Selling a property right now is quiet difficult and carries long procedure. It is very important to keep things simpler for yourself. You can prepare yourself for this lengthy process by preparing the property or home before exposing it to the market world. With this idea, you can sell the home faster and without worries. Isn’t it great?
To be sure that the home is saleable, check out several easy procedures on how to put houses on the market that could attract buyers. By doing this, you can prevent unnecessary stress by understanding the phases of selling procedures and following the quick steps below.
Appraise the property to determine its value
• Perform some research for the same properties situated in your locality. This can be done through advertisements, agent windows, and property websites.
• If you want to check what properties sold in your area, feel free to visit some other websites that use Land Registry data.
• Find at least 3 real estate agents to perform valuations without any obligations to provide you a balanced view.
• Before choosing the real estate agent that could handle the selling process of the property, know first the local property market and the current prices before stepping into the process.
• Take note not to choose the one who gave highest valuation. In reality, this might not help you sell the property for that specific price.
• Remember, the closing cost is not exactly the same with your asking price.
Find a reliable estate agent
• If you want to hire an agent when selling the property, you need to pay the fee and sign a contract.
• Before signing the contract, check carefully the unfamiliar terms and find its meaning. Make sure you fully understand how much needed to pay and after you have signed in, and follow the terms and conditions.
• Check the longevity of the contract and if you have the right to cancel. Your property needs a proper length of time to sell it and find prospect buyers.
• Have a regular contact with the estate agent in order to get latest feedback. Be sure the agent is selling the property and targeting prospect buyers.
Acquire an Energy Performance Certificate
• If you’re selling a property, you need to acquire an Energy Performance Certificate to prospect buyers and this is for free. This is obliged by the law when the building is sold, built, or rent.
• EPC has information regarding energy use of the property like carbon dioxide emissions. It also provides an energy efficient rating. The ratings vary from the most efficient to the least.
• This is carried out by the authorized local energy assessor that performs the assessment and produces the certificate. An EPC has a validity of 10 years and the market set the price. However, this depends on the property location.
• The estate agent will contact you when the offer is made on the property. Then the agent will advise whether the offer is good. However, the final decision is still yours.
• When you’re contented about the offer, accept it according to contract and survey. Meaning, the deal does not bind until the contract is exchanged. The agent will write the buyer, solicitors and you to confirm the sale of the property and ask the solicitors to draw a contract.
• The buyer will also ask to bring the property to the market. However, allow this only if you think they are in proper position to go on with the sale. Or else, keep getting prospect buyers around.
• Remember, when the offer is being accepted and made, the potential buyers can withdraw. For instance, if they cannot get a mortgage or perhaps the survey reveals structural issues.
• This is the procedure that transfers ownership of the property and there are 3 major stages such as exchange of contracts, pre-contractual stage, and completion.
Exchange of contracts
• When both are happy and contented with the contract, sign the contract and mail. This is now called the process of exchange of contracts.
• Once the contracts are exchanged, the buy and sell agreement is lawfully bound and both parties can take off without the cost.
• The conveyance or the solicitor will answer questions from the solicitor of the buyer or perhaps licensed conveyance that prepares the documents for ownership transfers.
• This time, the buyer must pay a down payment of 5% of the priced sale to the solicitor.
• Once the negotiation and acceptance are made for the property, the process begins. The important documents are to be prepared for ownership transfer from you to the home buyer.
• You need to choose a conveyance or solicitor to perform the legal work during the sale like details of deeds to the buyer’s solicitors and make a contract of sale.
• Before exchanging contracts, the solicitors will perform final checking including fittings and fixtures in the sale.
• The buyer will arrange a survey to be implemented to determine no primary issues regarding the property. If it shows that a lot of renovations are needed, then a renegotiation is offered.
After the contracts are exchanged, and the examination has been made, you are now ready to complete the process and entrust the keys. Once the confirmation is received, prepare yourself to move out. Leave the property as agreed in the contract.
All the documents needed in the transfer of ownership are turned over to the buyer through his solicitor and the buyer owns the property.
Putting houses on the market is not a fun idea. You need to review all the information to be familiar of to avoid stress.