When it comes to selling your house, the process can be daunting and lengthy, particularly if you are also looking at buying a new property at the same time. There are many things you need to do and consider before and during the sale of your property. At Hill and Company Solicitors we have aided many house sales, our experts have been able to ensure that our client’s property sales have gone smoothly.
If you are considering selling your property soon, here is a list of things that you need to consider and do in order to have a successful sale.
What to consider when buying a house
Plan Your Finances
Getting on top of your finances is key before selling your property. You will need to carefully check through your mortgage paperwork. If you are still paying off the mortgage for your current home, you will need to find out if there are any fees for selling your property before you have finished mortgage repayments. If you are looking to move to a more expensive property or your current mortgage deal is coming to an end you might be able to take the opportunity to re-mortgage and get a better deal. If you are looking to move to a more expensive property you will need to create a financial plan to see what you can realistically afford.
Breaking Out of the Housing Chain
If you are looking to buy a new property, you may fall into the risk of getting stuck in the housing chain. This is where you have purchased a new property, however, you have not yet been able to sell yours, or, you have sold your property but have either not found a new property or the owners of the property are not able to move into their new home. One thing to consider is temporarily renting a property while selling your home, whilst it may add to the overall expense, it will reduce the critical time pressures in buying a new home. It will also mean that you won’t have to compromise on your sale price in order to get a quick sale and you also won’t have to rush into choosing your new home. Overall, this will make you a more attractive buyer to sellers as you won’t be stuck in a housing chain.
When deciding on an initial sale price for your property, make sure you get at least three valuations from different estate agents. Make sure you research the market extensively before getting the valuations. This will help you discover what similar properties are being sold for. Don’t necessarily go for the highest valuation, often this can slow up the sale and you may end up reducing the price in order to get interest. One thing to be aware of when choosing a sale price is, many buyers will often try to negotiate a discount of between 5% – 10%. It is important to work out what the lowest price you’d be happy to accept is and then add 10% to it.
Choose Your Estate Agents
Choosing an estate agent to sell your home is a very important decision. There are different options such as, online estate agents, local estate agents and selling the property yourself. Each option comes with pros and cons, you will need to look up the benefits and setbacks with each one and choose which one will be most beneficial to you.
Instruct a Conveyancing Solicitor
You will need to instruct a conveyancing solicitor to take care of all the legal paperwork and implications that come with selling a property. When choosing a solicitor make sure you get a series of quotes and look at reviews from previous clients. Your estate agents may recommend a conveyancing solicitor to you, however, if you choose this solicitor you may receive an expensive referral bill.
At Hill and Company, we have years of experience in buying and selling houses and our legal team are friendly and ready to assist you through the legal complexities of the transaction.
Our team of experienced property solicitors and conveyancers are all trained to provide a proactive service. This helps to ensure that everything goes smoothly and makes it cost-effective for you. They will also keep you informed at all key stages of the conveyancing service with a personal one-to-one service.
If you would like to book a consultation with one of our conveyancing experts, get in touch today.