Dreaming of a move, perhaps you’re looking for a larger family home, downsizing or perhaps looking for something a little different ?
Selling your home is a huge and emotional decision, it can be daunting. Understanding the process of selling will really help ease any stress. In this guide, we outline the steps you’ll need to go through, helping you to prepare for each stage, and potentailly speeding up the process.
Find out the estimated value of your home
One of the first things you can do is get an online estimated value of your property. Enter your postcode into our Instant Valuation here. to gain an approximation. Our online valuation tool is based on powerful market data, although values do vary depending on the style of house, and variety of properties in your road.
Much better - Arrange a physical property valuation
An in-person valuation allows Acres to see your property and to get a feel for the space, presentation, improvements made helping us to understand its features so as to highlight them to potential buyers, when ready. Nothing beats having Acres come to your home to have a comprehensive look around thus giving an accurate property valuation.
Check your mortgage documents
You’ll also want to know how much you can borrow with a mortgage. Contact your current lender, if needed, to check your options with your current mortgage, as well as any potential redemption fees. You may be charged a fee if you’re ending your current mortgage early, so need to factor that into your budget. If you have a ‘portable’ mortgage product, you may be able to transfer your current mortgage to a new property, and top it up. It is always worth taking independent whole of market advice, here at Acres we are delighted to be able this service for you, please ask for details or click here to use our extensive mortgage, fees, stamp duty and other calculators
Choose the right estate agent
Choose an agent you feel you can trust to guide you through this process. Hopefully this will be Acres, we would be thrilled act for you.
Don’t choose an agent on fees alone. This is the sale of your biggest asset and you need to have an agent you feel confident in, has a proven sales record in your road / area and have you a rapport with. Their approach, market strength, depth of knowledge market exposure and methods should be just as important. Acres will of course provide a proactive sales strategy, realistic asking price, and extensive, high calibre marketing. Please contact your local office to arrange a No obligation, Free Valuation
Prepare your home
Getting your home ready for viewings is one of the most important things you can do, helping to create a sense of space and a blank canvas to help your buyer imagine themselves living there. The better your home looks, the more appealing it will be. First impressions count, it is amazing how many purchasing decisions are made within the first minute or two of a viewing commencing. Location is key, schooling, transport, and the general feel of the area.
Decluttering inside is hugely effective, so make sure it’s looking great for both the photos, and if possible viewings. Many buyers work from home, so it could be worth setting up an office or children’s play room, if space allows. Light, airy and spacious is the look buyers are after, And gardens are a big draw so a good tidy up and you’ll be onto a winner.
Decide when to put your home on the market
Springtime is the best time for marketing your home. Between late January and June, the housing market bursts into action as buyers start looking for somewhere new.
The next best time is autumn, between September and October, as people hope to get settled into a new place in time before Christmas, and ready for the ever important school pacemnet offers in the new year.
The quietest times of the year for the housing market are in the summer, from July to August, when people are on holiday, or before Christmas, from November to December.
Set the right asking price
Once you’ve ready to market you need to decide the asking price. We will of course advise, and guide however if you feel it right to perhaps try a little higher to give some “ wiggle “ room, we will happy to try this for you perhaps for the first few weeks to test the market.
Nigel Deekes partner of Acres comments “ there is a fine line between a price that will generate interest, and one that won’t. “It’s all about footfall. Price your property too high and you won’t generate the necessary viewings. Reducing later on may send the wrong message to buyers “
Energy Performance Certificate (EPC)
You legally need an Energy Performance Certificate (EPC). Your EPC provides information about your property’s energy use. If you don’t have a current certificate, for a small charge we can provide this for you.
How long will it take to sell my property and move ?
Once you’re on the market, the first few weeks are the most crucial time for your home to go under offer.
‘That first four to six weeks of marketing a property is so important, says Chris Harvey manager of Acres Four Oaks ‘Your property is fresh on the market and it’s the best time to capture the maximum interest.’ Featured property listing on Rightmove, provided by Acres for all New Instruction means your property will top of the listing page for the first 7 day, BOOM ! Statistics show this can treble response compared to a “ normal “ listing.
The whole process of selling a home, from the moment it’s first listed to the moment you hand over the keys to your buyer takes around 26 weeks on average.
However, selling a home is dependent on many factors and the process can be quicker, or of course take longer.
Find a solicitor
Getting a solicitor to act for you is as important as picking your agent. Once you have accepted an offer, they will administer the sale, and onwards purchase. Acres are able to offer referrals to excellent local solicitors at competitive fees, on a No Sale No Fee basis.
It’s never too early in the process to instruct your solicitor. You can ask them to prepare the contract, and if there is a managing agent, make sure they have the Seller’s Leasehold Information Pack ready, so everything is in place when you find a buyer. Your solicitor is going to need some information from you – everything from title deeds and building control certificates for any work you’ve had done, to leasehold documents and boiler service history, so it’s a good idea to start digging them out. You will also be asked fill out forms about the property and what you're planning to include from it in the sale.
Offers received
It's an amazing feeling when the offers start coming in. So how do you know which one to accept ? We will advise if the offer is good, and take your instruction on and negotiate as needed with your buyers. We will check the chain, finance of the buyers, and seek to find how quickly the buyer is likely to be able to complete the purchase, particularly if you're in a hurry to sell.
Remember, you don’t have to accept the first offer you receive. If you receive more than one offer, we will seek the best buyer, at the best price and in the best position for you to help you make an informed decision.
Accepting an offer
When you get an offer, it doesn’t mean that the sale is finalised. Acres expert contract “ chasers “ will liase with you, both yours, and your buyers solicitors, surveyors and other parties to keep your sale on track. Be as flexible as you can about timings, and as efficient as you can about producing any requested paperwork. If needed we will arrange further reports and advice on the contacts of any of these. Once the joy of going under offer subsides, you may find yourself in the dreaded property chain.
This is the part when the surveys start happening and the solicitors get busy with all of the relevant searches they need to conduct on your property.
This phase can take anything between 8 to 18 weeks, depending on the complexity of the chain and the properties involved.
Delays in the conveyancing process are one of the biggest hold-ups in the buying-and-selling-a-home experience.
Exchanging contracts
Once all parties are agreed there will be ‘Exchange of Contracts’, meaning that both parties are legally bound to the sale. Exchange of Contracts is the last stage of the legal process after which you cannot pull out (without losing your deposit and any legal costs you may have incurred).
At the point of contracts being exchanged, usually a 10% deposit from your buyer will be paid into your solicitor's account. The date agreed for completion is then fixed in the contract.
Between exchange and completion, you’ll be sent a statement showing the costs, the solicitor’s charges and the mortgage monies that are being repaid. If you are making an onward purchase at the same time, you may need to send a balancing payment.
Preparing to move out
The move will take a lot of preparation, and one of the advantages of having time between exchange and completion is that you can finalise your moving arrangements. This means you can do things like cancelling your home insurance in time for the move, and make sure you’ve read your meters. Sometimes there can be a very short time ( even the same day ) between exchange of contracts and completion ( moving day ) and so early preparation if this were the case will be needed
Completion and moving day
On completion day, the money for the sale of your home will be transferred from the buyer’s solicitor to your solicitor. You’ll need to remove all of your possessions from the property, apart from any items you’ve agreed to sell to your buyer, as they will be eagerly collecting the keys from Acres, or yourself dependant on the arrangements already made.
Once the cash has landed with your solicitor (it's usually done by CHAPS which can take a couple of hours), they’ll telephone you to confirm the completion and authorise key release.
Tax when selling property
If you’re selling a property that’s been your main home since you bought it, you shouldn’t have to pay capital gains tax.
However, if you’ve previously rented out the property, capital gains tax may apply and will be calculated based on the amount of time it wasn’t your main home.
If you’re selling so you can buy a new home, you’ll also need to factor in stamp duty calculator here
What are the costs of moving home ?
Acres fees will vary dependant your properties value, and sometimes other factors, however rest assured they will always be highly competitive, and comprehensive, on a No Sale No Fee basis, in other words you only pay us a fee when you move ! That shows our confidence in being able to find a buyer for you.
- Next up it will be your conveyancing / solicitors
- Then your removal costs
- Mortgaging fees
- The costs for any other expenses, such as the EPC or survey
- Stamp duty – Use Acres calculator here
- This of course is not a full list as there may be other costs for your particular sale but these are the main costs
Are you thinking of selling your property and want to check how much your home is worth? You can get an Instant Valuation here.
If you would like to discuss selling your home, please get in touch with us This email address is being protected from spambots. You need JavaScript enabled to view it. or call any of our busy, helpful teams/offices:
Four Oaks 0121 323 3088
Sutton Coldfield 0121 321 2101
Walmley 0121 313 2888
Great Barr 0121 358 6222
Lettings 0121 312 4997
Thank you for reading this article, and your interest in Acres and our property for sale.
Nigel & Jayne Deekes – Acres Partners
Acres; proud to be family owned, managed, run and to have been serving the North Birmingham community for 33 years.
