Selling process

Obtain an accurate valuation

The first step in the process of selling your property is to find out what price you could achieve in the current market. To get an idea, you can do your own research on a selection of recent sale prices for similar properties in your area using property websites or instant valuation estimates, but we recommended getting in touch with us to book a valuation with one of our local, qualified property valuers.

Appointing an estate agent

Once you’re confident about how much your property is worth, you will need to choose an estate agent to help you market and sell your property. While it may be tempting to choose an agent based purely on fees, it’s important to keep in mind the many intricacies of buying and selling property. As the old adage goes – buyer beware! You get what you pay for.

Of course achieving the best result isn’t entirely about the money. Particularly when it comes to buying and selling property, the experience you have makes a big difference. We recommend considering the agency’s experience, accreditations, reputation, local knowledge, marketing expertise and, of course, the number of serious buyers an agency can bring to view your property.

Finally, it is important that you feel comfortable in dealing with your estate agent, because you will be speaking to them regularly; they will be acting and negotiating on your behalf during what can be a stressful time.

Why? Each area of London offers a distinct community feel, unique with their own atmosphere, architecture, history and culture. Within these areas are a multitude of subtle yet important differences in local properties – garden size, distance to the Tube, width of houses, parking, light, views – the list is endless. Even if they are on the same side of the street and are exactly the same size, two properties have different values to different buyers.

As such, our local property valuers will take the time, and have the knowledge and experience to understand the nuances of your area and your home to provide an accurate appraisal of your property.

Marketing your property

Once you’ve instructed an agent, the fun starts! Marketing your property in the right way is incredibly important; there are a number of common places you should expect your agent to showcase your property:

• Their website
• In their office on window cards
• Leading property portals, such as Rightmove and Zoopla

Appoint a solicitor and prepare your legal paperwork

Buying and selling property requires legal oversight and legally binding agreements; as such, a conveyancing solicitor needs to be appointed to undertake this aspect of the process.

We suggest appointing a solicitor as soon as you have decided to sell your property so that all the necessary paperwork is completed before you receive offers. This will ensure that there are no delays in the process and that you are ready to sell immediately, which in itself can be a plus for potential buyers.  If you will be buying another property once you have sold, it is advisable to appoint the same solicitor for both processes to help guarantee an efficient transaction.

Organise your property sale documents

In addition to the legal and financial documents requested and prepared by your solicitor, you are also required to complete detailed forms about your property for buyers when selling your home.

The first is a property information form TA6 which requires you to complete details regarding boundaries, access, services, building regulations, planning, guarantees etc.

The second is a fixtures and contents form TA10 requiring you to indicate which fixtures will be included in the sale of the property, such as, kitchen appliances, carpets and curtains.

For leasehold or share of freehold properties, there are additional forms such as the leasehold information form TA7 and a Management Information Pack, which provide information regarding the lease, shares, access and service charges.

Finally you will be required to produce an Energy Performance Certificate (EPC) which is an assessment of the property’s energy use efficiency and environmental impact. You will need to find and pay an assessor to undertake this assessment and provide the certificate.

Make your home attractive to potential buyers

Many people make the mistake of thinking it is OK for potential buyers to see their everyday clutter because they too will have their own clutter. No. They are buying a dream and looking at how their life will transplant into your house. To do that, they need a pretty bare but beautiful and functional canvas! Reducing your personal stamp will help them to see theirs.

When viewings have been arranged: clear the clutter out of sight, clean and polish, tidy up the outside space, put flowers in vases, fill the fruit bowl, plump the cushions, banish the dog/cat and hide their beds/bowls, and air the property.

Read more selling advice and tips for preparing your property for sale.

Taking viewings at your property

Then the exciting bit starts – we can introduce your home to prospective buyers, and organise viewings. These can be done by yourself, but generally our customers prefer to let us do the legwork.

We’ll be spending a lot of time with you, so we’ll ensure we’re fully clued up on the quirks and charms of your property before we host viewings.

Negotiate and sell

When potential buyers would like to purchase your property, they’ll inform your agent of the offer they would like to submit. We will then confirm any specific circumstances of the offer (e.g. whether they need to sell their property first, secure a mortgage or are cash buyers), then in turn inform you.

The final decision about whether to accept the offer is yours but we will advise you as to whether we think it’s a good offer or not given the circumstances and your urgency in selling.

If the offer is less than your asking price, you will then enter into negotiations, and this is where having an experienced estate agent working for you pays off. Similarly, if a number of people are interested in your property and begin to bid higher than the asking price, you will be advised on how to proceed in order to get the best price from those who are genuinely ready to buy.

Once you accept an offer, a Memorandum of Sale is drawn up to record the agreement between seller and buyer and your property will normally be removed from or marked “sold subject to contract” on property listings.

A period follows when the buyer’s surveyor will survey your property, their solicitor will undertake searches and confirm all legal aspects of the property are in order; mortgages may need to be finally agreed etc. A completion date is then agreed, contracts are drawn up, and if approved by both parties, they are signed and exchanged and become legally binding. On the completion date, monies are transferred and the sale is complete.

Exchanging contracts and completing

The buyer’s surveyor will inspect the property, after which there may be a renegotiation if any problems are uncovered. Both solicitors will be drafting contracts at this time. Once both parties sign the contracts (exchange contracts), the sale is legally binding. The buyer’s solicitor will organise transferring the buyer’s name to the deeds via the Land Registry Office, and the deposit will be transferred to your solicitor.