property chain, or buy-to-let owners using a mortgage to finance the purchase are generally safe buyers.
- Anyone who has already sold and completed their sale should be taken seriously.
- Buyers not tied into a property chain and without a mortgage, or sellers who have paid off their mortgage and already sold their home are usually serious.
- If the buyer has sold subject to contract (SSTC), meaning they haven’t exchanged but have accepted an offer, and either have a small mortgage or can pay outright in cash.
- Buyers who are still waiting to sell their property will be searching for a home to move to.
- Those with SSTC but require a large mortgage in order to pay for your property.
If you receive an offer you are happy with, you can either choose to accept or negotiate. In many cases a buyer will offer less than the price you have set, and if one is close enough it is worth seeing how far they are willing to raise it in order to secure the property.
With your property under offer it is now safe to start house hunting for your next home. If you find a property you like, having your home SSTC could give you the edge ahead of other buyers as agents will know you are willing and eager to move quickly.
The exchange and completion dates for the sale of your property can now be set with your buyer and remain in touch with them to ensure all is still going to plan. Your solicitor will be handling the legal aspects of the sale at this stage and will prepare for the exchanging of the contracts – which is when the buyer pays the deposit and the sale is made official.
When the completion date is reached you will have to move your belongings and hand over the keys to the buyer’s agent. If you are buying another property it makes sense to complete the sale the same day you purchase your new home so you can move your personal items from one place to the other.
If you would like more information about the selling process or are looking to sell property in Brentford, Chiswick, Ealing, Isleworth or Acton, get in touch with our estate agent team today who will be happy to help.
Get in touch
Call us on 020 8994 9886 or use the contact form below