1. Decide on the price
Finding correct price
The quickest way to determine how much your property is worth it to look at the price of similar sized
properties in the same area. You can look in local property newspapers, estate agent windows or on property
websites. It is worth considering that most buyers will make an offer slightly below the asking price. You therefore may
wish to set the price slightly higher.
Fittings and fixtures
You can charge extra for fittings such as curtains and carpets. These can be included in the selling
price, or you can offer these at an extra cost. Permanent fittings such as fire places and heating systems
are assumed to be included in the price unless you state otherwise.
2. Obtain a Home Information Pack (England & Wales only)
HIPs
Home Information Packs are now (as of 14th December 2007) a compulsory part of selling all homes in England and Wales,
even if you are selling the property privately.
Unfortunately this will add to the cost of selling your home, but the idea is that the packs will give potential
buyers more information about the property at an earlier stage, therefore leading to smoother transactions. Please visit
our Home Information Pack guide for more HIP Information.
Buying a HIP
The market price for a Home Information Pack is currently about £320.00. This price should fall over the coming months
as more Energy Assessors are trained, and more pack providers enter the market. However we at
MagnoliaProperties.co.uk have jumped right in with a rock bottom price of just £269.00. This is almost cost price for
a pack, so we will be very surprised if you find one cheaper. Click here for more information and to
buy our cheapest HIPs online.
3. Advertise your property
The Internet
It is the Internet which has made selling your own home so easy. It is the cheapest, easiest and quickest way of reaching
the highest number of potential buyers. We obviously recommend
listing your property on MagnoliaProperties.co.uk.
Here are reviews of other home selling compaines.
Advertising locally
A clearly written for sale sign at the front of your property and notices on local message boards are both
low cost and effective ways of generating interest from potential local buyers. You can make one yourself or
buy one of ours, click here to see the price of our for sale sign boards. You could also investigate the
cost of advertising in local property newspapers.
4. Conduct viewings
You will most probably have to show perspective buyers around your house. It is advisable to first speak to them
on the telephone to make sure there are no misunderstandings about the property, this could save you both some time.
It is said that most people make up their mind about a property within the first ten seconds of stepping inside,
so make the house presentable!
Do make sure that you take common sense precautions when showing strangers around your house.
5. Accept an offer
If you set the correct selling price and advertise your property well, you will most probably receive more than
one offer. You don't have to accept the first offer, or the highest offer. You should take into account factors
such as the length of the buyer's buying and selling chain; whether the buyer is paying with cash or
needs to first obtain a mortgage; whether the buyer wishes to move at the same time as you.
Accepting an offer does not legally bind either party into the contract. You can accept a higher offer at a later
date, and the buyer can withdraw their offer.
6. Find a solicitor
Conveyancing
Conveyancing is the legal transfer of the ownership of a property. It's a process which covers rights to the land
and rights to sell, neighbour disputes or planning issues which could
affect the property, deposits and payments, exchange of contracts, title deeds and stamp duty.
It is often thought that estate agents do the legal work involved in selling a house but they don't.
They just refer you to a solicitor.
While it is possible to do the conveyancing yourself, and there are plenty of books on the subject,
it is highly recommended that you use a solicitor or a licensed conveyancer.
Using a solicitor/conveyancer
You can find local solicitors in the Yellow Pages or with a Google search. It is worth ringing a few to get some
quotes as there is no set price. Some conveyancers offer a no fee no completion policy, where by you don't
pay if the sale falls through. You should ask if the price is fixed or if more could be charged if
more work is required. The cost can vary from a few hundred pounds to several thousand depending on the complexity
of the exchange.
Our chosen trusted solicitor charges from £450.00 for a freehold property. If you list your property with us,
we will refer you to them after you have found a buyer.
7. Move out
After the contracts have been exchanged, and before completion, the buyer can be allowed to visit the house
to make any measurements or building estimates. You should however not let them carry out any work on the
property until after completion.
Completion
Completion is the date which is set where the solicitor receives the payment from buyer, and the date
where you must leave the property empty and hand over all keys to the new owner.
