How To Sell A House: A 6-Step Guide
If you’re thinking about selling a house, flat or other type of property, of course you want it to be sold as quickly as possible and for the best price going… which, unfortunately, is often easier said than done!
To help facilitate the process, here’s a step by step guide to marketing and selling a house, and moving on to pastures new.
Step 1: Sort out your finances
Before doing anything, you need to know you can afford this house move. Check your current mortgage deal to see if you’ll face any early repayment charges or if you can port it to a new house (fees may also apply here, as well).
Check your credit score so there are no nasty surprises and make sure you factor in stamp duty, solicitors’ fees, moving costs and so on to ensure you know exactly what you’ll be paying out.
Step 2: Improve your home’s kerb appeal
Make sure your house looks its best before you hold any viewings. It should be clean and tidy, with minimal colour. It can also help to decorate in more neutral shades to help potential buyers imagine themselves living there.
Don’t neglect the exterior of the property, either, making sure that the lawn is mowed, the weeding has been done, any broken fence panels are mended and so on.
Step 3: Have a valuation
You need to know what the value of your home is so you can set a realistic asking price. You don’t want to aim too high and deter buyers, but you also don’t want to sell yourself short by aiming too low.
Look at the local property market to see what similar homes in your area have gone for recently to build up a more accurate picture.
Step 4: Hire a solicitor
You will need to hire a solicitor or conveyancer to manage the legalities of property transfer between parties. It is typically advisable to appoint someone before you accept an offer on your home.
Step 5: Accept an offer
Buyers typically offer below the asking price so prepare to negotiate before accepting.
Think about what the buyer’s situation is, whether their offer is a fair one or not, how quickly you need to sell, how long the house has been on the market for, whether you have other prospective buyers and so on.
Step 6: Exchange and complete
Exchanging contracts is when it all becomes real! This is when your buyer will pay their deposit and you enter into a legally binding contract.
If you’re buying a new house, it can be easier to complete the purchase on the same day as your sale completes so you can just move into the new property straightaway.
An alternative here (because buying and selling simultaneously can be stressful) is to consider renting while you house hunt for your next home.
Of course, this is just a very quick rundown of what’s involved in selling a house. If you need any further help or advice, get in touch with the BR Needham team today.