Step 1 - Realistic Marketing Valuation
Handles Property will visit your property to carry out a free marketing appraisal. We will listen carefully to your requirements and advise on a personal marketing strategy to suit your needs. We will also give our recommendations on pricing based upon our knowledge of local property sales and demand for property in your area.
Step 2 – Presenting Your Property
First impressions are very important. We will advise if we feel any jobs will be beneficial such as lick of paint here or there or a bit of decluttering. The most important thing is for the property to be clean, especially the kitchen and any bathrooms. If you have any jobs in mind please ask us first as sometimes the cost and effort may make only a small difference in the speed of sale and final sale price.
Step 3 – Preparation for Marketing
We will take photographs and measurements of your property with a view to producing a draft sales brochure which will be forwarded to you for your approval. At the same time we will organise the Energy Performance Certificate (EPC) on your behalf if required. It is also a good idea to consider instructing a solicitor at this stage in order to minimise any delays once a buyer has been found.
Step 4 – Marketing
When you have approved all of our marketing literature Handles Property will commence marketing in line with your preferences. We offer various marketing options from low profile to full advertising, Open House events, private treaty and informal tender.
Step 5 – Accompanied Viewings
We will, whenever possible, accompany all the viewings on your property. Our research has shown that most buyers prefer to be shown around the property by the agent as we find this way the buyers are more open regarding their thoughts and if the viewing does not lead to an offer we will be able to give you constructive feedback. You are free to carry out your own viewings if you prefer.
Step 6 – Receiving an Offer
All offers will be confirmed in writing and reported to you at the earliest opportunity. If the buyers are dependent on selling a property we will speak with their estate agent to “check the chain”. We will also discuss timescales as this can often be just as important as the price.
Step 7 – Agreeing the Sale
Handles Property will carry out due diligence checks on your buyer, gaining proof of funds and confirming identification and address. We will write to all parties confirming the terms of the sale and issue a memorandum of sale.
Step 8 – The Transaction
As the vendor you will be sent a number of documents to complete regarding the property such as a property information form and a fixtures and fittings form. It is important to complete and return these documents to your solicitor as soon as possible as they cannot issue a draft contract to your buyers’ solicitor without them. If you instructed a solicitor when you first went up for sale it is a good idea to complete these forms before you have found a buyer. Once the buyers’ solicitor has received the draft contract they may raise some queries and ask for more clarification. These are called pre-contract enquiries. At the same time they will apply for various searches on your property which, when received, may lead to more queries. If your buyers are having a mortgage you will be contacted to arrange a visit for the lender’s surveyor to carry out a valuation on the property. The buyer may also have a more in depth survey such as a building report or full structural survey.
Step 9 – Exchange of Contracts
When the buyers’ solicitor has all the information required they need they will “report” to their client. This means that they will either invite the buyers to their office to run through the contract or send it to them to check and return. Sometimes the buyers’ solicitor will raise some more queries at this stage if the buyer wants further clarification. Once the buyer has signed their contract they will be asked to send their solicitor the deposit (normally between 5% - 10% of the sale price) so the solicitors can exchange contracts. This is when the sale becomes legally binding with financial penalties for the vendor or buyer if they then decide to withdraw from the sale.
Step 10 – Completion
When the contracts are exchanged the completion/moving date is agreed as part of the contract. It is possible to exchange contracts and complete on the same day but this can be very stressful especially if the properties involved are lived in. Normally there is one or two weeks between exchange of contracts and completion as this gives the parties moving more time to organise removals, utilities etc. The completion can be a longer period, even months, as long as both parties have agreed this at exchange of contracts but this is uncommon. On the day of completion your solicitor will let you and your estate agent know when they have received the full balance from your buyer. This is when the sale is concluded and keys can be released to the new owners of your property. If there is a “chain” of properties the completion starts with the property at the bottom and moves up to the end of chain. If people are physically moving on the day there must be a little give and take on accessing their new properties as the top of the chain will complete a bit later than the bottom.
Congratulations, you have sold your property!
To find out more about our service and to book your free marketing appraisal please click here.