Selling Process
There are seemingly thousands of questions to be answered when you’re in the process of selling a property.
To begin to answer them, you need to choose an experienced agent, like Oliver’s - especially in a buyer’s marketplace. A good agent must know the area and is there to help you arrive at a realistic price for your property, as well as giving useful advice on how to present your home. The selling process has a number of stages which are explained below.
Stage One
Register, Valuation, Solicitor
Hide
Register with an agent
Choosing the right agent is critical. You need good professional people who can guide you legally, practically and emotionally through what can be a stressful exercise. A worthwhile estate agent must provide you with the expertise, local knowledge and support you’ll need to achieve a successful sale. Ensure your agent is marketing-aware and has flexible opening hours to maximise viewing opportunities. Your agent must be able to help you organise the legally required Home Information pack.
Start by poping in or calling Oliver’s on 020 7284 1222.
Getting a valuation
First job is to obtain an accurate valuation – a realistic, attractive price based on a genuine understanding of supply and demand in the area. For a free Oliver’s valuation call 020 7248 1222, or submit an online valuation request.
Choose a solicitor
Get a solicitor on your team as soon as possible, someone who’s easy to talk to, from a firm that has considerable experience in the very latest conveyancing procedures.
Stage Two
Marketing, Viewings, Offers
Show More
Marketing
A good estate agent will understand the value of intelligent marketing, so as to get your property ‘out there’ in the public domain, without delay.
Once you instruct Oliver’s to sell, we waste no time in getting photographs and all relevant details on our website at the earliest possible opportunity. We can provide a full marketing package including local advertising, spec sheets, aerial views and inclusion in a colour brochure.
Viewings
Go for flexible viewing times and ensure your agent can organise these during evenings and weekends. At Oliver’s, at least half our viewings take place outside ‘normal’ hours.
Remember, until contracts are signed and exchange takes place, there is no legal obligation on either side.
Receiving offers
When you do receive an offer, your agent should inform you promptly, by phone, text, or email. However, do not take action without a formal written offer. At Oliver’s, speed is of the essence - we’re always there to advise you promptly on the quality of the offer and how you should proceed.
Stage Three
Offer accepted, Contracts
Show More
Offer accepted
So far, so good, but don’t break open the bubbly yet. Next step is all about dates and details, principally - what exactly is included and excluded in the purchase; when should a property survey take place; dates for exchange and completion.
At Oliver’s, we’re all very experienced in this make or break process and we’ll be there for you throughout – advising, negotiating and keeping you in the picture every step of the way.
Contracts
Now’s the time for your solicitor to get busy drafting a contract, along with the necessary information, including a HIP for your property.
Solicitors for both vendor and purchaser make contact with each other and relevant enquiries begin. Now, the paper trail is on, as you pull together all the important paperwork, including deeds, lease, seller’s questionnaire, fixtures and fittings schedule, proof of planning permission, guarantees, freehold certificate, service charge accounts and building insurance where applicable.
Stage Four
Exchange and Completion
Show More
Exchange
Exchanging contracts can only happen when all local searches and enquiries have been agreed by both parties.
If the buyer has cash, matters can proceed faster, but in most instances a mortgage will need to be arranged. When a mortgage offer is in place, the purchaser is ready to exchange. Contracts are then signed by both buyer and seller and either a 5 or 10% deposit must be transferred to the vendor’s solicitor, by banker’s draft or electronic transfer.
Completion
This final stage should take place shortly after contracts have been exchanged, on a mutually agreed date. The remaining 90 or 95% of monies is transferred to the vendor and finally it’s time to call in the removers.
Job done!
