First-time seller? Here’s all you need to know!

Selling your home for the first time can be a daunting process, that’s why here at Expose Property we want to demystify the process for sellers.

In an unpredictable climate due to spiking of Covid cases, now, more than ever, sellers will want to know what they need to be aware of the first time they sell their house.

Get your property sale-ready

Before putting your property on the market, you need to ensure your property is looking as best as it can be for photos and viewings, as the home’s appearance is likely to be a deciding factor for buyers. You need to make sure your home is neat, tidy and clutter-free, as this can help potential buyers envision the property as their own.

Your home doesn’t just need to look the part, your garden does too, and making sure your garden is in tip-top shape for viewings could be a savvy investment. Recent studies have shown that a well-maintained garden can add up to 20% to the value of a house, meaning the average UK property could see an increase of around £51,200.

Price your property right

One of the first things a buyer notices will be your property’s price tag, so you need to make sure you value your house right. If you price your property too high, you could deter buyers, and if you price it too low, then you could be missing out financially.

In a competitive market, a well-priced home could end up selling for substantially more than you’ve priced it at. That’s why it’s important to work with reputable and knowledgeable estate agents. To find out how much your property is worth, you can use our instant online valuation tool. You can also book an expert valuation with us which will be an in-home visit.

Viewings

Physical viewings

Viewings are when prospective buyers are shown around your property. It’s usually better for estate agents to conduct viewings as they can be more professional and objective and answer questions about the house-buying process. But if you want to do it yourself, it’s important that you are helpful but not intrusive and allow buyers to explore the home as they wish.

Virtual viewings

Because of Covid-19 social distancing rules, virtual viewings have grown in popularity. Virtual viewings also have several benefits such as being time-saving, reducing the need for home visits and allowing an unlimited number of people to view your house as many times as they want to.

Get an energy performance certificate

When selling your home, you are legally required to have an energy performance certificate (EPC). The EPC will let the buyer know how energy-efficient your home is and also give an idea of the energy costs of living there.

Instruct an estate agent

Picking the right estate agent is vital to getting the best possible price for your property, to ensure it is sold for a price it deserves. It is recommended that you seek out estate agents who know your local area well and are experienced in their field.

Here at Expose Property, our founder has over twenty years of estate agency experience. It’s also advisable to choose estate agents who are members of a trade body, which means they have to follow a strict code of conduct and will maintain a higher level of professionalism than unregulated estate agents.

At Expose Property, we are NAEA Propertymark Protected, which gives you the assurance that we are regulated and following best practices and meeting high industry standards. You can find out more about us and our experience here.

Find a solicitor

Another vital person in the selling process will be your solicitor as they will help with the legal transfer of the property to keep the buying and selling process timely. You can go by recommendations of your family or friends, or do your own research, but most estate agents will be able to recommend a solicitor or conveyancer.

Getting an offer

There is a lot of waiting in the selling process, so you need to be patient. Even though you will likely receive initial interest, offers can fall through at any minute, so it’s advisable not to get too carried away when you get an offer. There is still a long process ahead that follows and nothing is binding until contracts are exchanged.

When you receive an offer on your house, think about it thoroughly and make sure this is the right decision for you. Try to seek out buyers who are serious and organised. This can be hard to spot but a red flag is if they don’t have everything sorted, such as a mortgage in principle.

Negotiating the contract

Once you’ve received an offer, then you need to work with your solicitor on the smaller details which can range from fixtures and fittings that will be included in the sale to how long will be allowed between exchange and completion.

It’s likely the buyer will have questions about the sale and the property, which can take a while to overcome. The average property transaction takes around 14-16 weeks, from beginning to end, provided there are no major issues during the process.

Exchange and complete

Once contracts are exchanged that’s when the buyer pays the deposit, and the contract becomes legally binding. You will need to move all your belongings out as soon as you can and drop your key at the estate agent’s, so they can give them to your buyer.

Here at Expose Property, we can help you to sell your property, using our experience of selling homes in Beckenham, Penge, Crystal Palace and other places in South East London.

You can also get an idea of how much your home is worth by using our free instant online valuation tool here.