Selling a house or any of your property is a very complicated process even if the real estate market is good. You will have to ask yourself a lot of questions even if you are not a first time home seller. Some of these questions may include how I can get a real estate agent? Do I sell my house and buy a new one? What is the best market price for my house? How do I prepare the paperwork? Therefore, this article will help you get the answers for these questions.
There are two major options for selling your house namely, selling with an agent and selling without an agent but the most important thing is to understand the process of selling a house. Therefore the following are steps for selling a house.
Set the selling price
Normally most sellers will obtain different price estimates from various agents before deciding their sale price. So it is important to settle on your sale price after analyzing the estimates from different agents because you are the boss of the house. However, remember the stamp duty brackets and a discount for the buyers.
Find an agent or utilise a property buyer
You have to look for an agent because it is time consuming to sell yourself. The agent will enable you advertise your house on Zoopla and Rightmove and reach the biggest market to increase chances of selling at your asking price. There is an alternative option where you can sell your property fast to the likes of National Property Trade, who we understand offer the best prices and have a great reputation.
Stage your home
Make your property look best before the agent takes pictures to maximize interest from online buyers and also to get a quick sale at the best price.
Choose a solicitor
The ownership of your property must be legally transferred through a process called Conveyancing which is only done by solicitor. You can only instruct them after accepting an offer on the property.
Accepting an offer
By now customers have come to view your house and make offers or they have made a lot of enquiries on Zoopla and Rightmove and you have must have accepted any of the offers.
Negotiating the draft contract
The seller and buyer will decide on the time line between the exchange and the completion. Also they have to decide on the fittings and fixtures in the sale and whether a discount is included. The relevant questionnaires is then filled.
Exchange contracts and move out
The final contract is written and exchanged once the parties have agreed on all the terms. At this stage the buyerand seller are legally committed to the property sold the seller vacates the house .
At this stage the ownership of the house officially changes. The seller takes the payment and gives out the keys. The solicitor will later register in the lands registry the change of ownership.
Pay the mortgage and your solicitor
At this stage, your solicitor pays your mortgage on your behalf because the buyer has given him the money. Finally, your solicitor will furnish you with an account of all costs incurred; the selling price and mortgage redemption for you pay him. Everything is dusted and the parties have a duty to observe the terms and conditions of the sale otherwise any party can sue another for breach of the contract.