Sellers Information

A Step By Step Guide To Selling Property
Selling property can be far less stressful when you understand the process.

Step 1: Accurate valuation


 

Your aim should be to sell your property at the best possible price in the shortest possible time. We will carry out a completely free and realistic market valuation – after all, we want to sell your home!

Note: there is nothing more frustrating for a buyer than setting his heart on a house, instructing a solicitor and paying survey fees only for the owner to say he is not serious about moving yet. Be sure you want to sell before putting your house on the market.

Step 2: Selecting an estate agent to market your home


When choosing an estate agent, consider the following; their opening hours, high street presence, and their marketing strategies. These are critical for obtaining maximum exposure and price for your property. Also check if the agent will organise your Energy Performance Certificate (EPC) on your behalf.

Rowan Properties have a city centre location, open 6 days a week, have the latest technology and an easy to use website as well as local advertising, and will organise your EPC for you.

Note: Although HIP’s have had an immediate suspension by the new government, EPC’s (Energy Performance Certificate) remain compulsory due to EU legislation.

Step 3: Instructing a solicitor


 

The successful sale of your property can be reliant on the instruction of an efficient and experienced solicitor. We can offer a recommended solicitor.

Note: if you are going to need a mortgage or need financial advice it is best to get this organised at an early stage. It shows potential buyers that you are serious about selling, and we, as your agent, can pass this on. If you need advice, we can also recommend an independent financial advisor to give you impartial sound advice.

Step 4: Presenting your property


 

First impressions count, making the presentation of your home critical to a successful sale. Consider addressing any DIY jobs you have been meaning to get done, add a fresh coat of paint where necessary and try to de-clutter to make rooms appear larger. Rowan Properties will then take the photographs and write comprehensive property descriptions, making the most of all your efforts!

Step 5: Receiving an offer


 

As soon as an offer is received we will notify you both verbally and in writing. Any special conditions of the offer will also be stated in writing and we will check the buyer’s ability to proceed before you decide whether to accept the offer.

It is our job to find out if the buyers are genuine; can they afford it? Are they cash buyers or do they need a mortgage? Have they a property to sell and if so, at what stage is their selling process at? You will be informed as soon as we obtain all relevant information.

Step 6: Offer agreed


Once you accept an offer we will do the following:

1. Prepare a memorandum of sale.
2. Write to all parties to confirm the agreed price.
3. Ask you to confirm your solicitor’s details. Your solicitor will send out a draft contact and your property’s EPC to the buyer’s solicitor who will then carry out preliminary enquiries. At this stage you will also be able to agree on dates for the survey on your property, exchange of contracts, and a proposed date for completion. We will advise you and negotiate on your behalf throughout this whole process, keeping you informed every step of the way. There are no legal obligations until contracts are signed.

Step 7: Exchange of contracts


 

Exchange of contracts occurs when the following have been confirmed and agreed:

1. Preliminary enquiries following receipt of draft contract.
2. Evidence of a good title.
3. Specific issues hi-lighted in the lease, if applicable.
4. Local search queries.
5. Fixtures & fittings to be included in the sale.
6. The buyer’s mortgage offer. Once the contract has been signed by both parties, the deposit (usually 10% of the purchase price) will be telegraphically transferred or paid in the form of a banker’s draft by the buyer’s solicitor to your solicitor. The completion date is then set by mutual agreement.

Step 8: Completion


 

Completion is when the residual monies (usually 90%) are transferred from the buyer’s solicitor to your solicitor’s account.

Your solicitor will call you when the money has been cleared in your account and will inform us to release the keys. You can now breathe a sigh of relief and pick up the keys to your new property; the usual procedure is to pick the keys up on completion day and move, so let’s hope you are all packed and ready!