How to Sell Your Home
Why do you want to sell?
Whether you need more space for your growing family or are relocating elsewhere, knowing the answer to this question is the first step. However, buying a new home may be your best bet if you have equity and are ready for a change.
What can I afford to buy?
Before deciding to sell, it’s important to know what your house is worth and other admin expenses. Try to work out how much belongs to you and how much you owe to your mortgage provider.
How much does it cost to sell a house?
These are the expenses you’ll need to cover when selling your home:
- Estate agent fees come in between 1% to 3% of your home's sold price
- Conveyancing fees (£800-£1,800)
- Removal costs (£400-£1,800)
- Remortgaging fees (£1,000)
- Paperwork expenses such as Energy Performance Certificate (£60-£120)
What documents do you need to sell a house?
Make sure you have these documents at hand when selling your home:
- An Energy Performance Certificate (EPC)
- FENSA Certificate for windows and doors
- A Boiler Safety Certificate
- A Gas Safety Certificate
- Electrical Installation Certificate
Do I need an estate agent?
How do I choose an estate agent?
Do I need a solicitor?
How much should I sell for?
Bear in mind that buyers may want to negotiate a discount (usually between 5% and 10%).
When should I put my house on the market?
How long does it take to sell a house?
Typically, selling your home takes an average of 25 weeks; however, this may vary. The most crucial is the first couple of weeks after your property has been advertised. This is when it’s most likely to go under offer. Here is a rought timeline of every stage involved:
- Listing the property (1 to 3 days)
- Marketing the property and wait for an offer (between 1 to 14 weeks)
- Conveyancing and financing process (from 8 to 16 weeks)
- Exchanging contracts (1-2 weeks)
What offer should I accept?
Here are some things to consider before accepting the offer:
- Ask yourself if the offer reflects a fair price for your home
- Try to find out if the buyer can complete the purchase
- Try to find out if they are cash buyers or in a chain
- You don’t have to accept the first offer
- You can negotiate with the buyer
- If you receive more than one offer, you can opt for sealed bids*
*sealed bids are where your estate agent asks both parties to write down the maximum price they can pay
What happens after I accept an offer?
Once you’ve accepted an offer, it’s time to make it official.
- Draft your contracts: Your solicitor will draft the contract for you and your buyer to sign.
- Exchange contracts: After you agree to the contract, you’ll exchange it. This means it becomes legally binding.
- Finalise the sale: You accept part of the agreed payment, and the legal deeds are passed from your solicitor to your buyers’.
Top tips for selling your home
You can get help from a mortgage broker, who will estimate your expenses and how much you can afford to borrow.
Give a new lease of life to your home
If your house needs some major renovation, you may want to get a house survey. This way, you’ll know the extent of the problem and potential repair costs.
Find a good estate agent and solicitor
Accept the right offer
- Is the offer fair?
- Is the offer enough for you to afford to buy your next property?
- How quickly do you need to sell?
- How long has the property been on the market?
- Did you already reduce your asking price?
- What is the buyer’s situation?
- Are there any other buyers interested in buying your home?
Selling Your Home FAQs
The first thing to do when selling a property is to consider its market value by getting a professional property valuation. Then, you will need to choose an estate agent to sell the property or consider selling it privately. It is also important to prepare the property for viewings by carrying out any necessary repairs and decluttering. Finally, you will need to market the property and negotiate with potential buyers.
It is recommended to hire a solicitor or conveyancer to handle the legal aspects of the sale.
Estate agent fees, solicitor fees, and removal costs are some of the common fees when selling a house.
With the Movemaker scheme, we’ll arrange the sale of your home and cover the estate agent fees for you. If you’re struggling to sell, our Part Exchange scheme could help. We can be your guaranteed buyer, so you won’t have to worry about marketing your property on the market.
explore our range of schemes