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Guide to selling property

Selling a property can be a complicated process. Hopefully this step-by-step guide will help you understand the process a little better. Good luck in your sale.

Guide to Selling Step 1 - An accurate Market Valuation

Step one – An Accurate market valuation:

Your aim should be to sell your property at the best possible price and in a time scale that suits your needs. One of the first and most important tasks is to obtain an accurate valuation. We have a specialised valuation team dedicating their time to valuing property. They have all worked for Peter Ball & Co for many years giving them unparalleled knowledge of property values in your area. This is why we often achieve the asking price across all our clients’ properties. Take the first step and call one of our 5 offices near you or request a valuation on line.

Tip: Always obtain a minimum of two valuations on your property to compare prices and level of service.

 

Guide to Selling Step 2 - Choosing the right Estate Agent

Step two – Choosing the right Estate Agent:

With over 30 Estate Agents covering the Cheltenham & Tewkesbury areas, all purporting to offer the same level of service, it’s not surprising what a challenge this can be. Recent research has indicated that 88% of sellers do not base their choice of estate agent on price alone but also consider factors such as local reputation, success in selling property similar to theirs and experience and local knowledge of the area.  

Peter Ball & Co has over 25 years' experience in selling property with 5 offices across Cheltenham, Bishop’s Cleeve and Tewkesbury. We can confidently confirm that all Estate Agents are NOT the same.

We use the following to advertise homes for our client's properties:

  • Window and wall displays in branch
  • Direct communication with registered buyers we think would be interested in your property, bearing in mind your personal timescales and price expectations
  • Property alerts before they go on line, creating urgency in the market place
  • Brochures for issuing in branch, at viewings and via the post which will contain accurate floor plans, dimensions and photography
  • Internet promotion on our popular website to include featured properties and portals such as OnTheMarket and Rightmove
  • 'For Sale' signs (never underestimate the power of traditional for sale signs as many homes sell as a result of a friend or neighbour spotting the board and spreading the word)
  • Campaigns promoting our properties

In addition to finding buyers, selling through Peter Ball & Co offers other benefits to ease the stress when selling your home. We accompany the majority of our viewings and conduct negotiations for the sale and monitor the whole sales process through to completion using our dedicated Sales Progression Team. Our average fall through rate is less than 20% opposed to the national average of 38%. All Estate Agents are NOT the same. 

Tip: Put yourself in your buyer's shoes, visit your local estate agent's branch and website and question whether the branch is a welcoming environment with friendly staff and if the website is easy to navigate.

Tip: Whether you’re re-mortgaging or need a new loan, get some financial advice early on. It will give you a better understanding on your future plans.

Guide to Selling Step 3 - Presenting your property

Step three – Presenting your property:

First impressions really do count. The presentation of your property helps achieve the asking price and a successful sale. Consider addressing any DIY jobs you have been meaning to get done, add a neutral, fresh coat of paint where necessary and try to declutter to make rooms appear larger. It is also important that any outside or communal areas are kept tidy and clear of obstruction.

One of our experience valuation team can help to advise you on the best way to present your home. Why not get a free consultation.

In addition to the presentation of the property it’s important for your Estate Agent to provide good quality photographs, essential floorplans and a brief, accurate description for full colour brochures.

Tip: ‘Kerb appeal’ is industry jargon for the first impressions a property makes on a buyer before he/she has even walked through the front door.

Guide to Selling Step 4 - Marketing your property

Step four – Marketing your property:

There are many ways we can market your property. Whether you are looking for a for a quick sale or wanting a slower ‘low key’ approach we will discuss the best marketing strategy that suits you. Find out more about ‘low key’ marketing by contacting one of our valuation team.

As soon as terms have been agreed and contracts signed our dedicated sales team from all five offices are at your service, behind the scenes, proactively marketing your property. Property alerts are sent out immediately to all active applicants, followed up by telephone calls to encourage them to view. We often sell properties prior to producing sales brochures and going on line.

In the meantime we will arrange for an Energy Performance Certificate (If required) to be carried out and prepare ‘draft details’ for your approval. Once received, your property is ready to go online as a New Instruction and full marketing can commence.

Tip: Ask your Estate Agents to arrange for their local sales team to visit so that they are familiar with your property and can immediately start speaking to their active applicants about it prior to it being officially marketed.

Guide to Selling Step 5 - Finding and instructing a solicitor

Step five – Finding and Instructing a solicitor:

Often vendors instruct their solicitor at the point of receiving an acceptable offer. It may be worth considering instructing your solicitor at the point of marketing the property. Title deeds can be applied for and any unforeseen issues can be dealt with prior to a sale which will speed up the whole selling process. The successful sale of a property can often depend on the efficiency and experience of the solicitor. We always recommend using a solicitor that is local and has experience in conveyancing of properties in the area. Peter Ball & Co work with many good local solicitors and are happy to recommend and organise solicitor quotes for any sale and/or purchase.

Tip: Always get a couple of quotes and check your solicitor works on a ‘no sale, no fee’. This means there is no cost for any abortive work they have done but does not include any disbursement costs such as search fees already paid.

Guide to Selling Step 6 - Accompanied viewings

Step six – Accompanied viewings:

Peter Ball & Co accompany the majority of our viewings Monday through to Saturday. We are happy to chauffeur them around giving us quality time for a better understanding of their requirements. Occasionally you will be asked to show them around providing you are comfortable with it. Better to have a viewing and a time that suits your potential buyer than not. Some of our vendors insist on accompanied viewings which we are happy to oblige.

Tip: Potential buyers will want to imagine themselves living in your property, so above all your home needs to be clean, comfortable and clutter-free. We suggest the following to make them feel at home:

  • Control the temperature. Keep your home cool in the summer and warm in the winter
  • De-clutter and remember buyers may look in cupboards and drawers to investigate storage space
  • DIY jobs. It is worth finishing off any niggling jobs that may put off buyers
  • If you are thinking of redecorating, use neutral tones so buyers can picture their own furniture in the rooms
  • Replace any odours of smoke or pets with flowers or freshly brewed coffee

Tip: Listening to feedback from viewings can be helpful to determine how to make your property more attractive to buyers.

Guide to Selling Step 7 - Receiving an offer

Step seven – Receiving an offer:

All offers are negotiated and put forward by managers/senior members of staff. Experience is key in negotiating the best possible price for you.

The buyer's position may also impact your decision. Consideration should be given to the position and ability of the buyer along with the price being offered and how they fit in with your requirements, are they paying cash, do they already have a mortgage "agreed in principle", are they first time buyers, are they in a short chain, or can they work to your timescales better than other buyers?

We will check the buyer's financial ability to proceed and whether the purchase is dependent on a sale. If so we will check all parts of the chain to make sure it is complete and at what stage each link is at. This will give you a full detailed picture when deciding whether to accept the offer.

Tip: You should never feel pressured into accepting an offer you are not comfortable with. Estate agents are acting on your behalf, not the buyers, so we will work with you to get the best price.

Guide to Selling Step 8 - Offer agreed

Step eight – Offer agreed:

Once negotiations have reached a positive conclusion and you are happy to accept an offer, you will need to instruct a solicitor/conveyancer for your sale and/or purchase, if you haven't already done so. If not we are happy to recommend and organise local solicitor quotes for you.

We will

  • Write to all parties to confirm the agreed price and terms of offer
  • Send a comprehensive 'memorandum of sale' pack. This will include property particulars; a fixture and fittings list; an Energy Performance Certificate; a chain sheet with all relevant buyers and sellers; contact details of solicitors and a guide to the selling process. 
  • Your solicitor will send out a draft contract to the buyer's solicitor who will carry out preliminary enquiries. At this stage you will also be able to discuss possible dates for the survey on your property, exchange of contracts and proposed date for completion.

You can

  • Should you be purchasing on, you can take your own mortgage application further, as you now know how much your money you will make from the sale of your home. Finding the right mortgage can be very time consuming. Get a FREE consultation or a CALL BACK from our recommended Independent Mortgage Broker who has access to the entire market, as well as exclusive deals and rates to help find you the best mortgage available.
  • Take photographic ID and proof of address (recent utility bill) to your solicitor. This information is required for Money Laundering purposes and will save on time. Please note original copies are needed.

We have a specialist sales progression team. One of them will be designated to look after your sale all the way through to completion and liaise with all parties on a regular basis, keeping you informed every step of the way. There are no legal obligations until contracts have exchanged. 

Tip: When instructing your solicitor and lender/mortgage broker ask them what they need from you. This may help to speed up the process.

Guide to Selling Step 9 - Exchanging contracts

Step nine - Exchanging Contracts:

Exchange of contracts occurs when the following have been confirmed and agreed:

  • 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

The exchange of contracts is the legally binding part of the process. This occurs when the contract has been signed by both parties and your buyer’s deposit (the normal sum or liability is 10% of the purchase price) has been telegraphically transferred or paid in the form of a banker's draft to your solicitor from the buyer's solicitor. A date for completion (moving date) is agreed and from this point both parties are legally bound to go through with the transaction.

Normally there is an agreed amount of time between exchange and completion to allow for packing and removal company arrangements. Sometimes a simultaneous exchange and completion can happen on the same day.

Tip: Do not commit to removal expenses and/or temporary accommodation until contracts have been exchanged.

Guide to Selling Step 10 - Day of completion

Step ten - Day of Completion:

This is the day the balance of the monies is transferred via the banking system from the buyer’s solicitor to your solicitor.

Releasing keys:

Your solicitor will call you when the money has cleared in your account and will inform us to release the keys to your buyer.

Congratulations, your property is now SOLD!

Tip: Don't forget to re-direct your post. Why not use our comprehensive ‘Who to Notify’ check list