Thursday, 30 October 2014

A Quick Guide To Selling Your Home

Many people have questions about the processes involved in selling their home or the jargon that is used. As independent property experts in Huddersfield we have created a quick guide to answer some of the most common questions.

The first steps:

It goes without saying that the first thing you need to do, in order for you to sell your house is put the property on the 'open market' for people to view. To do this  you need to have it valued. Getting an accurate valuation is key to a sale at the best price in the shortest time; over-egg it and you won't get any viewings and may have to reduce your price, under value it and you lose money - either way you can be left disappointed having wasted time and money. Using a RICS surveyor like Chris Jowett to value your home will help you correctly position your home to the market and maximise your chances of a successful sale.

With your valuation done, and if you are happy with everything, you will be asked to sign a service agreement which instructs the agent to act on your behalf in selling your property. Once signed your property will be put on the open market.

All viewings will be coordinated with you; you have the option of having an accompanied viewing where we attend with the prospective buyer or if you prefer you can show the potential purchaser around the property yourself. Having us at your viewing means we can help listen for buying signals and objections, develop a relationship with the buyer and talk objectively about their plans for a property without being emotionally attached to it.

When you receive an offer for your home:

We will aim to get the best possible price for your property at all times. If there are multiple offers then we will give you the best advice based on our assessment of each individual buyers’ circumstances and how quickly you will need to move.

We will establish whether the proposed purchaser has enough money available to buy your home. If necessary we will introduce the buyer to an independent Mortgage Advisor who will be able to help them arrange a mortgage. 

If you decide to accept an offer we will pass on your decision to the person who made the offer, alternatively we will act as negotiator on your behalf. We have over 35 years' experience of such dealings that can't be learnt on a two day estate agency course!

When you accept an offer:

If at this point you have not appointed a solicitor/conveyancer now is the time to do so. If you require help we are always happy to recommend one whom we trust.

At this point you must decide whether or not you wish us to continue marketing your property - we will advise you on any issues that may affect your decision. 

Once the buyer is clear to proceed, we will advise all parties concerned by sending them a 'memorandum of sale'. Your property will now be treated as Sold Subject To Contract.

If your buyer requires a mortgage (which is so often the case), we will advise you if their surveyor needs to carry out a survey on your home. The application process generally takes 14 days so it will be at least this length of time before a survey is carried out. In the meantime if we are continuing to market your property we will let you know if there are any new or revised offers.

Your solicitor/conveyancer will talk to you about the legal process. We will chase legal teams for you as and when necessary and we will keep you regularly updated with the progress of your sale, liaising with all parties to make sure the sale proceeds smoothly.

Please remember that an agreement to purchase does not constitute a contract and at this stage; either you or the buyer can still withdraw from the sale.

When the sale becomes binding:

When the solicitor/conveyancers have carried out all the necessary checks and documentation, they will agree to 'exchange contracts'.

Your sale is now legally binding and a mutual date will be set for 'completion', this is the date by which you must have vacated your property.
During this period Jowett will:

  • Liaise with all parties to finalise the completion date
  • Organise the handover of keys
  • Arrange to remove all marketing material, including our For Sale board, and inform other interested parties that your property has been sold
We hope that our guide has been helpful for you! 

For more expert advise call Jowett Chartered Surveyors & Estate Agents on 01484 536799. Or arrange for a free valuation to find out how much your Huddersfield home is worth.

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