The prospect of selling your home can be daunting – all the more so if you are looking for another property to buy at the same time. The decisions you make along the way could save you – or cost you - many thousands of pounds. Here is Woodlands step by step guide:
- If you are considering selling with Woodlands because you need more space, have you considered building an extension, converting the attic, or digging out the basement? Our branch will recommend our in-house contractors who can work alongside you throughout your sale period. The costs of moving can be so great, finding the correct builder/Decorator you can trust could save you a lot of money.
Have you thought about how changing house prices might affect the decision to sell? If prices are rising rapidly, you may not be able to afford a place much bigger than the one you are already in. Our Sales Negotiators will guide you from the beginning on your Areas Property Price movements.
Depending upon your circumstances, you might be better off renting your home out rather than selling. Woodlands have been one of TW7’s Premier Property management companies for over 25 Years. We will find the best financial method for you personally.
- Woodlands can recommend many options when it comes to Mortgage Lenders. You need to find out how big your outstanding mortgage is and if there are any early redemption penalties.We will give you our professional opinion on how much your property is worth, then you can calculate how much money you will be left with after you have paid off the mortgage.
At the early stages, the figures will be approximate only – you don’t know how much you will sell your house for and you will only get a precise redemption (amount outstanding) figure for your mortgage once you have an agreed completion date.
If you are also buying a new home, you should obviously consider what size mortgage you will need for that. Through our partnership with London & Country Mortgages (The UK’s largest fee free mortgage broker) we are certain in being able to help you find the right Mortgage deal.
As a whole of market mortgage broker they have flexible opening times (handy if you have a busy lifestyle). In addition all products come with Buyer’s Protection Insurance to help with costs should your purchase fall through (terms apply).
Check out our mortgage page where you can view current best buy products (subject to change), try our online mortgage finder service and even check your eligibility.
- Renting can also be an attractive option, it can add to the overall expense you incur but will reduce the critical time pressures of buying a new home. You won’t have to sell at a low price and will not be rushed into buying a less-than-perfect home because you have found a buyer for your current home. You will break out of the housing chain which means you will be a more attractive buyer. Woodlands have a wide range of Rental Properties on the market. We can easily accommodate circumstances such as these where time is a factor.
- One of the most agonising decisions when selling your home is what price to put it on for. Woodlands will give you a realistic selling price. Most Estate Agents will add 5 – 10% on top of your properties achievable amount to gain wiggle room for offers. Along with a fair commission rate, Woodlands will give you our honest opinion on how long we believe your property will take to sell judging by researching the market.
You may decide to get a number of estate agents to do valuations. We will always approach New Vendors or Landlords with a genuine and honest approach. The last thing you would want to do is over value your Property and leave it empty on the market for months on end.
- First appearances always matter when selling your home. If you “stage” your home well, you are not only more likely to sell your home faster, but you might make it more valuable too.
Tidy up and get rid of excess clutter; give it a fresh coat of light coloured paint; fix those little snagging things; keep it clean. We have had instances were Prospective Buyers have been put off a Property due to too much clutter, a poorly defined room or the impression that a property requires more work than it really needs.
- The house is now ready for viewings and we have a clear plan of action. Time to instruct Woodland, once contracts have been signed and agreed and we have taken care of compliance this is where our work really begins. Woodlands will visit your Property where our in-house Photographers will politely direct you in where to tidy and which angles they need to get the best possible shots for Marketing.
We will then prepare high quality property particulars for your approval whilst organising an Energy Performance Certificate and Floorplans.
All the while we will begin our marketing campaign and contact suitable purchasers. Each and every potential viewer will be carefully screened and selected prior to recommending them for viewing.
We often get asked whether one should be present at a viewing or not. We always say do what makes you feel comfortable. Let the applicant view the property in their own way, that way you make them feel welcome in what could be their next home.
- With us at the forefront of your sale you may need a help behind the scenes. Our unique Residential Sales Concierge service (in partnership with Goto Group) will act as your helping hand. A member of the team will be on hand to arrange the following during your sale and purchase:
This will leave you to focus on the things life which matter the most!
Accept an offer - You’ve received an offer – hooray! Woodlands are legally required to pass all offers on to you, however near or far from the asking price. You can be assured that we will have financially verified any offer before bringing it your attention.
If you are not happy with it, you can either reject it outright, wait to see if a better offer comes along or request that we negotiate it upwards. Once you are happy with an offer, you need to formally accept it. You should then instruct us to take the property off the market.
At this stage your Sellers Portal changes to include a detailed breakdown of how far your sale is progressing so you are always up to date. The final stages of the sale would consist of exchanging sales details, arranging the mortgage survey. Checks on the Building survey and searches, negotiating any issues and approving the legal actions.
- You and the buyer will have to decide: The length of time between exchange and completion (usually 7-28 days after the exchange of contracts). What fixtures and fittings will be included – and how much will they pay for them. Any discounts due to problems flagged up by the survey.
- When you exchange contracts with the buyer you become legally committed to selling the property – and they are legally committed to buying it from you.
If you pull out after this without due reason, the buyer’s deposit will be returned to them. If you sell a house you are responsible for looking after it until the sale is completed so you should make sure you have buildings and contents insurance cover until then.
- You can move out whenever you like, even up until the day of completion (although clearly, you need somewhere to move to). It is less stressful to move out beforehand, if that is possible. At the time of completion, the property has to be in the condition agreed in the contract – including all the fixtures and fittings.
By now our Sales concierge would have already arranged your removal company and locksmith. Woodland will accompany you round between your moving out and completion to ensure that everything is in place.
- Completion is when the property changes ownership, you accept payment, and hand over the keys.
A little like a duel, it takes place on a previously agreed date and usually at midday. On the day of completion, the money is transferred and any deeds for the property are transferred between each side’s solicitor or conveyancer
Your solicitor/conveyancer will register the transfer of ownership with the Land Registry.
Settle up with the solicitor/conveyancer and estate agent - After completion, your solicitor/conveyancer will send you an account, covering all their costs and disbursements, as well as the sale price of the house and redemption of the mortgage.
If you are buying and selling at the same time, the solicitor/conveyancer can settle up for both transactions at the same time, including paying stamp duty for the house you are buying.
Your solicitor/conveyancer will ensure that the change of ownership is registered with the Land Registry.