- ‘Spring’ing into Action – Selling Your Property and Conveyancing
Emily Farrow, in our Residential Property & Conveyancing team, has some simple advice for anyone considering selling a property this spring.
The clocks have sprung forward and the residential property market is picking up speed. If the lighter evenings have given you the push you need to put your property on the market, below are some helpful pointers to help you on your way.
- Have a look at your property to see whether you can make any simple improvements that may be attractive to potential purchasers. A lick of paint or a tidy up of the garden could make a difference to the value and ‘saleability’ of your property.
- Instruct an estate agent. Have a few agents view your property and provide you with valuations so that you can choose the right agent for you.
- Instruct your solicitor as soon as possible. You will have a number of initial forms to complete about the property and it would speed up the process if you have dealt with these before you have had an offer accepted. You will also need to provide identification paperwork, so arranging a time to visit your solicitor at an early stage will ensure there aren’t any delays in exchanging contracts.
- Have a think about any works that have been carried out during your ownership of the property and dig out any paperwork you hold. You will also need to look for any paperwork that you were provided with when you bought the property. The most common paperwork required is planning permission and building regulation paperwork, although you will also need paperwork for replacement windows, electrical work and boiler services.
- Check your finances. Ensure that you are aware of the costs involved in selling your property and consider whether you will be subject to an early repayment charge on your mortgage that you may wish to avoid. The main costs to consider will be estate agent fees, solicitor’s fees and some minor third party expenses.
- If you are selling a leasehold property, or if you ordinarily pay an ongoing charge to a management company for various reasons (e.g. the maintenance of communal areas), be prepared that the management company are likely to charge a fee for providing a sales pack which the buyer will require at an early stage of the transaction.
If you have any questions at the early stages of the transaction or throughout the process, your solicitor should be available to assist you.
This article is intended for the use of clients and other interested parties. The information contained in it is believed to be correct at the date of publication, but it is necessarily of a brief and general nature and should not be relied upon as a substitute for specific professional advice.