Sell your property through Property People
Selling a property can be a difficult and stressful time; luckily we can offer help and advice at every step of the process. Our highly skilled and experienced staff will dedicate as much time as necessary to ensure everything goes without a hitch. We have compiled a basic guide to the selling process below.
The process of selling your property
Step 1: Getting an accurate valuation
All our staff have lived their entire lives in the Southfields and Wimbledon Park area and have great local knowledge, that combined with years of experience in the industry means we can instantly give you an accurate price that your property is likely to achieve in the current market.
Step 2: Appoint an estate agent
Appointing an estate agent may seem overwhelming as there are over 100 agents covering the local area. Property People are a small company which means we truly value your business. We will work tirelessly to find you a buyer for your property in as short a time as possible. Using top websites such as Find a Property, Right Move, Zoopla, Prime Location and Globrix to name a few we can reach a huge number of prospective buyers. There are two ways you can appoint an estate agent.
Sole agency is where you give the job of selling your property to a single estate agent for a fixed period of time. The commission rate for a sole agency sale will be lower than that of a multiple agency sale, because that agent has a greater chance of being the one to find your buyer. If you accept an offer via another agent then you might have to pay more than one fee. Sole Agency is the most popular option.
Multiple agency is where you instruct several estate agents at the same time, who will all market your property. The commission rate for a multiple agency sale will be higher than that of agency.
Step 3: Presenting Your Property
First impressions count and there are a few things you can do to ensure you find a buyer as quickly as possible, which are:
- Reduce Clutter – Remove things you don't need, this will allow the buyer to imagine what the property will look like with their possessions in and will make rooms look bigger.
- Add a coat of paint – A neutrally coloured fresh coat of paint can really make a difference.
- Have a good clean – A simple tidy and clean including windows really helps.
- Outside too – A buyer will often walk or drive past a property they are interested in before arranging a viewing. Painting the outside and tidying the front garden or driveway will give a great first impression.
You're then ready for your estate agent to start showing prospective buyers round.
Step 4: Agree the sale
As the offers from buyers come in we will present each offer to you and negotiate with the prospective buyers on your behalf. The factors that we will discuss as offers come in are price, whether they are in a chain (trying to find a buyer for their property), the position they are in to buy and the timescale.
Step 5: Up to exchange of contracts
If you haven't appointed a solicitor you will need to at this point, we can recommend one if required. The buyer will provide us with their solicitor's details, which we will pass on to your solicitor who will start drawing up the contracts.
The buyer and their mortgage lender will carry out valuations and surveys on the building. If any queries are raised we will discuss them with you and try to resolve them.
Once the buyer and the mortgage lender are happy with everything you're ready to exchange contracts. Once the contract has been signed by both parties the deposit (usually 10%) of the purchase price will be paid by the buyer's solicitor to your solicitor.
Then a completion date is arranged to suit both parties.
Step 6: Complete the sale
Completing is usually a phone call from your solicitor saying that you have completed. This means any mortgages have been paid off and new ones arranged, the residual monies (usually 90%) and legal transfers have all transferred successfully. Your solicitor will then inform us to release the keys. As soon as you have completed the sale the property belongs to your buyer and they can move in immediately.
You have now sold your home – congratulations!
Our selling fee on a sole agency basis is only 1% of the final sale price of the property and is only payble upon completion. There is nothing to pay to market the property. If however you choose to market the property with other agencies as well as with us, the fee is 2% of the final sale price if the property is sold by us. Beware, if you sign a sole agency contract with one agency and sell the property through another, you may be liable for fees to both agents.
Mortgages and Conveyancing
Please ask our staff and we will put you in touch with our recommended mortgage advisors and conveyancing solicitors.