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Below are a number of seller frequently asked questions to help you with selling your property.
First of all you need to receive a valuation to find out how much your home is worth. We recommend asking at least three different estate agents to value your home. Ask them about the services they offer, the current state of the local market, and the price you can hope you achieve. Make a plan and consider what your priorities and timescales are.
There are three main costs involved in selling a property:
Estate Agent Fees
Estate Agent Fees will either be a percentage of the purchase price, or a fixed fee. When you ask the estate agents to value your home, make sure they outline their fees during their visit so you can take these into account.
EPC
You are legally required to provide an EPC when you market your property for sale. This outlines the energy efficiency rating of your property. We can organise this for you if you do not already have one. Contact your local branch for a quote for how much this will cost.
Conveyancing
Conveyancing is the legal transfer of property from one owner to another. There is a lot of legal and administrative work to do before contracts can be exchanged and completed.
There is a lot to organise and co-ordinate, including legal matters, financial arrangements and regulations to comply with, so you need to use a solicitor. We can introduce you to a solicitor and offer a no sale no fee conveyancing service with a guaranteed fixed price to keep everything simple.
You may also decide to pay for extras such as professional photography or advanced web positioning. And don't forget about removals!
Ask your agent to outline all these costs at the start of your sale so that you can budget your move.
Your estate agent should accompany all viewings, but you may decide that you'd like to be present. It's entirely up to you.
This depends on the conditions of the offer that you accept. Neither the buyer or the seller is bound to the purchase or sale until the contracts are signed, so it's worth keeping your options open.
Every sale is different. Your position, the buyer's position and how many other people are in the chain will affect how long the process takes. If your home has been realistically valued, you could expect to receive offers within the first four weeks.
Then, assuming your buyer has to apply for their mortgage the exchange of contracts normally takes between 4 and 8 weeks and completion takes between 2 and 4 weeks.
So in total you should expect anywhere from 6 to 12 weeks to complete the sale.
In England, all sellers are required to purchase an EPC (Energy Performance Certificate) for a property before they sell it. Estate agents must display the EPC rating whenever they market the property. If a property does not have an EPC when marketed the buyer and the agent risk a fine. This does not apply to Grade II Listed properties.
Conveyancing is the legal transfer of property from one owner to another. There is a lot of legal and administrative work to do before contracts can be exchanged and completed.
There is a lot to organise and co-ordinate, including legal matters, financial arrangements and regulations to comply with, so you need to use a solicitor. We can introduce you to a solicitor and offer a no sale no fee conveyancing service with a guaranteed fixed price to keep everything simple.
In England you do not need to arrange a property survey, but it is likely that the buyer will, and so a surveyor will arrange an appointment to visit you home.
The five key things a surveyor will be looking for are problems with utilities, damp, cracking, problems with roofs, and timber defects.
In addition, your buyer's mortgage lender will organise a mortgage valuation to confirm that the property is worth the money being borrowed.
Until both solicitors receive signed contracts from the seller and the buyer (known as exchange of contracts), either party can pull out at any time and for any reason.
You may have to pay Capital Gains Tax if you make a profit (‘gain’) when you sell a property. In most cases your are only required to pay Capital Gains Tax if the property is not your main home.