Research and plan
Why are you selling your property? How much is it worth? What are you expecting from the sale? These are important considerations before putting your property on the market. Use our free valuation service to help determine your next steps, or speak to our Development Team for advice and guidance.
If you're looking for a place to buy or rent after you have sold your property, our Development Team can direct you to a relevant member of our Sales or Lettings Team to help you with a targeted search.
Obtain your Energy Performance Certificate (EPC)
The EPC is a standard requirement to rank properties based on their energy efficiency, which homeowners must provide for potential buyers. We have accredited contacts who can help arrange your EPC (available upon request) and save you the hassle of comparing prices.
Hire a solicitor
Your solicitor should advise you on all the necessary applications regarding the property and help begin the process by acquiring the documents needed for the sale. We can recommend a number of experienced solicitors with local know-how for you.
The sooner you instruct your solicitor, the sooner you can start the sales process and make sure you have all the required paperwork and information to engage with potential buyers.
Complete the relevant questionnaires
Your solicitor will help you to complete questionnaires to obtain essential information about the property, including:
- (TA6): contains information regarding boundaries, disputes, complaints, development, building work, council tax, utilities, sewerage and contact details.
- (TA7) / (TA9): for someone who has a leasehold or commonhold and allows you to provide relevant information regarding the property.
- (TA10): contains the details of which fittings and fixtures you would like to include in the property. In other words, everything you no longer want or need.
- (TA13): mostly for extraordinary properties and is essential for the conveyancing process
Our Sales Team can also help you with these — just ask.
Acquire a management pack
This is a key pre-contractual document during the pre-sale setup. It contains most of the relevant documentation the buyer needs to know about the property, such as fire risk assessment certificates, deeds, leases, planning permissions, service charge information, notices and other variable documentation.
Our Sales Team will assist you with acquiring a management pack when you sign your contract, so you can provide any relevant documentation requested by the potential buyer and help secure a good offer. Receiving the pack early can save you 1-2 weeks’ of sales process time.
Pay off your mortgage
Your solicitor can help you arrange to pay off your mortgage by requesting a redemption figure from your provider. The redemption figure is the lasting total amount, confirmed in writing by the bank, which can be used as a receipt due from your mortgage. The provider’s response time varies between 3 and 5 days, but it is possible to obtain this sooner.
If you don’t have the funds to pay off your mortgage, not to worry. This can be done upon completing the sale, but you will still need to obtain the redemption figure from your provider at this stage.
Sign a reservation agreement
A potential buyer has just placed an offer for your property, but they can still change their mind. We recommend that you sign up to a reservation agreement where both the seller and the buyer commit to the transaction by placing a deposit. If one side decides to pull out, that party will lose their deposit. Should you wish to find out more about reservation agreements, contact us, and a member of the Sales Team will get in touch.
Once you have accepted an offer from one of the potential buyers, your solicitor will set up a contract and send it to the buyer for approval. The contract will include all the agreements created between both parties and, more often than not, most of the information in the management pack. Then, the contract will often go back and forth between solicitors and the buyers until both parties are satisfied with the final version of the contract.
This would be a good time for you to finalise any pending payments and for the buyer to get their funds ready. We will ensure the transfer of the funds takes place promptly, but please expect a small delay while the banks process these payments. After exchanging contracts, both parties will have agreed to be legally bound by the sale and will proceed to complete the sale.
Time to move out
During the time between the exchange of contracts and the completion of the sale, you should start arranging for all of your belongings to be moved out of the property. We can provide you with a list of useful contacts to help with the move.
Complete the sale
This is where all funds are transferred, contracts are signed, and the legal promises are fulfilled. Congratulations, you have officially sold your property! The solicitors will register the transfer, exchange the keys to the property, and calculate the post-completion stamp duty on your behalf.
This process usually takes 3 to 10 days to complete to allow time for the banks to release funds, but in some instances, sellers and buyers can complete and exchange on the same day.