Date Published 04 February 2019
Moving home is constantly included in the list of life`s most stressful activities, up there with marriage and starting a family. We at Oudini like to make this process as simple as possible in order to keep the transition to your new home straightforward and enjoyable, so take a look through our guide and start your stress-free move with us…
1) Cash is king
First and foremost in our guide to selling is your finances – get these in check and that goes a long way to smoothening out the whole process. Speak with your bank or mortgage provider to let them know your intention of moving in order to understand your financial position – for example, are there any charges for paying your mortgage back early? Of course, organising your new mortgage or understanding your options either with your current provider or elsewhere will put you in a good position when you are ready to move.
2) Don`t budge on the budget
Once you have understood your position with your current mortgage, it is important to consider what it will actually cost to sell your home and budget for this accordingly, in order to avoid any nasty surprises along the selling process. Of course, estate agency fees should be budgeted for as these are the foundation to selling your current property, but don`t forget the EPC document which sets out the energy efficiency of your home which is a necessity for a seller to provide. There are also conveyancing fees for your solicitor or legal conveyancer, as well as removal costs – don`t forget to factor in how much it may cost to move your possessions.
3) Fail to prepare, prepare to fail
Okay, so you have your financials in place – you know how much it is going to cost to sell your property, as well as what your mortgage options are moving forwards, so it is time to get hands-on with the property sale. Prepare your property for selling in order to encourage a quick sale and put you in a better position to make an offer of your own on a property. The premise is simple; allow others to imagine themselves in your home by decluttering and showing off the raw potential that your property can offer to them. By decluttering the surfaces and removing the majority of your personal items and mementos, a buyer will be able to imagine their own possessions in your home and therefore be more likely to purchase your property. If necessary, bite the bullet and make the bigger changes – a fresh lick of paint here and there, a tidy up of the garden or a new bathroom suite will all help you to sell more quickly.
4) List early
To avoid missing out on your dream property, get your house on the market as early as possible – sometimes this may seem like you`re listing too early, but don`t be afraid to take the plunge. Listing your properly early will also help to focus your mind on the fact that you have made the decision to sell, and encourage you to be active in your own property search.
5) List with Oudini
We at Oudini Estates are an independent company with a strong team who are modern, mature and proactive in their way of working as well as maintaining traditional values of politeness, professionalism and ethics. A key to your home selling success will be to list with a reputable agent, and you won`t find more reputable or more knowledgeable that here at Oudini. At this point of listing, we`d recommend hiring a solicitor or conveyancer to handle the legal work of transferring ownership of property – of course you can only instruct them after agreeing on an offer but having the legalities in place will save you time in the long run.
6) Offers galore
Your estate agent is legally obliged to pass on all offers which are made on your property – even if they are unrealistic, so be prepared to receive lots of differing offers and don`t jump at the first one. If you aren`t happy with the offer, you can reject it outright or alternatively if you are pleased with the offer, you can accept it straight away. Between those two extremes, however, there lies much room for negotiation so think carefully about what you`re prepared to accept for your property, and how this will affect your own search for your next property.
7) Say `I do`
Once you have formally accepted an offer, your next move will be to remove your property from the market – often offers will be made with the caveat that your home will be immediately removed from the property market to avoid gazumping (a higher offer being later accepted). At this stage, a formal acceptance is not legally binding – it is simply an agreement so do not rest on your laurels that the buyer is 100% committed; this is where being organised and making the process swift will help to avoid any second-thoughts by the people in your purchasing chain.
8) Contract tact
So, you have accepted an offer on your property. The next stage will be negotiating a draft contract between yourself and your buyer to cover things such as; whether fixtures and fitting are included, if they would like to seek any discounts for anything which has came up in their survey of the property and how long the passage of time will be between exchange of contracts and completion dates. Once the minutiae have been agreed upon, it is time to make the whole process legally binding and exchange contracts – if you pull out after this point then the buyer will get their deposit back and you may well be sued. If this point has passed without a hitch, then congratulations – you have sold your property! Once the exchange of contract happens, you will then have an agreed number of days to move out of the property (agreed when drafting the contracts which have just been exchanged between you and your buyer).
9) Moving day
You can move out right up to your day of completion – we`d recommend not leaving it quite so late just in case there is a problem with the moving process, but you do have the option!
10) Done and dusted?
Completion is official when the property changes ownership (contracts signed and exchanged), payment for the property is accepted and the keys have been handed over. All of these final touches occur on a pre-agreed date to ensure that all parties are in accordance, and there is no break in the selling chain. On this day, the property deeds as well as the money are transferred between the legal teams for each party, who will then register the transfer of ownership with Land Registry. Once the money has been transferred to your legal team, they will pay off the mortgage you and you will then only have their fees to cover in order to finish up your sale neatly.