Vendor’s / Seller’s guide
The key steps involved with selling a property are listed below. If you require any further information or advice, please do not hesitate to contact us.
-
1
Establish the value of your current property
-
2
Select an
Agent -
3
EPC
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4
Preparing your
property for
sale -
5
Conducting
viewings -
6
Negotiating
the deal -
7
Surveys
-
8
Sale
progression -
9
Exchange
-
10
Completion
Step 1: Establish the value of your current property
A realistic assessment of the value of your property is a very important first step. You will need the experience of a professional estate agent to discuss and assess its real value, thus we will provide you with a free, no obligation appraisal.
We will arrange an appointment to visit you at your property at a time and date convenient to yourself to discuss your specific needs, with the ultimate goal of achieving the best possible price. At our meeting we will take a detailed inspection of your property and take photographs and discuss market force and current demand.
Step 2: Select an Agent
Having established the value of your property and you have decided to go onto the market, you will need to decide on an agent to act for you.
Wentworth Estates are experienced agents have local property knowledge and a comprehensive marketing strategy and will work for you on a personal basis from instruction to completion. Wentworth will nurture the sale of your property, from instruction, through to viewings, and personally deal with all offers as well as sale progression to completion providing a personal service that differs from other agents and is second to none.
Step 3: EPC
An energy Performance Certificate (EPC) for a property is a legal requirement if there is not a current one in place. We can organise to have an EPC produced for you.
Step 4: Preparing your property for sale
The majority of purchasers now use internet property portals to search for a new home. With this in mind the initial visual image is crucial and increases interest. First impressions matter so the professional photography of your home to enhance its potential is imperative.
Preparing your home for the photography and floor plan could involve some re-arranging of furniture and advice on presentation and removal of personal effects may be called upon.
Wentworth Estates we use the following to advertise our client's properties:
- Window displays in branch
- Telephoning buyers we think would be interested in your property (particularly those we know will work well with your timescales and price expectations)
- Email buyers we think would be interested in your property (particularly those we know will work well with your timescales and price expectations)
- Brochures for issuing in branch, at viewings and via the post which will contain accurate floor plans, dimensions and professional photography
- Internet promotion on our Wentworth website and other marketing portals such as Zoopla, Rightmove,
- 'For Sale' signs (if acceptable by the local authority)
- Newspaper adverts is applicable
Step 5: Conducting viewings
Wentworth Estates invest huge amounts of time and money towards marketing properties to prospective purchasers with the prime aim of encouraging them to view a property.
Wentworth Estates will discuss with you the most convenient times and days to present your property at your convenience and we will do our upmost to work within these guidelines when arranging viewings. Consideration needs to be given to your weekly patterns, parking, traffic levels, light levels and garden aspects. Wentworth Estates will go the extra mile for their clients and are often available seven days a week.
It is important to be prepared for potential buyer's questions such as; which fixtures and fittings are included? What are the neighbours like? What are your reasons for moving? We recommend discussing your answers with our staff to consider answers which will not disadvantage you to buyers. This will also ensure we are on the same page if the buyer asks the questions of your estate agent after the viewing.
Step 6: Negotiating the deal
Any offer received on your property will be put to you in the first instance verbally followed up in writing within 24 hours. You will need to respond to said offer as promptly as possible. If the initial offer is rejected and the purchaser decides to increase their offer then the whole process will simply be repeated.
Wentworth will make every effort to qualify purchasers i.e. check status and ability to proceed with any offer made. We will ask for contact details of their solicitor/conveyancer, mortgage lender and any estate agent dealing with their current property sale.
You will need to instruct a solicitor/conveyancer to act for you in the sale of your property and it is at this stage that we will consider if it is prudent to stop showing your property to other prospective purchasers.
Wentworth will always make you aware of any chain implications and the likely timescale of any agreed transaction. We will liaise on your behalf with legal parties acting for both yourself and your buyer on a regular basis at least weekly but more if the situation demands, ensuring we keep you abreast of progress on a timely scale.
Step 7: Surveys
In conjunction to the legal process, one or more surveys may be commissioned on your property. If the Buyer requires a mortgage their lender will make arrangements for a very basic survey, known as a Valuation, to provide assurances that it is worth the price being offered for it. In addition the Buyer may also commission a more comprehensive survey which will assess in more detail the condition of the property and make appropriate recommendations.
Step 8: Sale progression
Sales progression or otherwise known as "deal chasing" is the real work that any good agent undertakes, however some agents leave this important service for others to do for them.
Holding a sale together up and down the chain can sometimes be straight forward and other times not so easy and needs constantly pushing to keep things progressing.
Wentworth Estates staff are trained to be proactive, constantly "chasing" all parties concerned, resolving any issues that can often result in the chain breaking. They will check that a mortgage offer is in place or a valuation has been undertaken and ensure that good communication is kept to so that you are aware at all times of the progress. Wentworth Estates will actively work on your sale and will contact you at least once a week.
Step 9: Exchange
Exchange of contracts occurs when all of the enquiries have been answered, such as:
- The Preliminary enquiries following receipt of draft contract
- Evidence of a good title
- Specific issues highlighted in the Lease, if applicable
- Local search queries
- Fixtures and fittings to be included in the sale
- The buyer's mortgage offer
When the contract has been signed by both parties, the deposit (usually 10% of the purchase price) has been received and the solicitors are satisfied everyone is ready to proceed.
Your completion date will normally be set at this stage.
Step 10: Completion
Completion occurs when the balance of the monies are paid to the sellers solicitors.
Once the seller’s solicitors have confirmed receipt of funds, they will authorise Wentworth Estates to release the keys to the new buyer.
Before you leave remember to take meter readings and re-direct your post. We recommend you leave some notes for the new owner to explain how things work and where to find the essentials such as the boiler switch etc, they are sure to be appreciative.
Congratulations, your property is now sold!
To arrange for a “Free Valuation” or if you have any questions regarding the sale of your property you can call us on 0208 478 4786 or fill in the valuation request form and we will be happy to assist you further.
