GUIDE TO SELLING

If you’re new to selling, or haven’t done so for a while, here’s our guide to how it all works.

the valuation

Whether you’ve completely decided to sell your property or are just thinking things over, please feel free to call your local branch of Mansell McTaggart. We have offices across the heart of Sussex and into Surrey, so there’ll always be one nearby.

We’ll agree with you the best time to come and carry out a valuation of your property. We’ll keep in mind the sum you’d like to achieve for your property, and any timescales you need to work to. Our expert valuer will suggest the figure that would be a realistic price to start marketing, and will back this up with evidence of similar properties nearby which have been on the market.

“It’s entirely your decision whether or not you wish to proceed to offer your property for sale. We’ll never pressurise you to market your property - if and when you sell is a big decision that only you can make.„

Chris Hounsome, Mansell McTaggart, Crawley

preparing for marketing

It’s entirely your decision whether or not you do put your property on the market.

If you do decide you want to go ahead, we’ll agree with you the best time to:

• write-up your property brochure
• photograph your property
• draw up the Energy Performance Certificate (EPC) if you don’t have a valid one (this is a legal requirement before marketing can begin)
• compile the floorplan, which allows buyers to see the full layout, shape and flow of your property.

marketing

Once we have compiled your property brochure, we’ll ask you to approve them for publication. We’ll then upload your property to our website and the other sites on which we advertise.

We’ll also email all buyers on our database who are looking for a property like yours, and phone the ones we know to be really keen.

selling

Soon interest in viewing your property should build, and we will always call to agree convenient viewing times with you. If there are any times that are better than others, please let us know and we’ll do our best to fit everyone in.

We like to accompany potential buyers on every viewing – partly for your security, but mostly so we can gauge buyers’ reactions face-to-face and provide you with accurate feedback afterwards.

After each viewing, we will call the ‘viewer’ to hear their thoughts, and counter any objections they may have.

We’ll be in touch as regularly as you like to update you on progress, and to discuss any changes we think might help your sale.

agreeing the sale

After a few weeks of viewings we usually receive offers from would-be buyers (although this can vary a lot depending on the market conditions, the marketing price you have chosen, and the type of property). Once we receive an offer from a potential buyer, we will clarify their ability to fund the property. If they need a mortgage, we will ask to see their Agreement in Principle (AIP). If they are selling a property in order to purchase yours, we will ask to see their Memorandum of Sale as confirmation.

You should take as much time as you like to consider an offer, but do bear in mind that sometimes things need to move quite quickly in order to keep the sale together. We are adept at handling negotiations with the buyer on your behalf.

Once an offer is agreed, we will contact your solicitors and the buyers’ solicitors to confirm each party’s details.

conveyancing

Once you agree an offer, you should get all the documentation your solicitors need to them, if you haven’t already, to keep things moving. This will include:

• fixtures and fittings that are included/excluded in the sale
• the property title deeds, which are likely to be with the solicitor you used to buy the property or your mortgage lender
• any disputes, such as with a neighbour, that may relate to the property
• to define the exact boundaries of the property, and with whom responsibility lies for maintaining hedges and fences
• whether any additions or changes to the property have met local planning and building regulations
• that there is no right of way through the property
• details of rights of access that are shared with a neighbour, eg driveways
• whether the deeds specify certain things like painting the door certain colours or not keeping pets
• copies of guarantees or insurance policies, eg whether the property is covered by the NHBC guarantee or a wood-rot treatment guarantee
• services: whether the property’s utilities (gas, water, electricity) reach it via a neighbour’s property or are shared with a neighbour.

If the property is a leasehold, your solicitor will ask for the name of the managing agent, the freeholder and a statement of account for the ground rent and services charges.

keeping the sale on course

The conveyancing process is complex and can be frustrating – especially if your solicitor is not particularly communicative. Your Mansell McTaggart negotiator will regularly chase all parties in your chain to ensure that things happen on time.

Your buyers and/or their mortgage lender will want to carry out their own valuation of your property, and may well ask for a fuller survey or “homebuyer’s report”. This can be a worrying time: it is not unusual for the report to highlight areas of concern which you had not previously considered to be problematic – but remember the surveyor’s job is to mention anything and everything which might possibly be a cause for concern.

Buyers can often be troubled by these ‘warning lights’ but ultimately it usually comes down to a matter of common sense on their part, and even an acceptance of various imperfections as part of property ownership, especially in respect of older homes. It is the job of a good estate agent to make sure the parties don’t panic unduly and to keep the sale together!

exchange of contracts

Finally, your solicitors will agree on the phone to ‘exchange contracts’. This is an exciting moment as it is when the sale becomes legally binding for both buyer and seller.

completion

Completion is the moment the sale of your property is final!

Your solicitor will contact you and us when the buyer’s money has cleared and we will then let the buyers have the keys. If any balance of monies is owed to you from your sale, your solicitor will transfer them into your bank account.

We hope this all makes sense, but if you have any questions, please don’t hesitate to get in touch.

the largest independent agent in Sussex

find out why so many people sell with Mansell McTaggart